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MARKETING RESEARCH PROCESS

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1) define objectives & research needs 2) design the research 3) data collection process 4) analyzing data and developing insights 5) action plan and implementation

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The marketing research process follows five steps, and researchers

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may not always go through them in the exact sequence if the situation changes or new information is discovered.

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The first question a marketing researcher should ask when considering a research study is

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will this research be useful?

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Assuming that a market research study will answer important questions and reduce uncertainty associated with the proposed project, a major question that needs to be addressed before starting the study is:

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is the top management committed to the study

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Benefit-cost analysis in market research weighs

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the benefits of answering questions against the cost of the research.

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After defining the research objectives and designing the research, the next step is to

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collect data.

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1) define objectives and research needs

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researchers assess the value of a project through a careful comparison of the benefits of answering some of their questions and costs associated with conducting the research. -What information is needed to answer specific research questions? -How should that information be attained? IE: McDonalds wants a better understanding of its customers experience.

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2) designing the research

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researchers define the type of data needed and determine the research necessary to collect them. two types of data: secondary primary two types of research: qualitative vs quantitative

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3) collecting the data and types of data

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secondary data primary data

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secondary data

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pieces of information collected prior to this research project; what info is out there that you can use; "looking things up"; census

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external secondary data

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government sources

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external secondary data syndicated data

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AC nielson (TV ratings, tech ownership) JD Power and associates (automotive as well as Simmons (lifestyle media use across different segments IRI (tracking household consumption patterns)

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Commercial research firms like ACNielsen and SymphonyIRI Group are sources of

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syndicated data.

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internal secondary data

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data warehouse data mining - crawling through data

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primary data

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data collected specifically for this research creating new information

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qualitative methods

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provides initial information generally in-depth and unstructured includes: -observation -in-depth interviews -focus groups -social media research

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Qualitative research is often done in part to obtain

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qualitative data

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conducted to investigate the research problem to gain preliminary insights and more clearly formulate the research objectives.

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qualitative data

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observation research

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entails examining purchases and consumption behaviors through personal or video cameras, scrutiny or by tracking customers movements electronically as they move through a store; especially helpful when shoppers are not able to articulate their experiences Manual Mechanical Ethnographic (immersing one-self in context of research and then learning from it) IE: Eye tracking technology

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social media research

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contributors to social media sites rarely are shy about providing their opinions about the firm's own products or its competitors' offerings. -monitoring blogs -online communication -sentiment mining IE super bowl buzz highs and lows super bowl 50

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virtual community

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an online network

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in-depth interviews

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limited number ; good way to collect detailed opinions from a small number of individuals. somewhat unstructured time consuming and costly Gain rich insight

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focus groups

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collect the feelings or opinions of a group of individuals when you do not need in-depth responses from each individual. intensive discussion of a topic, sharing their views with the moderator and with each other. group of 8-12 consumers !! discuss one topic facilitation by trained moderator

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quantitative research

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large number of respondents statistically valid CONFIRM INSITES can generalize -experiments -surveys -scanner/ panel

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Which of the following is true about quantitative research?

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It confirms insights and provides a basis for taking a course of action.

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attempting to obtain definitive answers to the research questions.

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quantitative data

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experiments

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changing a variable and analyzing the result -usually change one of the four p's and look at either sales or awareness -field or lab

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survey research

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-telephone interviews -mail surveys -internet survey -mall intercept interviews -in-person interviews

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issues with surveys

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interview bias presence of interviewer may change responses consumer unwillingness to participate INCENTIVES help participation

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questionnaire issues

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types of question ordering of questions wording of question

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common types of question

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-structured: choices are provided Likert scale "strongly disagree, disagree, NA, agree, strongly agree" -semantic differential "Wendy's food awful____________excellent -unstructured: choices are not provided fill in the blank IE "what is the most important reason why you chose UGA?" -projective technique "if a wendy's burger could talk to a mcdonald's or burger kind burger, what would it say?

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questions to avoid

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1) leading 2) double barreled- more than one issue with only one set of responses 3) jargon or inappropriate terminology- no marketing jargon that could potentially intimidate customers 4) consumer unable to answer - don't try to stump them

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ordering of questions

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demographic questions at the end in order to not make the people taking the test feel like it is important in relation to their answers

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sampling issues for primary data

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non-probability sampling connivence sampling probability sampling - generalize the population simple random sample - randomly choosing people systematic random sample - every 4th person on the list stratified random sample - CLUSTER people together and randomly select people from within those clusters

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4) analyzing data and developing insights

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make sense of the data

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5) action plan and implementation

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send to managers to get action

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churn.

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The number of customers who discontinue their use of a service divided by the average number of total participants is called

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A restaurant chain is working to improve the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, to track its progress. What kind of data is the restaurant chain collecting?

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panel data

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include one or more physical traits such as facial characteristics, iris scans, or fingerprints.

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BIOMETRIC DATA

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What is neuromarketing?

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The use of EEG scanners to measure consumers brain waves.

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sentiment mining.

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Sentiment mining is the collection and analysis of social media posts to gain insights into consumer thoughts and opinions.

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In what country have regulators demanded that Facebook stop collecting biometric data on its users?

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Germany

MARKETING CHAPTER 10 EXAM 2 (NOTES) – Flashcards

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