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Slide 8-1

Slide 8-1. C HAPTER. MARKETING RESEARCH: FROM INFORMATION TO ACTION. Slide 8-2. AFTER READING THIS CHAPTER YOU SHOULD BE ABLE TO:. Identify the reason for doing marketing research and describe the five-step marketing research approach leading to marketing actions.

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Slide 8-1

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  1. Slide 8-1

  2. CHAPTER MARKETING RESEARCH: FROM INFORMATION TO ACTION Slide 8-2

  3. AFTER READING THIS CHAPTERYOU SHOULD BE ABLE TO: • Identify the reason for doing marketing research and describe the five-step marketing research approach leading to marketing actions. • Describe how secondary and primary data are used in marketing, including the uses of questionnaires, observations, experiments, and panels. Slide 8-3

  4. AFTER READING THIS CHAPTERYOU SHOULD BE ABLE TO: • Explain how information technology and data mining link massive amounts of marketing information to meaningful marketing actions. Slide 8-4

  5. FIGURE 8-1Marketing research questions asked in test screenings of movies, and how they are used Slide 8-7

  6. THE ROLE OFMARKETING RESEARCH • What is Marketing Research? • Why Good Marketing Research is Difficult • Five-Step Marketing Research Approach to Make Better Decisions • Decision • Decision Making Slide 8-8

  7. FIGURE 8-2Five-step marketing research approach leading to better marketing actions Slide 8-10

  8. Concept Check 1. What is marketing research? A: Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions. Slide 8-11

  9. Concept Check 2. What are the five steps marketing research uses to help lead to marketing actions? A: The 5 steps are: (1) define the problem; (2) develop a research plan; (3) collect relevant data; (4) develop findings; and (5) take marketing actions. Slide 8-12

  10. STEP 1: DEFINE THE PROBLEM • Set the Research Objectives • Objectives • Three Kinds of Research • Exploratory Research • Descriptive Research • Causal Research • Identify Possible Marketing Actions • Measures of Success Slide 8-13

  11. STEP 2: DEVELOP THERESEARCH PLAN • Determine How to Collect Data • Specify Constraints • Identify Data Needed for Marketing Actions • Concepts • Methods • New-Product Concept • Sampling • Probability Sampling • Nonprobability Sampling • Statistical Inference Slide 8-16

  12. Concept Check 1. What are the three kinds of marketing research? A: (1) exploratory research, which providesideas about a relatively vague problem;(2) descriptive research, which tries to find the frequency that something occurs or the extent of a relationship between two factors; and(3) causal research, which tries to determine the extent to which the change in one factor changes another one. Slide 8-17

  13. Concept Check 2. What does constraints mean? A: Constraints in a decision are the restrictions placed on potential solutions to a problem, such as time and money. Slide 8-18

  14. Concept Check 3. What is the difference between concepts and methods? A: Concepts are ideas about productsor services, whereas methods are the approaches that can be used to collect data. Slide 8-19

  15. STEP 3: COLLECTRELEVANT INFORMATION • Data • Secondary Data • Primary Data Slide 8-20

  16. FIGURE 8-3 Types of marketing information Slide 8-21

  17. STEP 3: COLLECTRELEVANT INFORMATION • Secondary Data • Internal Secondary Data • External Secondary Data • Census Bureau • Syndicated • Periodicals/Journals • Data Services • Advantages and Disadvantages of Secondary Data Slide 8-22

  18. WEB LINK Online Databases and Internet Resources Useful for Marketers LexisNexis Wall Street Journal ProQuest STAT-USA Bloomberg FirstGov Investor’s Daily Google Slide 8-23

  19. 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. Slide 8-24

  20. 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 include data may be out of date, the definitions or categories may not be right, and not being specific enough for the project. Slide 8-25

  21. STEP 3: COLLECTRELEVANT INFORMATION • Primary Data • Observational Data • Meter/Diary • Mystery Shopper • Ethnographic Research Slide 8-26

  22. FIGURE 8-4 Nielsen ratings of the top 10 national television programs fromSeptember 27, 2004 through October 3, 2004 Slide 8-28

  23. FIGURE 8-5 Nielsen//NetRatings of the top 10 Internet websites for September 2004 Slide 8-29

  24. STEP 3: COLLECTRELEVANT INFORMATION • Primary Data • Questionnaire Data • Individual Interviews • Focus Groups • “Cool Hunters” Slide 8-31

  25. STEP 3: COLLECTRELEVANT INFORMATION • Primary Data • Questionnaire Data • Types of Surveys • Personal Interview • Mail • Telephone • E-mail/Fax/Internet • Mall Intercept Interview Slide 8-33

  26. FIGURE 8-AComparison of three kinds of surveys Slide 8-34

  27. FIGURE 8-6 Typical problems in wording questions Slide 8-35

  28. STEP 3: COLLECTRELEVANT INFORMATION • Primary Data • Questionnaire Data • Question Formats • Open-Ended • Closed-Ended/Fixed Alternative • Dichotomous • Semantic Differential Scale • Likert Scale Slide 8-36

  29. FIGURE 8-7ASample questions from Wendy’s survey Slide 8-38

  30. FIGURE 8-7BSample questions from Wendy’s survey Slide 8-39

  31. STEP 3: COLLECTRELEVANT INFORMATION • Primary Data • Panels and Experiments • Panel • Experiment • Drivers • Test Markets • Advantages and Disadvantages of Primary Data Slide 8-40

  32. 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. Slide 8-41

  33. Concept Check 2. Which survey provides the greatest flexibility for asking probing questions: mail, telephone, or personal interview? A: personal interview survey Slide 8-42

  34. Concept Check 3. What is the difference between a panel and an experiment? A:A panel is a sample of consumers or stores from which researchers take a series of measurements.An experiment involves changing a variable in a customer purchase and seeing what happens. Slide 8-43

  35. STEP 3: COLLECTRELEVANT INFORMATION • Using Information Technology to Trigger Marketing Actions • The Marketing Manager’s View of Sales Drivers • Data vs. Information • Information Technology Slide 8-44

  36. FIGURE 8-8Product and brand drivers: factors that influence sales Slide 8-45

  37. STEP 3: COLLECTRELEVANT INFORMATION • Using Information Technology to Trigger Marketing Actions • Key Elements of an Information System • Data Warehouse • Sensitivity Analysis • Data Mining: A New Approach to Searching the Data Ocean Slide 8-46

  38. FIGURE 8-9 How marketing researchers and managers use information technology to turn information into action Slide 8-47

  39. STEP 4: DEVELOP FINDINGS • Set the Research Objectives • Analyze the Data • Present the Findings Slide 8-49

  40. FIGURE 8-10 Presenting findings to Tony’s marketing manager that lead to recommendations and actions Slide 8-51

  41. FIGURE 8-10A Presenting findings to Tony’s marketing manager Slide 8-52

  42. FIGURE 8-10B Presenting findings to Tony’s marketing manager Slide 8-53

  43. FIGURE 8-10C Presenting findings to Tony’s marketing manager Slide 8-54

  44. FIGURE 8-10D Presenting findings to Tony’s marketing manager Slide 8-55

  45. STEP 5: TAKE MARKETING ACTIONS • Make Action Recommendations • Implement the Action Recommendations • Evaluate the Results • Evaluating the Decision Itself • Evaluating the Decision Process Used Slide 8-56

  46. Concept Check 1. What does a marketing manager mean when she talks about a sales driver? A: “Drivers” are the factors that influence buying decisions of a household or organization and, hence, sales. Slide 8-57

  47. Concept Check 2. How does data mining differ from traditional marketing research? A: Marketing research identifies possible drivers and then collects data. In contrast, data mining extracts hidden predictive information already collected and stored in databases. Slide 8-58

  48. Concept Check 3. In the marketing research for Tony’s Pizza, what is an example of (a) a finding and (b) a marketing action? A: (a) Figure 8-10A shows a finding that depicts annual sales from 2001 to 2004. (b) Figure 8-10D shows a finding(the decline in pizza sales) that leads toa recommendation to develop an ad targeting children 6 to 12 years old. Slide 8-59

  49. WHAT’S NEW INMARKETING RESEARCH? GOING ONLINE Slide 8-60

  50. Going Online • 1.Click on the “News” link on WorldOpinion’s home page to read about the current news and issues facing the market research industry. Slide 8-61

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