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Understanding Surveys in Market Research: Insights and Importance**

This presentation explores what surveys are and why they are vital in market research. A survey is a method for collecting primary data about consumer knowledge, attitudes, preferences, and buying behavior. Key topics include identifying respondents through various sampling methods, data collection techniques (mail, telephone, personal, and online), potential issues like privacy concerns and inaccurate findings, and the significant role surveys play in gaining customer insights and improving decision-making.

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Understanding Surveys in Market Research: Insights and Importance**

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Presentation Transcript

  1. Practicum 1: Surveys February 14, 2013 Business 306 VinnyDeLorenzo Kevin Durham Matt Welling Mike Gross

  2. Agenda • What is a survey? • Finding respondents and gathering data • Issues that can arise • Why surveys are important • Conclusion

  3. What is a Survey? A Survey is… • Primary data about • Knowledge • Attitudes • Preferences • Buying Behavior (Armstrong & Kotler, 2012, p 109)

  4. What is a Survey? Survey Research • Most widely used in market research • Best for… • Descriptive information • General attitudes • Preferences (Armstrong & Kotler, 2012, PPT)

  5. What is a Survey? • “…the most widely used method for primary data collection…” (Armstrong & Kotler, 2012, p 109) • “Major advantage… is its flexibility…” (Armstrong & Kotler, 2012, p 109)

  6. Finding Respondents • Data gathered via Samples • Sample: A segment of the population that accurately represents the group being studied (Armstrong & Kotler, 2012, p 114)

  7. Finding Respondents Probability Samples • Simple Random Sample • Stratified Random Sample • Cluster Sample

  8. Gathering Data Several Methods • Most Common… • Mail- Low Cost, Low RR • Telephone- Medium Cost, Low RR • Personal- High Cost, High RR • Online- Low Cost, Medium RR (Armstrong & Kotler, 2012, p 110)

  9. Issues with Surveys Issues include… • Consumer privacy • Inaccurate Findings • Misuse of Research Findings (Armstrong & Kotler, 2012, pp 124-125)

  10. Why are Surveys Important? • Surveys can… • Gain customer insight • Help avoid mistakes • Keep costs low • Ex. Pontiac Aztec

  11. Conclusion • Today we covered… • What a survey is • Finding respondents and gathering data • Issues that can arise • Why surveys are important

  12. Questions?

  13. References Armstrong, A., & Kotler, P. (2012). Principles of marketing. (14th ed., p. 109). Upper Saddle River, New Jersey: Prentice Hall. Armstrong, A., & Kotler, P., (2012). Chapter four: Managing marketing information to gain customer insights. [PowerPoint slides]. Retried from CSUMB, BUS306 iLearn account.

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