Session 5 MG 220 BBA - 23 Aug 10


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Session 5
MG 220 Marketing Management
BBA Section C

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Session 5 MG 220 BBA - 23 Aug 10

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