12-1 mm2711 introduction to marketing marketing research week 12
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MM2711Introduction to Marketing
Marketing Research
Week 12
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LEARNING OBJECTIVES
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Learning Objectives
What are the necessary steps to conduct marketing research?
What are primary and secondary data, qualitative and quantitative data, and when should each be used?
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LEARNING OBJECTIVES
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DiagnosticDiagnostic
PredictivePredictive
DescriptiveDescriptive
Gathering and presenting factual statements
Explaining data
Attempting to estimate the results of a planned marketing decision
Roles of Marketing Research
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Marketing Research
Data are raw numbers or other factual information that, on their own, have limited value to marketers.
Marketing research consists of a set of techniques and principles for systematically collecting, recoding, analyzing and interpreting data that can aid decision makers involved in marketing goods, services or ideas.
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Using Marketing Information Systems to Create Better Value
A marketing information system (MkIS) is a set of procedures and methods that apply to the regular, planned collection, analysis, and presentation of information that then may be used in marketing decisions.
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The Marketing Research Process
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Step 1: Defining the Objectives and Research Needs
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Step 2: Designing the Research Project
Secondary dataSecondary data Primary dataPrimary data
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Step 3: Data Collection Process
Exploratory research attempts to begin to understand the phenomenon of interest and provides initial information when the problem lacks any clear definition.
Conclusive research provides the information needed to confirm preliminary insights and which managers can use to pursue appropriate courses of action.
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Exploratory Research Methods
Example of observation: When a museum wanted to know which exhibits people visited most often, it conducted a unique study to determine the wear patterns in the floor. This “human trace” evidence allowed the museum to study flow patterns.
Interviews provide extremely valuable information, because researchers can probe respondents to elicit more information about interesting topics.
Focus groups similarly provide a snapshot of customers’ opinions and allow some follow-up but also are relatively fast and inexpensive to conduct.
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Conclusive Research Methods
Descriptive Experimental
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Survey Research
A survey is a systematic means of collecting information from people that generally uses a questionnaire.
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Web Surveying
Response rates are relatively high
Respondents may lie less
It is inexpensive Results are
processed and received quickly
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Experimental Research
Using an experiment, McDonald’s would “test” the price of a new menu item to determine which is the most profitable.
Experimental research is a type of quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on another variable.
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Scanner Research
Information Resources, Inc.
AC Nielsen
What if I reduce my price by
10%?
Scanner research is a type of quantitative research that uses data obtained from scanner readings of UPC codes at check-out counters.
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Panel Research
Group of consumers Survey or sales receipts
What are they buying
or not buying?
Panel research is a type of quantitative research that involves collecting information from a group of consumers (the panel) over time.
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Converting data into information to explain, predict and/or evaluate a
particular situation.
Converting data into information to explain, predict and/or evaluate a
particular situation.
Step 4: Analyzing Data
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Step 5: Presenting Results
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Learning Objectives
What are the necessary steps to conduct marketing research?
What are primary and secondary data, qualitative and quantitative data, and when should each be used?
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Primary Data
Information collected for the first time.
Can be used for solving the particular problem under investigation.
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Advantages of Primary Data
Answers a specific research question
Data are current
Source of data is known
Secrecy can be maintained
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Disadvantages of Primary Data
Expensive
Quality declines if interviews are lengthy
Reluctance to participate in lengthy interviews
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Secondary Data
Data previously collected for any purpose other
than the one at hand.
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Sources of Secondary Data
Marketing Research Firms
Trade and Industry Associations
National Research Bureaus
Professional Associations
Commercial Publications
Internal Information
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Syndicated Data
Syndicated data are data available for a fee from commercial research firms such as Information Resources Inc. (IRI), National Purchase Diary Panel, and ACNielsen.
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Advantages of Secondary Data
Saves time and money if on target
Aids in determining direction for primary data collection
Pinpoints the kinds of people to approach
Serves as a basis of comparison for other data
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Disadvantages of Secondary Data
May not be on target with the research problem
Quality and accuracy of data may pose a problem
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Qualitative and Quantitative Data
Qualitative data Not numerical Labels or categories
Quantitative data Numerical Be processed statistically (e.g.
calculating mean, max, min, etc)
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Qualitative data examples
Automobile make (e.g. Ford, Honda)Questionnaire response (e.g.
disagree, neutral, agree)Tutorial section (e.g. TUT001,
TUT002, …)Colors (e.g. red, yellow, blue, …)
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Quantitative data examples
Voltage Height Weight Exam score Number of students arriving late for
class Number of days to complete a task