Research

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Research

  1. 1. <ul><li>Marketing Research </li></ul>
  2. 2. Exam Type Questions <ul><li>Explain the importance of information to the company and its understanding of the marketplace. </li></ul><ul><li>Outline the steps in the marketing research process. </li></ul><ul><li>What is meant by primary and secondary data? </li></ul>
  3. 3. Managing Marketing Information <ul><li>Information needs of organization: customer value & satisfaction </li></ul><ul><li>Competitors, resellers, and other forces in the marketplace </li></ul><ul><li>Wal-Mart daily data equivalent to 96000 DVDs </li></ul><ul><li>Marketers need better information </li></ul><ul><li>Marketing information system: consists of people, equipment, and procedures to gather, sort, analyze, evaluate and distribute needed, timely, and accurate information to marketing decision makers. </li></ul>
  4. 4. Developing Information <ul><li>Internal databases: electronic collection of consumer and market information obtained from data sources within the company network. </li></ul><ul><li>Accounting department keeps detailed records of sales, costs, and cash flows. </li></ul><ul><li>Operations department reports on production schedules, shipments, and inventories. </li></ul><ul><li>Marketing department furnishes information on customer transactions, demographics, psychographics, and buying behavior. </li></ul><ul><li>Pizza Hut database: 40 million US households gleaned from 7,500 restaurants. Coupon offers on the basis of data. </li></ul>
  5. 5. <ul><li>Quickly and easily developed </li></ul><ul><li>May be incomplete and not serve specific purpose </li></ul>
  6. 6. Marketing Intelligence <ul><li>The systematic collection and analysis of publicly available information about competitors and developments in the marketing environment </li></ul>
  7. 7. Marketing Intelligence <ul><li>Quizzing employees </li></ul><ul><li>Benchmarking products </li></ul><ul><li>Researching the internet </li></ul><ul><li>Trade shows and exhibitions </li></ul><ul><li>Annual reports </li></ul><ul><li>Business publications and ads </li></ul><ul><li>Trash bins routing </li></ul><ul><li>Microsoft vs Google example </li></ul>
  8. 8. Marketing Research <ul><li>Formal studies of specific situations </li></ul><ul><li>Samsung Plasma, Pizza Hut sales </li></ul><ul><li>Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. </li></ul><ul><li>Market potential, market share, formulate marketing mix strategy </li></ul><ul><li>Own research department, consultants, research companies (ACNielson) </li></ul>
  9. 9. Marketing Research Process <ul><li>Involves four steps: defining the problem and research objectives, developing the research plan, implementing the research plan, and interpreting and reporting the findings. </li></ul>
  10. 10. Defining the Problem and Research Objectives <ul><li>A difficult ask: the manager may know that something is wrong, without knowing the specific causes. </li></ul><ul><li>Once problem defined, research objectives must be set. </li></ul><ul><li>Exploratory research: to gather preliminary information that will help define problems and suggest hypotheses. </li></ul><ul><li>Descriptive research: to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of customers. </li></ul><ul><li>Causal research: to test hypotheses about cause and effect relationship. For example, would 10 % decrease in tuition fee result in an enrollment increase. </li></ul>
  11. 11. Defining the Research Plan <ul><li>Specific information needs </li></ul><ul><li>Existing data and spells specific research approaches, contact methods, sampling plans and instruments to gather data </li></ul><ul><li>Campbell soup example </li></ul><ul><li>Written proposal contains research costs </li></ul>
  12. 12. Secondary Data <ul><li>Information that already exists somewhere, having been collected for other purpose. </li></ul><ul><li>Internal data bases, buying secondary reports, online data bases (Dialog, ProQuest, LexisNexis) </li></ul><ul><li>Can be obtained more quickly at lower cost </li></ul><ul><li>Needed information may not exist </li></ul>
  13. 13. Primary Data <ul><li>Information collected for the specific purpose at hand. </li></ul><ul><li>Relevant, accurate, current and unbiased </li></ul><ul><li>Collection of primary data may involve research approaches, contact methods, sampling plan, and research instruments. </li></ul>
  14. 14. Research Approaches <ul><li>Observational research: the gathering of primary data by observing relevant people, actions, and situations. </li></ul><ul><li>Example bank (neighborhood conditions, location of competing branches, traffic routes) </li></ul>
  15. 15. Ethnographic Research <ul><li>A form of observational research that involves sending trained observers to watch and interact with consumers in their “natural habitat” Example Marriot hotel </li></ul>
  16. 16. Survey Research <ul><li>Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior. </li></ul>
  17. 17. Experimental Research <ul><li>Gathering primary data by selecting matched groups of subjects giving them different treatments, controlling related factors, and checking differences in groups. </li></ul>
  18. 18. Contact Methods <ul><li>Mail </li></ul><ul><li>Telephone </li></ul><ul><li>Personal Interviewing </li></ul><ul><li>Focus groups interviewing </li></ul><ul><li>Online marketing research </li></ul>
  19. 19. Sampling Plan <ul><li>Drawing conclusions about large group of customers by studying a small sample of the total consumer population. </li></ul><ul><li>Sampling decision for a car </li></ul>
  20. 20. Probability Sample <ul><li>Simple random sample: every member of the population has a known and equal chance of selection. </li></ul><ul><li>Stratified random sample: the population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group </li></ul><ul><li>Cluster (area) sample: the population is divided into mutually exclusive groups (such as blocks), and the researchers draws a sample of the groups to interview </li></ul>
  21. 21. Non Probability Sample <ul><li>Convenience sample: the researcher selects the easiest population members from which to obtain information </li></ul><ul><li>Judgment sample: the researcher uses his or her judgment to select population members who are good prospects of accurate information. </li></ul><ul><li>Quota sample: the researcher finds and interviews a prescribed number of people in each of several categories </li></ul>
  22. 22. Research Instrument <ul><li>Questionnaire </li></ul><ul><li>Mechanical devices </li></ul>
  23. 23. Implementing the Research <ul><li>Collecting, processing and analyzing information </li></ul><ul><li>Isolate important information </li></ul><ul><li>Tabulate results </li></ul>
  24. 24. Interpreting and Reporting the Findings <ul><li>Interpret findings, draw conclusion and report them to management. </li></ul><ul><li>Mangers too have to interpret information </li></ul><ul><li>Both share responsibility </li></ul>

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