Marketing Research Exam 1 Chapter 1 Definition of Marketing Research the function that links the consumer customer and public to the marketer through information Marketing research the systematic and objective identification collection analysis dissemination and use of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing Is systematic o Required at all stages of research o Attempts to reflect the true state of affairs Objective and conducted impartially Should be free from political and personal biases If it occurs it incurs a breach in professional standards Classification of Marketing Research Organizations engage in marketing research because Problem identification research necessarily apparent on the surface and yet exist or are likely to arise in the future research that is undertaken to help identify problems that are not o Includes market potential market share brand or company image market characteristics sales analysis short range forecasting long range forecasting and business trends research Problem solving research research undertaken to help solve specific marketing problems The Marketing Research Process Definition a set of six steps that defines the tasks to e accomplished in conducting a marketing research study These include problem definition development of an approach to the problem research design formulation fieldwork data preparation and analysis and repost preparation and presentation Step 1 Problem Definition o Define the problem purpose of the study Step 2 Development of an Approach to the problem o Formulating an objective or theoretical framework analytical models research questions and hypotheses and identifying the information needed Step 3 Research design Formulation o The blueprint for conducting the marketing research project Step 4 Fieldwork or Data Collection o Staff that operates in the field i e personal interviewing Step 5 Data Preparation and Analysis o Editing preparing coding transcription and verification of data Step 6 Report Preparation and Presentation o Documented in a written report that addresses the specific research questions identified The Role of Marketing Research Marketing Research and Competitive Intelligence o Competitive intelligence understanding of a firm s competition and the competitive environment the process of enhancing marketplace competitiveness through a greater Involves legal collection and analysis of information regarding the capabilities vulnerabilities and intentions of business competitors conducted by using information databases and other open sources and through ethical marketing research inquiry Allows companies to anticipate market developments rather than merely react to them The Decision to Conduct Research o Should be guided by a number of considerations o Market research should be undertaken when the expected value of information it generates exceeds the costs of conduction the market research project The marketing research industry o Internal supplier marketing research departments located within a firm o Suppliers provide marketing research services o External supplier or services outside marketing research companies hired to supply marketing research data Fuller service or limited service o Marketing research industry provide marketing research services the marketing research industry consists of external suppliers who o Full service suppliers companies that offer the full range of marketing research activities o Syndicated services information needs shared by a number of clients companies that collect and seel common pools of data designed to serve o Customized services companies that tailor the research procedure to best meet the needs of each o Internet services companies that have specialized in conducting marketing research on the companies that specialize in one or a few phases of the marketing companies whose primary service offering is their expertise in collecting data for client internet o Limited service providers research project o Field services research projects o Focus groups and qualitative services for focus groups and other forms of qualitative research groups and other forms of qualitative research such as one on one depth interviews services related to facilities recruitment and other services o Technical and analytical services qualitative data such as those obtained in large surveys services related to design issues and computer analysis of The role of marketing research in MIS AND DSS o Marketing information MIS and distributing pertinent information to marketing decision makers on an ongoing basis a formalized set of procedures for generating analyzing storing o Decision support systems DSS directly with both databases and analysis models The important components of a DSS include hardware and a communications network database model base software base and the DSS user Decision maker information systems that enable decision makers to interact About 40 of all international marketing research is done in western Europe 10 in japan is done in the U S Chapter 3 Research Design Research Design Research design a framework or blueprint for conducting the marketing research projects it specifies the details of the procedures necessary for obtaining the information needed to structure and or solve marketing research problems Exploratory Research insights into and comprehension of the problem situation confronting the researcher one type of research design which has as its primary objective the provision of Conclusive Research selecting the best course of action to take in a given situation research designed to assist the decision maker in determining evaluating and o More formal and structured Exploratory Research Should be used to o Formulate a problem or define a problem more precisely o Identify alternative courses of action o Develop hypotheses o Isolate key variables and relationships for further examination o Gain insights for developing an approach to the problem o Establish priorities for further research Exploratory research is good for any researcher who does not know how to proceed with a project a type of conclusive research that has as its major objective description of something Descriptive Research Descriptive research usually market characterizes of functions o Clear statement of the problem Cross Sectional Designs Cross sectional design sample of population elements
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