The Marketing Research Process
is an interrelated sequence of steps that make up a marketing research project.
How do you justify the need for marketing research?
Potential usefulness of the results,Management attitudes towards marketing research, Resources available for implementation, and Cost Vs. Benefits
What is the most critical step in the research objective process?
Defining the research objective
Effective communication is a must when trying to avoid mistakes in a problem definition because
effective dialogue is critical for properly diagnosing any situation calling for the use of marketing research and the chances that a wrong or nonexistent problem will be researched are greatly increased when there is a lack of commuicaiton
What are the steps to identifying Data Needs?
Scrutinize the research process and list the types of data that will fulfill this purpose
What are the two possible Data Sources?
Primary and Secondary
Secondary Data sources are
are data that have already been collected by and are readily available from other sources
Primary Data sources are
are data collected for specific research and obtained directly from consumer to fulfill a specific purpose
What are examples of appropriate research design?
Exploratory and Conclusive
What is exploratory research?
It is used to gain initial insights and may pave the way for further research
What is conclusive research?
It is used to verify insights and select appropriate course action. Can be either descriptive or experimental (cause and effect)
A Research Proposal
Serves as the blueprint for the execution of the product and is a document that briefly describes the purpose and scope, specific objectives, sample design, data collection procedures, data analysis plan, timetable, and estimated cost for the contemplated project.
What are some key facts when it comes to designing the research instrument or form?
Relevant when you are using primary data, Interviews, Observation, the type of form used can seriously effect the nature and/or quality of the data
In a Probability Sample:
each element in the population has a known, non- zero chance of inclusion.
In a Nonprobability Sample:
sampling is a subjective procedure in which the probability of selection for each population unit is unknown beforehand
What are some ways you can collect data?
You can do interviewer-administered survey and self-administered survey
Before data analysis there are two processes:
Editing and Coding
What is Editing?
Ensuring that the data is complete and correctly filled out
What is Coding?
Transforming into a suitable form for analysis
What are some important facts and analyzing data and interpreting results?
The types of data analysis used depend on the nature of the data. The nature of the data is determined by the type of data collection method used as well as other factors
What is the last step in the marketing research process?
Present Research findings to decision makers
What are the factors to consider in deciding to use external suppliers?
Credibility, Competence, Cost, and Capacity