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Marketing Research (Chapter 4)

Marketing Research (Chapter 4). Uses of Marketing Research Primary vs. Secondary Data Comparison of Data Collection Methods Comparison of Offline and Online Marketing Research Methods. What Is Marketing Research?. Target Market. Marketing Research. Identification. Market Opportunities.

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Marketing Research (Chapter 4)

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  1. Marketing Research(Chapter 4) • Uses of Marketing Research • Primary vs. Secondary Data • Comparison of Data Collection Methods • Comparison of Offline and Online Marketing Research Methods ã 2001 - Dwayne D. Gremler

  2. What Is Marketing Research? Target Market Marketing Research Identification Market Opportunities Marketer Definition Market Problems Action Exhibit 4-1 ã 2001 - Dwayne D. Gremler

  3. Marketing Research Objectives Marketing Research Attempts to Perform Three Basic Tasks: Marketing Research ã 2001 - Dwayne D. Gremler

  4. Analyzing the Environment • Environmental • collecting information • Environmental • identifying opportunities and threats • Environmental • determining appropriate strategies ã 2001 - Dwayne D. Gremler

  5. Purpose of Marketing Research Analyze Customers, their Needs, & Satisfaction Analyze Markets & Opportunities Analyze Effectivenessof Marketing Strategy/Tactics Marketing Research Analyze Marketing Process Goal Achievement for Customers and for the Organization ã 2001 - Dwayne D. Gremler

  6. Popular Uses of Marketing Research How to segment the market? Who are mycustomers? What is the price elasticity? Conjoint Analysis Customer Identification Discrete Choice Modeling MarketingResearch Whendo theypurchase? What are the growth trends? Environmental Studies Buying-Habit Studies Opinion Research Competitive Analysis Who are my competitors? What do they like? Exhibit 4-3 ã 2001 - Dwayne D. Gremler

  7. The Marketing Research Process • define the problem/determine thepresent situation • specify the research question/determine research objectives • determine sources of data (primary/secondary) • determine data collection method • plan data collection • collect data • process/analyze data • present the results ã 2001 - Dwayne D. Gremler

  8. Marketing Research Data Collection Data-Collection Methods Offline Methods Online Methods Secondary Primary Secondary Primary • Colleges, universities, libraries • Books, publications • Magazines, newspapers • Marketing departments • Focus groups • Surveys • Observations • Search engines • Newsgroups • Directories • Questionnaires • Discussion groups • Click data Exhibit 4-14 ã 2001 - Dwayne D. Gremler

  9. Types of Data • secondary data • information that was collected previously • sources: internal records, syndicated data, government data (housing, manufacturers, retail trade, etc.) • primary data • information newly collected for specific problem qualitative data - quantitative data - ã 2001 - Dwayne D. Gremler

  10. Sources of Data • Secondary Data • Databases • Government • Periodicals • Trade Journals • Trade Associations • Primary Data • Mail Surveys • Telephone Surveys • Personal Interview ã 2001 - Dwayne D. Gremler

  11. Internal Sources Employees Organizational Records Organizational Communications Board of Directors External Sources Government Agencies Publications Computerized Online Databases Trade Associations Trade Shows and Conferences Unions Industry Consultants Customers Regulatory Bodies Stockholders Chamber of Commerce Groups Sources for an Environmental Scan ã 2001 - Dwayne D. Gremler

  12. Demographic trends www.census.gov Competitors www.sec.gov Technological Forces www.lanl.gov Natural Resources www.epa.gov Social and Cultural Trends www.odci.gov World and Local Economies www.stat-usa.gov Legal and Political Environments thomas.loc.gov/home/thomas2.html Web Sites for Environmental Scanning ã 2001 - Dwayne D. Gremler

  13. Assessing Information Quality • Evaluating quality of secondary data: ã 2001 - Dwayne D. Gremler

  14. Decision Factor Offline Method Online Method Cost High Low Turnaround Time Slow Quick Effort Labor-Intensive Labor-Nonintensive Data Quality Medium High Researcher Control High Low Sampling Accurate Inaccurate Sample Selection Bias Controllable High to Uncontrollable Delivery / Illustration Limited Unlimited Interviewer Bias High Low Geographical Coverage Limited Unlimited Anonymity High to Medium Low Ethical Issues Low High Offline and Online Marketing Research Methods ã 2001 - Dwayne D. Gremler

  15. Marketing Research Summary • A general marketing research framework involves the following seven steps: 1) opportunity or problem definition, 2) research design, 3) population sampling, 4) data collection and entry, 5) data analysis, 6) validation, and 7) final report • Offline marketing research methods are generally reliable but expensive and labor-intensive. Online methods significantly reduce the turnaround time and cost, but it may be difficult to draw a random and representative sample. • Internet-based marketing research works best when: • A representative sample can be drawn from the population • There is no issue with confidentiality of the data • The topic is sufficiently straightforward that it can be communicated via a short, relatively simple survey ã 2001 - Dwayne D. Gremler

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