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