1224691022 kotler mm_13e_basic_04


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marketing management 13th edition chapter 4

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1224691022 kotler mm_13e_basic_04

  1. 1. Conducting Marketing Research and Forecasting Demand Marketing Management, 13 th ed 4
  2. 2. Chapter Questions <ul><li>What constitutes good marketing research? </li></ul><ul><li>What are good metrics for measuring marketing productivity? </li></ul><ul><li>How can marketers assess their return on investment of marketing expenditures? </li></ul><ul><li>How can companies more accurately measure and forecast demand? </li></ul>
  3. 3. What is Marketing Research? <ul><li>Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. </li></ul>
  4. 4. Types of Marketing Research Firms <ul><li>Syndicated service </li></ul><ul><li>Custom </li></ul><ul><li>Specialty-line </li></ul>
  5. 5. The Marketing Research Process <ul><li>Define the problem </li></ul><ul><li>Develop research plan </li></ul><ul><li>Collect information </li></ul><ul><li>Analyze information </li></ul><ul><li>Present findings </li></ul><ul><li>Make decision </li></ul>
  6. 6. Step 1: Define the Problem <ul><li>Define the problem </li></ul><ul><li>Specify decision alternatives </li></ul><ul><li>State research objectives </li></ul>
  7. 7. Step 2: Develop the Research Plan <ul><li>Data sources </li></ul><ul><li>Research approach </li></ul><ul><li>Research instruments </li></ul><ul><li>Sampling plan </li></ul><ul><li>Contact methods </li></ul>
  8. 8. Research Approaches <ul><li>Observation </li></ul><ul><li>Ethnographic </li></ul><ul><li>Focus group </li></ul><ul><li>Survey </li></ul><ul><li>Behavioral data </li></ul><ul><li>Experimentation </li></ul>
  9. 9. Research Instruments <ul><li>Questionnaires </li></ul><ul><li>Qualitative Measures </li></ul><ul><li>Technological Devices </li></ul>
  10. 10. Questionnaire Do’s and Don’ts <ul><li>Ensure questions are free of bias </li></ul><ul><li>Make questions simple </li></ul><ul><li>Make questions specific </li></ul><ul><li>Avoid jargon </li></ul><ul><li>Avoid sophisticated words </li></ul><ul><li>Avoid ambiguous words </li></ul><ul><li>Avoid negatives </li></ul><ul><li>Avoid hypotheticals </li></ul><ul><li>Avoid words that could be misheard </li></ul><ul><li>Use response bands </li></ul><ul><li>Use mutually exclusive categories </li></ul><ul><li>Allow for “other” in fixed response questions </li></ul>
  11. 11. Question Types - Dichotomous In arranging this trip, did you contact American Airlines?  Yes  No
  12. 12. Question Types – Multiple Choice <ul><li>With whom are you traveling on this trip? </li></ul><ul><li> No one </li></ul><ul><li>Spouse </li></ul><ul><li>Spouse and children </li></ul><ul><li>Children only </li></ul><ul><li>Business associates/friends/relatives </li></ul><ul><li>An organized tour group </li></ul>
  13. 13. Question Types – Likert Scale <ul><li>Indicate your level of agreement with the following statement: Small airlines generally give better service than large ones. </li></ul><ul><li> Strongly disagree </li></ul><ul><li>Disagree </li></ul><ul><li>Neither agree nor disagree </li></ul><ul><li>Agree </li></ul><ul><li>Strongly agree </li></ul>
  14. 14. Question Types – Semantic Differential American Airlines Large ………………………………...…….Small Experienced………………….….Inexperienced Modern……………………….…..Old-fashioned
  15. 15. Question Types – Importance Scale <ul><li>Airline food service is _____ to me. </li></ul><ul><li> Extremely important </li></ul><ul><li>Very important </li></ul><ul><li>Somewhat important </li></ul><ul><li>Not very important </li></ul><ul><li>Not at all important </li></ul>
  16. 16. Question Types – Rating Scale <ul><li>American Airlines’ food service is _____. </li></ul><ul><li> Excellent </li></ul><ul><li>Very good </li></ul><ul><li>Good </li></ul><ul><li>Fair </li></ul><ul><li>Poor </li></ul>
  17. 17. Question Types – Intention to Buy Scale <ul><li>How likely are you to purchase tickets on American Airlines if in-flight Internet access were available? </li></ul><ul><li> Definitely buy </li></ul><ul><li>Probably buy </li></ul><ul><li>Not sure </li></ul><ul><li>Probably not buy </li></ul><ul><li>Definitely not buy </li></ul>
  18. 18. Question Types – Completely Unstructured What is your opinion of American Airlines?
  19. 19. Question Types – Word Association What is the first word that comes to your mind when you hear the following? Airline ________________________ American _____________________ Travel ________________________
  20. 20. Question Types – Sentence Completion When I choose an airline, the most important consideration in my decision is: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.
  21. 21. Question Types – Story Completion “ I flew American a few days ago. I noticed that the exterior and interior of the plane had very bright colors. This aroused in me the following thoughts and feelings.” Now complete the story. __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
  22. 22. Question Types – Picture (Empty Balloons)
  23. 23. Qualitative Measures <ul><li>Word association </li></ul><ul><li>Projective techniques </li></ul><ul><li>Visualization </li></ul><ul><li>Brand personification </li></ul><ul><li>Laddering </li></ul>
  24. 24. Technological Devices <ul><li>Galvanometers </li></ul><ul><li>Tachistoscope </li></ul><ul><li>Eye cameras </li></ul><ul><li>Audiometers </li></ul><ul><li>GPS </li></ul>
  25. 25. Sampling Plan <ul><li>Sampling unit: Who is to be surveyed? </li></ul><ul><li>Sample size: How many people should be surveyed? </li></ul><ul><li>Sampling procedure: How should the respondents be chosen? </li></ul>
  26. 26. Table 4.2 Types of Samples <ul><li>Probability Samples </li></ul><ul><li>Simple random </li></ul><ul><li>Stratified random </li></ul><ul><li>Cluster </li></ul><ul><li>Nonprobability Samples </li></ul><ul><li>Convenience </li></ul><ul><li>Judgment </li></ul><ul><li>Quota </li></ul>
  27. 27. Contact Methods <ul><li>Mail questionnaire </li></ul><ul><li>Telephone interview </li></ul><ul><li>Personal interview </li></ul><ul><li>Online interview </li></ul>
  28. 28. Pros and Cons of Online Research <ul><li>Advantages </li></ul><ul><li>Inexpensive </li></ul><ul><li>Fast </li></ul><ul><li>Accuracy of data, even for sensitive questions </li></ul><ul><li>Versatility </li></ul><ul><li>Disadvantages </li></ul><ul><li>Small samples </li></ul><ul><li>Skewed samples </li></ul><ul><li>Technological problems </li></ul><ul><li>Inconsistencies </li></ul>
  29. 29. What is a Marketing Decision Support System (MDSS)? <ul><li>A marketing decision support system is a coordinated collection of data, systems, tools, and techniques with supporting hardware and software by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action. </li></ul>
  30. 30. Barriers Limiting the Use of Marketing Research <ul><li>A narrow conception of the research </li></ul><ul><li>Uneven caliber of researchers </li></ul><ul><li>Poor framing of the problem </li></ul><ul><li>Late and occasionally erroneous findings </li></ul><ul><li>Personality and presentational differences </li></ul>
  31. 31. Table 4.3 Characteristics of Good Marketing Research <ul><li>Scientific method </li></ul><ul><li>Research creativity </li></ul><ul><li>Multiple methods </li></ul><ul><li>Interdependence </li></ul><ul><li>Value and cost of information </li></ul><ul><li>Healthy skepticism </li></ul><ul><li>Ethical marketing </li></ul>
  32. 32. What are Marketing Metrics? <ul><li>Marketing metrics are the set of measures that helps marketers quantify, compare, and interpret marketing performance. </li></ul>
  33. 33. Table 4.4 Marketing Metrics <ul><li>External </li></ul><ul><li>Awareness </li></ul><ul><li>Market share </li></ul><ul><li>Relative price </li></ul><ul><li>Number of complaints </li></ul><ul><li>Customer satisfaction </li></ul><ul><li>Distribution </li></ul><ul><li>Total number of customers </li></ul><ul><li>Loyalty </li></ul><ul><li>Internal </li></ul><ul><li>Awareness of goals </li></ul><ul><li>Commitment to goals </li></ul><ul><li>Active support </li></ul><ul><li>Resource adequacy </li></ul><ul><li>Staffing levels </li></ul><ul><li>Desire to learn </li></ul><ul><li>Willingness to change </li></ul><ul><li>Freedom to fail </li></ul><ul><li>Autonomy </li></ul>
  34. 34. What is Marketing-Mix Modeling? <ul><li>Marketing-mix models analyze data from a variety of sources, such as retailer scanner data, company shipment data, pricing, media, and promotion spending data, to understand more precisely the effects of specific marketing activities. </li></ul>
  35. 35. Marketing Dashboards <ul><li>A customer-performance scorecard records how well the company is doing year after year on customer-based measures. </li></ul><ul><li>A stakeholder-performance scorecard tracks the satisfaction of various constituencies who have a critical interest in and impact on the company’s performance including employees, suppliers, banks, distributors, retailers, and stockholders. </li></ul>
  36. 36. Table 4.5 Sample Customer-Performance Scorecard Measures <ul><li>% of new customers to average # </li></ul><ul><li>% of lost customers to average # </li></ul><ul><li>% of win-back customers to average # </li></ul><ul><li>% of customers in various levels of satisfaction </li></ul><ul><li>% of customers who would repurchase </li></ul><ul><li>% of target market members with brand recall </li></ul><ul><li>% of customers who say brand is most preferred </li></ul>
  37. 37. Common Measurement Paths <ul><li>Customer metrics pathway </li></ul><ul><li>Unit metrics pathway </li></ul><ul><li>Cash-flow metrics pathway </li></ul><ul><li>Brand metrics pathway </li></ul>
  38. 38. The Measures of Market Demand <ul><li>Potential market </li></ul><ul><li>Available market </li></ul><ul><li>Target market </li></ul><ul><li>Penetrated market </li></ul>
  39. 39. Vocabulary for Demand Measurement <ul><li>Market demand </li></ul><ul><li>Market forecast </li></ul><ul><li>Market potential </li></ul><ul><li>Company demand </li></ul><ul><li>Company sales forecast </li></ul><ul><li>Company sales potential </li></ul>
  40. 40. How Can We Estimate Current Demand? <ul><li>Total market potential </li></ul><ul><li>Area market potential </li></ul><ul><ul><li>Market buildup method </li></ul></ul><ul><ul><li>Multiple-factor index method </li></ul></ul>
  41. 41. Estimating Future Demand <ul><li>Survey of Buyers’ Intentions </li></ul><ul><li>Composite of Sales Force Opinions </li></ul><ul><li>Expert Opinion </li></ul><ul><li>Past-Sales Analysis </li></ul><ul><li>Market-Test Method </li></ul>