Marketing - Chapter 9

Steps in a Marketing Research Project

1. Define Problem 2. Plan Design/ Primary Data 3. Specify Sampling Procedure 4. Collect Data 5. Analyze Data 6. Prepare/ Present Report 7. Follow Up

Management Decision Problem

A broad-based problem that uses marketing research in order for managers to take proper actions

Predictive

"What if questions," such as how can descriptive and diagnostic research be used to predict the results of a planned marketing decision? Addressing "what if" questions.

Planning the Research Design

Research design specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed.

Advantages of Secondary Data

Saves time and money if on target Aids in determining direction for primary data collection Pinpoints the kinds of people to approach Serves as a basis of comparison for other data

Main Advantages of Primary Data

The main advantage of primary data is that they will answer a specific research question that secondary data cannot answer. Primary data are current and the source of data is known. Moreover, the information is proprietary.

Survey Research

The most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes

The New Age of Secondary Information: The Internet

The rapid development of the Internet has eliminated much of the drudgery associated with the collection of secondary data. Gathering secondary data has traditionally been a tedious boring job. The researcher often had to write to government agencies, trade associations, or other secondary data providers and then wait days or weeks for a reply that might never come.

Marketing Research Objective

The specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information.

Questionnaire Design

All forms of survey research require a questionnaire. Questionnaires contain three basic types of questions: Open-ended questions Closed-ended questions Scaled-response questions

Closed-Ended Question

An interview question that asks the respondent to make a selection from a limited list of responses.

Open-Ended Question

An interview question that encourages an answer phrased in the respondent's own words

Marketing Research Problem

Determining what information is needed and how that information can be obtained efficiently and effectively.

Descriptive

Gathering and presenting factual statements. What is the historic sales trend in the industry? What are consumers' attitudes toward a product?

Diagnostic

What was the impact on sales after a change in the package design? Explaining Data.

Forms of Survey Research

In-home interviews Mall Intercept Interviews Telephone Interviews Mail Surveys Executive Interviews Focus Groups

Primary Data

Information collected for the first time. Used for solving the particular problem under investigation. Advantages: Answers a specific research question Data are current Source of data is known Secrecy can be maintained

Sources of Secondary Data

Internal Corporate Info Government Agencies Trade and Industry Associations Business Periodicals News Media

Management Uses of Marketing Research

It improves the quality of decision making It helps managers trace problems It can help managers serve their customers accurately and efficiently It helps managers gauge the perceived value of their goods and services, as well as the level of customer satisfaction

The Role of Marketing Research

Marketing research is the process of planning, collecting, and analyzing data relevant to a marketing decision.

Disadvantages of Secondary Data

May not give adequate detailed information May not be on target with the research problem Quality and accuracy of data may pose a problem

Disadvantages of Primary Data

Primary data can be very expensive. Disadvantages are usually offset by the advantages of primary data.