* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Marketing Research
Multi-level marketing wikipedia , lookup
Digital marketing wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Youth marketing wikipedia , lookup
Ambush marketing wikipedia , lookup
Marketing strategy wikipedia , lookup
Viral marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Direct marketing wikipedia , lookup
Field research wikipedia , lookup
Marketing plan wikipedia , lookup
Product planning wikipedia , lookup
Multicultural marketing wikipedia , lookup
Neuromarketing wikipedia , lookup
Green marketing wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Street marketing wikipedia , lookup
Global marketing wikipedia , lookup
Chapter 8 Marketing Research, Decision-Support Systems, and Sales Forecasting Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Objectives 1. Describe the development of the marketing research function and its major activities. 2. List and explain the steps in the marketing research process 3. Differentiate between the types and sources of primary and secondary data. 4. Explain the different sampling techniques used by marketing researchers. 5. Identify the methods by which marketing researchers collect primary data. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Objectives 6. Discuss the challenges of conducting marketing research in global markets. 7. Outline important uses of computer technology and marketing research. 8. Identify the major types of forecasting methods and explain the steps in the forecasting process. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. In this advertisement H&R Block uses one numerical statistic, 63%, to make a point. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Marketing Research • Marketing research: the process of collecting and using information for marketing decisionmaking. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Marketing Research Suppliers Classifications • Syndicated Services – An organization that regularly provides a standardized set of data to all customers. • Full-Service Research Suppliers – An organization that contracts with clients to conduct complete marketing research projects. • Limited-Service Research Suppliers – A marketing research firm that specializes in a limited number of activities such as conducting field interviews or performing data processing. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Products & Services Info Press Search MRI+ MRI Interactive MEMRI Staff Directory Top-Line Reports “Mediamark Research offers comprehensive demographic, lifestyle, product usage and exposure to all forms of advertising media collected from a single sample.” Source Mediamark Web Site. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. The Marketing Research Process 1. Defining the Problem Perceived Information Need Feedback on Research and Marketing Decision Effectiveness Marketing Decision Based on Information Collected Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. A well-defined problem – Permits the researcher to focus on securing the exact information needed for the solution and increases the speed and accuracy of the research process. Did eTrade conduct research to establish that there may be a need for their type of service? Based on their success it is safe to assume they did. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. The Marketing Research Process 1. Defining the Problem Perceived Information Need 2. Conduct Exploratory Research Feedback on Research and Marketing Decision Effectiveness Marketing Decision Based on Information Collected Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Exploratory Research – Seeks to discover the cause of a specific problem by discussing the problem with informed sources both within and outside the firm. – Can include evaluation of company records. The Marketing Research Process 1. Defining the Problem Perceived Information Need 2. Conduct Exploratory Research 3. Formulating a Hypothesis Feedback on Research and Marketing Decision Effectiveness Marketing Decision Based on Information Collected Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Formulate a Hypothesis A tentative explanation for some specific event. A statement about the relationship among variables. It sets the stage for more in-depth research. The Marketing Research Process 1. Defining the Problem Perceived Information Need 2. Conduct Exploratory Research 3. Formulating a Hypothesis 4. Creating a Research Design Feedback on Research and Marketing Decision Effectiveness Marketing Decision Based on Information Collected Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Create a Research Design –A master plan or model for conducting marketing research. –Marketers must be sure that the study will measure what they intend to measure. –Important design consideration is the selection of respondents. Marketing Research • Marketing research can provide important information about your current or potential customer base. – Information such as buying habits, needs, opinions, and preferences are critical and can be obtained through research. – Research can be performed in many ways; surveys, focus groups, personal interviews, observation and field trials. – In determining which technique to use consideration needs to be given to how much money you are willing to spend, the type of data needed and how quickly you need the data. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. The Marketing Research Process 1. Defining the Problem Perceived Information Need 4. Creating a Research Design two kinds of data) 1.Secondary Data 2. Conduct Exploratory Research 3. Formulating a Hypothesis Collect Data (There are Feedback on Research and Marketing Decision Effectiveness 5. Collecting Data a. Primary Data b. Secondary Data Marketing Decision Based on Information Collected Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. is information from previously published or compiled sources. 2.Primary data refers to information collected for the first time specifically for a marketing research study. The Marketing Research Process 1. Defining the Problem Perceived Information Need 2. Conduct Exploratory Research 3. Formulating a Hypothesis 4. Creating a Research Design Feedback on Research and Marketing Decision Effectiveness 5. Collecting Data a. Primary Data b. Secondary Data 6. Interpreting and Presenting the Research Information Marketing Decision Based on Information Collected Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Interpret and Present Research Information –Interpret findings and present them to decision makers in a format that allows management to make effective judgments. – Researchers must remember to direct their reports toward management and not to other researchers and spell out their conclusions in clear and concise terms. The film industry is extremely competitive and blunders are costly. In order to enhance the success rate of a film producers can turn to marketing research. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Sampling Techniques Sampling is the process of selecting survey respondents or research participants. Samples can be classified as: • Probability Sample is one that gives every member of the population a chance of being selected. Types of probability samples include simple random samples, stratified samples, and cluster samples. or Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Sampling Techniques Sampling is the process of selecting survey respondents or research participants. Samples can be classified as: • Non-probability Sample is an arbitrary grouping that does not permit the use of standard statistical tests. Types of non-probability samples are convenience samples and quota samples. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Primary Research Methods • • Slide 1 of 2 Observation Method. Researchers view the overt actions of the subjects. Survey Method. Ask questions to get information on attitudes, motives, and opinions. Researchers can use either interviews or questionnaires. A. Telephone Interviews. – A quick and inexpensive method for obtaining a small quantity of relatively impersonal information. B. Personal Interviews. – The Best means for obtaining detailed information about consumers C. Focus Groups. – Brings together 8 to 12 individuals in one location to discuss a subject of interest. – Usually encourages a general discussion of a predetermined topic. D. Mail Surveys. – Cost-effective alternative and also provide anonymity. – Help markets track consumer attitudes through ongoing research. – Response rates are typically much lower than for personal interviews. – Usually takes a long time to conduct. – Questionnaire cannot answer unanticipated questions that occur. – Researchers must worry about bias. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Primary Research Methods Slide 2 of 2 • Experimental Method. Least-used method for collecting primary data. Most common use of this method by marketers is testmarketing. – Three Problems with test-marketing: – Test-marketing is expensive. – Competitors quickly learn about the new product. – Some products are not well-suited to test-marketing. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. The Marketing Decision Support System • A marketing decision support system (MDSS) consists of software that helps users quickly obtain and apply information in a way that supports marketing decisions. • MDSS can create simulations or models to illustrate the likely results of changes in marketing strategies or market conditions. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. There are a number of firms available to help in designing and implementing a Marketing Decision Support System for a particular business. This web site offers a variety of valuable services to help in this area. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Forecasting Basic to the marketing plan is forecasting. • The two methods of forecast are: – Qualitative - these techniques rely on subjective data that repots opinions rather than exact historical data. – Quantitative - this method uses statistical computations such as trend extensions, computer simulations, and economic models. Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved.