Marketing Research From Data to Action Chapter 1 Marketers need information Marketing research functions to 1 Gather data which is driven by a decision that we need to make 2 Transform data into useful info that managers can use to make decisions 3 Carry out those decisions usually done by marketers Date Information Action Marketing Research the organization s formal communication link with the environment gathering data to make a decision links the customer to the marketer through information Information is used to identify and define marketing problems generate refine and evaluate marketing actions monitor performance improve understanding The big unknown is our market not our understanding Who does marketing research Producers of products and services research is conducted to develop and market products and services can track customer satisfaction and customer usage patterns Advertising agencies to create and measure the effectiveness of advertising campaigns to better understand consumers and their interests and behaviors Marketing research companies some companies specialize in marketing research some may look at specific topics some may be more general Why study marketing research Learn to be a smarted consumer of research results Gain appreciation of the process The Marketing Research Process Research Process a general sequence of steps that can be followed when designing and conducting research 1 Define the marketing problem to be solved 2 Decide which research design is appropriate this depends on how much is known about the problem primary secondary data 3 Design the data collection forms to be used on the project 4 Develop and appropriate sample 5 Collect data 6 Analyze and interpret the data 7 Prepare the written research report that summarizes findings and conclusions Marketing Research Ethics Marketing Research Ethics the principles values and standards of conduct followed by marketing researchers The goal is to uncover the truth about a topic of interest Advocacy Research research that is conducted to support a position rather than to find the truth about an issue researchers may word questions in a way that they get the answer they are looking for this is to be avoided Sugging contacting people under the guise of marketing research when the goal is to sell the product service Even when an action is legal it isn t always ethical The Research Question Formulation of the Problem Chapter 2 Defining the problem problem formulation means a process of trying to identify specific areas where additional information is needed Opportunities are when managers face a situation with potential positive results Think of these two problems opportunities as two sides of the same coin The Problem Formulation Process 1 Meet with client meet with the people in need of marketing research this should be done early on in order to communicate openly and the keep everyone engaged during the whole process you also want to gather as much information as possible to gain clear understanding Planned vs unplanned change 2 Clarify the Problem Opportunity helping managers get precisely to the heart of the problem ensure the root causes and clear paths of action are determined preexisting assumptions must be challenged discussed why is the problem important Normal Thinking a routine way of looking at a business situation this is why researchers should provide a different perspective for the client 3 State the Manager s Decision Problem the basic problem facing the manager for which marketing research is intended to provide answers Why am I not making any profit is an example of a discovery oriented decision problem these questions typically seek to answer what or why basic information this kind of research rarely solves a problem in the sense of providing actionable results this type of research just yields insight to help make better decisions Strategy oriented decision problem aims more directly at making decisions commonly used for planned change with an emphasis on how the change should be implemented 4 Develop Possible Research Problems a restatement of the decision problem in research terms from the researcher s perspective specifically states what research can be done to provide answers to the decision problem Ex Determine what sales levels are required to break even 5 Select Research Problem s to be Addressed review each research problem in terms of the trade off between the benefits of information to be obtained the importance of decisions to follow and the costs of obtaining that information It is better to assess one or two problems than to try to assess multiple problems and do a sub par job 6 Prepare a Research Request Agreement summarizes the problem formulation process and includes background decision problem research problem s use population and subgroups logistics The Research Proposal Research Proposal a written statement that describes the marketing problem the purpose of the study and a detailed outline of the research methodology Request for proposal RFP a document that describes the problem for which research is sought and asks providers to offer proposals including cost estimates about how they would perform a job this is how many research proposals are written Parts of the Research Proposal Problem Definition and Background ashort summary of information including the background manager s decision problem and specific research problems Research Design and Data Sources type of research design and proposed sources of data where to find the data type of techniques to be employed Sampling Plan description of the population to be studied state the sample size discuss the sampling method Data Collection Forms forms to be used when gathering data a questionnaire Analysis statistical techniques to be performed Time Schedule outline of the plan to complete the study timeline Personnel Requirements and Cost Estimate list of all personnel who will be required indicating jobs time duration rate of pay and each person s responsibility and authority Exploratory Descriptive and Causal Research Designs Chapter 3 Types of Research Design Exploratory Research discover ideas and insights vague guidelines not very specific Descriptive Research describing a population or characteristics with respect to important variables determine the proportion of people who behave in a certain way Causal Research used to establish cause and effect relationships between variables condition X causes event Y
View Full Document
Unlocking...