Marketing research
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The document discusses research processes and defines research as the systematic identification, collection, analysis, and use of information to improve decision-making. It outlines the typical steps in a research process, including problem definition, developing an approach, research design formulation, data collection, data analysis, and reporting. An example is provided of a study where the researcher failed to properly define the problem, resulting in irrelevant data collection. Proper problem definition is emphasized as the starting point for any successful research project.
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Research Methods in Business and Management,Lecture-1The Role of Business Res...
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This document provides an overview of business research. It defines business research as the systematic and objective process of generating information to aid in business decision making. This includes problem definition, information collection and analysis, and communicating findings. Business research can be applied to address specific decisions or basic to expand general knowledge. The scientific method involves forming hypotheses and using evidence to objectively reach conclusions. For managers, research helps with strategic planning, problem identification, decision making, and evaluating outcomes. The value of research must exceed its costs for a project to be worthwhile. Key topics include general business, finance, management, and marketing. Technology and globalization are changing how research is conducted.Similar to Marketing research (20)
DEFINING THE MARKETING RESEARCH PROBLEM AND DEVELOPING AN APPROACH
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Marketing research
- 1. 1 Understanding Research – An Overview
- 2. 1-2 Defining Research Research is the systematic and objective identification collection analysis dissemination and use of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in any field.
- 3. 1-3 The Role of Research Controllable Variables •Product •Pricing •Promotion •Distribution • Consumers Research Decision Making Providing Information Assessing Information Needs Uncontrollable Environmental Factors •Economy •Technology •Laws & Regulations •Social & Cultural Factors •Political Factors Customer Groups • Employees • Shareholders • Suppliers Information
- 4. 1-4 Problem Identification Research Problem Solving Research Market Potential Research Market Share Research Market Characteristics Research Segmentation Research Product Research Promotion Research Research
- 5. 1-5 Research Process Problem Definition Development of approach to problem Research Design formulation Fieldwork or Data collection Data Preparation and Analysis Report and Presentation • Problem Definition •Research Design formulation • Data Analysis
- 6. 1-6 Research Process Problem Definition
- 7. 1-7 Example Study One day I received a phone call from a research analyst who introduced himself as one of our alumni. He was working for XYZ company in town and wanted help analyzing the data he had collected while conducting a marketing research study.
- 8. 1-8 Example Study When we met, he presented me with a copy of the questionnaire and asked how he should analyze the data. My first question to him was,
- 9. 1-9 Example Study When he looked perplexed, I explained that data analysis is not an independent exercise. Rather, the goal of data analysis is to PROVIDE INFORMATION RELATED TO THE PROBLEM COMPONENTS.
- 10. 1-10 Example Study I was surprised to learn that he did not have a clear understanding of the research problem and that a written definition did not exist. So before going any further, I had to ddeeffiinnee the marketing research problem. Once that was done, I found that much of the data collected was not relevant to the problem. In this sense, the whole study was a waste of resources. A new study had to be designed and implemented to address the problem defined.
- 12. 1-12 Research Process Development of approach to problem
- 13. 1-13 Research Process Research Design formulation - A framework or blueprint for conducting the research project. It details the procedures necessary for obtaining the information needed to structure or solve research problems.
- 14. 1-14 A Classification of Marketing Research Designs Research Design Single Cross- Sectional Design Conclusive Research Design Multiple Cross- Sectional Design Exploratory Research Design Descriptive Research Causal Research Cross-Sectional Design Longitudinal Design
- 15. 1-15 See your way through… You pen down and think about literally every thing which you have to do in carrying out your project…
- 16. 1-16 Research Process Fieldwork or Data collection
- 17. 1-17 Research Process Data Preparation and Analysis
- 18. 1-18 Data Preparation Process Prepare Preliminary Plan of Data Analysis Check Questionnaire Edit Code Transcribe Clean Data Statistically Adjust the Data Select Data Analysis Strategy
- 19. 1-19 Analyzing the Data Know properties of Data Properties of Statistical techniques Analyze the data
- 20. 1-20 Research Process Report and Presentation
- 21. 1-21 Reporting the Results 1. They are the tangible products of the research effort. 2. Management decisions are guided by the report and the presentation. 3. The involvement of many managers in the project is limited to the written report. 4. Management's decision to undertake research in the future or to use the particular research supplier again will be influenced by the perceived usefulness of the report.
- 22. 1-22