Marketing Research: Gathering, Analyzing, and Using Information Zou Deqiang, Ph. D School of Management, Fudan University March 19. 2008
1 Marketing Research Marketing Research : Gathering, Analyzing, Gathering, Analyzing, and Using Information and Using Information Zou Deqiang, Ph.D. School of Management, Fudan University March 19, 2008
Something to Mention Term group project(20% of your final score) >A marketing plan or marketing research report Primary data required Solid analysis with marketing theory and knowledge Group presentation: June 18 (17th week) Submit your proposal and report to me, ·7 th and8 th week Online resource added Guidelines How to Sample marketing plans Sample marketing research reports Sample questionnaires O Copy rights reserved, Zou Deqiang
2 2 © Copy rights reserved, Zou Deqiang Something to Mention • Term group project (20% of your final score) ¾A marketing plan or marketing research report ¾Primary data required ¾Solid analysis with marketing theory and knowledge ¾Group presentation: June 18 (17th week) ¾Submit your proposal and report to me, • 7th and 8th week • Online resource added: ¾Guidelines, How to … ¾Sample marketing plans ¾Sample marketing research reports ¾Sample questionnaires
Some Common Misunderstandings of marketing research It is about survey with questionnaire development and collection > It is about data analysis with statistical software, e.g SPSS. SAS. and lIsrEl > It is about statistical inference from data Only quantitative methods are scientific >It is objective, not subjective >It is substitute of theory or insight The implications of findings are self-evident O Copy rights reserved, Zou Deqiang
3 3 © Copy rights reserved, Zou Deqiang Some Common Misunderstandings • … of marketing research ¾It is about survey with questionnaire development and collection ¾It is about data analysis with statistical software, e.g., SPSS, SAS, and LISREL ¾It is about statistical inference from data ¾Only quantitative methods are scientific ¾It is objective, not subjective ¾It is substitute of theory or insight ¾The implications of findings are self-evident
DONT THROW GOOD MONEY Purpose AT A BAD IDEA. □ The primary purpose of research is to reduce the level of risk of a marketing decision netmae you launch your new produc. see f anyone wants it. etesi your new mosT t Greenfieldonline O Copy rights reserved, Zou Deqiang
4 4 © Copy rights reserved, Zou Deqiang Purpose The primary purpose of research is to reduce the level of risk of a marketing decision The primary purpose of research is to reduce the level of risk of a marketing decision
Why Marketing Research? Philip Kotler stated, "Research is the starting point for marketing. Without research a company enters a market like a blind man.” In most companies, spending on marketing research is considered an expense, not an investment in risk reduction Until we develop and can agree on measures of return on marketing research investment(ROMD), the marketing research function will continue to suffer the fate of short budgets and yo-yo staffing Suggested Reading: .Lesh, Dawn and Diane Schmalensee(2004), "Measuring Returns on Research, Marketing Research, (Fall), 22-27 5 C Copy'ttentsresereeer zen1..a
5 5 © Copy rights reserved, Zou Deqiang Why Marketing Research? • Philip Kotler stated, “Research is the starting point for marketing. Without research a company enters a market like a blind man.” • In most companies, spending on marketing research is considered an expense, not an investment in risk reduction. • Until we develop and can agree on measures of return on marketing research investment (ROMI), the marketing research function will continue to suffer the fate of short budgets and yo-yo staffing. Suggested Reading: •Lesh, Dawn and Diane Schmalensee (2004), “Measuring Returns on Research,” Marketing Research, (Fall), 22-27. Suggested Reading: •Lesh, Dawn and Diane Schmalensee (2004), “Measuring Returns on Research,” Marketing Research, (Fall), 22-27
Why Study Marketing Research? Marketing research provides information to Good research guide marketing is like a parachute. Without it, you conld comte to the wrong conclusion decisions wwe waked with al anara an fielding projects d all typo soe why our seasone safl o prea suecos Suggested reading: tall Iree at TIRP. 233 and ask abeut Neal, William D(2002), Getting Serious about JRE Marketing research Marketing Research (Summer), 24-28 O Copy rights reserved, Zou Deqiang
6 6 © Copy rights reserved, Zou Deqiang Why Study Marketing Research? Marketing research provides information to guide marketing decisions Suggested Reading: •Neal, William D. (2002), “Getting Serious about Marketing Research,” Marketing Research, (Summer), 24-28. Suggested Reading: •Neal, William D. (2002), “Getting Serious about Marketing Research,” Marketing Research, (Summer), 24-28
And Marketing researchers bring the voice of the customer (voC) to the decision-making table More than 50% of the MBa programs in the United States don't require a single course in marketing research 7 O Copy rights reserved, Zou Deqiang
7 7 © Copy rights reserved, Zou Deqiang And … • Marketing researchers bring the voice of the customer (VOC) to the decision-making table. • More than 50% of the MBA programs in the United States don’t require a single course in marketing research
Marketing Research Defined Systematic design, collection analysis, and reporting of data and findings relevant to a specific marketing situation facing a company 8 O Copy rights reserved, Zou Deqiang
8 8 © Copy rights reserved, Zou Deqiang Marketing Research Defined Systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing a company. Systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing a company
To Be professional Synovate: Curiosity is necessary to be a good marketing researcher www.synovate.com Need for uniqueness? iMac for professors Suggested Reading: Segal. Madhav N. and Edmund Hershberger(2006),Preparing Research Professionals, Marketing Research, (Fall), 18-25 9 O Copy rights reserved, Zou Deqiang
9 9 © Copy rights reserved, Zou Deqiang To Be Professional • Synovate: Curiosity is necessary to be a good marketing researcher • www.synovate.com • Need for uniqueness? ¾ iMac for professors Suggested Reading: •Segal, Madhav N. and Edmund Hershberger (2006), “Preparing Research Professionals,” Marketing Research, (Fall), 18-25. Suggested Reading: •Segal, Madhav N. and Edmund Hershberger (2006), “Preparing Research Professionals,” Marketing Research, (Fall), 18-25
The Marketing Research Process Defining the problem and research objectives Developing the research plan Implementing the research plan Interpreting and reporting the findings Defining the Developing the implementing the problem and research plan research plan Interpreting and research for collecting collecting and eporting objectives analyzing the dat the findings O Copy rights reserved, Zou Deqiang
10 10 © Copy rights reserved, Zou Deqiang The Marketing Research Process • Defining the problem and research objectives • Developing the research plan • Implementing the research plan • Interpreting and reporting the findings