Chapter 4 - Marketing Research Process


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Chapter 4 - Marketing Research Process

  1. 1. MARKETING MANAGEMENT Chapter 4 – Marketing Research Process
  2. 2. Marketing Problem - 1  A restaurant chain wants to estimate eating out habit of students in IBS Campus.
  3. 3. Marketing Problem - 2  A magazine distribution house wants to know how many people read a specific magazine while travelling.
  4. 4. Marketing Problem - 3  A company wants to assess its advertising effectiveness.
  5. 5. Marketing Problem - 4  What are the reasons behind shipping cart abandonment? What are the possible remedies to counter shipping cart abandonment?
  6. 6. Marketing Problem - 5  Assume you are interested in opening a children’s retail clothing store specializing in upscale children’s fashions for newborn through 10-years-olds. You are unsure whether there is enough demand in your area to be profitable. What information you need before making this decision and decide on which sources can provide that information?  Furthermore assume your plan to conduct a survey to better estimate demand for this product
  7. 7. Marketing Research  The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
  8. 8. Marketing Research Process 1. Defining Problems and Research Objectives 2. Develop the Research Plan 3. Collect the Information 4. Analyze the Information 5. Present the Findings 6. Make the Decisions
  9. 9. 1. Defining Problems and Research Objectives  Which type of problem is this?  Do we have clarity about what we want to research?  Strategy:  Think backwards i.e. end-means
  10. 10. Types of marketing research Marketing Research Exploratory Descriptive Causal
  11. 11. 2. Develop the Research Plan  Data sources:  Internal records, primary data and secondary data  Research Approach  Observational Research  Focus Group Research  Survey Research  Behavioral Research  Experimental Research
  12. 12. From Data to Decision
  13. 13. Data Drives Strategy Organizations are drowning in data. Survey results, internal records, private reports, government reports. Click stream data, web analytics, etc. Marketing insight occurs somewhere between information and knowledge.
  14. 14. Soures of data: Internal records Accounting, finance, production and marketing personnel collect and analyze data. Nonmarketing data, such as sales and advertising spending Sales force data Conversion rate, ads effectiveness, tracking customer behavior Customer characteristics and behavior Universal product codes Tracking of user movements through web pages
  15. 15. Secondary data Can be collected more quickly and less expensively than primary data. Secondary data may not meet e-marketer’s information needs. Data were gathered for a different purpose. Quality of secondary data may be unknown. Data may be old. Marketers continually gather business intelligence by scanning the environment.
  16. 16. Public and Private Data Sources •Publicly generated data • U.S. Patent Office • American Marketing Association • Social Media Database •Privately generated data • Well Known Expert’s Blog - Seth Godin’s Blog • Forrester Research • Nielsen/NetRatings • Pew Research Center •Online databases
  17. 17. Competitive Intelligence  Analyzing the industry in which a firm operates as a input to the firms' strategic positioning to understand competitors vulnerability  Sources  Competitors press release  New product launch  New alliances  Co-brands  Trade show activity  Social media conversations  Web site logs  Third-party industry specific sites
  18. 18. Information Quality  Advise to be objective, especially before using information on web pages  Control for cultural differences  Don’t get distracted by website design  Discover the website’s author identity  Try to determine whether the site author is an authority on the web site topic  Check to see when site was last updated  Determine how comprehensive the site is  Try to establish triangulation  Check to site content for accuracy
  20. 20. Primary Data Two electronic sources of primary data collection: Internet Real space Primary data collection on the Net: Experiments Focus groups In-depth interviews Survey research Real-space data collection refers to technology- enabled gathering of information offline.
  21. 21. Online Research Advantages & Disadvantages Advantages Can be fast and inexpensive. Surveys may reduce data entry errors. Respondents may answer more honestly and openly. Disadvantages Sample representativeness. Measurement validity. Respondent authenticity. Researchers are using online panels to combat sampling and response problems.
  22. 22. Other Technology-Enabled Approaches •Client-side Data Collection • Cookies • Use PC meter with panel of users to track the user clickstream. •Server-side Data Collection • Data log software • Real-time profiling tracks users’ movements through a web site.
  23. 23. Real-Space Data Collection, Storage, and Analysis •Offline data collection may be combined with online data. •Transaction processing databases move data from other databases to a data warehouse. •Data collected can be analyzed to help make marketing decisions. • Data Mining • Customer Profiling • Recency, Frequency, Monetary (RFM) Analysis • Report Generating
  24. 24. DOUBTS?????