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ODU MKTG 311 - Develop Research Plan for Collecting Info. and Collect Relevant Information

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MKTG 311 1st Edition Lecture 7 Outline of Last Lecture I. Developing Competitive Marketing StrategiesII. New Classification for Competitive Positioning Strategies III. Strategies for Market Leaders, Challengers, Followers and NichersIV. The Marketing Information System (4 parts)V. Step 1: Define Research Problem/Set ObjectivesVI. Exploratory ResearchOutline of Current Lecture I. Exploratory Research ContinuedII. Step 2: Develop Research Plan for Collecting Info.III. Step 3: Collect Relevant InformationCurrent LectureI. Exploratory Research Continued-- Uses larger samples- Quantitative Data- Focuses on averages, percentages and other statistics- Purpose- Tries to find the frequency that something occurs or the extent of a relationship between two factors.- 2 types- Cross- section and Longitudinalo Cross- section: Most common, data that may be collected on more than one occasion but generally not from the same pool of respondentso Longitudinal: Tracks the responses of the same pool of respondents over time.- Casual Research- Most complex looks at cause and effect relationships and what kind of effect an independent variable has on a dependent variable. Example- Creative test (design of magazine cover)II. Step 2: Develop Research Plan for Collecting Info.- Specify constraints: Money and time rank the highest. How do you select survey respondents for the study? Probability: Scientific or Non Probability: Informal, judgment of the market researchers.- Probability Samples1. Random Sample- Each member of the population has a known and equal chance of being selected for the purpose of the study. Example- Registrar’s list Strome College studentsThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.2. Systematic Sample- Select every nth person (5th). Example- Randomly select student from Strome College list and then every 5th person.3. Stratified- Divide population into related segments and then select. Example- Strome College list, segment by class: Freshmen, Sophomore, Junior, Senior, and then select.- Non- Probability Sample- Informal1. Convenience sample- the market researcher will select whoever is available. Example- Conduct my study following class (whoever is available)2. Quota sample- select same proportion of individuals with characteristics in the larger population. Example- conduct study following class, ask if freshman, sophomore, etc. then when you have enough, close out that class year.III. Step 3: Collect Relevant Information- 2 types of studies: Secondary research, primary researchSecondary Research- Internal data: customer data and sales reports, External data: sources about competition and marketing, Environment: books, periodicals,online databases, websites+ Cost, time- Not customized, may not be relevant, accurate, current, or impartial.- Primary Data- 2 basic typeso Observation Data- uses a passive instrument to record consumer behavior, often unawareo Questionnaire or survey- involves direct contact with the consumer- Observation Data- 3 typeso Personal observation- watching consumers in action to see how they react to marketing activities. Example- mystery shoppers.o Ethnographic research- specialized form of personal observation where the market researcher gets permission to observe you in home/ in car. Example- Gillette oral B cross action toothbrusho Mechanical observation- Relies on non-human devices to record behavior. Example- Nielsen diaries video


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ODU MKTG 311 - Develop Research Plan for Collecting Info. and Collect Relevant Information

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