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Radford MKTG 446 - Lecture Notes

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1Marketing ResearchIntroductionAngela D’Auria Stanton, Ph.D.Marketing ResearchAbdAnybody Can Do ItMarketing ResearchHistory & BackgroundMarketing research is not something new--it goes a long way back. The children of Israel sent interviewers to sample the market and the produce of Canaan. 1308 the Johann Fugger family used marketing research in their international sale of textiles. 1720 Daniel Defoe's "A Tour Through the Whole Island Of Great Britain" presented a fli t fth b i d i fE l d dS tl dcareful inventory of the business and economic resources of England and Scotland. July 24, 1824 The Harrisburg Pennsylvania reported a straw vote at Wilmington, Delaware. Andrew Jackson received 335, John Quincy Adams 169, Henry Clay 19, and William H. Crawford 9. 1879 N. W. Ayer and Son applied marketing research to advertising problems. 1895 Professor Barlow Gale of the University of Minnesota is credited with the first mail questionnaire to advertising practitioners. Curtis Publishing Company established the first marketing research department at the turn of the century – the Campbell’s Soup story. 1911 R. O. Eastman working for the Kellogg Company conducted a postcard survey to determine which magazines were read by different classification of people. 1917 Eastman conducted a survey to determine the market value for the trade name MAZDA for General Electric. Etc., etc.2The Marketing Concept What is it?Where/How does Marketing Research fitWhere/How does Marketing Research fit in? The case of the quarter inch drill bit…did they follow the marketing concept?Marketing Research Defined The difference between market research and marketing research Definition from the American Marketing Association:Marketing research is the function which links the consumer, g,customer, and public to the marketer through information-- information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. A simpler definition:Marketing research is the process of gathering data and transforming it into information for the purpose of marketing management decision making.Aspects of the Definition It is a logical, systematic, empirical and replicatable process Designing methods for collecting information Managing the information collection processgg p Analyzing and interpreting results Communicating findings to decision It aids in decision-making – BUT it does NOT make decisions! It is a large importer of methodologies3Information & Decision-Making From a practical point of view, information must possess certain characteristics if it is to be useful for decision making. This information must be: Current Sufficient Available Relevant Accurate ReliableWhy Do Marketing Research? To learn something new Tradition To gain agreement Legal Cases Evaluate elements of the marketing mixSTRATEGIC DECISION AREASFOR MARKETING RESEARCHPRODUCT PLACE PROMOTION PRICEFeaturesAccessoriesInstallationInstructionsServiceWarrantyObjectivesChannelsMarket ExposureKinds of MiddlemenKinds and Locations of StoresObjectivesMarket ExposureSales PeopleKindNumberSelectionObjectivesFlexibilityLevelChanges Over Product Life CycleGeographic TermsWarrantyProduct LinesPackagingBrandingof StoresWho Handles Transporting and StoringService LevelsSelectionTrainingMotivationAdvertising Tar getsKinds of AdsMedia TypeCopy ThrustPrepared by Whom Sales PromotionPublicityGeographic TermsDiscountsAllowances4Another Way of Looking at ThisMarketing Research Industry There’s still growth ( Revenue Increases attributed: To post sale customer satisfaction studies To retail driven product scanning systemsTo database development for long-term brand managementTo database development for longterm brand management To international research studiesTypes of Firms Types of Marketing Research Firms InternalExternal (theHonomichl50)External (the Honomichl50) Full Service Research Firms Customized – provides highly specialized services Standardized – provides syndicated business services which include purchase diary panel audits and advertising recall data made or developed from a common data pool or database Facilitating Agencies Field services Independent consultants Advertising agencies5 Fundamental Business skillsCiti Marketing Research skills Ability to understand and interpret secondary dataChanging Skills For A Changing Industry++Communication skills Interpersonal skills Statistical skillsinterpret secondary data Presentation skills Foreign-language competency Negotiation skills Computer proficiency Critical thinking++ Soliciting bids with no intentions of hiringUsing the information from the proposalsUnethical Activities by the Client/Research UserUsing the information from the proposals yourself Promising a prospective research provider a long-term relationship or additional projects to get a low price Unethical Activities by the Research Provider or Research Company Unethical pricing practices Do not provide the promised incentiveCreate respondent abuseEthical IssuesCreate respondent abuse Selling unnecessary research service Falsifying data Duplicating actual response data Manipulating the data inappropriately Unethical Activities by the Respondent Providing dishonest answers or faking behavior or Unethical? A food warehouse club advertises “savings up to 30% after a survey showed a range of savings from 2 to 30% below average prices for selected items. A researcher tells a potential respondent that an interview will last 10 minutes rather than the 30 minutes he or she actually anticipates? A radio station broadcasts the following message during a syndicated rating service’s rating period: “Please fill out your diary” (which lists what media the consumer has been watching or listening to).Ethical or Unethical? A respondent

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