Chapter 4

Marketing Reseach

• They systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization • Use when giving marketers insights into customer motivations, purchase behaviors, and satisfaction • Help to asses market potential and market share or measure the effectiveness of pricing, product distribution and promotion activities • Has four steps: o 1. Defining problem and research objectives o 2. Developing research plan o 3. Implementing the research plan o 4. Interpreting and reporting the findings

Sample

• a segment of the population selected for marketing research to represent the population as a whole

Experimental Research

• best suited for gathering casual information • involves selecting matched groups of subjects, giving them different treatments, controlling unrelated factors, and checking for differences in group responses • explains cause-and-effect relationships

Primary Data

• consist of information collected for the specific purpose at hand

Focus Group Interviewing

• consist of inviting 6 to 10 people to meet with a trained moderator to talk about a product • paid small sum for attending • free and easy discussion and the moderator "focuses" on discussion

Secondary Data

• consists of information that already exists somewhere having been collected for another purpose

Internal Database

• electronic collections of consumer and market information obtained from data sources within the company's network.

Depth (In-Depth) Interview

• gains customer insights through a one-one interview with a trained interviewee

Sample Size

• how many people included

Online Marketing Research

• internet surveys, online panels, experiments, and online focus groups and brand communities

Observational Research

• involves gathering primary data by observing relevant people actions, and situations. EX. Customers do and say

Ethnographic Research

• involves sending observers to watch and interact with consumers in their "natural environments"

Competitive Marketing Intelligence

• is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace. • Goal is to improve strategic decision making by understanding the consumer environment, assessing and tracking competitor's actions and providing early warning of opportunities and threats • Include observing consumers firsthand to quizzing the company's own employees ect. • Many companies have appointed chief listening officers who are charged with sifting through online customer conversations and passing along key insights to marketing decision makers

Sampling Plan

• marketing researchers usually draw conclusions about large groups of consumers by studying a small sample of the total consumer population

Descriptive Research

• objective is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product

Exploratory Research

• objective is to gather preliminary information that will help define the problem and suggest hypotheses

Casual Research

• test hypotheses about cause and effect relationships.

Survey Research

• the most widely used method for primary data collection is the approach best suited for gathering descriptive information. Asks customers opinions directly

Questionnaire

• used to collect large amounts of information at a low cost per responded • may give more honest responses than interview • not very flexible, take longer to complete

Marketing Information System (MIS)

• Consists of people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights. o 1. Interacts with information users to assess information o 2. Interacts with the marketing environment to develop needed info through internal database, marketing intelligence activities and marketing research o 3. Helps users to analyze and use info to develop customer insights make marketing decisions and manage customer relationships • a good MIS balances the information users would like to have against what they really need and what is feasible to offer Marketers can obtain the needed information from internal data, marketing intelligence, and marketing research

Sampling

• who is to be studied