Ch 4

Taking an ethical and aboveboard approach to conducting market research that does no harm to the participant in the process of conducting the research.
MARKET RESEARCH ETHICS
A process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to system users.
MARKETING INFORMATION SYSTEM (MIS)
Raw, unorganized facts that need to be processed.
DATA
what does successful market planing depend upon
Informed decision making.
market planning steps
develop marketing objective
select target market
position products
developing 4 ps strategies
what is a market intelligence system ?
A method by which marketers get information about everyday happenings in the marketing environment
Which of the following is an example of primary research?
Customer interviews
Exploratory, descriptive, and causal research
primary data
In the market research process, which of the following steps occurs immediately after choosing the method to collect primary data?
design the sample
In the market research process, designing the sample is the step that occurs immediately before the step of __________.
analyzing and interpreting the data
Gathered via monitoring of everyday data sources, observations, discussions with sales representatives
Marketing Intelligence
data collected by the firm to address a specific question
Primary data
Goal of the Marketing Insights function
transform data into information
Role of Customer Insights Function in a Marketing Organization
Goal of the Marketing Insights function -transform data into information
step 1 Market Research Process
Define the Research Problem
step 2 Market Research Process
Determine the Research Design
what happens after you Determine the Research Design
Once the problem is isolated, the next step is to determine a ‘plan of attack’
is particularly useful when marketers are trying to identify new strategies, new product opportunities, or when the need to understand in detail how consumers feel about a product or service
Exploratory Research
Exploratory research is useful for
Gaining better understanding of problem
Identifying new opportunities
exploratory reach is often qualitative in nature
Focus groups
Case studies
Ethnographies
Systematically investigate marketing problem
Results expressed in quantitative terms
Cross-sectional vs. longitudinal
Descriptive Research
Attempts to identify cause-and-effect
Independent and dependent variables
Causal research
Step 4: Market Research Process
Design the Sample
Probability vs. non-probability samples

Types of nonprobability sampling

Predictive technology
uses shopping patterns of large numbers of people to determine which products are likely to be purchased if others are
Quality of market research insights based on
“garbage in, garbage out!”
Step 5: Market Research Process
Collect the Data
Challenges to gathering data in foreign countries
Cultural issues
Language issues
The quality of research conclusions is only as good as
the data used to generate them
a company can obtain by buying customer info
acquired data