Marketing Research Exam 1 Chapters 1,2,3,4(part 1),5,6 UWF
Qualitative Research Methods
-collecting, analyzing, and interpreting data by observing what people do and say
Descriptive Research studies: Continuous panels (brand swicthing panels)
ask panel members the same questions on each panel measurement
Qualitative methods: Focus Groups: Traditional
select 6 to 12 persons and meet in a dedicated room with one-way mirror for client viewing, for about two hours.
Research objectives state ___
specifically what information the researcher must produce so that the manager can choose the correct decision alternative to solve his or her problem.
Quantitative Research Methods
-use of structured questions in which response options have been predetermined and a large number of respondents is involved. Ex: Surveys!
Consequences of the Alternatives: Assumptions
are assertions that certain conditions exist or that certain reactions will take place if the considered alternatives are implemented.
Consequences of the Alternatives: Information Gaps
are discrepancies between the current information level and the desired level of information
Marketing Research Process- Step 4: Determine Research Design-Causal Studies
attempt to uncover what factor or factors cause some event
Marketing Research Process- Step 2: Define the Problem- Stating the decision alternatives
- This is the MOST important step of the 11 steps (assuming we've decided to do marketing research). - if the problem is incorrectly defined, all else is wasted effort.
The Role of Symptoms in Problem Recognition
- symptoms are not the problem but are the "signals" that alert us to the problem - symptoms are changes in the level of some key monitor that measures the achievement of an objective
Marketing Research Process- Step 10: Analyze Data
-DATA ANALYSIS involves entering data into computer files, inspecting data for errors, and running tabulations and various statistical tests.
Marketing Research Process- Step 6: Determine Methods of Accessing Data: Four main choices for primary data:
-Have a person ask questions -use computer-assisted or direct questioning -allow respondents to answer questions themselves without computer assistance -use some combination of two or more of the previous methods
Uses of Marketing Research
-Identify marketing opportunities and problems -Generate, refine, and evaluate potential marketing actions -Monitor marketing performance -Improve marketing as a process
Observation Techniques Advantages
-Insight into actual, not reported, behaviors -No chance for recall error -Better accuracy -Less cost
Marketing Research Process- Step 1: Establish the need for Marketing Research
-Is there a real need for marketing research? -Research takes time and costs money. -Value of information versus cost of information? Sometimes it is obvious that the value of the research is not worth the costs. Should be seen as an investment.
Marketing Research Process- Step 9: Collect Data
-NONSAMPLING ERRORS in data collection will occur, so researchers must know the sources of these errors and implement controls to minimize them. -Researches aim to minimize this possibility by undertaking a control referred to as validation. -Companies that specialize in data collection are referred to as field service firms.
Marketing Research Process
-Not always presented as an 11 step process -not all studies use all 11 steps -You may be able to solve the problem with secondary data( a visit to the library or google) -few studies follow these steps in order
Marketing Research Process - Step 5: Identify Information Types and Sources
-Primary data/information: data/ information collected specifically for the problem at hand -Secondary data/information: data/information already collected
Marketing Research Process- Step 11: Prepare and Present the final research report
-REPORTING, is the last step, is one of the most important phases in marketing research. -Its importance cannot be overstated because it is the report, or its presentation, that properly communicates the results to the client.
Marketing Research Process- Step 3: Establish objectives
-Research objectives, when achieved, provide the information necessary to solve the problem identified in step 2. -Research objectives state what the researches must do.
Marketing Research Process- Step 6: Determine Methods of Accessing Data
-Secondary data is relatvely easy to access; primary data is more complex. -The most popular form of accessing data online is surveys. Traditional modes of data collection, such as telephone, email, mail and face to face intercepts, still have a place in marketing research.
The Research Objective __
-Specify from whom information is to be gathered -Specify what information is needed -Specify the unit of measurement used to gather information -Word questions used to gather information using the respondents' frame of reference
Marketing Research Process- Step 7: Design Data Collection forms
-The QUESTIONNAIRE must be worded objectively, clearly, and without bias in order to communicate with respondents -If we observe respondents, the form is called an OBSERVATION FORM. -software programs are available to assist marketing researchers in preparing forms
Marketing Research Process- Step 8: Determine Sample Plan and Size
-The SAMPLE PLAN describes how each sample element, or unit, is to be drawn from the total population. Gives you representativeness! -SAMPLE SIZE refers to determining how many elements of the population should be included in the sample. Gives you accuracy!
Marketing Research Process- Step 1: Establish the need for Marketing Research- When is marketing research not needed?
-The information is already available -The timing is wrong to conduct the marketing research -funds are not available for marketing research -costs outweigh the value of marketing research
Advantages of Secondary Data
-be obtained quickly -inexpensive compared to primary data -for almost any application,some secondary data are readily available -may enhance primary data by providing a current look at issues, trends, yardsticks of performance and so on that may affect the type of primary data that should to be collected -may be all that are needed to achieve the research objective
Failure to meet an objective
-gap between what happened and what should have happened -Ex: projected customer satisfaction level vs. achieved customer satisfaction level
Disadvantages of Secondary Data
-incompatible reporting units -mismatch of the units of measurements -differing definitions used to classify the data -timeliness of the secondary data -lack of information needed to assess data credibility
Descriptive Research
-is undertaking to describe answers to questions of who, what, when, where and why -it is desirable when we wish to project a study's findings to a larger population, if the study's sample is representative.
Exploratory Research
-is usually conducted at the outset of research projects. -It is usually conducted when the researcher does not know much about the problems. -typically understood and informal -"unstructured"= procedures develop as we progress and learn more -"informal"= no formal set of objectives, sample plan or survey
Determine the Probable causes of the symptom(s)
-it is crucial to determine ALL POSSIBLE CAUSES. If only a partial list of possible causes is made, it is possible that the real cause will be overlooked. -when a PROBABLY CAUSE of the symptom is identified, this triggers a decision to be made by management
Marketing Research Process- Step 1: Establish the need for marketing research (cont)
-marketing research is not always needed -we often have the information
Descriptive Research Classifications: Cross Sectional Studies
-measure units from a sample of the populations at only one point in time (or "snapshot"). -Sample Surveys: are cross-sectional studies whose samples are drawn in such a way as to be representative of a specific population. These studies are usually presented with a margin of error.
Descriptive Research Studies: Longitudinal studies
-repeatedly measure the units of the same sample of units of a population over time -since they involve multiple measurements over time, they are often described as "movies"of the population
Uses of Marketing Research: Generate, refine, and evaluate potential marketing actions related to the marketing strategy
-selecting target markets -product research -pricing research -promotion research -distribution research
Observation Techniques Disadvantages
-small number of subjects -subjective interpretations -inability to pry beneath the behavior observed -motivations, attitudes, and other internal conditions are unobserved
Causal Research
-used to measure causality in relationships, such as "if x, then y". -"if-then statements become our way of manipulating variables of interest. -Behavioral Economics: integrates psychology with economics and other disciplines to study decision making, suggests that consumers have hidden biases and emotions that influence their actions.
Descriptive Research Studies:Discontinuous panels
-vary questions from one panel measurement to the next -these are sometimes referred to an omnibus panels meaning "including or covering many things are classes".
Uses of Marketing Research: Improve marketing as a process
1.) BASIC RESEARCH (academia, research articles in published academic journals, what your professors do when they don't teach) is conducted to expand our knowledge rather than to solve a specific problem. 2.) APPLIED RESEARCH (companies, solving specific problems: examples from book: which cookie recipe to select for our cookie production facility, apartment complex issues) is conducted to solve specific problems.
Every company does what three functions CONTINUOUSLY?
1.) Internal Reports System 2.)Marketing Intelligence System 3.)Marketing Decision Support System (DSS)
Uses of Marketing Research: Monitor Marketing Performance
1.) TRACKING DATA COLLECTED at point-of-sale terminals as consumer packaged goods are scanned in grocery stores, mass merchandisers, and convenience stores. (Scanner data projects) 2.) TRACKING SOCIAL MEDIA (feedback to new products and product reviews projects)
Step to the marketing Research Process
1.)Establish the need for marketing 2.)Define the problem 3.)Establish research objectives 4.)Determine Research design 5.)Identify information types and sources 6.)Determine methods of assessing data 7.)Design data collection forms 8.)Determine the sample plan and size 9.)Collect data 10.)Analyze data 11.)Prepare and present the final research report
Components of an MIS (marketing information system)
1.)Internal Reports System-accounting info generated from daily transactions, such as orders billings, inventory levels 2.)Marketing Intelligence System-everyday info from the environment-news. 3.)Marketing Decision Support System (DSS)- company software analyzing historical data, such as daily sales, to help make decisions;sales forecasting software. 4.)Marketing Research System- this system is the covering necessary marketing research projects in an organization. Based on a SPECIFIC PROBLEM, provides info that the first 3 systems of MIS missed or do not offer.
3 forces that shaped the Marketing Research Industry
1.)evolution of markets 2.)changes in technology 3.)globalization
MR Suppliers: a firm that is engaged in the supply-side marketing research is referred to as an ___
Agency
The marketing concept is a
BUSINESS PHILOSOPHY that holds the key to achieving organizational goals consists of the company's being MORE EFFECTIVE than competitors in creating, delivering, and communicating customer value to its chosen target markets.
Internal Suppliers: Client-Side
Conducted by internal suppliers. Research that is conducted within an organization. Use if there IS a MR department in the firm. (large firms like Fortune 500 companies). Inductries that rely heavily on MR departments include: Consumer packaged goods (CPG), pharmaceuticals,media.
Uses of Exploratory Research
Gain background information Define terms Clarify problems and hypothesis Establish research priorities
Components of an MIS: Internal Reports System
Gathers information generated within a firm including orders, billing, receivables,inventory levels, stockouts and so on. Also called the accounting information system. Can tell a manager a great deal of what has happened in the past.
MR Suppliers: Internal Suppliers
Organizations that supply their own marketing research information
MR Suppliers: Supply-side (External)
Research that is conducted by an outside firm to fulfill a company's' marketing research needs.
Marketing research is
the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.
Marketing Research Process- Step 2: Define the Problem
The need to make a decision requires decision alternatives. If there are no alternatives, no decision is necessary.
Marketing Information System (MIS)
a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. -marketing research provides information. But managers have also other sources of information at their hands to make their decisions
The Role of the Researcher in Problem Definition
a SITUATIONAL ANALYSIS is a form of exploratory research undertaken to gather background information and gather data pertinent to the problem area that might be helpful in defining the problem decision.
Marketing Research
a process used by business to collect, analyze, and interpret information used to make sound business decisions and successfully manage the business.
Market Research
a process used to define the size, location, and/or makeup of the market for a product or service.
Exploratory Research Methods: Case analysis
a review of available information about a former situations that has some similarities to the current research problem
Marketing Research Process- Step 4: Determine Research Design- Descriptive Research
a set of methods and procedures describing the marketing variables
Components of an MIS: Marketing Intelligence System
a set of procedures and sources used by managers to obtain everyday information about pertinent (relevant) developments in the environment.
Exploratory Research Methods: Secondary Data Analysis
the process of searching for interpreting existing information relevant to the research topic
construct
an abstract idea inferred from specific instances that are thought to be related
What is the main advantage of the American Community Survey?
the source of official statistics are available for free
Qualitative methods: Focus Groups: Online
client can observe the online activity from remote locations; may have 25 or even 50 respondents; allow client interaction;may take place in nontraditional locations.
Components of an MIS: Marketing Decisions Support System (DSS)
collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making.
Marketing Research Process- Step 4: Determine Research Design-Exploratory Research
collecting information in an unstructured and informal manner
Pluralistic Research
combination of both qualitative and quantitative research methods in order to gain the advantages of both
operational definition
defines a construct, such as intention to buy or satisfaction, which describes the operations to be carried out for the construct to be measured empirically.
Marketing Research Process- Step 4: Determine Research Design- Diagnostic Research
designed to determine sources of satisfaction and dissatisfaction
(Uses of Marketing Research: Identify marketing opportunities and problems)-Some marketing research studies are designed to
find out what consumers' problems are and to assess the suitability of different proposed methods of resolving those problems.(Ex: your group project in class)
Marketing Opportunity
gap between what happened and what could have happened. -Ex: Google could offer auction services to its consumers
Exploratory Research Methods: Key Information technique
gathering information from those thought to be knowledgeable on the issues relevant to the problem
Components of an MIS: Marketing Research System
gathers information not gathered by other MIS subsystems: Marketing research studies are conducted for a specific situation facing the company.
Secondary Data
have previously been gathered by someone other than the researcher for some other purpose than the project at hand.
Full-service supplier firms
have the capability to conduct the entire marketing research project for buyer firms. Typically, these are larger firms with the expertise and necessary facilities to conduct a wide variety of research that may range from qualitative studies to large international surveys to modeling the effects of a proposed marketing mix.
Qualitative research method: Projective techniques (methods)
involve situations in which participants are placed in (projected into) simulated activities in the hopes that they will divulge things about themselves that they might not reveal under direct questioning. -Word association test -Senetence completion
Consequences of the Alternatives: Information State
is the quantity and quality of evidence a manager possess for each of his or her assumptions
Marketing Research System: It gathers information ____
not gathered by other MIS component subsystems
Marketing Research Process- Step 4: Determine Research Design-Prescriptive Research
provides information that allows the manager to best remedy the dissatisfaction
Exploratory Research Methods: Experience Surveys
refer to gathering information from those to be knowledgeable on the issues relevant to the research problem
Primary Data
refers to information that is developed or gathered by the researcher specifically for the research project at hand
Marketing Research Process- Step 4: Determine Research Design-Descriptive Research
research that describes the phenomena of interest
A marketing strategy consists of
selecting a segment of the market as the company's target market and designing the proper "mix" of the product./service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market.
Marketing research process step 2: define the problem- Problems are___
situations calling for managers to make choices among decision alternatives.
Exploratory Research Methods: Focus Group
small groups brought together and guided by a moderator through an unstructured, spontaneous discussion for the purpose of gaining information relevant to the research problem
Limited-service supplier firms
specialize in one or, at most, a few marketing research activities. Firms can specialize in marketing research services such as online communities, questionnaire development and pretesting, data collection or data analysis.
Research Objectives are ___
specific and tell the researcher exactly what information must be collected to solve the problem by facilitating selection of an alternative.
Hypotheses are
statement that are taken as true for the purpose of argument or investigation. Statements of assumed consequences
Qualitative methods: Observation methods (techniques)
technique in which phenomena of interest involving people, objects and/or activities are systematically observed and how it obtains observations.
Internal Suppliers: DIY
the "democratization" of marketing research. Considered one of the most important trends for client-side marketing research departments.Ex of tools-online survey platforms (Qualtrics, survey monkey),statistical analysis tools (SPSS, R, SAS), social media monitoring tools (Hootsuite and Meltwater), data analysis and visualization dashboards. -NO MR department owner does MR -can provide info needed to solve the users' problem in a cost efficient way
Marketing
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
AMA Definition of Marketing Research
the function that LINKS the consumer, customer, and public to the marketer through information - information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process.
Marketing Research System: Marketing research projects are NOT continuous; rather,
they have a beginning and an end. -Why are they not continous like the functions in the other 3 MIS systems? Because they are time consuming and expensive to conduct.
Marketing Research function
to LINK the consumer to the marketer by providing information that can be used in making marketing decisions.
Exploratory Research Methods: Lead-user survey
used to acquire information from lead users of a new technology
