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1 4 Conducting Marketing Research What is Marketing Research? Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-2 The Marketing Research Process Define the problem Develop research plan Collect information Analyze information Make decision Present findings Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-3 Step 1: Define the Problem Define the problem Specify decision alternatives State research objectives Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-4 Data Sources Internal External Secondary Data (Already Exists) Primary Data (Freshly Gathered For A Specific Purpose) 4-5 Types of Research Exploratory Descriptive Causal Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-6 Step 2: Develop the Research Plan Data Sources Research Approach Research Instruments Sampling Plan Contact Methods 4-7 Research Approaches Observation Ethnographic Focus Group Survey Behavioral Data Experimentation Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-8 Focus Groups Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-9 Question Types – Likert Scale Indicate your level of agreement with the following statement: Small airlines generally give better service than large ones. Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-10 Sampling Plan Sampling unit: Who is to be surveyed? Sample size: How many people should be surveyed? Sampling procedure: How should the respondents be chosen? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-11 Contact Methods Mail Questionnaire Telephone Interview Personal Interview Online Interview Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-12 What are Marketing Metrics? Marketing metrics are the set of measures that helps marketers quantify, compare, and interpret marketing performance. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-13 Table 4.4 Marketing Metrics External Awareness Market share Relative price Number of complaints Customer satisfaction Distribution Total number of customers Loyalty Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-14 Figure 4.3 Example of a Marketing Dashboard 4-15