Download What we will discuss today

What we will discuss today

Some requirements for marketing
research

Primary vs. secondary research

Market forecasting considerations
Requirements for Conducting
Marketing Research

Systematic

Decision Oriented

Objective

Specific
Research Plan

Types and Methods

Sample Selection

Data
Research Methods

Observational Research

Focus-Group Research

Survey Research

Scanner Data
Research Instruments 1
Questionnaires

Validity: are we measuring what we want to
measure?
– Divergent Validity
– Convergent Validity

Multiple
Measures
Reliability: are the measures consistent over time
and across situations?
– Repeated Measures
– Tests
and now,
a test!
Foreign nationals should be allowed to hold jobs in
the United States.
Strongly
Agree
1 2 3 4 5 6 7
Strongly
Disagree
Foreign governments should allow American citizens
to hold jobs in their countries.
Strongly
Agree
1 2 3 4 5 6 7
Strongly
Disagree
Research Instruments 2

Multiple Regression: the relationship of one set of
variables on another set of variables

Discriminant Analysis: what factors distinguish two
populations

Cluster Analysis: determine groups or clusters with
similar characteristics in a population
Sampling 1

Sampling Unit - the target population (who)

Sample Size - can be quite small (how many), depends
on sampling procedure
Sampling 2:
Sampling Procedure

Probability Sample: allows calculation of
confidence limits due to sampling error
– Simple Random Sample
– Stratified Random Sample: mutually exclusive
groups
– Cluster Sample: mutually exclusive areas
Sampling 3:
Sampling Procedure

Nonprobability Sample
– Convenience Sample: the most accessible sample
– Judgement Sample: use judgement as to which
population might make the best subjects
– Quota Sample: find and test certain # of subjects in
each of several categories
A Sampling Problem
You know that most pen
manufacturers have a high rate
of defective pens.
You receive a shipment of
10,000 pens in a box. How
can you determine the quality of
this shipment?
Primary Vs. Secondary Data

Speed

Expense

Expertise

Info Accessibility
Data

Costly

Time Consuming

Fit With Needs
Sources of Market Information
Books and Periodicals
 Consultants and Research Firms
 Customers
 Internal Records
 Grapevine
 Employees
 Public records from competitors
 Suppliers

Death by data asphyxiation
Kipling on Secondary Data?
I keep six honest serving men,
(they taught me all I know),
their names are What, and Why, and When,
and How and Where and Who.
– “The Elephant’s Child” by Rudyard
Kipling
Secondary Data: Some Questions
to Consider
When was it collected?
 How was it collected?
 What is the expected level of accuracy?
 Who collected the data?
 Where was it collected; for what
purpose?

Top ten developments expected
to occur between 1969 to 1979
10. Sustained nuclear fusion to produce power
9. Fast breeder reacters for power generation
8. Nuclear-powered aircraft
7. Adhesive-bonded aircraft
6. Superhigh-speed submersibles
5. Ultrahigh-speed ground transportation
4. Superconducting coils for levitating speed vehicles
3. Room temperature superconducting materials
2. Manned exploration of Mars and Venus
1. Plastics as primary structures in buildings
Some Guidelines in Making
Market Forecasts

Ask fundamental questions about
markets
–
–
–
–
e.g., Who are the customers?
How large is the market?
Is there a real benefit?
Does the innovation go against customs,
culture, or established business practice?
– Are social trends moving toward or away
from this market?
Some Guidelines in Making
Market Forecasts

Avoid technological wonder

Stress cost-benefit analysis

Consider multiple methods and multiple
scenarios
What we discussed today

Some requirements for marketing research

Primary vs. secondary research

Market forecasting considerations