process of planning, collecting, and analyzing data relevant to a marketing decision
Role of Marketing Research (3)
- 1) Descriptive- gathering and presenting factual statements.
- 2) Diagnostic- explaining data
- 3) Predictive- "What if?"
Marketing Research Process (7)
- 1) Define Problem
- 2) Plan Design/Primary Data
- 3) Specify sampling procedure
- 4) Collect Data
- 5) Analyze Data
- 6) Prepare/Present Report
- 7) Follow Up
- - a bad problem definition dooms project from the start
- - a well defined problem is a problem half solved
- - an opportunity is a form of a problem in that managers must determine whether and how to take advantage of it.
data previously collected for any purpose other than the one at hand.
information collected for the first time. Can be used for solving the particular problem under investigation. EX: surverys, observations, experiments
the most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes
Forms of Survery Research
in home interviews, mail surverys, mall intercept interviews, telephone interviews, executive interviews, focus groups
a research method that relies on 3 types of observation: 1) ppl watching ppl 2) ppl watching an activity 3) machines watching ppl
a subset of a population
a research method where the researcher alters one or more variables- price, package design, shelf space, advertising theme, etc- while observing the effects of those alterations on another variable (usually sales)
the population from which a sample will be drawn
researchers posing as customers who gather observational data about a store
a sample in which every element in the population has a known statistical likelihood of being selected
any sample where little or no attempt is made to get a representative cross section of the population
a subset of the population that can be assumed to be a representative cross section of the population because every element in the population has a known non-zero chance of being selected
a subset of the population in which the chances of selection for the various elements in the population are not precisely known
Collecting the Data (4)
- handled by the company or outsourced to a marketing research firm.
- 2) interviews
- 3) experiments
- 4) obesrvation
Analyzing the Data
- -statistical analysis and analytical models are often used
- -routine reporting makes info available in a timely manner
- -market research is NOT a substitute for management.
Preparing and Presenting the Report
prepare a written and oral presentation to include the research objectives, methodology, key findings, limitations, acknowledgements, conclusion, and recommendations.
Online Marketing Research
the use of the internet to assist in any phase of the marketing research process, including development of the problem, research design, data gathering, analysis, and report writing and distribution
Advantages of Internet Surverys
speed, reduced costs, improved respondent participation, contact with the Hard-to-Reach