Exam 1 Study Guide Chapter 1 Marketing Research the systematic and objective identification collection analysis dissemination and use of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing Split into problem identification problem solving research Value of information exceeds the cost Problem identification research Research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or likely to arise in the future analysis of secondary data focus groups and market potential surveys Market share image characteristics sales analysis forecasting trends Firm that is in a growing market but reducing in market share Consider the economic social cultural or consumer behavior Problem solving research research undertake to help solve specific marketing problems segmentation product pricing promotion product reseach to redevelopment of project Marketing research process 1 Define Problem 2 Find Approach to Problem 3 Make Research Design a Analytical wor models research questions and hypotheses a Framework for conducting the market research project 4 Do Field Work or Collect Data a High quality data collection 5 Prepare and Analyze Data a Make sure data is usable and accurate 6 Prepare and Present the Report a All steps are put together in report with supporting graphs etc b Apply to contemporary issues international social media ethics Competitive intelligence The process of enhancing marketplace competitiveness through a greater understanding of a firms competitors and competitive environment Allows companies to anticipate market developments RSS feeds to subscribe to companies newsletters anonymously Internal supplier client side Marketing research departments located within a firm corporation Kellogg P G Cant be distributed among the separate divisions products customers or geographical regions may have their own market research group External supplier supplier side Outside market research companies hired to conduct a complete marketing research project or a component of it Gangas Full service suppliers Companies that offer the full range of marketing research activities Syndicated Services Nielsen TV ratings collect and sell common pools of data designed to serve information needs of multiple clients Customized services Tailor research procedures to best meet the needs of each client Meritz Gangas Internet services Specialize in conducting research on the internet o Social media consumer online behavior Limited service suppliers Companies that specialize in one or few steps of marketing research process Field services Offer collecting data for research projects only collection of data o Interviewing rooms focus groups mail telephone Focus group and Qualitative services services related to facilities recruitment and other services for focus groups and other forms of qualitative research o One on one depth interviews Technical and Analytical services Services related to design issues and computer analysis of quantitative data o Data obtained in large surveys software packages Example question Customized services A specialize in one or a few phases of the marketing research project B are research studies conducted for different client firms but in a different way C collect and sell common pools of data designed to serve information needs shared by a number of clients D offer a wide variety of marketing research services tailored to suit a client s specific needs Chapter 2 Problem definition A broad statement of the general problem and identification of the specific components of the marketing research problem Discussions with decisions makers Interviews with industry experts Secondary data analysis Qualitative research o Problem definition based on symptoms can be misleading sugary orange pop Secondary data Data collected for some purpose other than the problem at hand Info that is made available by business and government sources quick source Before primary data important in problem definition process Primary data Data originated by the researcher to address the research problem Qualitative research Management decision problem The problem confronting the decision maker It asks what the decision maker needs to do Action oriented Ex should a new product be introduced Should the advertising campaign be Focuses on symptoms changed Marketing research problem The marketing research problem asks what information is needed and how to can best be obtained Information oriented Focuses on the underlying causes Make sure it is not to broad or too narrow Ex To determine consumer preferences and purchase intentions for the proposed new product To determine the effectiveness of the current advertising campaign Research questions Refined statements of the specific components of the problem RQ s address the problem components The Problem Audit A comprehensive examination of a marketing problem to understand its origin and nature finds the underlying causes of the problem Make sure to go over all alternatives Gather all information to answer DM question Example question The is a broad statement of the general problem and identification of the specific components of the marketing research problem A problem audit B management problem C problem definition D none of the above Chapter 3 Research design A framework blueprint for conducting the marking research project Details the procedures necessary for obtaining the information needed to structure or solve marketing research problem Exploratory research Research design that has its primary objective the provision of insights into and comprehension of the problem situation confronting the researcher Information defined loosely flexible qualitative Followed by further research conclusive Case studies surveys qualitative research Uses formulate problem find other courses of action make hypothesis priorities Conclusive research Assists the decision maker in determining evaluating and selecting the best course of action for a given situation To test specific hypotheses and examine relationships Need clearly and define information Formal structure quantitative research Findings are inputted to decision making Descriptive research A type of conclusive research that has as it major objective the description of something usually market characteristic or functions Describes market characteristics or functions Marked by the prior