Bmgt 205 chapter_10

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Bmgt 205 chapter_10

  1. 1. BMGT 205: Principles of Marketing Chapter 10: Marketing Research
  2. 2. Marketing Research
  3. 3. http:// demographics.coopercenter. org/DotMap/index.html
  4. 4. 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
  5. 5. Step 1: Defining Objectives 
 and Research Needs What information is needed to answer specific research questions? How should that information be obtained?
  6. 6. Step 2: Designing the Research Type of data Type of research
  7. 7. Step 3: Data Collection Process Secondary data Primary data
  8. 8. Step 4: Analyzing Data 
 and Developing Insights Converting data into information to explain, predict and/or evaluate a particular situation.
  9. 9. Data Visualization Examples
  10. 10. Data Visualization Examples
  11. 11. Data Visualization Examples
  12. 12. Step 5: Action Plan and Implementation Executive Summary Body Conclusions Limitations Supplements including tables, figures, appendices
  13. 13. CHECK YOURSELF 1. What are the steps in the marketing research process? 2. What is the difference between data and information?
  14. 14. External Secondary Data: Free
  15. 15. External Secondary Data: Cost Syndicated Data Panel Research Scanner Research
  16. 16. Internal Secondary Data Data Warehouse Data Mining
  17. 17. CHECK YOURSELF 1. What is the difference between internal and external secondary research?
  18. 18. 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
  19. 19. CHECK YOURSELF 1. What are the types of qualitative research? 1. What are the types of quantitative research?
  20. 20. 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
  21. 21. 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.
  22. 22. 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.

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