Marketing Research ProcessIt’s all about the … Information Need!
Harley Davidson – Dilemma in2005! (www.harleydavidson.com) To invest in new facilities or not! What is the problem being addressed? Inadequate problem definition is a leading cause of failure of MR projects.
Defining the Problem &Developing an Approach Understand the background of the problem by analyzing the environmental context. Tasks involved in problem definition: Discussions with decision makers Interviews with industry experts Analysis of secondary data
Steps in Marketing ResearchProcess Problem Definition Development of an approach to the Problem Research Design Formulation Fieldwork/Data Collection Data Preparation & Analysis Report Preparation & Presentation
Management DecisionProblem Asks what the decision maker needs to do Action oriented Focuses on symptoms
Marketing Research Problem Asks what information is needed & how it should be obtained Information oriented Focuses on the underlying causes
MDP vs. MRPMDP: Should a new product be introducedMRP: to determine consumer preferences & purchase intentions for the proposed new productMDP: Should the advertising campaign be changed?MRP: to determine the effectiveness of the current advertising campaignMDP: Should the price of the brand be increased?MRP: to determine the price elasticity of demand & the impact on sales & profits of various level of price changes
Research Design3-broad classifications: Exploratory Research Descriptive Research Causal Research
Exploratory Research Clarifying thoughts Forming opinions Crystallizing the problem
Descriptive Research2-types: Longitudinal Studies(respondents studied over a period of time) Cross-sectional Design(1-shot research study at a given point of time, consists of a sample/cross-section of the population)
Causal Research Design Seeks to establish causation Whether or not Y is affected by X? Does X cause Y?
Designing the ResearchMethodology5-major parts: Research method (Secondary/Primary) Sampling Plan Questionnaire Design Field work plan Analysis plan