Objectives

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Transcript Objectives

Chapter 4:

Marketing Research and Information Systems

Pride/Ferrell

Foundations of Marketing

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Objectives

Define

marketing research

and understand its importance.

Describe the basic steps in conducting marketing research.

Explore the fundamental methods of gathering data for marketing research.

Describe how tools such as databases, decision support systems, and the Internet facilitate marketing information systems and research.

Identify key ethical and international considerations in marketing research .

Marketing Research

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The systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities.

Importance of Marketing Research Irwin provides services to help companies better understand their customers’ needs

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The Benefits of Marketing Research

Facilitates strategic planning Assess opportunities/threats Ascertain potential for success Determine feasibility Improves marketer’s ability to make decisions

The Marketing Research Process

Locating and Defining Issues or Problems

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Focusing on uncovering the nature and boundaries of a situation or question related to marketing strategy or implementation

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Departures from normal or expected marketing results

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Typical problems requiring research

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Discover reasons for exceeding/not meeting goals

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Evidence of possible or potential market opportunities

Defining the Problem

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Nature/scope of situation

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Clear definition of need

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Determine precisely what research is to determine

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How will research be used?

Designing the Research Project

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Research Design

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An overall plan for obtaining the information needed to address a research problem or issue

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Hypothesis

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An informed guess or assumption about a certain problem or set of circumstances

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Accepted or rejected hypotheses act as conclusions for the research effort

Types of Research

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Exploratory Research

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Conducted to gather more information about a problem or to make a tentative hypothesis more specific

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How are consumers car buying habits changing?

Conclusive Research

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Designed to verify insights through objective procedures and to help marketers in making decisions

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What % of consumers will consider an electric car purchase?

Descriptive Research

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Conducted to clarify the characteristics of certain phenomena to solve a particular problem

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How are consumers gathering information to assist in car buying?

Experimental Research

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Research that allows marketers to make causal inferences about relationships

Differences Between Exploratory and Conclusive Research

Reliability and Validity

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Reliability

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A condition existing when a research technique produces almost identical results in repeated trials

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also considered as ‘repeatability’ if results can be replicated

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Validity

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A condition existing when a research method measures what it is supposed to measure

Collecting Data

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Primary data:

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Is observed, recorded or collected directly from respondents

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Is collected to address a specific problem that cannot be answered by secondary data alone

Primary Data Collection M/A/R/C works with multinational companies to collect primary data to maintain strong brand equity

Collecting Data

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Secondary data:

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Is compiled both inside and outside the organization

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Is for some purpose other than the current investigation

External Sources of Secondary Data

Methods of Collecting Primary Data

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Population - all the elements, units, or individuals of interest to researchers for a specific study

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Sample - a limited number of units chosen to represent the characteristics of the population

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Sampling - the process of selecting representative units from a total population

Probability Sampling

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Probability sampling

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sampling technique in which every element in the population being studied has a known chance of being selected for study

Random sampling

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type of probability sampling in which all units in a population have an equal chance of appearing in a sample

Stratified sampling

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type of probability sampling in which the population is divided into groups according to a common attribute; a random sample is then chosen within each group

Nonprobability Sampling

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Nonprobability sampling

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sampling technique in which there is no way to calculate the likelihood that a specific element of the population being studied will be chosen

Quota sampling

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nonprobability sampling technique in which researchers divide the population into groups and then arbitrarily choose participants from each group

How Types of Sampling Align

Sampling Probability Random Sampling Stratified Sampling

Nonprobability Quota

Survey Methods

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Mail

• Sample Mail Survey

Telephone

• Sample Phone Survey

Online

• Sample Online Survey

Personal Interview Collecting Data Through Surveys Infosurv assists clients in the development and execution of online surveys

Social Networking and Surveys

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Social networking sites

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can be used to gather useful information in understanding consumer decisions – provide a new way for marketers to conduct market research.

Comparing Four Basic Survey Methods

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Forms of Personal Interviews

Focus-group

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observation of group interaction when members are exposed to an idea or concept In-home/Door-to-Door

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takes place in respondents’ homes Customer advisory boards

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small groups of actual customers providing feedback on ideas, products, marketing strategies

Kentucky Fried Chicken “Mom’s Matter”

Telephone depth

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combines ability to probe with confidentiality

Computer Assisted Telephone Interviewing (CATI) •

Shopping-mall intercept

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interviewing a % of persons walking through malls

Benefits of a Personal Interview

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Rapport More in-depth

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Probes Follow-up Tests

Longer Yield more information Respondents can be carefully selected, reasons for nonresponse explored Allow you greater flexibility

Questionnaire Construction Question Types

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Open-Ended Question

What is your general opinion about coffee shops?

________________________________________________ _______________________________________________

Dichotomous Question

Have you ever purchased a coffee product?

Yes _____ No _____

Multiple-Choice Question

What income group are you in?

$0-$19,000 _____ $20,000-$59,999 $60,000-$99,000 more than $100,000 _____ _____ _____

Observation Methods

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Direct contact with subject is avoided to reduce possible awareness of observation process.

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Physical conditions, subject actions, and demographics are noted.

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Observations may be combined with same subject interviews.

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Data gathered may be influenced by observer bias.

Interpreting Research Findings

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Statistical interpretation - focuses on what is typical or what deviates from the average Interpreting Research Companies like Market Strategies can help interpret the data collected from market research and offer insight into the areas investigated

Reporting Research Findings

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Prepare a formal, written document

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Clear, objective look

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Point out deficiencies

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Formal, written document

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Determine level of detail

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Summary/recommendations first

Using Technology to Improve Marketing Information Gathering and Analysis

Using Technology Re Rez uses some of the most advanced marketing research technology to assist clients

Technology and Information Gathering and Analysis

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Increasingly accessible

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Customer relationship management enhanced

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Permits internal research and quick information gathering

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Access array of valuable information sources

Types of Technology Used

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Marketing Information Systems (MIS)

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framework for managing and structuring information gathered from internal and external sources

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Databases

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Single-source data provided by single marketing research firm

Marketing Decision Support Systems (MDSS)

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customized computer software that aids marketing managers in decision making

The Importance of Ethical Marketing Research

International Issues in Marketing Research

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Modification of data-gathering methods to account for regional differences

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Use of two-pronged approach to international marketing research

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Consider sociocultural, economic, political, legal, and technological forces

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After Reviewing This Chapter You Should Be Able to:

Define

marketing research

and explain its importance.

Describe the basic steps in conducting marketing research.

Discuss the fundamental methods of gathering data for marketing research.

Describe how tools such as databases, decision support systems, and the Internet facilitate marketing information systems and research.

Identify key ethical and international considerations in marketing research.

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Marketing research Research design Hypothesis Exploratory research Conclusive research Descriptive research Experimental research Reliability Validity Primary data Secondary data Population Sample Sampling Probability sampling Random sampling

Key Concepts

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Quota sampling Mail survey Telephone survey Online survey Personal interview survey In-home (door-to-door) interview Focus-group interview Customer advisory boards Telephone depth interview Shopping mall intercept interview Statistical interpretation Marketing information system (MIS) Database Single-source data Marketing decision support system (MDSS) Stratified sampling Nonprobability sampling

Objectives

Transcript Objectives

Chapter 4:

Marketing Research and Information Systems

Objectives

Marketing Research

The Benefits of Marketing Research

The Marketing Research Process

Locating and Defining Issues or Problems

Defining the Problem

Designing the Research Project

Types of Research

Differences Between Exploratory and Conclusive Research

Reliability and Validity

Collecting Data

Collecting Data

External Sources of Secondary Data

External Sources of Secondary Data

Methods of Collecting Primary Data

Probability Sampling

Nonprobability Sampling

How Types of Sampling Align

Survey Methods

Social Networking and Surveys

Comparing Four Basic Survey Methods

Forms of Personal Interviews

Benefits of a Personal Interview

Questionnaire Construction Question Types

Observation Methods

Interpreting Research Findings

Reporting Research Findings

Using Technology to Improve Marketing Information Gathering and Analysis

Technology and Information Gathering and Analysis

Types of Technology Used

The Importance of Ethical Marketing Research

International Issues in Marketing Research

After Reviewing This Chapter You Should Be Able to:

Key Concepts

Directory