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Marketing research ppt @ mba

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Marketing research ppt @ mba

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Marketing research ppt @ mba

  1. 1. Marketing Research <ul><li>Def. - Formal communication link with the environment to provide accurate and useful information for better decision making. </li></ul><ul><li>Systematic process of specifying, collecting, analyzing, and interpreting. </li></ul><ul><li>Useful for planning, problem-solving, and controlling (see Exhibits 1.1) </li></ul>
  2. 2. Application of MR <ul><li>Marketing research activities can be divided into four main strategic categories: </li></ul><ul><ul><li>Market Analysis </li></ul></ul><ul><ul><ul><li>Identifying and evaluating opportunities </li></ul></ul></ul><ul><ul><ul><li>Competitive Analysis </li></ul></ul></ul><ul><ul><li>Market Segmentation </li></ul></ul><ul><ul><ul><li>Analyzing market segments and selecting target markets </li></ul></ul></ul><ul><ul><li>Marketing Strategy Design </li></ul></ul><ul><ul><ul><li>Planning and implementing a marketing mix </li></ul></ul></ul><ul><ul><li>Analyzing Marketing Performance </li></ul></ul>
  3. 3. Managerial Value of MR <ul><li>Value </li></ul><ul><li>Relevance </li></ul><ul><li>Quality </li></ul><ul><li>Timeliness </li></ul><ul><li>Completeness </li></ul><ul><li>Data vs. Information vs. Knowledge </li></ul>
  4. 4. Science or Art? <ul><li>Objectivity of Investigator </li></ul><ul><ul><li>Unbiased </li></ul></ul><ul><ul><li>Procedural integrity </li></ul></ul><ul><ul><li>Accurate reporting </li></ul></ul><ul><li>Accuracy of Measurement </li></ul><ul><ul><li>Valid and Reliable </li></ul></ul><ul><ul><li>Meaningful and useful </li></ul></ul><ul><ul><li>Appropriate design (sample, execution) </li></ul></ul><ul><li>Open-minded to Findings </li></ul><ul><ul><li>Willing to refute expectations </li></ul></ul><ul><ul><li>Acknowledge limitations </li></ul></ul>
  5. 5. Difficulties of Achieving “Scientific Studies” in Marketing <ul><li>Investigator is deeply involved in the use of the results. </li></ul><ul><li>Imprecise measuring devices </li></ul><ul><li>Very complex and interrelated subject matter </li></ul><ul><li>Difficulty using experiments </li></ul><ul><li>Influence of the measurement process on results </li></ul><ul><li>Time pressure for results </li></ul>
  6. 6. The Research Process <ul><li>Define the Research Problem </li></ul><ul><li>Determine Research Design and Data Sources </li></ul><ul><li>Develop Sample Design and Sample Size </li></ul><ul><li>Develop Measurement Instruments </li></ul><ul><li>Collect and Prepare Data </li></ul><ul><li>Analyze and Interpret Data </li></ul><ul><li>Communicate Results </li></ul>
  7. 7. Step 1: Identifying and Formulating the Research Problem/Opportunity <ul><li>Process begins with the recognition of a marketing problem or opportunity: </li></ul><ul><ul><li>Marketing Problem : Set of circumstances in a market and/or in the company that requires modified or new marketing strategy to respond in a way that will maintain or improve performance. </li></ul></ul><ul><ul><li>Market Opportunity : Set of circumstances in a market that defines a situation in which a company can improve performance by creating modified or new marketing strategy. </li></ul></ul>
  8. 8. Step 2: Determine the Research Design and Data Sources <ul><li>Exploratory, Descriptive, Causal </li></ul><ul><li>Secondary vs. Primary Data </li></ul><ul><li>Survey research </li></ul><ul><li>Observation research </li></ul><ul><li>Focus Groups </li></ul><ul><li>Experiments </li></ul>
  9. 9. Step 3: Design Sample <ul><li>Sample: a subset from a larger population </li></ul><ul><li>Probability vs. nonprobability sample </li></ul><ul><li>Number of respondents </li></ul><ul><li>Method of contact </li></ul><ul><li>Management of non-response </li></ul><ul><li>Detailed field instructions </li></ul><ul><li>Handling of data </li></ul>
  10. 10. Step 4: Develop Measurement Instruments <ul><li>What observation form or questionnaire will be best suit the needs of the project? </li></ul><ul><li>Anonymous? Confidential? </li></ul><ul><li>Structured vs. open-ended </li></ul><ul><li>What types of rating scales? </li></ul><ul><li>What is the layout going to look like? </li></ul>
  11. 11. Step 5: Collect and Prepare Data <ul><li>Editing and Coding </li></ul><ul><li>Data Entry </li></ul><ul><li>Data Cleansing </li></ul><ul><li>Summarization </li></ul><ul><li>Error Assessment </li></ul><ul><li>Reliability/Validity </li></ul>
  12. 12. Step 6: Analyzing the Data <ul><li>Purpose of the analysis is to interpret and draw conclusions from the mass of collected data </li></ul><ul><li>Must select appropriate analytic tools to match data, research objectives, and information needs </li></ul>
  13. 13. <ul><li>Researchers must remember to speak in managerial terms rather than in the terminology understood only by research specialists </li></ul><ul><li>Reports should outline technical details of the research project and methods in an appendix, if at all </li></ul><ul><li>Researchers should spell out their conclusions in clear, concise, and actionable terms </li></ul><ul><ul><li>Be open-minded to findings, be willing to refute expectations, and acknowledge limitations. </li></ul></ul>Step 7: Communicating Results

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