Establishing the Need for Marketing Research
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11 Steps in the Marketing Research Process
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Sets out the process of marketing research. It is not sacred.
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Step 1: Establish The Need for Marketing Research
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Managers must decide when they inadequate information whether they need marketing research. This based on time to do the research, value of the research and the cost. a. Information is already available. Routine decisions where the manager has the experience to act without additional information. b. Timing is Wrong to Conduct Marketing Research. Time is critical. c. Cost Outweigh the Value of Marketing Research.
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Step 2: Define the Problem
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Defining the problem is the most important step. A problem statement is defines the problem succinctly. If the problem is incorrectly defined, all that follows is a waste of time.
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Step 3: Establish Research Objectives
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Tells the researcher exactly what information is needs to be gathered and analyzed. It must be very clear, since they will determine the methods used and content of the measurement instrument.
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Step 4: Determine Research Design
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The approach used to meet research objectives. a. Exploratory. b. Descriptive c. Casual
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Step 5: Identify Information Types and Sources
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Identify types and sources of information to be used. Primary and secondary.
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Step 6: Determine Methods of accessing Data
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Assessing methods of obtaining data, such as, observation of consumers, monitoring information online, surveys, or mixed methods.
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Step 7: Design Data Collection Forms
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Designing the form for data collection. Questionnaire and focus group guide. This is one of the most important steps of the research process. The quality of the data collection form determines the quality of the data gathered with that form. Garbage questions = Garbage in = Garbage out.
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Step 8: Determine the Sample Plan and Size
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Marketing research studies are undertaken to learn about populations by taking a sample of that population.
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Step 9: Collect Data
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Need to know issues to consider in collecting data in the field to ensure highest possible data quality.
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Step 10: Analyze Data
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The transfer of data from the data collection forms and enter the data into software packages that aid them in analyzing the data. IBM, SPSS
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Step 11: Prepare and present the Final Research Report
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Report present to the client. It is essential because it is often the client's only record of the research project.
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Field Service Firms
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Companies that specialize in data collection.
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Population
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Entire group of which you are applying your sample data to.
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Questionnaire
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Form of questions.
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Focus Group Guide
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Questions asked in a focus group.
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Primary Information
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Information collected specifically for the problem at hand.
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Secondary Information
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Information already collected.
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Data Analysis
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The use of statistical tools to present data in a form that fulfills the research objectives.
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Problems
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Situations calling for managers to make choices among decision alternatives.
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Marketing Opportunity
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Potentially favorable circumstance in which a company can perform successfully. Google
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Symptoms
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Changes in the level of some key monitor that measures the achievement of an objective (effect)
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Situation Analysis
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Form of exploratory research undertaken to gather background information and data that may be helpful in properly defining the problem decision.
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Decision Alternatives
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All marketing action that the manager thinks may resolve the problem. (price changes, product modification or improvement, promotion of any kind, and adjustment in channels of distribution).
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Consequences
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Results of marketing actions. You must speculate as to the consequences of selecting each alternative.
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Information State
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The quantity and quality of evidence a manager possesses for each of his or her assumptions. What they currently know.
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Information Gaps
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The difference between the current information level and the desired information level a manager feels comfortable in making a decision.
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Assumptions
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Assertions that certain conditions exist or that certain reactions will take place if the considered alternatives are implemented. Assumptions deserve a researchers attention because they are the flue that holds the decision process together.
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Problems Statement
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A concise description of the problem or opportunity that management is facing that requires research to make a decision.
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Problems Statement Examples
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An apartment manager wants to increase the proportion of apartment occupancies per year at his apartment complex.
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Research Objective
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A goal-oriented statement or question that specifies that information is needed to solve a problem.
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Research Objective Examples
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The American Red Cross wishes to increase the number of American university students who donate blood each year.
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Hypotheses
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Statements that are taken as true for the purposes of argument or investigation.
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Construct
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Multiple characteristics are used to measure a concept. (memory, relevance, believability, understandability, likability, attitude, brand loyalty, and intention to purchase.) Cannot be measured directly. (feeling = highly agree or highly disagree scale)
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Variables
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Elements of a construct that can be measured or quantified. They can vary (constants do not). Can be measured directly. (Age, demographic)
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Operational Definition
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Research objective should define how the construct being evaluated is actually measured. Scaled response format -- scale ranging from 1-5, 1-7, 1 to 10.
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Action Standard
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Predetermined quantity of a measured attribute or characteristic you want to receive in order to take an action.
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Marketing Research Proposal
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The contract that documents what the marketing researcher pledges to deliver as a result of the marketing research process.
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Invitation to Bid (ITB) or Request for Proposal (RFP)
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Process where a client generally request a proposal prior to agreeing to work with the firm.
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Elements of the Proposal
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Elements of the marketing research proposal and the types of questions that are answered through the proposal.
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Statement of the Problem
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The overall problem to be address.
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The Research Objectives
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What information is going to be collected.
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The Research Methods
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What methods will be used.
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Statement of Deliverables
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How and when will the research results will be communicated.
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Cost
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What are the expenses for the project.
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Timeable
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Dates when the different stages of the research project will be completed.
