Ch4 conducting marketing research and forecasting demand

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Ch4 conducting marketing research and forecasting demand

  1. 1. TOP 10 Learning Questions for Ch 4: Conducting Marketing Research and Forecasting Demand Ma Alexandria Bulaon December 16, 2011
  2. 2. 1. The first step in the marketing research process is _____. <ul><li>develop the research plan </li></ul><ul><li>define the problem and research objectives </li></ul><ul><li>collect the information </li></ul><ul><li>present the data </li></ul><ul><li>make the decision </li></ul>
  3. 3. The Marketing Research Process <ul><li>Define the problem </li></ul><ul><li>Develop research plan </li></ul><ul><li>Collect information </li></ul><ul><li>Analyze information </li></ul><ul><li>Present findings </li></ul>Make Decision
  4. 4. Steps in the Marketing Research Process <ul><li>Step 1: Define the Problem – </li></ul><ul><li>Determining & clarifying the management’s information needs. </li></ul><ul><li>Step 2: Develop Research Plan – </li></ul><ul><li>This involves creating a problem solving framework and analytical models. </li></ul><ul><li>Step 3: Collect Information – </li></ul><ul><li>Collecting all relevant data and information. </li></ul><ul><li>Step 4: Analyze Information – </li></ul><ul><li>Data Preparation, tabulation and analysis of results </li></ul><ul><li>Step 5: Present Findings – </li></ul><ul><li>Presentation and report generation </li></ul>
  5. 5. Defining the Problem <ul><li>The starting phase is always identifying the reason or problem for which research is to be conducted. This includes collecting of relevant initial information and how this information will affect decision making process. </li></ul>
  6. 6. 1. The first step in the marketing research process is _____. <ul><li>develop the research plan </li></ul><ul><li>define the problem and research objectives </li></ul><ul><li>collect the information </li></ul><ul><li>present the data </li></ul><ul><li>make the decision </li></ul>
  7. 7. 2. Potential market, available market, target market, and penetrated market are measures of _________. <ul><li>Market demand </li></ul><ul><li>Market supply </li></ul><ul><li>Market group </li></ul><ul><li>Market size </li></ul><ul><li>Market research </li></ul>
  8. 8. The Measures of Market Demand
  9. 9. Market Demand <ul><li>- Market demand is the total amount of purchases of a product within a specified demographic. </li></ul>
  10. 10. Market Demand <ul><li>Potential Market- set of consumers who express an interest </li></ul><ul><li>Available Market - potential plus income and access </li></ul><ul><li>Target Market– market the firm decides to pursue </li></ul><ul><li>Penetrated Market- consumers who are buying product </li></ul>
  11. 11. 2. Potential market, available market, target market, and penetrated market are measures of _________. <ul><li>Market demand </li></ul><ul><li>Market supply </li></ul><ul><li>Market group </li></ul><ul><li>Market size </li></ul><ul><li>Market research </li></ul>
  12. 12. 3. Customer survey forms in restaurants can measure the following marketing metrics except: <ul><li>Loyalty </li></ul><ul><li>Total number of customers </li></ul><ul><li>Customer satisfaction </li></ul><ul><li>Market share </li></ul><ul><li>Number of complaints </li></ul>
  13. 13. Marketing Metrics <ul><li>External </li></ul><ul><li>Awareness </li></ul><ul><li>Market share </li></ul><ul><li>Relative price </li></ul><ul><li>Number of complaints </li></ul><ul><li>Customer satisfaction </li></ul><ul><li>Distribution </li></ul><ul><li>Total number of customers </li></ul><ul><li>Loyalty </li></ul><ul><li>Internal </li></ul><ul><li>Awareness of goals </li></ul><ul><li>Commitment to goals </li></ul><ul><li>Active support </li></ul><ul><li>Resource adequacy </li></ul><ul><li>Staffing levels </li></ul><ul><li>Desire to learn </li></ul><ul><li>Willingness to change </li></ul><ul><li>Freedom to fail </li></ul><ul><li>Autonomy </li></ul>
  14. 14. Market Shares <ul><li>Market Share = Firm’s Sales / Total Market Sales </li></ul>
  15. 15. Research Approaches
  16. 16. Market Shares <ul><li>- is the portion or percentage of sales of a particular product or service in a given region that are controlled by a company. This data cannot be extracted from a customer survey form. </li></ul>
  17. 17. 3. Customer survey forms in restaurants can measure the following marketing metrics except: <ul><li>Loyalty </li></ul><ul><li>Total number of customers </li></ul><ul><li>Customer satisfaction </li></ul><ul><li>Market share </li></ul><ul><li>Number of complaints </li></ul>
  18. 18. 4. The following are research approach except: <ul><li>Experimentation </li></ul><ul><li>Observation </li></ul><ul><li>Survey </li></ul><ul><li>Data Gathering </li></ul><ul><li>Ethnographic </li></ul>
  19. 19. Research Approaches <ul><li>Research approach is the method of collecting data </li></ul><ul><li>Internet surfing has a lot of uses and does not necessarily mean that the user is collecting data </li></ul>
  20. 20. Research Approaches <ul><li>Observation – act of noting and recording something </li></ul><ul><li>Ethnographic – a systematic market research observing customers in their own environment using products and services </li></ul><ul><li>Focus Group – provide accurate information </li></ul><ul><li>Survey – a questionnaire used to gather data about consumer attitudes or behavior </li></ul><ul><li>Behavioral Data – Information employed in marketing for designing promotional campaigns based on consumers' buying habits, brand preferences, and product usage </li></ul><ul><li>Experimentation – methodical procedure carried out with the goal of verifying </li></ul>
  21. 21. 4. The following are research approach except: <ul><li>Experimentation </li></ul><ul><li>Observation </li></ul><ul><li>Survey </li></ul><ul><li>Data Gathering </li></ul><ul><li>Ethnographic </li></ul>
  22. 22. 5. The following are contact methods except: <ul><li>Text Interview </li></ul><ul><li>Telephone Interview </li></ul><ul><li>Personal Interview </li></ul><ul><li>Mail Questionnaire </li></ul><ul><li>Online Interview </li></ul>
  23. 23. Contact Methods
  24. 24. Contact Methods <ul><li>Mail Questionnaire – </li></ul><ul><li>planned set of questions used to collect data </li></ul><ul><li>Telephone Interview – </li></ul><ul><li>an interview conducted over the telephone </li></ul><ul><li>Personal Interview – </li></ul><ul><li>face-to-face contact with individuals </li></ul><ul><li>Online Interview – </li></ul><ul><li>There are different forms of online interviews: synchronous online interviews (for example via chat technology) and asynchronous online interviews (for example via email). </li></ul>
  25. 25. Interview <ul><li>An interview is a conversation between two people (the interviewer and the interviewee) where questions are asked by the interviewer to obtain information from the interviewee. </li></ul><ul><li>There’s no such thing as text interview. </li></ul>
  26. 26. 5. The following are contact methods except: <ul><li>Text Interview </li></ul><ul><li>Telephone Interview </li></ul><ul><li>Personal Interview </li></ul><ul><li>Mail Questionnaire </li></ul><ul><li>Online Interview </li></ul>
  27. 27. 6. A good marketing research has the following characteristics except: <ul><li>Scientific method </li></ul><ul><li>Interdependence </li></ul><ul><li>Value and cost of information </li></ul><ul><li>Ethnical marketing </li></ul><ul><li>Multiple methods </li></ul>
  28. 28. Characteristics of a Good Marketing Research <ul><li>Scientific method </li></ul><ul><li>Research creativity </li></ul><ul><li>Multiple methods </li></ul><ul><li>Interdependence </li></ul><ul><li>Value and cost of information </li></ul><ul><li>Healthy skepticism </li></ul><ul><li>Ethical marketing </li></ul>
  29. 29. Ethical Marketing <ul><li>Briefly, marketing ethics refers to the philosophical examination, from a moral standpoint, of particular marketing issues that are matters of moral judgment. Ethical marketing generally results in a more socially responsible and culturally sensitive business community. </li></ul>
  30. 30. Ethical Marketing <ul><li>Ethics deals with moral principles and values. These moral principles and values govern the actions of an organization. They serve as guidelines to acting justly. Sometimes actions that are technically legal could be viewed as unethical. For example, charging exorbitant prices. Sometimes actions that are ethical may not be seen as legal. For example, some hiring practices. </li></ul><ul><li>Ethical marketing is a characteristic of a good marketing research, not Ethnical marketing. </li></ul>
  31. 31. 6. A good marketing research has the following characteristics except: <ul><li>Scientific method </li></ul><ul><li>Interdependence </li></ul><ul><li>Value and cost of information </li></ul><ul><li>Ethnical marketing </li></ul><ul><li>Multiple methods </li></ul>
  32. 32. 7. Which of the following is true? The sampling plan includes: <ul><li>Sample size, sample data, sample procedure </li></ul><ul><li>Sample test, sample size, sample market </li></ul><ul><li>Sample product, sample unit, sample procedure </li></ul><ul><li>Sample unit, sample size, sample operation </li></ul><ul><li>Sample unit, sample size, sample procedure </li></ul>
  33. 33. Sampling Plan <ul><li>Sampling unit: Who is to be surveyed? </li></ul><ul><li>Sample size: How many people should be surveyed? </li></ul><ul><li>Sampling procedure: How should the respondents be chosen? </li></ul>
  34. 34. Sampling Plan <ul><li>Includes: </li></ul><ul><li>Sampling unit </li></ul><ul><li>Sample size </li></ul><ul><li>Sampling procedure </li></ul>
  35. 35. Sampling Plan <ul><li>1. Sampling Unit - any group of things or persons regarded as an entity </li></ul><ul><li>2. Sample Size - measurement; extent; degree` </li></ul><ul><li>3. Sampling Procedure - step-by-step sequence of course of action </li></ul>
  36. 36. 7. Which of the following is true? The sampling plan includes: <ul><li>Sampling size, sample data, sample procedure </li></ul><ul><li>Sample test, sample size, sample market </li></ul><ul><li>Sample product, sample unit, sample procedure </li></ul><ul><li>Sample unit, sample size, sample operation </li></ul><ul><li>Sampling unit, sample size, sampling procedure </li></ul>
  37. 37. 8. Cluster samples and Quota samples are? <ul><li>Probability Samples </li></ul><ul><li>Nonprobability Samples </li></ul><ul><li>Probability and Nonprobability Samples </li></ul><ul><li>Probable Samples </li></ul><ul><li>None of the Above </li></ul>
  38. 38. Types of Samples <ul><li>Probability Samples </li></ul><ul><li>Simple Random </li></ul><ul><li>Stratified Random </li></ul><ul><li>Cluster </li></ul><ul><li>Nonprobability Samples </li></ul><ul><li>Convenience </li></ul><ul><li>Judgment </li></ul><ul><li>Quota </li></ul>
  39. 39. Types of Samples <ul><li>Probability Samples </li></ul><ul><li>Probability sampling is a sampling technique wherein the samples are gathered in a process that gives all the individuals in the population equal chances of being selected. </li></ul><ul><li>Nonprobability Samples </li></ul><ul><li>Non-probability sampling is a sampling technique where the samples are gathered in a process that does not give all the individuals in the population equal chances of being selected. </li></ul>
  40. 40. <ul><li>Cluster </li></ul><ul><li>In cluster sampling, instead of selecting all the subjects from the entire population right off, the researcher takes several steps in gathering his sample population. </li></ul><ul><li>Quota </li></ul><ul><li>Quota sampling is a non-probability sampling technique wherein the assembled sample has the same proportions of individuals as the entire population with respect to known characteristics, traits or focused phenomenon. </li></ul>
  41. 41. 8. Cluster samples and Quota samples are? <ul><li>Probability Samples </li></ul><ul><li>Nonprobability Samples </li></ul><ul><li>Probability and Nonprobability Samples </li></ul><ul><li>Probable Samples </li></ul><ul><li>None of the Above </li></ul>
  42. 42. 9. _____ quantifies, compare and interpret marketing performance. <ul><li>Marketing Research </li></ul><ul><li>Marketing Demand </li></ul><ul><li>Marketing Dashboard </li></ul><ul><li>Marketing Measurement </li></ul><ul><li>Marketing Metrics </li></ul>
  43. 43. Understanding market metrics <ul><li>To test to see if your marketing is successful, it is necessary to measure where you were and where you are now. This can be carried out with long-term tracking studies monitoring your market position and changes to your brand image over time or, for particular campaigns, measuring pre- and post- event to see what has changed. </li></ul>
  44. 44. The most common market metrics that companies use are: <ul><li>Market size </li></ul><ul><li>Market share </li></ul><ul><li>Market penetration </li></ul><ul><li>Installed base </li></ul><ul><li>Product usage </li></ul><ul><li>Customer attitudes </li></ul><ul><li>Brand awareness </li></ul><ul><li>Advertising awareness </li></ul><ul><li>Brand image </li></ul><ul><li>Customer satisfaction </li></ul>
  45. 45. Example Marketing Metrics <ul><li>Tracking downloads or Web site visitors </li></ul>
  46. 46. 9. _____ quantifies, compare and interpret marketing performance. <ul><li>Marketing Research </li></ul><ul><li>Marketing Demand </li></ul><ul><li>Marketing Dashboard </li></ul><ul><li>Marketing Measurement </li></ul><ul><li>Marketing Metrics </li></ul>
  47. 47. 10. The following are Questionnaire Do’s and Don'ts except: <ul><li>Avoid negative </li></ul><ul><li>Avoid jargon </li></ul><ul><li>Avoid hypotheticals </li></ul><ul><li>Avoid ambitious words </li></ul><ul><li>Avoid sophisticated words </li></ul>
  48. 48. Questionnaire Do’s and Don'ts
  49. 49. Ambiguous <ul><li>lacking clearness or definiteness; obscure; indistinct: </li></ul><ul><li>open to or having several possible meanings or interpretations; </li></ul>
  50. 50. Ambitious <ul><li>- Eagerly desirous of achieving or obtaining success, power, wealth, a specific goal, etc. </li></ul>
  51. 51. 10. The following are Questionnaire Do’s and Don'ts except: <ul><li>Avoid negative </li></ul><ul><li>Avoid jargon </li></ul><ul><li>Avoid hypotheticals </li></ul><ul><li>Avoid ambitious words </li></ul><ul><li>Avoid sophisticated words </li></ul>
  52. 52. TOP 10 Learning Questions for Ch 4: Conducting Marketing Research and Forecasting Demand Ma Alexandria Bulaon December 16, 2011

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