Marketing Chapter 4

Observational Method

Data collection approach in which researcher records consumer behaviors, often without their knowledge. Direct observation, unobtrusive measures, mechanical systems

First Step in the Market Research Process

Define the Research Problem

Fourth Step in the Market Research Process

Design the Sample

Second Step in the Market Research Process

Determine the Research Design

Acquired Databases

Externally sourced databases that can be used collect a variety of information, such as government databases

Seventh Step in the Market Research Process

Prepare the Research Report

Goal of the Marketing Insights function

Transform data into information

Four components going into MIS

Internal Company Data, Marketing Intelligence, Marketing Research, Acquired Databases

Information

Interpreted Data

Descriptive Research

Systematically investigate marketing problem, results expressed in quantitative terms. Cross-sectional, longitudinal

Marketing Research Ethics

Taking an aboveboard approach to conducting market research does no harm to the participant

Marketing Decision Support System

The data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need.

Steps to Define the Problem

1. Specify the research objectives 2. Identify the consumer population of interest 3. Place the problem in an environmental context

Two major types of online research

1. Gathering info from online surfing 2. Gathering info via online sources

Determine the Research Design Definition

A plan that specifies what information marketers will collect and what type of study they will do

Sixth Step in the Market Research Process

Analyze and interpret the data

Causal Research

Attempts to identify cause-and-effect, independent and dependent variables. Laboratory Research

Third Step in the Market Research Process

Choose the Method to Collect Primary Data

Fifth Step in the Market Research Process

Collect the Data

Internal Sources

Company Reports, Previous company research, Salesperson Feedback, Customer feedback

Builds a Database for MIS

Computer Hardware and Software

Syndicated Research

Gathered research by a firm, usually very broad but is sold to other firms

MDSS Question

Has our decline in sales simply reflected changes in overall industry sales, or is there some portion of the decline that industry changes cannot explain.

Marketing Intelligence

Information about the marketing environmentGathered via monitoring of everyday data sources, observations, discussions with sales representatives

Internal Company Data

Information generated from within the company

Survey Methods

Mail questionnaires, Telephone interviews, Face-to-face interviews, Online questionnaires

Bounce Rate

Measure of how many visitors come to a page on a website and leave without viewing any other pages. Used to determine whether an entry page effectively generates visitor interest. BR= total number of visitors viewing one page only / total entries to the web page

External Sources

Published Research, Trade organizations, Syndicated Research, Government sources

Data

Raw, unorganized facts

Market Research

Refers to the process of collecting , analyzing, and interpreting data about customers, rivals, and the business environement

Secondary Data

Research and data that is already out there and readily available. Internal and External Sources

Custom Research Reports

Research conducted for a single firm to provide specific information its managers need

Primary data

Research for a particular problem or project. Exploratory research, Descriptive research, Casual research

Exploratory Research

Useful for gaining better understanding of problem and identifying new opportunities. Customer interviews, Focus groups, Projective techniques, Case studies, Ethnographies

Predictive Technology

Uses shopping patterns of large numbers of people to determine which products are likely to be purchased if others are

Three things to consider for Data and Measurement Quality

Valididity, reliability, representativeness

MIS Question

What were our company sales of each product during the past month and year