Marketing_ The Marketing Research Process

5 steps of the marketing research process
1. Defining the problem
2. Obtaining data
3. Analyzing the data
4. Recommending solutions to the problem
5. Applying the results
Step 1: Defining the Problem
-Identification of problem and realization of information necessary to solve it.
-Are customers satisfied?
-Are prices competitive?
-Are products efficiently distributed?
-Are common activities effective?
Step 2: Obtaining Data
-Primary Data
-Secondary Data
Primary Data
Obtained for the first time and used specifically for the particular problem or issue under study
Secondary Data
Collected for other purposes than current study. Less expensive to collect. Often looked at before any primary data is collected.
Step 3: Analyzing Data
-Process of compiling, analyzing, and interpreting the result of primary and secondary data collection
Step 4: Recommending Solutions to the Problem
-Successful research product info that helps decision making and problem solving
-Recommendations must be clear and well supported by research data
Step 5 Applying the Results
-Reports used in decision making about marketing strategies
-May be inconclusive or used to implement a new plan
-New strategies must be MONITORED TO ASSESS EFFECTIVENESS –> ongoing process of problem solving
Primary Data Collection
-Experiment method
-Survey Method
-Observation Method
Experiment Method
A research technique in which a researcher observes the results of changing one or more variable while keeping other variables constant. (Manipulative vs. controlled)
Survey Method
Info is gathered through surveys or questionnaires give to a sample (target population)
Observation Method
Point-of-sale: combines natural observation with personal interviews to buying behavior
Traffic count: a count of people or cars that passes a store
The Marketing Survey (process)
-Constructing the Questionnaire
-Writing Questions
-Forced-Choice Questions
-Formatting
-Administering the Questionnaire
Constructing the Questionnaire
Validity – Questions asked measure what they are intended to measure
Reliability – Results are nearly identical when repeated
Writing Questions
Open-ended questions – Ask respondents to construct their own response
Fore-choice questions – gives respondents options to choose from
Guidelines for Writing Questions
-Questions should be clear and brief
-Use a similar format for each question
-Do not ask leading questions
-Avoid bias
-Don’t make respondents guess
Formatting
-Appearance must be appealing to respondents
-Use dark ink
-Shade some sections or use arrows to direct readers through
-Section headings and numbers
-Directions should be clear
-Demographic info- grouped at end
Administering the Questionnaire
-If sent through the mail, give headline
-Send first class, and include a hand-signed cover letter
-If not mailed, a brief description of survey should be included on it
-To conduct an interview: Dress professionally, carry a clipboard, and approach people politely.