Download Marketing Research

Marketing Research:
Getting Information for Marketing
Decision Making
To Accompany Basic Marketing, 14th Edition
by William D. Perreault, Jr. and E. Jerome McCarthy
Your host:
David J. Urban
Professor of Marketing
Virginia
Commonwealth
University
Key Topics in Marketing Research
Marketing
Research
What is it?
Why is it important?
How is it done?
Marketing Research Defined
Marketing Research consists of the procedures
to develop and analyze new information
to help marketing managers make decisions.
Marketing research gets the "facts" not
already available in the marketing
information system.
Who Does “Custom” Marketing Research
Marketing
Research
Suppliers
In-house research departments
Custom research firms
Consulting firms
Advertising agencies
Syndicated services
Colleges and universities
Internationalization of Marketing Research
The Importance of Marketing Research
Reason #1: Not getting the right information is
the fastest path to marketing disaster.
• Base marketing
strategies on valid
evidence and analysis
Don’t blow it!
The Importance of Marketing Research
Reason #2: research is often done poorly … and
with serious consequences
•
Managers may not know much
about research
• Quality of suppliers is highly
variable
• Research is often done on a
crisis basis
The Importance of Marketing Research
Reason #3: big changes are underway because
of technology
• Instant feedback and rapid change
• “Real time” data
• Lack of understanding about how to use
the tools
• Changes do not happen
all at once
Ethical Issues in Marketing Research
Ethical
Issues
Withheld information
Acceptability of Findings
Research vs. Selling
“Lying” with Statistics
Marketing Research Process – Step 1
Early
Identification
of
Solution
Defining
the
Problem
•
Most important and difficult part of the
process
•
What do we need to know?
•
What pieces of information will give us
what we need?
•
Manager and researcher must work
together
Researcher – Manager Collaboration
That overpaid yuppie is
clueless--she doesn’t
even know how a chisquare is computed
That marketing research
geek doesn’t understand
my business--she doesn’t
even know my competitors!
Marketing Research Process – Step 2
Early
Identification
of
Solution
Defining
the
Problem
Analyzing
the
Situation
•
What information is already available
•
Expert interviews and case studies
•
Secondary data
Feedback to Previous Steps
An Example of Secondary Data
Marketing Research Process – Step 3
Early
Identification
of
Solution
Defining
the
Problem
Analyzing
the
Situation
Getting
ProblemSpecific
Data
Feedback to Previous Steps
Primary Data -- Qualitative
Primary Data - Quantitative
Questioning
Mail, telephone, face-to-face, and internet surveys
Primary Data - Quantitative
Questioning
Mail, telephone, face-to-face, and internet surveys
Observation
Human or machine observers
Primary Data - Quantitative
Questioning
Mail, telephone, face-to-face, and internet surveys
Observation
Human or machine observers
Experiments
Cause and effect relationships
The Research Proposal
A good research proposal keeps the process
on track
What it
will cost
How long
it will take
What
data will be
collected
Research
Proposal
Quality control
standards that will
be used
How it
will be
collected
From whom
Who will
analyze it
Marketing Research Process – Step 4
Early
Identification
of
Solution
Defining
the
Problem
Analyzing
the
Situation
Getting
ProblemSpecific
Data
Feedback to Previous Steps
Interpreting
Data
Data Interpretation
Key
Issues
Is the sample representative?
Is the data reliable?
Is the data valid?
Are the statistical techniques appropriate?
Data Interpretation
Marketing Research Process – Step 5
Early
Identification
of
Solution
Defining
the
Problem
Analyzing
the
Situation
Getting
ProblemSpecific
Data
Feedback to Previous Steps
Interpreting
Data
Solving
the
Problem
Information Enters a Database
Information
Sources
Questions
and Answers
Market
Research
Studies
Internal
Data
Sources
External
Data
Sources
Inputs
Databases
Decision
Maker
Results
Support Systems Interact with the Database
Market
Research
Studies
Internal
Data
Sources
External
Data
Sources
Questions
and Answers
New Information
Information
Sources
Decision
Maker
Marketing
Models
Answers
?
Inputs
Databases
Decision
Support
System
(DSS)
Information
Processing
Specialists
Results
Decisions and Outcomes
Market
Research
Studies
Internal
Data
Sources
External
Data
Sources
Questions
and Answers
New Information
Information
Sources
Decision
Maker
Results
Marketing
Models
Answers
?
Inputs
Databases
Decision
Support
System
(DSS)
Marketing
Manager
Decisions
Information
Processing
Specialists
Feedback
Outcomes
Marketing Strategy Planning Process
Narrowing down to focused strategy with quantitative and qualitative screening criteria
Customers
Needs and other
Segmenting
Dimensions
Company
Mission, Objectives,
& Resources
Targeting &
Segmentation
S.
W.
O.
T.
Positioning &
Differentiation
Competitors
Current &
Prospective
External Market Environment
Technology Political & Legal Social & Cultural
Economic