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Chap 4
- 1. 4 Conducting Marketing Research and ForecastingDemand Marketing Management, 13th ed
- 2. Chapter Questions • Whatconstitutes good marketing research? • What are good metrics for measuring marketing productivity? • How can marketers assess their return on investment of marketing expenditures? • How can companies more accurately measure and forecast demand? Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-2
- 3. What is MarketingResearch? Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-3
- 4. Types of MarketingResearch Firms • Syndicated service • Custom • Specialty-line Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-4
- 5. The Marketing ResearchProcess • • • • • • Define the problem Develop research plan Collect information Analyze information Present findings Make decision Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-5
- 6. Step 1: Definethe Problem • Define the problem • Specify decision alternatives • State research objectives Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-6
- 7. Step 2: Developthe Research Plan • • • • • Data sources Research approach Research instruments Sampling plan Contact methods Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-7
- 8. Research Approaches • • • • • • Observation Ethnographic Focus group Survey Behavioraldata Experimentation Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-8
- 9. Research Instruments • Questionnaires •Qualitative Measures • Technological Devices Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-9
- 10. Questionnaire Do’s andDon’ts • Ensure questions are free of bias • Make questions simple • Make questions specific • Avoid jargon • Avoid sophisticated words • Avoid ambiguous words • Avoid negatives • Avoid hypotheticals • Avoid words that could be misheard • Use response bands • Use mutually exclusive categories • Allow for “other” in fixed response questions Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-10
- 11. Question Types -Dichotomous In arranging this trip, did you contact American Airlines? Yes No Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-11
- 12. Question Types –Multiple Choice With whom are you traveling on this trip? No one Spouse Spouse and children Children only Business associates/friends/relatives An organized tour group Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-12
- 13. Question Types –Likert Scale Indicate your level of agreement with the following statement: Small airlines generally give better service than large ones. Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-13
- 14. Question Types –Semantic Differential American Airlines Large ………………………………...…….Small Experienced………………….….Inexperienced Modern……………………….…..Old-fashioned Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-14
- 15. Question Types –Importance Scale Airline food service is _____ to me. Extremely important Very important Somewhat important Not very important Not at all important Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-15
- 16. Question Types –Rating Scale American Airlines’ food service is _____. Excellent Very good Good Fair Poor Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-16
- 17. Question Types – Intentionto Buy Scale How likely are you to purchase tickets on American Airlines if in-flight Internet access were available? Definitely buy Probably buy Not sure Probably not buy Definitely not buy Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-17
- 18. Question Types – CompletelyUnstructured What is your opinion of American Airlines? Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-18
- 19. Question Types – WordAssociation What is the first word that comes to your mind when you hear the following? Airline ________________________ American _____________________ Travel ________________________ Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-19
- 20. Question Types – SentenceCompletion When I choose an airline, the most important consideration in my decision is: _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ __________________. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-20
- 21. Question Types – StoryCompletion “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. _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-21
- 22. Question Types – Picture(Empty Balloons) Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-22
- 23. Qualitative Measures • • • • • Word association Projectivetechniques Visualization Brand personification Laddering Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-23
- 24. Technological Devices • • • • • Galvanometers Tachistoscope Eye cameras Audiometers GPS Copyright© 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-24
- 25. Sampling Plan • Samplingunit: Who is to be surveyed? • Sample size: How many people should be surveyed? • Sampling procedure: How should the respondents be chosen? Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-25
- 26. Table 4.2 Typesof Samples Probability Samples • Simple random • Stratified random • Cluster Nonprobability Samples • Convenience • Judgment • Quota Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-26
- 27. Contact Methods • • • • Mail questionnaire Telephoneinterview Personal interview Online interview Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-27
- 28. Pros and Consof Online Research Advantages • Inexpensive • Fast • Accuracy of data, even for sensitive questions • Versatility Disadvantages • Small samples • Skewed samples • Technological problems • Inconsistencies Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-28
- 29. What is a MarketingDecision Support System (MDSS)? 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. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-29
- 30. Barriers Limiting theUse of Marketing Research • • • • A narrow conception of the research Uneven caliber of researchers Poor framing of the problem Late and occasionally erroneous findings • Personality and presentational differences Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-30
- 31. Table 4.3 Characteristicsof Good Marketing Research • • • • • • • Scientific method Research creativity Multiple methods Interdependence Value and cost of information Healthy skepticism Ethical marketing Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-31
- 32. What are MarketingMetrics? Marketing metrics are the set of measures that helps marketers quantify, compare, and interpret marketing performance. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-32
- 33. Table 4.4 MarketingMetrics External Internal • • • • • • • • • • • • • • • • Awareness Market share Relative price Number of complaints Customer satisfaction Distribution Total number of customers • Loyalty Awareness of goals Commitment to goals Active support Resource adequacy Staffing levels Desire to learn Willingness to change Freedom to fail Autonomy Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-33
- 34. What is Marketing-MixModeling? 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. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-34
- 35. Marketing Dashboards • Acustomer-performance scorecard records how well the company is doing year after year on customer-based measures. • 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. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-35
- 36. Table 4.5 SampleCustomer-Performance Scorecard Measures • • • • • • • % of new customers to average # % of lost customers to average # % of win-back customers to average # % of customers in various levels of satisfaction % of customers who would repurchase % of target market members with brand recall % of customers who say brand is most preferred Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-36
- 37. Common Measurement Paths • • • • Customermetrics pathway Unit metrics pathway Cash-flow metrics pathway Brand metrics pathway Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-37
- 38. The Measures ofMarket Demand • • • • Potential market Available market Target market Penetrated market Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-38
- 39. Vocabulary for DemandMeasurement • • • • • • Market demand Market forecast Market potential Company demand Company sales forecast Company sales potential Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-39
- 40. How Can WeEstimate Current Demand? • Total market potential • Area market potential • Market buildup method • Multiple-factor index method Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-40
- 41. Estimating Future Demand • • • • • Surveyof Buyers’ Intentions Composite of Sales Force Opinions Expert Opinion Past-Sales Analysis Market-Test Method Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-41