Session 5 MG 220 BBA - 23 Aug 10

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Session 5
MG 220 Marketing Management
BBA Section C

More in: Business
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  • 1. Part 2: Capturing Market Insights
    > The Marketing Research System
    > The Marketing Research Process
    > QUIZ for Part 1 (Session 1 – 3)
    Class Presentation | Session 5 | 23 Aug 2010
  • 2. The Marketing Research SystemConcept
    Marketing Research: the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company
    Marketing Research firms:
    Syndicated-service research firmsGather information/data and sell it as research reports
    Custom marketing research firmsEngaged to carry-out specific projects. They design the study and then report the findings
    Specialty-line marketing research firmsSpecialized services within Marketing research e.g. online survey execution/management, field interviews etc.
    MG 220 Marketing Management
    2
  • 3. The Marketing Research ProcessSchematic
    MG 220 Marketing Management
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  • 4. The Marketing Research ProcessStep 1: Define the Problem and Research objectives
    Marketing Management defines the problem
    Not too broad
    What features should be in our new blackberry model
    Not too narrow
    Should the internet connectivity be through 3G if we increase plan price by 45%
    Balanced, well-thought and result-oriented
    What should be enhancements in camera, internet and messenger services compared to existing blackberry
    MG 220 Marketing Management
    4
  • 5. The Marketing Research ProcessStep 2: Develop the Research plan
    Most efficient plan for gathering information
    Decisions for:
    Data sources
    Research Approaches
    Research Instruments
    Sampling Plan
    Contact Methods
    MG 220 Marketing Management
    5
  • 6. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)
    Decisions for:
    Data sources
    Secondary data – collected for another purpose
    Readily available | Good starting point | Low cost
    Research from past models | competitor analysis
    Primary data – specifically for this project
    Focus of Main research | critical information
    Needs to be designed completely based on given problem
    MG 220 Marketing Management
    6
  • 7. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)
    Decisions for:
    Research Approaches
    Observational Research
    Unobtrusive observing of customers(video/voice recorder at service desk selling Blackberry)
    Focus Group Research
    Gathering of consumers for discussing the problem. Carefully selected and observed (existing customers of blackberry services can be invited)
    Survey Research
    Learning more about consumers. Mass activity(A survey among existing blackberry users)
    Behavioral data
    Purchasing behavior data or usage data or preference data(Data from datacenters showing what is usage of different functions)
    Experimental Research
    A small activity emulating real product/service and getting feedback(Few prototypes given to selected consumers and their behavior/feedback is observed)
    MG 220 Marketing Management
    7
  • 8. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)
    Decisions for:
    Research Instruments
    Questionnaires
    A set of questions | carefully developed and tested before circulation
    Closed-end questions: MCQs | Open-ended questions: descriptive(A questionnaire developed for users)
    Qualitative measures
    Qualitative analysis of consumers’ behaviors, activities and interpretation.
    May involve psychological tests related to product and their reactions.
    Possible only for very small group (observe consumers using phones)
    Mechanical devices
    Devices (galvanometers, eye cameras) to observe user’s reaction on exposed to product(view user’s experience on seeing a prototype)
    MG 220 Marketing Management
    8
  • 9. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)
    Decisions for:
    Sampling Plan
    Sampling Unit
    Who is to be surveyed
    Based on product, problem etc. decision about who is going to form sample(High-end users, corporate clients, access to data networks)
    Sample size
    How many people to be surveyed
    Again based on requirements, budget etc.
    General rule: Larger sample => better results(e.g. Total Blackberry user base in Pakistan: 100,000, Sample: 1,000)
    Sampling Procedure
    How respondents shall be chosen
    Probability sampling (simple random, stratified random, cluster sample)
    Non-probability sampling (Convenience, judgment, quota)(convenience and judgment sampling for blackberry users)
    MG 220 Marketing Management
    9
  • 10. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)
    Decisions for:
    Contact Methods
    Mail Questionnaire
    Access to people who cannot or do not want to be interviewed
    Simple questionnaire is to be used
    Very low response rate(send a questionnaire to existing user with monthly invoice)
    Telephonic interview
    Quick and convenient. Questions might be clarified easily
    Response rate is good | but cannot be too long or personalized(e.g. make a call to 500 of Blackberry users and take 1-2minutes interview)
    Personal interview
    Most versatile and elaborate method
    Most expensive and requires lot of administrative work
    Arranged (meeting) | Intercept (in malls etc)(Interviewing at service centers when use r is there for some other purpose)
    Online interview
    Efficient and highly used
    inexpensive | faster | More ‘honesty’ | Versatile using technology
    Small and skewed sample | technological problems(Use online advertising or even website to request a survey)
    MG 220 Marketing Management
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  • 11. The Marketing Research ProcessStep 3: Collect the information
    This is the execution of Step 2
    Most expensive and most prone to error
    Errors can be:
    Respondents not available. Need to re-engage
    (typical for high-end clients)
    Respondents refuse to cooperate
    (typical for high-end clients)
    Give dishonest or biased answers
    (biased because of very recent experience)
    Interviewers can be biased or dishonest
    (just filling false information)
    Still: Getting the right respondents is critical
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  • 12. The Marketing Research ProcessStep 4: Analyze the information
    Data tabulation
    Frequency distributions
    Statistical analysis
    Discover!
    MG 220 Marketing Management
    12
  • 13. The Marketing Research ProcessStep 5: Present the Findings
    Researchers’ findings
    Related to management’s defined problem
    Irrelevant information not required
    (Give a finding of what features are wanted by what kind of customers-users, new users, age-wise etc.)
    MG 220 Marketing Management
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  • 14. The Marketing Research ProcessStep 6: Make the Decision
    Management’s task
    Based on what researcher has provided
    (Marketing and Product Development team takes the final decision based on available results and information)
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  • 15. The Marketing Research ProcessOvercoming barriers to use of Marketing Research
    Narrow conception of research
    Uneven (or even low) caliber of researchers
    Poor farming of the problem
    Late and occasionally erroneous findings
    Personality and presentational differences
    MG 220 Marketing Management
    15
  • 16. QUIZ # 1 | 23 Aug 2010
    Related to Part 1 (Chapter 1 & 2)
    Time: 20 Mins
    MG 220 Marketing Management
    16
  • 17. Part 2: Capturing Market Insights
    > Measuring Marketing Productivity
    > Forecasting and Demand Measurement
    Class Presentation | Session 6 | 25 Aug 2010