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Marketing Research

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the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem. how to use the best resources available to accomplish objectives

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Basic Marketing Research principals

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Marketing research is used to help design marketing strategy and planning Make sure your research is timely and relevant Carefully define your research objectives Don't conduct frivolous research

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Marketing research applications - Why study marketing, and what uses can marketing research have?

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Basic Research Applied Research

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Types of marketing research organizations

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In house research External research- agencies

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How would I like you to approach this class, and why do I advocate that perspective?

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Educated buyers and users of market research. Not to be professionals.

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How did the research industry come about?

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The first known application of marketing research to a business marketing/advertising problem was conducted by the ad agency N.W. Ayer & Son in 1879. They did research for its client in a manufacturer of agriculture. The industry grew in 1930s after the industrial revolution

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What are the types of research organization?

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Internal-DIY (do it yourself) External- Agency

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Marketing research process

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an interrelated sequence of steps that make up a marketing research project.

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Marketing research process

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1. Justify the need for marketing research 2. Define the research objective 3. Identify data needs 4. Identify data sources 5. Choose an appropriate research design and data collection method 6. Design the research instrument or form 7. Identify the sample 8. Collect data, including any relevant secondary data 9. Analyze and interpret the data 10. Present the research findings to decision makers

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Marketing research types

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Exploratory Conclusive -descriptive -causal

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Qualitative vs. quantitative

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Quantitative is data and numbers. Qualitative is everything else.

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Primary

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information collected specifically for the problem at hand

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Secondary

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information already collected

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Exploratory Research

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*want to be as comprehensive as possible* collecting information in an unstructured and informal manner Used to: -answer vague questions -gives direction - better understanding of the situation -non-quanititative

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Descriptive Research

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refers to a set of methods and procedures describing a population -often seen in surveys

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Experimental Research

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Must have an Independent (manipulated) variable, and a Dependent (measured) variable ex: Joe wants to increase beer sales during Vikings football games. To do this he tries increasing and decreasing his prices by 50 cents over several games to see what effect it has.

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Conclusive Research

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research done to answer yes or no questions Used to: -narrow choices -more formal than exploratory research -quantitative

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Cross-Sectional Studies

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*is apart of descriptive research* One time studies involving data collection at a single period in time-a snapshot. - think of the whole movie being great and the last scene being terrible. people judge the movie by the last scene, not the movie as a whole

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Longitudinal Studies

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*is apart of descriptive research* repeated measures of studies that collect data over several periods in time. will provide richer information -think of the whole movie over time, not just a specific scene

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What is the process for defining the problem?

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Must have either failure to meet objective or an opportunity. Managers must choose among alternatives. Managers must be knowledgeable about objectives and performance. Reliant on a control system.

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Sample Plan

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refers to the process used to select units from the population to be included in the sample

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Sample Size

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refers to determining how many elements of the population should be included in the sample

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Key Informant Technique

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technique used to ask the people who are most related to the topic of understanding. i.e.-movies movie directors actors critics

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Focus Group Interviews

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group discussion facilitated by a discussion leader, great because there is lots of info and feedback bad bc there can be a dominating person

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Secondary Data

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Insights here might eliminate the need for conclusive research. Must be careful with this technique

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Case Study Method

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in-depth examination of a unit of interest

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observation

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human or mechanical observation of what people actually do

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Marketing information systems

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Internal secondary data(collected within firms), internal databases(info collected during normal business transactions), data mining(software that helps make sense of data)

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Secondary Data

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Ad: obtained quickly, inexpensive, almost always readily available, may be all that is needed Dis: incompatible units, mismatch of unites of measurements, differing definitions used to classify the data, timeliness, lack of information to asses

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Qualitative research

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The collection, analysis, and interpretation of data that cannot meaningfully quantified or summarized in the form numbers -used mainly for hypothesis' to be tested -problem or issue needs to be explored

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Quantitative research

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the collection, analysis, and interpretation data involving larger, more representative respondent samples and numerical calculation of results -used to test hypothesis

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Narrative

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Exploring the life of an individual, usually told as a story. -easier to understand -never in business contexts

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Phenomenology

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Understanding the essence of the lived experiences -studying several individuals that have shared the experience

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Grounded Theory

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developing a theory from data from the field

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Ethnography

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describing and interpreting a culture-sharing group -different from phenomenology bc has values, norms, behaviors, beliefs, and language

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Instrumental

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*part of case study* approach to a single issue- blown up

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Multiple

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*part of case study* one issue with multiple cases. person vs person vs person

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Intrinsic

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*part of case study* unique situations i.e.- kids grow up with out human contact

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Observational techniques

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Covert- hiding from the customer Overt- the customer can see us

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structured questions

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questions with provided answers by the survey makers

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unstructured questions

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allows person surveying to open up and express their views

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Structured observation

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Studying the *specific* actions of the customer, which things were bought, etc that were pre planned to look for

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Nonstructured observation

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Studying the actions of the customer as a whole, without any specifications

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Direct question format

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straight pointed question, i.e. - are you a good parent?

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indirect question format

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question surrounding the point, i.e.- how would you describe the parenting of your friends, neighbors, and relatives?

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Natural observation technique

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follow a customer out in the field, at the grocery store

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Contrived Observation technique

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following a customer in a controlled grocery store, for instance one that you made.

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In house research

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Centralized structure - one big department Decentralized - all have their own Mixed - mixture of the two

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Basic Research

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(usually academics) - conducted to generate knowledge

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Applied Research

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(usually industry) - research conducted to solve a specific problem

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Research Objectives

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Completely dependent on the problem. Specific, and tell the researcher exactly what information must be collected to solve the problem by facilitating selection of a decision alternative.

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Sources of Problems

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Failure to Meet an Objective-Gap between what is supposed to happen and what did happen. Opportunity-Gap between what did happen and what could have happened.

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Hypotheses

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Statements that are taken for true for the purposes of argument or investigation.

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Independent Variable

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Variables over which the researcher has control and wishes to manipulate. (Typically the 4Ps)

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Dependent Variable

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Variables over which we have little or no direct control but a strong interest in changing. (ex. sales, market share, customer satisfaction, turnover, ROI etc.)

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Casuality

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Understanding a phenomenon in terms of conditional statements of the form "If x, then y."

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Step 1

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Establish the need for marketing research **Sometimes marketing research isn't needed-The information is already available, the timing is wrong to conduct marketing research, funds are not available for marketing research.

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Step 2

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Define the Problem-Stating the decision alternatives *Most important step in the research process*

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Step 3

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Establish Research Objectives

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Step 4

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Determine Research Design

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Step 5

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Identify information Types and Sources

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Step 6

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Determine Methods of Accessing Data

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Step 7

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Design Data Collection Forms

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Step 8

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Determine Sample Plan and Size

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Step 9

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Collect Data

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Step 10

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Analyze Data

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Step 11

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Prepare and Present The Final Research Report

Market Research Ch 1-6 – Flashcards

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