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Marketing research

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Marketing research

  1. 1. Lecture 1IntroductionDr. Steven Lu
  2. 2. Teaching Staff  Dr Steven Lu  Economics & Business Bldg, Level 5, Room 503  Tel: 90365260  Email: Steven.Lu@sydney.edu.au  Consultation: Tuesday 1-3pm or by appointment2
  3. 3. Dr Steven Lu Education  M.A. in Economics, York Uni., Canada  Ph.D. in Marketing, Uni. of Toronto, Canada Published in Marketing Science and Statistical Science Presented papers at many conferences in Australia, New Zealand, Singapore, Europe, Canada, and the US. Awarded the 2009 ANZMAC Emerging Researcher of the Year Award. Consulted for many companies and organizations (e.g., Oracle, Dell, Sydney City Toyota, hotels, and gaming clubs).
  4. 4. This class Introduce the course  Objectives  Structure  Assessments What is marketing research? Ethics in marketing research
  5. 5. Class Times and Locations Weeks 1-6: Badham 145 Tutorial Room 2 Weeks 7-13: Economics & Business Laboratory 4
  6. 6. Course Objectives Introduce the applied research tools used by marketers Learn the fundamentals of producing quality market research Increase sensitivity to the biases and limitations of marketing data
  7. 7. Text Prescribed Text: McDaniel and Gates, Marketing Research, 9th edition, Sydney, Wiley & Sons (ISBN 9781118074619) Recommended Text: Coakes, et al. SPSS v.20 for Windows: Analysis without Anguish, Sydney, John Wiley & Sons (ISBN 9781118337769)
  8. 8. GradingGrading Breakdown:Exam #1 20%Exam #2 30%Term Project: Stage 1 20% Stage 2 20%Class Participation 10%Total 100%Unless otherwise specified, all assignments must be submittedin hard copy, and electronically, via Blackboard
  9. 9. Exams Two exams (week 7 and finals period) Exams are not cumulative Exams are closed book and notes Variety of question types (not decided yet)  Closed form tend to come from text  Essay come from lecture and text
  10. 10. Term Project In Australia, only a very small percentage (around 2-3%) of the eligible population donates blood. This year’s term project will focus on how to broaden the blood donor base of the Australian Red Cross Blood Service (ARCBS).http://www.youtube.com/watch?v=86yxeFF5RC8 Groups (3 – 4 students) will work together (Hands-on experience learning about a common consumer behaviour) Projects involve two stages:  Stage 1: Planning & executing market research  Stage 2: Analysing quantitative data Stages due dates listed on syllabus
  11. 11. Class Participation To promote a learning and knowledge sharing atmosphere, students are encouraged to prepare and participate in class discussions. Marks awarded will be based on one’s preparation and contributions during class discussions. Students will also be provided with opportunities to discuss their research & learning experiences through engagement of the term project. This includes two key activities: Survey Critique  Each of you needs to critique a survey assigned to you (due week 8). Survey Completion  Each of you needs to finish a survey online as a respondent (due week 9).
  12. 12. Topic scheduleWeek Lecture Topic Readings1 Course Intro Chap 1, 24 Mar2 Research Process Chap 3, 411 Mar Secondary Data Research3 Qual Res: Focus Group Chap 5, 818 Mar interviews Observational Res.4 Survey Research Chap 6, 1225 Mar Common week 1 to 7 Apr
  13. 13. Topic scheduleWeek Lecture Topic Readings 5 Measurement Chap 10,11 8 Apr6 Revision15 Apr7 Exam 122 Apr8 Online data collection Chap 729 Apr Sampling Chap 13 9 Experimentation Chap 9 6 May10 Data Coding & Preparation Chap 1513 May Data Analysis: Descriptive Analysis
  14. 14. Topic scheduleWeek Lecture Topic Readings11 Data Analysis: Testing for Chap 1620 May Difference T-tests12 Data Analysis: Testing for Chap 1827 May Association Correlation Analysis Regression Analysis13 Revision3 JunExam Period Exam 2
  15. 15. Intro. to marketing research
  16. 16. Reviving an Ailing Giant---Chrysler Founded by Walter P. Chrysler in 1925 In 1979 The Chrysler Corporation petitioned the US government for $US1.5 billion loan to avoid bankruptcy. In the early 1980s, Chrysler was fighting for survival By marketing research its marketing department found that consumers needed “a reliable, spacious and convenient mode of transportation”. http://www.youtube.com/watch?v=afvn- 2NJSy8&feature=related
  17. 17. Marketing Research Defined Marketing Research is the function that links the consumer, customer, and public to the marketer through information that is used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications. (AMA)Broadly, Marketing Research is the planning, collection, and analysisof data relevant to marketing decision making and the communicationof the results of this analysis to management.
  18. 18. Marketing Research Associations Australian Market & Social Research Society (AMSRS)  http://www.amsrs.com.au/ American Marketing Research Association (RMA)  http://www.mra-net.org/about/index.cfm European Society for Opinion and Marketing Research (ESOMAR)  http://www.esomar.org/
  19. 19. The Marketing Research Impact Its Importance to Management – Three Critical Roles Descriptive: • The gathering and presenting of statements of fact; Diagnostic: • The explanation of data or actions;Predictive: • The specification of how to use descriptive and diagnostic research to predict the results of a planned marketing decision.
  20. 20. Types of Research Studies Applied BasicResearch aimed at solving a Research aimed at expandingspecific, pragmatic problem— the frontiers of knowledgebetter understanding of the rather than solving a specific,marketplace, determination of pragmatic problem.why a strategy or tactic failed,or reduction of uncertainty inmanagement decision making.
  21. 21. Harrahs Entertainment Inc History of Las Vegas  1950s: Flamingo (Benjamin Siegel)  1980s: Mirage (Stephen Wynn) Harrah’s: Founded by William Harrah in 1937 Gary Loveman  Who was a professor at HBS  Joined Harrah’s as COO in 1998  Built CRM (Database marketing & Loyalty Card Program)  Profit doubled at the end of 1999
  22. 22. Decision to Conduct Marketing Research• It is not always a good idea to conduct marketing research. Reconsiderconducting marketing research under the following circumstances:  The resources are lacking to do proper research;  The research results might not be useful to management;  The opportunity has passed;  The decision has already been made;  Managers cannot agree on what they need to know to make a decision;  Decision-making information already exists;  The research cost outweighs the benefits of the research;  You do not have the time to do the research right;
  23. 23. The Development of Marketing Research Understanding the Historical Context Mature Years - 1950-Present: • Change from seller’s market to buyer’s market is key •1960s predictive and descriptive mathematics employed Adolescent Years - 1920-1950: • A.C. Nielsen begins research in 1922 • 1940s focus groups and random sampling selection begin Early Growth - 1900-1920: • Curtis Publishing started first research department in 1911 • Recall measures and scaling introducedInception - Pre-1900: • Harrisburg, PA - first research survey in 1824 • Mail surveys introduced in 1895 with 10% response rate
  24. 24. Top 40 Marketing Research Firms 2-6
  25. 25. Marketing Research Ethics Suppliers Should not Engage in:• Allowing subjectivity into the research• Violating client and respondent confidentiality;• Selling unnecessary research• Using Professional Respondents;• Failing to Properly Validating the Data;• Using Others’ Research as Original Work;
  26. 26. Marketing Research Ethics Clients Should Not Engage in:• Requesting Bids When a Supplier Has Been Predetermined;• Requesting Bids to Obtain Free Advice and Methodology;• Requesting Proposals without Authorization;
  27. 27. Next Class Research Process Secondary Data

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