marketing ch 8

marketing research
procedures that develop and analyze new information about a market; role of research specialist; process of planning, collecting, and analyzing data relevant to a marketing decision
steps in marketing research
1. define problem
2. analyze situation
3. gather problem specific data
4. interpret the data
5. solve the problem
marketing information system (MIS)
an organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions
role of marketing research
Descriptive: gathering and presenting factual statements
Diagnostic: explaining data
Predictive: address “what if” questions
changes in MIS
1. Makes information available and accessible
2. get more information easier and faster
3. intranet is easy to update
4. marketing managers must help develop MIS
intranet
a system for linking computers within a company; works like the internet but is usually limited to employees
data warehouse
a place where databases are stored so that they are available when needed
decisions support system (DSS)
computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions; helps change raw data into useful information
search engine
a computer program that helps a marketing manager find information that is needed
marketing dashboard
displays up-to-the-minute marketing data in an easy to read format
marketing model
statement of relationships among marketing variables
scientific method
a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them; don’t just assume that their intuition is correct; decision based on evidence
hypotheses
educated guesses about the relationships between things or about what will happen in the future
Defining the problem (step 1)
most difficult step; finding the right problem level, problems vs. symptoms, and setting research objectives
Analyzing the situation (step 2)
what information do we already have?, situation analysis
situation analysis
an informal study of what information is already available in the problem area; help define the problem and specify what additional information is needed
secondary data
information that has been collected or published already
primary data
information specifically collected to solve a current problem
Sources of secondary data
internal corporate information, government agencies, trade and industry associations, business periodicals, libraries, and news media
Advantages of secondary data
1. saves time and money if on target
2. aids in determining direction for primary data collection
3. pinpoints the kinds of people to approach
4. serves as a basis of comparison for other data
Disadvantages of secondary data
1. may not give adequate detailed information
2. may not be on target with the research problem
3. quality and accuracy of data may pose a problem
research proposal
a plan that specifies what information will be obtained and how; may include information about costs, what data will be collected, how it will be collected, who will analyze it and how, and how long the process will take
Qualitative research
seeks in-depth, open ended responses, not yes or no answers
focus group interview
interviewing 6 to 10 people in an informal group setting; interviewer wants to get group interaction
quantitative research
seeks structured responses that can be summarized in numbers, like percentages, averages, etc.
response rate
percentage of people contacted who complete the questionnaire
Mail and online surveys are….
common and convenient
Telephone surveys are….
fast and effective
Personal Interview surveys….
can be in-depth
consumer panels
a group of consumers who provide information on a continuing basis
experimental method
researchers compare the responses of two (or more) groups that are similar except on the characteristic being tested
Statistical packages
easy to use computer programs that analyze data
population
total group of interest
sample
part of the relevant population; how well a sample represents the total population affects the results
confidence intervals
range on either side of an estimate that is likely to contain the true value for the whole population
validity
concerns the extent to which data measure what they are intended to measure
Marketing decision support systems
an interactive, flexible computerized information system that enables managers to obtain and manipulate info. as they are making decisions; interactive, flexible, discovery oriented, and accessible
Database marketing
the creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns
advantages to primary data
1. answers a specific research question
2. data are current
3. source of data is known
4. secrecy can be maintained
disadvantages of primary data
Primary data can be very expensive; disadvantages are usually offset by the advantages of primary data
Survey research
the MOST popular technique for gathering primary data, in which a research interacts with people to obtain facts, opinion and attitudes
Two basic methods to obtain primary data
1. Observing
2. Questioning
Observation research
A research method that relies on four types of observation:
1. people watching people
2. people watching an activity
3. machines watching people
4. machines watching an activity
cross-tabulation
a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions
Preparing and Presenting the Report
1. Concise statement of the research objectives
2. explanation of research design
3. summary of major findings
4. conclusion with recommendations