e视人苦 Topic 4 Conducting marketing research 2008-3-14
2008-3-14 1 Conducting Marketing Research Topic 4
e视人苦 LEARNING OBJECTIVES After completing this topic, you should know Know what constitutes good marketing research Know what are good metrics for measuring marketing productivity Know how marketers can assess their returns on investment of marketing expenditures 2008-3-14
2008-3-14 2 LEARNING OBJECTIVES • After completing this topic, you should know: – Know what constitutes good marketing research – Know what are good metrics for measuring marketing productivity – Know how marketers can assess their returns on investment of marketing expenditures
e视人苦 Why Marketing Research In addition to monitoring a changing marketing environment, marketers also need to develop specific knowledge about their particular markets Good marketers want information to help them interpret past performance as well as plan future activities Marketers need timely, accurate, and actionable information on consumers, competition, and their brands 2008-3-14
2008-3-14 3 Why Marketing Research ? • In addition to monitoring a changing marketing environment, marketers also need to develop specific knowledge about their particular markets. • Good marketers want information to help them interpret past performance as well as plan future activities. • Marketers need timely, accurate, and actionable information on consumers, competition, and their brands
e视人苦 7 Characteristics of good mkt research Scientific method Research creativity Multiple methods Interdependence of models and data Value and cost of information Healthy skepticism Ethical marketing 2008-3-14
2008-3-14 4 7 Characteristics of Good Mkt Research • Scientific method • Research creativity • Multiple methods • Interdependence of models and data • Value and cost of information • Healthy skepticism • Ethical marketing
e视人苦 Marketing Research Process Define the problem research objectives Develop the research plan Collect the information Analyze the information Present the findings Make the decision 2008-3-14
2008-3-14 5 Marketing Research Process Define the problem & research objectives Develop the research plan Collect the information Analyze the information Present the findings Make the decision
e视人苦 1. Define the problem research objectives Marketing management must be careful not to define the problem too broadly or too narrowly for the marketing researcher Some research is exploratory--its goal is to shed light on the real nature of the problem and to suggest possible solutions or new ideas Some research is descriptive--it seeks to ascertain certain magnitudes Some research is causal--its purpose is to test a cause-and-effect relationship 2008-3-14
2008-3-14 6 1. Define the Problem & Research Objectives • Marketing management must be careful not to define the problem too broadly or too narrowly for the marketing researcher. • Some research is exploratory—its goal is to shed light on the real nature of the problem and to suggest possible solutions or new ideas. • Some research is descriptive—it seeks to ascertain certain magnitudes. • Some research is causal—its purpose is to test a cause-and-effect relationship
e视人苦 Research Purpose Research Question Hypothesis Exploratory Research What new product What alternative ways unc are tter than should be developed? are there to provide forms lunches for school children? Descriptive Research How should a new Where do people now Upper-class buyers use specialty product be distributed? buy similar products?stores, and middle-class buyers use department stores Causal research s Will an increase in the What is the relationship For small organizations, an vices staff be between size of services increase of 50% or less will profitable? staff and revenue? generate marginal revenue in excess of marginal costs 2008-3-14
2008-3-14 7 Research Purpose Research Question Hypothesis Exploratory Research What new product should be developed? What alternative ways are there to provide lunches for school children? Boxed lunches are better than other forms. Descriptive Research How should a new product be distributed? Where do people now buy similar products? Upper-class buyers use specialty stores, and middle-class buyers use department stores. Causal Research Will an increase in the services staff be profitable? What is the relationship between size of services staff and revenue? For small organizations, an increase of 50% or less will generate marginal revenue in excess of marginal costs
e视人苦 2. Develop the Research Plan The marketing manager needs to know the cost of the research plan before approving it Designing a research plan calls for decisions on the Data sources Research approaches Research instruments Sampling plan Contact methods 2008-3-14
2008-3-14 8 2. Develop the Research Plan • The marketing manager needs to know the cost of the research plan before approving it. • Designing a research plan calls for decisions on the: – Data sources. – Research approaches. – Research instruments. – Sampling plan. – Contact methods
e视人苦 Data sources The research can gather secondary data, primary data or both Secondary data are data that were collected for another purpose and already exist Primary data are data freshly gathered for a specific purpose or for a specific research project Researchers usually start out their investigation by examining secondary data Secondary data provides a starting point and offers the advantages of low cost and ready availability Most marketing research projects involve some primary data collection 2008-3-14
2008-3-14 9 Data Sources • The research can gather secondary data, primary data, or both. – Secondary data are data that were collected for another purpose and already exist. – Primary data are data freshly gathered for a specific purpose or for a specific research project. • Researchers usually start out their investigation by examining secondary data. • Secondary data provides a starting point and offers the advantages of low cost and ready availability. • Most marketing research projects involve some primary data collection
e视人苦 Research Approaches Observational research Fresh data can be gathered by observing the relevant actors and settings 2008-3-14
2008-3-14 10 Research Approaches • Observational Research – Fresh data can be gathered by observing the relevant actors and settings