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Marketing Research: Gathering, Analyzing, and Using Information

Marketing Research: Gathering, Analyzing, and Using Information. Chapter Objectives. Explain the role of the marketing information system and the marketing decision support system in marketing decision making List and explain the steps in the marketing research process

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Marketing Research: Gathering, Analyzing, and Using Information

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  1. Marketing Research: Gathering, Analyzing, and Using Information

  2. Chapter Objectives • Explain the role of the marketing information system and the marketing decision support system in marketing decision making • List and explain the steps in the marketing research process • Appreciate the differences among exploratory, descriptive, and casual research • Describe the different types of data-collection methods and types of consumer samples that research use • Understand the impact of the growing use of online research

  3. Knowledge is Power • Accurate, up to date, relevant information is the fuel that runs the marketing engine

  4. The Marketing Information System • Determines what information marketing managers need, then gathers, sorts, analyzes, stores, and distributes information to system users

  5. Internal Company Data • Information from within the company to produce reports on the results of sales and marketing activities (e.g. Sales, what consumers are buying what products…etc) • Intranet: internal corporate communications network that links company departments, employees, and databases.

  6. HSX.COM Marketing Intelligence • Monitoring everyday sources and using “mystery shoppers” • Futurists specialize in predicting consumer trends (using different scenarios to predict the future)

  7. GfK ARBOR LLC • MEDIAMARK RESEARCH Marketing Research • Collecting, analyzing, and interpreting data about customers, competitors, and the business environment to improve marketing effectiveness • Syndicated research (research by firms that collect data on a regular basis and sell the reports to multiple firms) • Custom research (conducted for a single firm to provide specific information)

  8. Acquired Databases • From other companies • Government databases • Misuse of databases can be problematic and has led to do-not-call lists and antispam laws

  9. Marketing Decision Support Systems • MDSS: data plus analysis and interactive software allow marketing managers to access MIS data and conduct analyses

  10. Searching for Gold: Data Mining • Analysts sift (filter) through data to identify unique patterns of behavior among different customer groups • Using super computers to process terabytes size of data, and also “data warehouse” to investigate patterns of preferences of consumers • Very complex and costly way, over $10m.

  11. What Marketers Can Do with Data Mining • Customer acquisition • Customer retention and loyalty • Customer abandonment • Market basket analysis

  12. Steps in the Marketing Research Process • Step 1: Define the research problem • Specifying research objectives (research questions) • Identifying consumer population of interest (characteristics of consumers) • Placing the problem in an environmental context (what internal/external environment might be influenced) • Step 2: Determine the Research Design • Specifying exactly what information marketers will collect and what type of study they will do

  13. Figure 4.5:Marketing Research Design

  14. Secondary Versus Primary Research • Secondary data have been collected for some purposes other than the problem at hand • Primary data is information collected directly from respondents to specifically address the question at hand

  15. MARKETINGTOOLS.COM • CENSUS.GOV • DIALOG.COM • LEXIS-NEXIS Secondary Research Web Sites

  16. Exploratory (Qualitative) Research • Research techniques that generate insights for future, more rigorous studies • Researchers conduct one-on-one discussions with consumers • Focus group: a product-oriented discussion among a small group of consumers

  17. Exploratory (Qualitative) Research (cont’d) • Projective techniques: participants respond to some object • Case study: comprehensive examination of a particular firm • Ethnography: Marketers visit homes or participate in consumer activities to learn how products are used

  18. Descriptive (Quantitative) Research • Probes systematically into the problem • Bases conclusions on large numbers of observations • Results typically expressed in quantitative terms (averages, percentages, other stats) • Cross-sectional design (one time) • Longitudinal design (track over time)

  19. Causal Research • Cause-and-effect relationships: a change in one thing causes a change in something else • Independent (cause) vs. dependent (change in outcome) variables • Experiments: test predicted relationships among variables in a controlled environment • Field studies

  20. Steps in the Marketing Research Process (cont’d) Step 3: Choose the Method for Collecting Primary Data • Survey Methods: interview respondents • Questionnaires: loosely, moderately, or completely structured

  21. Questionnaires • Mail questionnaires • Telephone interviews • Face-to-face interviews • Online questionnaires

  22. Discussion • Are you willing to reveal personal information to marketing researchers? • How much are you willing to tell? • Where would you draw the line?

  23. Observational Methods • Observation: data collection where the researcher records consumers’ behaviors, often without their knowledge • Personal observation • Mechanical observation • Unobtrusive measures

  24. Data Quality:Garbage In, Garbage Out • How much faith should marketing managers place in research? • Validity • Reliability • Representativeness

  25. Discussion • Do you think marketers should be allowed to conduct market research with young children? Why or why not?

  26. Online Research • Information gathered via consumer surfing and Web site/email/chat room questionnaires/focus groups • Cookies allow a Web sponsor to track a surfer’s moves

  27. ITRACKS.COM • THERE.COM Online Research Applications • New product development • Estimating market response • Exploratory research (online focus groups) • IM (Instant Messaging)

  28. Advantages of Online Data Collection • The same amount of data in a fraction of the time • Convenience of survey completion • Elimination of interviewer bias and data entry errors

  29. Disadvantages of Online Data Collection • Non-representativeness of respondents • Limited computer access for poor and elderly • Self-selection bias (people who like to take part in online studies) • Hackers and competitors influencing/intercepting results

  30. Step 4: Design the Sample • Probability sample • Each member of the population has some known chance of being included • Sample is representative of population, and inferences about population are justified • - Simple random sampling • - Systematic sampling • - Stratified sampling

  31. Step 4: Design the Sample (cont’d) • Nonprobability sample • Personal judgment used in selecting respondents • Some members of population have no chance of being included • No way to ensure that sample is representative of population • Convenience sampling • Quota sampling

  32. Discussion • Why wouldn’t you select all the individuals or elements of a population to be in your study?

  33. Step 5: Collect the Data • Challenges to gathering data in foreign countries • Differences in sophistication of research operations • Infrastructure/transportation challenges • Lack of phones • Low literacy rates • Local customs and cultural differences • Language translation difficulties

  34. Step 6: Analyze andInterpret the Data • Data need analysis for them to have meaning • Tabulation: arranging data in a table or other summary form to get a broad picture of overall responses • Cross-tabulation: examining the data by subgroups to see how results vary between categories

  35. Table 4.4: Data Tabulation and Cross-Tabulation Tables

  36. Step 7: Prepare the Research Report • Executive summary • Description of research methodology • Discussion of results including tabulations, cross-tabulations • Limitations of study • Conclusions and recommendations

  37. Discussion • What is your overall attitude toward marketing research? • Do you think it is a beneficial activity from a consumer’s perspective? • Or do you think it merely gives marketers new insights on how to convince consumers to buy something they really don’t want or need?

  38. Marketing Plan Exercise • Select a company that makes a product you use. For the firm you selected: • Define one specific problem it could address through marketing research • What type of research design do you recommend for addressing that problem, and why? • What is the most appropriate way to collect the data? Justify your choice • How will you ensure high validity, reliability, and representativeness of the data? • Design an appropriate sampling plan

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