Marketing Research Process

1. Marketing Research Process BUS ADM 462: Marketing Research I-Hsuan (Shaine) Chiu

2. Learning Objectives • Identify the process in marketing research • Translate a managerial decision problem/statement into research objectives

3. Tasks of MR (Marketing Research)

4. Define the Problem The most important step in the MR process!!!

5. Why are Managers Frustrated with Marketing Research? • The research told the mangers things they already know • The research did not explain “why” • The research did not understand what the managers want

6. Backward Market Research

7. Backward Market Research From managerial decision problems to marketing research objectives/questions

8. Three Steps to Transform Managerial Decision Problems to Research Objectives Case Study: New Coke

9. Three Steps to Transform Managerial Decision Problems to Research Objectives

10. Three Steps to Transform Managerial Decision Problems to Research Objectives • Establish research objectives to verify the marketing actions • Identifying assumptions • Assumptions: Statements that are taken as true for the purposes of argument or investigation • If “assumptions” are true, the marketing action will work well • Are the assumptions true? Are there evidence to support the assumptions? • Example: Add gluten-free/vegan pizza to the menu • Assumption: Current customers are satisfied with current products • Assumption: New customers are looking for different products

11. Three Steps to Transform Managerial Decision Problems to Research Objectives • Establish research objectives to verify the marketing actions • Defining construct • Construct • An abstract idea or concept composed of a set of attitudes or behaviors that are thought to be related • Use multiple characteristics to measure • Construct = Variable • There are many different ways to operationalize (= define = measure) construct • Helps to determine what type of information should be measured • Example: • IQ: verbal knowledge, perceptual speed, short-term memory and spatial visualization • Customer value: recency, frequency and monetary (RFM) • Loyalty, awareness, interest, etc.

12. Three Steps to Transform Managerial Decision Problems to Research Objectives • Establish research objectives to verify the marketing actions

13. Three Steps to Transform Managerial Decision Problems to Research Objectives • Establish research objectives to verify the marketing actions • An example

14. From Decision Problem to Research Objectives/Questions

15. Benefits of Backward Market Research • Goal oriented approach – increase the likelihood of actionability of research results • Improvement on the research itself • Reveal what research is needed • Reveal what research is not needed • Managers are more supportive and gain deeper understanding of the research • Know what to expect • Know the limitations of the study • Improve the communication between managers and researchers • Is helpful in data gathering • Helps determine the appropriateness of using probability sampling technique