Chapter 10: Marketing Research
What are the 5 Steps in the Marketing Research Process?
1. Define the problem or research objectives. 2. Design the research plan. 3. Collect data 4. Analyze data 5. Develop findings and recommendations 6. Conduct follow-up
Syndicated data (External Secondary data)
available for a fee from commercial research firms such as IRI, National Purchase Diary Panel, Nielsen.
Data Mining
using variety of statistical analysis tools to uncover previously unknown patterns in the data
Primary Data
data collected to address specific research needs
For which type of research purposes are surveys, experiments and focus groups best suited?
Qualitative research.
Describe the various secondary data sources
External: US Census, the internet, books, articles, trade associations, or syndicated data services Internal: sales records, customer lists
Distinguish between probability and non-probability samples.
Non-probability sampling does not involve random selection. Probability sampling does.
Describe the various primary data collection techniques
Observation, social media, in-depth interviews, focus groups, surveys, panels, experiments.
Distinguish between qualitative and quantitative research.
Qualitative: used to understand the interest through broader open-ended responses, like interviews Quantitative: structured responses that can be statistically tested, like panel data
Summarize the differences between secondary data and primary data
Secondary: quicker, easier, less expensive Primary: can be more informative, but also more expensive and time-consuming
Examine the circumstances in which collecting information on consumers is ethical
Should not be under the guise of marketing research when it is for selling something or fundraising. It should be for the sole purpose of research, and marketers must take responsibility for protecting any information they collect.
Focus Groups
how consumers feel, why opinions are held, and plan further research
Panel Data
info collected from consumers and organized into panels overtime.
Data Warehouses
large computer files that store individual data
Secondary Data
pieces of info that have been collected prior to the start of the focal research project
Scanner Data
research boated from scanner readers using UPC codes