Applied Marketing Research: An Introduction

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Slides for a lecture delivered by Dr. Kelly Page introducing Applied Marketing Research. What is it? Why it is important? How it is evolving?

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  • 20/08/10
  • 20/08/10
  • 20/08/10
  • 20/08/10
  • 20/08/10
  • 20/08/10
  • Applied Marketing Research: An Introduction

    1. 1. The Role of Marketing Research in Management Decision Making Week 1 (1) Dr. Kelly Page Cardiff Business School E: pagekl@cardiff.ac.uk T: @drkellypage T: @caseinsights FB: kelly@caseinsights.com
    2. 2. <ul><li>Review the marketing concept and the marketing mix; </li></ul><ul><li>Comprehend the marketing environment within which managers must make decisions; </li></ul><ul><li>Define marketing research; </li></ul><ul><li>Understand the importance of marketing research in shaping marketing decisions; </li></ul><ul><li>Learn when marketing research should and should not be conducted; </li></ul><ul><li>Understand the history of marketing research. </li></ul>Lecture Objectives
    3. 3. <ul><li>Marketing: “ The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” </li></ul>The Nature of Marketing Marketing Concept Systems Goals Customer Marketing Mix Orientations
    4. 4. <ul><ul><li>Marketing research is the planning, collection, and analysis of data and information relevant to marketing decision making and the communication of the results of this analysis throughout the organisations and/or its stakeholders </li></ul></ul><ul><li>Opportunistic Nature of Marketing Research </li></ul><ul><ul><ul><li>Identify the market and/or community of interest </li></ul></ul></ul><ul><ul><ul><li>Helps in decision making for resource allocation </li></ul></ul></ul><ul><li>The External Marketing Environment </li></ul><ul><ul><ul><li>Marketing research is the key to understanding the environment </li></ul></ul></ul><ul><ul><ul><li>Provides information for altering marketing decisions </li></ul></ul></ul><ul><ul><ul><li>Identifies new opportunities and threats </li></ul></ul></ul>Marketing Research Defined
    5. 5. <ul><li>Its Importance to Management – Three Critical Roles </li></ul><ul><li>Descriptive: </li></ul><ul><ul><li>The gathering and presenting of statements of fact; </li></ul></ul><ul><li>Diagnostic: </li></ul><ul><ul><li>The explanation of data or actions; </li></ul></ul><ul><li>Predictive: </li></ul><ul><ul><li>The specification of how to use descriptive and diagnostic research to predict the results of a planned marketing decision. </li></ul></ul>Marketing Research Impact Critical Roles:
    6. 6. Types of Research Studies <ul><li>APPLIED (Commercial) </li></ul><ul><li>Research aimed at solving a specific pragmatic problem </li></ul><ul><li>To better understand the market. </li></ul><ul><li>E.g., better understanding of the marketplace, determining why a strategy or tactic failed, or reduction of uncertainty in management decision making. </li></ul><ul><li>BASIC (Academic) </li></ul><ul><li>Research aimed at expanding the frontiers of knowledge rather than for solving a specific problem. </li></ul><ul><li>To contribute to knowledge. </li></ul><ul><li>E.g., Research done for research sake. Universities, and other grant recipients, often conduct basic research. Sometimes called “pure” research. </li></ul>Applied Basic Can use a combination of both.
    7. 7. <ul><li>Research conducted to develop marketing options through market, market opportunity analyses, or consumer attitude and product usage studies (e.g., market segmentation) </li></ul><ul><li>Research used to test decision alternatives (e.g., new product testing) </li></ul><ul><li>Research done to assess program performance (e.g., ad tracking) </li></ul>Applied Research Types Programmatic Selective Evaluative
    8. 8. Decision to Conduct Marketing Research <ul><li>Reasons NOT to conduct marketing research: </li></ul><ul><ul><li>Resources are lacking; </li></ul></ul><ul><ul><li>Research results would not be useful to management; </li></ul></ul><ul><ul><li>Opportunity has passed; </li></ul></ul><ul><ul><li>The decision has already been made; </li></ul></ul><ul><ul><li>Managers cannot agree on what they need to know; </li></ul></ul><ul><ul><li>Decision-making information already exists; </li></ul></ul><ul><ul><li>The costs of conducting research outweigh the benefits; </li></ul></ul><ul><ul><li>You do not have the time to do the research right; </li></ul></ul><ul><ul><li>The research results will likely only be shelved. </li></ul></ul>
    9. 9. Decision to Conduct Marketing Research <ul><li>To Research or Not to Research? </li></ul><ul><li>Had marketing research been around in the 16th century, Shakespeare would have wisely considered: </li></ul>Cost likely greater than benefit - research might be unwise Small Profit Large Profit Small Market Size Large Market Size Cost likely lower than benefit.but market size might be limiting - research might be wise Benefits likely greater than costs and market size offers potential - research might be wise Benefits will most certainly outweigh costs - research is likely most profitable here
    10. 10. The Development of Marketing Research <ul><li>Understanding the Historical Context </li></ul><ul><li>Inception - Pre-1900: </li></ul><ul><ul><li>Harrisburg, PA - first research survey in 1824 </li></ul></ul><ul><ul><li>Mail surveys introduced in 1895 with 10% response rate </li></ul></ul><ul><li>Early Growth - 1900-1920: </li></ul><ul><ul><li>Curtis Publishing started first research department in 1911 </li></ul></ul><ul><ul><li>Recall measures and scaling introduced </li></ul></ul><ul><li>Adolescent Years - 1920-1950: </li></ul><ul><ul><li>A.C. Nielsen begins research in 1922 </li></ul></ul><ul><ul><li>1940s focus groups and random sampling selection begin </li></ul></ul><ul><ul><li>WWII gets social scientist into marketing research </li></ul></ul><ul><li>Mature Years - 1950-Present: </li></ul><ul><li>Change from seller’s market to buyer’s market is key </li></ul><ul><li>Market segmentation techniques develop </li></ul><ul><li>1960s predictive and descriptive mathematics employed </li></ul><ul><li>1990s OTC software enables masses to analyze data </li></ul>
    11. 11. 2000+ Impact of Technology Task: To acquire secondary data and/or information about stakeholders <ul><li>Access secondary data </li></ul><ul><li>Web; CD-ROMs; Open Source </li></ul><ul><li>Distribute secondary data </li></ul><ul><li>Channel: Web; Email; Removable storage devices (i.e., Zip drives); Format: PDF, Word document, Excel spreadsheet etc. </li></ul>Task: To acquire primary data and/or information about stakeholders <ul><li>Surveys </li></ul><ul><li>Telephone; Facsimile; Personal Computers ; Specialist Hardware & Software (e.g., CATI/CAPI); Email; Web/Internet </li></ul><ul><li>Focus Groups & Depth Interviews </li></ul><ul><li>Video & Audio Equipment; Computer hardware technologies (e.g., notebooks); Software technologies (e.g., word processing, database); Chat Rooms, News groups; Conferencing Software; </li></ul><ul><li>Observation </li></ul><ul><li>People Meter; Geographic Information Systems (GIS); Electronic turnstiles, traffic counters & Optical mark scanners; Internet tracking software (cookies); Promotion tracking systems & software; Social Media, Netnography </li></ul>Task: To store, manage and/or analyse secondary and/or primary stakeholder data Data Management <ul><li>Marketing Information Systems (MkIS); Database or warehousing Systems; Graphic Development Software (CAD) </li></ul>
    12. 12. Lecture Summary <ul><li>Lecture Objectives </li></ul><ul><li>The Nature of Marketing Research </li></ul><ul><li>Marketing Research Defined </li></ul><ul><li>The Marketing Research Impact </li></ul><ul><li>Return on Quality </li></ul><ul><li>Marketing Strategy </li></ul><ul><li>Types of Research Studies </li></ul><ul><li>Applied Research Types </li></ul><ul><li>Decision to Conduct Marketing Research </li></ul><ul><li>The Development of Marketing Research </li></ul><ul><li>Impact of Technology </li></ul><ul><li>Lecture Summary </li></ul>
    13. 13. The content of this work is of shared interest between the author, Kelly Page and other parties who have contributed and/or provided support for the generation of the content detailed within. This work is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 2.0 UK: England & Wales. http://creativecommons.org/ Kelly Page (cc)

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