Marketing Chapter 10

qualitative data

"you dont know the reason for the problem" "why are sales down" gather preliminary information define problems suggest hypotheses observation in-depth interviews focus group interviews social media

sentiment mining

data gathered by evaluating customer comments posted through social media sites such as facebook or twitter

big data

data sets that are too large and complex to analyze with conventional data mangagement and data minim software

marketing research process

1. define objectives and research needs 2. designing the research 3. data collection process 4. analyzing data and developing insights 5. action plan and implementation

in depth interviews

ask one person questions record answers ask follow up questions very few people

structured questions

closed-ended questions for which a discrete set of response alternatives, or specific answers, is provided for respondents to evaluate

data are systematically

collected recored analyzed interpreted to become useful information

data mining

the use of a variety of statistical analysis tools to uncover previously unknown patterns in the data stored in databases or relationships among variable

step 4. analyzing data and developing insights

thorough and methodical purpose: convert data into information describe, explain, predict, and/or evaluate a particular situation big data

questionnaire

unstructured questions -open ended answers structured questions -answers provided for you, you chose something there (ex: scale, multiple choice)

step 1. define objectives and research needs

what problem needs solved? what information is needed? cost vs. benefit analysis

quantitative research notes

confirm preliminary insights test hypotheses fro qualitative research responses structures so that they can be statistically tested survey research experimental research

cost vs benefit analysis

cost of doing research (how much to spend) to get relevant information get most relevant information for the least amount of money

syndicated data

data available for a fee from commercial research firms such as information resources inc (IRI), national purchase diary panel, and nielsen

primary data

data collected for your research study at hand you hire a research firm or you do the research to answer questions more costly (time and money) qualitative data quantitative research

primary data

data collected to address specific research needs

unstructured questions

open-ended questions that allow respondents to answer in their own words

step 3. data collection process

*most costly step go whole thing *the step most subject to error secondary data primary data

questionnaire

A form that features a set of questions designed to gather information from respondents and thereby accomplish the researchers' objectives; questions can be either unstructured or structured.

focus group interview

A research technique in which a small group of persons (usually 8 to 12) comes together for an intensive discussion about a particular topic, with the conversation guided by a trained moderator using an unstructured method of inquiry.

experimental research (experiment)

A type of conclusive and quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on another variable.

sample

a group of customers who represent the customers of interest in a research study

marketing research

a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ides

survey

a systematic means of collecting information from people that generally uses a questionnaire

scanner data

a type of syndicated external secondary data used in quantitative research that is obtained from scanner readings of UPC codes at checkout counters

observation

an exploratory research method that entails examining purchase and consumption behaviors through personal or video camera scrutiny

in-depth interview

an exploratory research technique in which trained researchers ask questions, listen to and record the answers, and then pose additional questions to clarify or expand on a particular issue

observation

examine purchase and consumption behaviors -personal observation -video observation -ethnogrpahic research/ethnography study

secondary data

external -census, trade publications, magazines, etc -syndicated data: scanner and panel research (pay a fee for) (panel research: one group of people over time) internal -data warehouses, data mining, big data -credibility issue (what is the intent)

web surveys

faster cheaper people tend to lie less on them

qualitative research

informal research methods, including observation, following social media sites, in depth interviews, focus groups, and projective techniques

panel data

information collected from a group of consumers

data warehouses

large computer files that store millions and even billions of pieces of individual data

social media

lots of data meaningful insights -sentiment mining (customer perceptions and resolve customer complaints) -virtual community

step 5. action plan and implementation

marketing research report -executive summary (same thing as abstract) -body of report (research objectives, methodology, detailed findings) -conclusions -limitations -supplements

virtual community

online networks of people who communicate about specific topics

information

organized, analyzed, interpreted data that offer value to marketers

secondary data

pieces of information that have already been collected from other sources and usually are readily available

experimental research

systematically manipulate one or more variables determine causal effect on other variables

survey research

questionnaire web surveys

data

raw numbers or facts

focus group interviews

small group of people conversation guided by a moderator observed by people in another room video recorded

step 2. designing the research

specify constraints (budget, amount of people, etc) type of data type of research

quantitative research

structured responses that can be statistically tested to confirm insights and hypotheses generated via qualitative research or secondary data

ethnographic research/ ethnography study

study people in their natural habitat nothing simulated --> natural

objective

successful decision making