chapter 10 - marketing research

Ethics of using customer information - AMA guidelines

1) AMA is the American Marketing Association 2) AMA provides 3 guidelines for conducting marketing research a) It prohibits selling or fund-raising under the guise of conducting research b) it supports maintaining research integrity by avoiding misrepresentation or the omission of pertinent research data c) it encourages the fair treatment of clients and suppliers

What methods could be used for quantitative research?

1) Experiments 2) Survey 3) Scanner 4) Panel

What methods could be used for qualitative research?

1) focus groups 2) observation 2) in-depth interviews 4) project techniques

List advantages and disadvantages of Primary Data

Advantages: 1) Specific to the immediate data needs & topic 2) Offers behavioral insights not available from secondary data Disadvantages: 1) Costly & time consuming 2) Requires more training & experience to design study and collect data

List advantages and disadvantages of Secondary Data

Advantages: 1) Saves time as readily available 2) Free or inexpensive Disadvantages 1) May not be relevant 2) May not be timely 3) Methodologies used to collect data may not be appropriate 4) Data sources may be biased 5) Sources may not be original

What is Primary Data

Data collected to address specific research needs, usually through observation, focus groups, interviews, surveys, or experiments

Big picture of ethics of using customer information

Marketing research should be used only to produce unbiased, factual information. Confidentiality is one of the first rules under the Code of Ethics.

What is a unstructured question and when would you use it

Part of Survey Research process Is a type of question on the questionnaire Part of the Quantitative process Open-ended questions that allow respondents to answer in their own words.

What is a structured question and when would you use it

Part of Survey Research process Part of Quantitative process Is a type of question on the questionnaire Closed-ended questions for which a discrete set of response alternatives, or specific answers, is provided for respondents to evaluate.

What is Secondary Data?

Pieces of info that have already been collected from other sources Can come from internal and external sources. Plentiful and FREE or inexpensive External sources include: internet, census data, info from trade associations, and reports published in magazines. External sources could be syndicated data which is more detailed but can be costly (example: Nielsen, JD Power, Roper Center for Public Opinion Research) Internal sources include: info collected from businesses themselves and stored and can be found in data warehouses or by data mining.

In step 2 of the Marketing Research Process, known as Designing the Research, researchers have to determine what type of data they need and where to get the data. List the 2 choices they have to do this.

Secondary data and Primary data

Name and define Step 1 of the Marketing Research process which is Defining the Objective

Step 1 is Defining the objective, researchers... 1) assess the value of a project 2) compare the benefits vs the costs of research 3) determine what info is needed to address a particular problem/issue

Describe the Marketing Research Report steps in detail

Step 1: Executive summary, typically 2 pages, states objective of study, methodology, and key insights Step 2: Body, review of the objectives, issues examined, methodology, analysis and results. Step 3: Conclusions which are basically the recommendation and therefore's Step 4: Limitations are cautions or caveats Step 5: Supplements, tables, appendices

Name and define Step 2 of the Marketing Research process which is Designing the Research

Step 2 is Designing the research , researchers 1) type of data needed and 2) determine the research necessary to collect them Remember, that the objectives of the project drive the type of data needed

Name and define Step 3 of the Marketing Research process which is Collecting the Data

Step 3 is Collecting the Data Based on the design of the project, data is collected from secondary or primary data sources. Secondary data is a) info that has previously been collected prior to the start of project. b) Can include both external and internal data sources. c) Secondary data is cheaper than primary data. Primary data is a) collected to address specific research needs. b) Examples of collection methods include focus groups, in-depth interviews, and surveys. c) Primary data research is costly.

Name and define Step 4 of the Marketing Research process which is Analyzing the Data

Step 4 is Analyzing the data and developing insights, researchers: a) Researchers analyze collected data to generate meaningful info. b) Data is defined as raw numbers or facts that on it's own have limited value to marketers. c) When the data is interpreted, organized, and analyzed it becomes 2 things: 1) it becomes information and 2) it offers value to marketers

Name and define Step 5 of the Marketing Research process which is Developing and Implementing action plan

Step 5 is Developing and implementing an action plan... a) analyst prepares the report and presents them to the appropriate decision makers. b) Report includes: Exec Summary, Body, Conclusion, Limitations, Supplements (including tables, figures, appendices)

List the types of research

There are 2 types of research in general 1) Qualitative (exploratory) research which is not intended to be based on numbers/figures. 2) Quantitative (conclusive) research is driven by statistics

Define the marketing research process

There are 5 steps Not all steps are required Step 1 is Objectives and research needs Step 2 is Research Step 3 is Collecting the data Step 4 is Analyzing the data Step 5 is Developing and implement action plan