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