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    Bmgt 205 chapter_10 Bmgt 205 chapter_10 Presentation Transcript

    • BMGT 205: Principles of Marketing Chapter 10: Marketing Research
    • Marketing Research
    • http:// demographics.coopercenter. org/DotMap/index.html
    • The Marketing Research Process Defining the objectives and research needs Designing the research Data collection process Analyzing data and 
 developing insights Action plan and implementation
    • Step 1: Defining Objectives 
 and Research Needs What information is needed to answer specific research questions? How should that information be obtained?
    • Step 2: Designing the Research Type of data Type of research
    • Step 3: Data Collection Process Secondary data Primary data
    • Step 4: Analyzing Data 
 and Developing Insights Converting data into information to explain, predict and/or evaluate a particular situation.
    • Data Visualization Examples
    • Data Visualization Examples
    • Data Visualization Examples
    • Step 5: Action Plan and Implementation Executive Summary Body Conclusions Limitations Supplements including tables, figures, appendices
    • CHECK YOURSELF 1. What are the steps in the marketing research process? 2. What is the difference between data and information?
    • External Secondary Data: Free
    • External Secondary Data: Cost Syndicated Data Panel Research Scanner Research
    • Internal Secondary Data Data Warehouse Data Mining
    • CHECK YOURSELF 1. What is the difference between internal and external secondary research?
    • Qualitative versus Quantitative
 Data Collection Techniques Qualitative research Observation Quantitative research Experiments In-Depth interviews Survey Panel Scanner Data collection research Social media Focus groups
    • CHECK YOURSELF 1. What are the types of qualitative research? 1. What are the types of quantitative research?
    • Advantages and Disadvantages of Secondary and Primary Data Type Examples Advantages Disadvantages Secondary Research ❑Census data ❑Sales invoices ❑Internet information ❑Books ❑Journal articles ❑Syndicated data ❑Saves time in collecting data because they are readily available ❑Free or inexpensive (except for syndicated data) ❑May not be precisely relevant to information needs ❑Information may not be timely ❑Sources may not be original, and therefore usefulness is an issue ❑Methodologies for Primary Research ❑Observed consumer behavior ❑Focus group interviews ❑Surveys ❑Experiments ❑Specific to the immediate ❑data needs and topic at hand ❑Offers behavioral insights ❑generally not available from ❑secondary research ❑Costly ❑Time consuming ❑Requires more sophisticated ❑training and experience to design ❑study and collect data
    • Key Terms • Data are raw numbers or other factual information that, on their own, have limited value to marketers. • Experimental research is a type of quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on another variable. • Marketing research consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.
    • Key Terms • Panel research is a type of quantitative research that involves collecting information from a group of consumers (the panel) over time. • Scanner research is a type of quantitative research that uses data obtained from scanner readings of UPC codes at check-out counters. • A survey is a systematic means of collecting information from people that generally uses a questionnaire. • Syndicated data are data available for a fee from commercial research firms such as Information Resources Inc. (IRI), National Purchase Diary Panel, and ACNielsen.