Problem in Marketing Research

Unlock all answers in this set

Unlock answers
question
Marketing Research Process (8 steps)
answer
1. Identification of the problem and the statement of the research objectives 2. Creation of the research design 3. Choice of the research method 4. Selection of the sampling procedure 5. Collection of the data 6. Analysis of the data 7. Writing and the presentation of the report
question
Step 1: Identification of the problem & statement of the research objectives
answer
-process begins w/ the recognition of a marketing problem or opportunity -identify research objectives -often researchers state research objectives in the form of a hypothesis -problem must be narrowly defined -may need to conduct 'exploratory research' to define the exact nature of the problem
question
Step 2: Creation of the Research Design
answer
-the research design is the plan to be followed to answer the research objectives -decide whether to use a descriptive or causal study
question
Step 3: Creation of Method of Research
answer
Methods of research
question
Survey
answer
-mail survey, telephone, door-to-door interviewing, mall intercepts, internet surveys, etc.
question
Observation
answer
focus groups
question
Experiments
answer
The objective of experiments is to measure causality
question
Step 4: Selection of the Sampling Procedure
answer
-decide whether to use probability or a non-probability sample -decide who should be targeted -determine the sample size
question
Step 5: Collection of the Data
answer
-most data collection is done by marketing research field service firms -validation: about 15% of the surveys are validated
question
Step 6: Analysis of the data
answer
-the purpose is to interpret and draw conclusions from the data that has been collected
question
Step 7: Writing and presentation of the report
answer
This is a very involved process
question
Step 8: Follow-up
answer
Management must determine whether the recommendations are followed
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New