marketing research: getting information for marketing decision making to accompany basic marketing,...
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Marketing Research:Getting Information for Marketing Decision Making
Marketing Research:Getting Information for Marketing Decision Making
To Accompany Basic Marketing, 14th Editionby William D. Perreault, Jr. and E. Jerome McCarthyTo Accompany Basic Marketing, 14th Editionby William D. Perreault, Jr. and E. Jerome McCarthy
Your host:
David J. UrbanProfessor of Marketing
VirginiaCommonwealthUniversity
Your host:
David J. UrbanProfessor of Marketing
VirginiaCommonwealthUniversity
Key Topics in Marketing ResearchKey Topics in Marketing Research
What is it? What is it?
Why is it important?Why is it important?
How is it done?How is it done?
MarketingResearch
MarketingResearch
Marketing Research DefinedMarketing Research Defined
Marketing Research consists of the proceduresto develop and analyze new information
to help marketing managers make decisions.
Marketing research gets the "facts" notalready available in the marketing
information system.
Who Does “Custom” Marketing ResearchWho Does “Custom” Marketing Research
In-house research departmentsIn-house research departments
Custom research firmsCustom research firms
Consulting firmsConsulting firms
MarketingResearchSuppliers
MarketingResearchSuppliers
Advertising agenciesAdvertising agencies
Syndicated servicesSyndicated services
Colleges and universitiesColleges and universities
Internationalization of Marketing ResearchInternationalization of Marketing Research
The Importance of Marketing ResearchThe Importance of Marketing Research
Reason #1: Not getting the right information is the fastest path to marketing disaster.
• Base marketing strategies on valid evidence and analysis
Don’t blow it!
The Importance of Marketing ResearchThe Importance of Marketing Research
Reason #2: research is often done poorly … and with serious consequences
• Managers may not know much about research
• Quality of suppliers is highly variable
• Research is often done on a crisis basis
The Importance of Marketing ResearchThe Importance of Marketing Research
Reason #3: big changes are underway because of technology
• Instant feedback and rapid change
• “Real time” data
• Lack of understanding about how to use the tools
• Changes do not happen all at once
Ethical Issues in Marketing ResearchEthical Issues in Marketing Research
Withheld informationWithheld information
Acceptability of FindingsAcceptability of Findings
Research vs. SellingResearch vs. Selling
EthicalIssues
EthicalIssues
“Lying” with Statistics“Lying” with Statistics
Marketing Research Process – Step 1Marketing Research Process – Step 1
Definingthe
Problem
Definingthe
Problem
EarlyIdentification
ofSolution
EarlyIdentification
ofSolution
• Most important and difficult part of the process
• What do we need to know?
• What pieces of information will give us what we need?
• Manager and researcher must work together
Researcher – Manager CollaborationResearcher – Manager Collaboration
That overpaid yuppie is clueless--she doesn’t even know how a chi-square is computed
That marketing researchgeek doesn’t understandmy business--she doesn’t even know my competitors!
I stats
Marketing Research Process – Step 2Marketing Research Process – Step 2
Definingthe
Problem
Definingthe
Problem
Analyzingthe
Situation
Analyzingthe
Situation
Feedback to Previous Steps
EarlyIdentification
ofSolution
EarlyIdentification
ofSolution
• What information is already available
• Expert interviews and case studies
• Secondary data
An Example of Secondary DataAn Example of Secondary Data
Marketing Research Process – Step 3Marketing Research Process – Step 3
Definingthe
Problem
Definingthe
Problem
Analyzingthe
Situation
Analyzingthe
Situation
GettingProblem-Specific
Data
GettingProblem-Specific
Data
EarlyIdentification
ofSolution
EarlyIdentification
ofSolution
Feedback to Previous Steps
Primary Data -- QualitativePrimary Data -- Qualitative
Primary Data - QuantitativePrimary Data - Quantitative
QuestioningQuestioning
Mail, telephone, face-to-face, and internet surveys
Primary Data - QuantitativePrimary Data - Quantitative
QuestioningQuestioning
ObservationObservation
Mail, telephone, face-to-face, and internet surveys
Human or machine observers
Primary Data - QuantitativePrimary Data - Quantitative
QuestioningQuestioning
ObservationObservation
ExperimentsExperiments
Mail, telephone, face-to-face, and internet surveys
Human or machine observers
Cause and effect relationships
The Research ProposalThe Research Proposal
A good research proposal keeps the process on track
Whatdata will becollected
Whatdata will becollected
Quality controlstandards that will
be used
Quality controlstandards that will
be used
How itwill be
collected
How itwill be
collected
From whomFrom whom
What itwill cost
What itwill cost
How longit will take
How longit will take
Who will
analyze it
Who will
analyze it
ResearchProposal
ResearchProposal
Marketing Research Process – Step 4Marketing Research Process – Step 4
Definingthe
Problem
Definingthe
Problem
Analyzingthe
Situation
Analyzingthe
Situation
GettingProblem-Specific
Data
GettingProblem-Specific
Data
Inter-preting
Data
Inter-preting
Data
EarlyIdentification
ofSolution
EarlyIdentification
ofSolution
Feedback to Previous Steps
Data InterpretationData Interpretation
Is the sample representative?Is the sample representative?
Is the data reliable?Is the data reliable?
Is the data valid?Is the data valid?
KeyIssues
KeyIssues
Are the statistical techniques appropriate?Are the statistical techniques appropriate?
Data InterpretationData Interpretation
Marketing Research Process – Step 5Marketing Research Process – Step 5
Definingthe
Problem
Definingthe
Problem
Analyzingthe
Situation
Analyzingthe
Situation
GettingProblem-Specific
Data
GettingProblem-Specific
Data
Inter-preting
Data
Inter-preting
Data
Solvingthe
Problem
Solvingthe
Problem
EarlyIdentification
ofSolution
EarlyIdentification
ofSolution
Feedback to Previous Steps
Information Enters a DatabaseInformation Enters a Database
MarketResearchStudies
MarketResearchStudies
InternalData
Sources
InternalData
Sources
ExternalData
Sources
ExternalData
Sources
DatabasesDatabases
Inputs
InformationSources
Questionsand Answers
DecisionMaker Results
Support Systems Interact with the DatabaseSupport Systems Interact with the Database
MarketResearchStudies
MarketResearchStudies
InternalData
Sources
InternalData
Sources
ExternalData
Sources
ExternalData
Sources
DatabasesDatabases
DecisionSupportSystem(DSS)
DecisionSupportSystem(DSS)
MarketingModels
MarketingModels
InformationProcessingSpecialists
InformationProcessingSpecialists
Inputs
?
AnswersN
ew In
form
atio
n
InformationSources
Questionsand Answers
DecisionMaker Results
Decisions and OutcomesDecisions and Outcomes
MarketResearchStudies
MarketResearchStudies
InternalData
Sources
InternalData
Sources
ExternalData
Sources
ExternalData
Sources
DatabasesDatabases
DecisionSupportSystem(DSS)
DecisionSupportSystem(DSS)
MarketingManager
Decisions
MarketingManager
DecisionsOutcomesOutcomes
MarketingModels
MarketingModels
InformationProcessingSpecialists
InformationProcessingSpecialists
Inputs
?
AnswersN
ew In
form
atio
n
Feedback
InformationSources
Questionsand Answers
DecisionMaker Results
Marketing Strategy Planning ProcessMarketing Strategy Planning Process
CustomersNeeds and other
SegmentingDimensions
CompanyMission, Objectives,
& Resources
CompetitorsCurrent &
Prospective
S.W.O.T.
External Market EnvironmentExternal Market EnvironmentTechnology Political & Legal Social & Cultural EconomicTechnology Political & Legal Social & Cultural Economic
Targeting &Segmentation
Positioning &DifferentiationPositioning &Differentiation
Narrowing down to focused strategy with quantitative and qualitative screening criteria