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C HAPTER. MARKETING RESEARCH: FROM INFORMATION TO ACTION. Marketing Research. The process of planning, collecting, and analyzing data relevant to a marketing decision. Reasons to use Marketing Research. Improve the quality of decision making Trace problems
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CHAPTER MARKETING RESEARCH: FROM INFORMATION TO ACTION
Marketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision.
Reasons to use Marketing Research • Improve the quality of decision making • Trace problems • Focus on keeping existing customers • Understand the ever-changing marketplace
Marketing Research • Why Good Marketing Research is Difficult • Dishonesty • Intention mismatched to behavior • Newness has no comparative basis
The Marketing Research Process Define Problem Plan Design/ Primary Data Specify Sampling Procedure Collect Data Analyze Data Prepare/ Present Report Follow Up
Secondary Data Data previously collected for any purpose other than the one at hand. ALWAYS USE THIS FIRST
Sources of Secondary Data Internal Corporate Information Government Agencies Trade and Industry Associations Marketing Research Firms Commercial Publications News Media
Advantages of Secondary Data • Saves time and money if on target • Aids in determining direction for primary data collection • Pinpoints the kinds of people to approach • Serves as a basis of comparison for other data
Disadvantages of Secondary Data • May not answer the exact question of your research problem • Quality-Don’t know who gathered it and how the data was gotten • Accuracy of data may pose a problem-Don’t know age of the info and how biased the survey was
Primary Data • Information collected for the first time. • ALWAYS USE THIS LAST
Advantages of Primary Data • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained
Disadvantages of Primary Data • Expensive • Quality declines if interviews are lengthy • Reluctance to participate in lengthy interviews
Types of Primary Data Gathering • 1. Survey Research • 2. Observational Research
Survey Research The most popular technique for gathering primary data in which a researcher interacts with people to obtain facts, opinions, and attitudes.
Forms of Survey Research Internet surveys Mail Surveys Mall Intercept Interviews “Cool Hunters” Telephone Interviews Focus Groups- 7-10 people who participate in a group discussion led by a moderator
COMPARISON OF SURVEY TECHNIQUES Comparison of three kinds of surveys
Open-Ended Question An interview question that encourages an answer phrased in respondent’s own words. Closed-Ended Question An interview question that asks the respondent to make a selection from a limited list of responses. Scaled-Response Question A closed-ended question designed to measure the intensity of a respondent’s answer. Questionnaire Design
TYPICAL PROBLEMS IN WORDING QUESTIONS Typical problems in wording questions
Observation Research A research method that does not involve personal interaction between interviewer and subject.
People Watching People Mystery Shoppers One-Way Mirrors Types ofObservationResearch People Watching an Activity Audits Machines WatchingPeople Traffic Counters Passive People Meter Observation Research
Advantages Eliminates bias from the interviewing process Does not relay on the respondent's willingness to provide data Disadvantages Data collection costs are high Subjective, unsolicited info is limited No insight on the problem that you didn’t think to consider Observational Research
TYPES OF DATA FIGURE 8-2 Types of marketing information
Compiling and Delivering the Report • Data Mining- • Use of technology tosearch through data • records looking for useful information. • finds statistical links that highlight opportunities +
When Should Marketing Research be Conducted? • When value of research information exceeds the cost of generating the information • When time in which to decide is short-use your instincts here
Concept Check 1. What is the difference between secondary and primary data? A: Secondary data are facts and figures that have already been recorded before the project at hand, whereas primary data are facts and figures that are newly collected for the project.
Concept Check 2. What are some advantages and disadvantages of secondary data? A: Advantages include time savings, low cost, and a greater level of detail. Disadvantages are that the data may be out of date, the definitions or categories may not be right, and not being specific enough for the project.
Concept Check 1. What is the difference between observational and questionnaire data? A: Observational data are facts and figures obtained by watching, either mechanically or in person, how people actually behave. Questionnaire data are facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors.
Concept Check 2. Which survey provides the greatest flexibility for asking probing questions: mail, telephone, or personal interview? A: personal interview survey
Concept Check 1. What is data mining? A: Data mining is the extraction of hidden predictive information from large databases to find statistical links that suggest marketing actions.