Chapter 1 Into to Market Research Market Research 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 1 Classifying Marketing problems a Problem Identification Research Exploratory Used to help identify problems that are not necessarily apparent on the surface and yet exist or are likely to arise in the future i Examples Market Potential Market Share Image Research Market characteristics sales analysis forecasting and business trends b Problem Solving research Conclusive Undertaken to help find a solution to specific and defined marking problems i Examples Segmentation Product Pricing Promotion and Distribution Research 2 Marketing Research Process Six steps that defines the tasks to be accomplished in the market research study a Problem Definition i The problem must be precisely defined to guide the research b Development of an approach to the Problem i Formulating and objective or theoretical framework models questions and hypotheses and identifying the information needed for the analysis c Research Design Formulation i The framework for conducting market research project 1 Define the information needed analyzing secondary data conducting qualitative research what method is going to be used to collect quantitative data measurement and scaling questionnaire design sampling process and sample size Plan of data analysis d Fieldwork Data Collection i Personal interviews telephone mail e mail e Data Preparation and Analysis transcription and verification of the data f Report Preparation and Presentation i Data Entry and verification Statistical analysis of the data The editing coding i Documentation of process and report is analyzed and presented to those who are in 3 Internal vs External Market Researchers the management decision positions a Internal In house marketing research departments of large firms Could be centralized or decentralized Often outsource specific tasks to external suppliers b External Market Research Industry Market research companies hired to supply market research data Range from small one many operations to large global operations i Full Service Companies that offer the entire range of marketing research services from problem definition approach development questionnaire design sambaing data collection data analysis and interpretation to report preparation and presentation ii Limited Service A company that offers one or more of the services offered by the full service company Often a smaller sized company than the Full Service and specialized in their service offering iii Syndicated Companies who collect information of known commercial value that they provide based of subscription based clients 1 Nielsen Kantar Hopkins Research Group 4 Competitive Intelligence CI Process of enhancing marketplace competitiveness through a greater understanding of a firm s competitor s and the competitive environment 5 MIS and DSS a Marketing information systems MIS Formalized set of procedures for generating analyzing storing and distributing information to marketing decision makers on an ongoing basis b Decision Support Systems enable decision makers to interact directly with both databases and analysis models Using integrated systems including hardware communications network database model base software base and the decision makers MIS Structured Problems Use of Reports Rigid Structure Information displaying Restricted Can improve decision making by decision making by clarifying raw data DSS Unstructured Problems Use of Models User Friendly Interaction Adaptability Can improve decision making by using what if analysis Chapter 2 Research Design Research Design The Framework or blueprint for conducting a marketing research project Specifies the details of the procedures necessary for obtaining the information needed to structure and or solve marketing research problems Research Design Exploratory Conclusive Descriptive Causal Cross Sectional Logitudional Single Multiple 1 Exploratory Research Provides insight into the problem confronting the researcher 2 Conclusive Research Research to test specific hypotheses and examine specific relationships a Often used in tentative decision making b Qualitative information c Focus Groups Information is clearly specified a Definitive Answers b Quantitative information c Statistical analysis Research DesignExploratoryMultipleLogitudional Causal 3 Descriptive Research Used to understand and describe the relationships between market characteristics and functions a Clear statement of a problem well defined hypotheses and specific information needs i Who what when where why way b Used to i Describe the characteristics of relevant groups ii Estimate percentage of units in a specified population exhibition a certain behavior iii Determine perception of product characteristics iv Determine the degree to which marketing variables are associated v Make specific perdition c Assumes that the researcher has much prior knowledge about the problem situation 4 Causal Research Obtain evidence of cause and effect causal relationships a Loftier than descriptive research it requires a carefully controlled experimental design b Uses i Understand Which variables are the cause and which are he effect ii Determine the nature of the relationship between the causal variable and the effect 5 Cross Sectional Collecting information from any given sample of population elements only to be predicted once a Single Cross Sectional A cross sectional design in which the sample drawn from the target population and information is collected only once b Multiple Cross Sectional Two or more samples of respondents with information only i Cohort Analysis Two or more samples not from the same target population but experiencing the same situation have information collected only once 6 Longitudinal The same sample of respondents is measured on the same set of variable at the collected once multiple time periods Total Error Random Sampling Error Non Sampling Error Response Error Non Response Error Researcher Error Interviewer Error Respondent Error Sources of Error Total Error The variation between the true mean value in population of the variable of interest and the observed mean value obtained in the marketing research project 1 Random Sampling Error Occurs because the particular sample selected is n
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