Marketing 9

  1. Marketing Research
    process of planning, collecting, and analyzing data relevant to a marketing decision
  2. Role of Marketing Research (3)
    • 1) Descriptive- gathering and presenting factual statements.
    • 2) Diagnostic- explaining data
    • 3) Predictive- "What if?"
  3. 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
  4. Problem Definition
    • - 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.
  5. Secondary Data
    data previously collected for any purpose other than the one at hand.
  6. Primary Data
    information collected for the first time. Can be used for solving the particular problem under investigation. EX: surverys, observations, experiments
  7. Survery Research
    the most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes
  8. Forms of Survery Research
    in home interviews, mail surverys, mall intercept interviews, telephone interviews, executive interviews, focus groups
  9. Observation Research
    a research method that relies on 3 types of observation: 1) ppl watching ppl 2) ppl watching an activity 3) machines watching ppl
  10. sample
    a subset of a population
  11. Experiments
    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)
  12. universe
    the population from which a sample will be drawn
  13. mystery shoppers
    researchers posing as customers who gather observational data about a store
  14. probability samples
    a sample in which every element in the population has a known statistical likelihood of being selected
  15. Nonprobability Sample
    any sample where little or no attempt is made to get a representative cross section of the population
  16. Probability Sampling
    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
  17. Non-probability Sampling
    a subset of the population in which the chances of selection for the various elements in the population are not precisely known
  18. Collecting the Data (4)
    • handled by the company or outsourced to a marketing research firm.
    • 1)questionnaires
    • 2) interviews
    • 3) experiments
    • 4) obesrvation
  19. 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.
  20. Preparing and Presenting the Report
    prepare a written and oral presentation to include the research objectives, methodology, key findings, limitations, acknowledgements, conclusion, and recommendations.
  21. 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
  22. Advantages of Internet Surverys
    speed, reduced costs, improved respondent participation, contact with the Hard-to-Reach
Card Set
Marketing 9
Marketing 9