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Chapter Three

Chapter Three. The Marketing Research Process. Why do we have an organized MR process?. Relevant (does it address the problem at hand?) meaningful (will the results support the decision?) and Appropriate (is the research plan appropriate to the data collected?). Market Research Process.

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Chapter Three

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  1. Chapter Three The Marketing Research Process Essentials of Marketing Research Kumar, Aaker, Day

  2. Why do we have an organized MR process? • Relevant (does it address the problem at hand?) • meaningful (will the results support the decision?) and • Appropriate (is the research plan appropriate to the data collected?) Essentials of Marketing Research Kumar, Aaker, Day

  3. Market Research Process • Agree on Research Purpose • Establish Research Objectives • Estimate Value of Information • Design the Research • Collect the Data • Prepare and Analyze Data • Report Research Results Essentials of Marketing Research Kumar, Aaker, Day

  4. The Research Purpose • Research purpose is a shared understanding between manager and researcher about • Problem or opportunity to be studied • Evaluation of decision alternatives • Research users Essentials of Marketing Research Kumar, Aaker, Day

  5. Case: Promoting a new health club in town • Problem or opportunity be studied? • Consumers largely ignore advertising • Intense pre-existing competition • Competitor’s facilities outdated • Increasing populations of the young, urban professionals Essentials of Marketing Research Kumar, Aaker, Day

  6. The Research Purpose • Problem or opportunity analysis • Motivations of research • Exploratory research to identify problems or opportunities • Goal is to move from exploratory to confirmatory research (decision-focused) Essentials of Marketing Research Kumar, Aaker, Day

  7. The Marketing Research Process: Research Purpose • Evaluation of decision alternatives • If there are no decision alternatives, no research is necessary • How will you evaluate the decision alternatives? • Time available and importance of decision Essentials of Marketing Research Kumar, Aaker, Day

  8. Case: What decision alternatives may be important here? • Should we advertise in mass media or should we promote through direct mail? • What should we position ourselves as? (prior exploratory research required) • Should we promote our facilities or our location? • Should we promote our facilities or the ‘club’ atmosphere? Essentials of Marketing Research Kumar, Aaker, Day

  9. Research Purpose • Research users • Who will evaluate the research? • External bodies may require high-quality research designs Essentials of Marketing Research Kumar, Aaker, Day

  10. Case: Who are the research users here? • The health club management Essentials of Marketing Research Kumar, Aaker, Day

  11. Market Research Process • Agree on Research Purpose • Establish Research Objectives Essentials of Marketing Research Kumar, Aaker, Day

  12. Research Objective • A statement, in as precise terminology as possible, of what information is needed • Should be framed to ensure information obtained will satisfy research purpose • Three Components: • Research Question • Hypothesis Development • Research Boundaries Essentials of Marketing Research Kumar, Aaker, Day

  13. The Marketing Research Process (Research Objective) • Research Question • Specifies information the decision maker needs to achieve the research purpose • Hypotheses development • Alternative answers to the RQ – research to reveal which of these are correct • Research Boundaries • Who / what should be included – what should be left out. Essentials of Marketing Research Kumar, Aaker, Day

  14. Case: New Health Club: Research Questions • Consumers ignore advertising? Essentials of Marketing Research Kumar, Aaker, Day

  15. Case: New Health Club: Research Questions • Intense pre-existing competition Essentials of Marketing Research Kumar, Aaker, Day

  16. Case: New Health Club: Research Questions • Outdated competitor’s facilities Essentials of Marketing Research Kumar, Aaker, Day

  17. Case: New Health Club: Research Questions • Increasing YUPPIES Essentials of Marketing Research Kumar, Aaker, Day

  18. Hypothesis Development Theory Management Experience Exploratory Research Research Purpose Research Question Hypothesis Research Design Essentials of Marketing Research Kumar, Aaker, Day

  19. Role of the Hypothesis • Introduces more detail than the RQ • RQ: Why are sales in the Northeast lower than the national average? • H1: The competitor released a new ad campaign • H2: The weather was abnormally cold • H3: A distribution snafu prevented products from reaching the retailers • Introduces variables to be included in the research design (e.g. new ad campaign, temperature, distribution problems) Essentials of Marketing Research Kumar, Aaker, Day

  20. Case: New Health Club: Hypotheses • Consumers ignore advertising? Essentials of Marketing Research Kumar, Aaker, Day

  21. Case: New Health Club: Hypotheses • Intense pre-existing competition Essentials of Marketing Research Kumar, Aaker, Day

  22. Case: New Health Club: Hypotheses • Outdated competitor’s facilities Essentials of Marketing Research Kumar, Aaker, Day

  23. Case: New Health Club: Hypotheses • Increasing YUPPIES Essentials of Marketing Research Kumar, Aaker, Day

  24. The Marketing Research Process (Research Objective) Research Question Research Hypothesis Purpose Develop a can How effective is The design that design for the each of several conforms to the new Miller beer different design advertising message alternatives? is best. Increasing What is the current Builders Square’s Builders Square image of Builders image is not as good store traffic Square? as its competitor’s image. Essentials of Marketing Research Kumar, Aaker, Day

  25. Market Research Process • Agree on Research Purpose • Establish Research Objectives • Estimate Value of Information Essentials of Marketing Research Kumar, Aaker, Day

  26. The Marketing Research Process (Estimated Value) • Expected Value Concept • Cost of conducting the research vis-à-vis the benefits of conducting research and benefits of not conducting research • Probabilities associated with outcomes Essentials of Marketing Research Kumar, Aaker, Day

  27. Expected Value of Introducing a product Essentials of Marketing Research Kumar, Aaker, Day

  28. Expected Value of Introducing a product • In case 1, we have profits under both options, hence we will introduce the product – research is of little use here • In case 2, we have a loss which can be avoided if research tells us not to introduce the product • What is the maximum you will pay for doing the research? • ANS: $1m Essentials of Marketing Research Kumar, Aaker, Day

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