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Marketing Research

Marketing Research. Marketing research. Marketing research is a process of discovering useful information about environment, customers, and competition Marketing research plays a role in situational analysis, marketing program development and evaluation

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Marketing Research

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  1. Marketing Research

  2. Marketing research • Marketing research is a process of discovering useful information about environment, customers, and competition • Marketing research plays a role in situational analysis, marketing program development and evaluation • Reduces risk and uncertainty when making decisions Week6: Marketing Research

  3. Marketing research process Define the objective Conduct situational analysis Conduct informal investigation Further study needed? End project and report results No Yes Plan and conduct formal investigation Analyze data and report results Conduct follow-up Week6: Marketing Research

  4. Marketing research process: Defining the objective • Defining a problem • Solving a problem Week6: Marketing Research

  5. Marketing research process: Situational analysis • At this stage, we get background information that helps refining the research problem • Collecting secondary data about company and its environment Week6: Marketing Research

  6. Marketing research process: Informal investigation • Gathering readily available data from people inside and outside the company-- intermediaries, competitors, advertising agencies, and consumers • Make decision if you need further study Week6: Marketing Research

  7. Marketing research process: Formal Investigation • Primary data and secondary data • Secondary data • information that already exists somewhere, having been collected for another purpose • Primary data • information collected for the specific purpose at hand Week6: Marketing Research

  8. Marketing research process: Formal Investigation (cont.) • Sources of secondary data • internal sources • balance sheets, sales figures, customer DB • government publications • statistics Canada • periodicals and books • Canadian trade index, Advertising age • commercial data • A.C. Nielsen, IRI, • internet Week6: Marketing Research

  9. Advantages of secondary data low cost less effort expended process less time consuming some information can be obtained only from secondary data Disadvantages of secondary data collected for some other purpose may not be very accurate maybe outdated Marketing research process: Formal Investigation (cont.) Week6: Marketing Research

  10. Marketing research process: Formal Investigation (cont.) • Primary data collection process • Data collection methods • survey • qualitative research • observation • experiment • Design study materials (e.g., questionnaire design) • Sampling • Data collection Week6: Marketing Research

  11. Marketing research process: Formal Investigation (cont.) • Survey • Data collection by asking people questions • personal interview • telephone survey • mail survey • Advantages • large size data, flexibility • Disadvantages • errors in questionnaire, expensive, time to conduct, response error Week6: Marketing Research

  12. Marketing research process: Formal Investigation (cont.) • Survey (cont.) • Personal interview • Advantages • flexible, more information • Disadvantages • expensive, time-consuming, interviewer bias • Shopping mall intercept: a convenient, low cost method but lacks the representativeness of the sample Week6: Marketing Research

  13. Marketing research process: Formal Investigation (cont.) • Survey (cont.) • Telephone survey • The respondents are approached by telephone • Advantages • quickness, cost efficiency • Disadvantages • limited amount of information, limited accessibility of people Week6: Marketing Research

  14. Marketing research process: Formal Investigation (cont.) • Survey (cont.) • Mail survey • Advantages • low cost • Disadvantages • low response rate • less control Week6: Marketing Research

  15. Marketing research process: Formal Investigation (cont.) • Qualitative research • Types • individual depth interview • Focus group interview • Advantages • resulting data has more depth and richness of context • Disadvantages • results not necessarily representative of population • ambiguity in results Week6: Marketing Research

  16. Marketing research process: Formal Investigation (cont.) • Qualitative research (cont.) • Focus group interview • Loosely structured group discussion led by interviewer • The discussion is observed or videotaped • Best for preliminary research • Individual depth interview: similar interview with a single person Week6: Marketing Research

  17. Marketing research process: Formal Investigation (cont.) • Observational method • Types • personal observation • mechanical observation • Advantages • high degree of accuracy, short period of time for data collection, no interviewer bias • Disadvantages • unaware of motives, attitudes, or opinions Week6: Marketing Research

  18. Marketing research process: Formal Investigation (cont.) • Experiment • A research method to test the effects of some variables in a controlled situation • Example: test of two different versions of advertisements • Advantages • control • Disadvantages • unrealistic settings, biased response Week6: Marketing Research

  19. Marketing research process: Formal Investigation (cont.) • Questionnaire design • Wording • simple, direct, unbiased • written with respondents in mind • Order • first question should create interest if possible • difficult and personal questions should be asked last • Format • open-ended questions • closed-end questions Week6: Marketing Research

  20. Marketing research process: Formal Investigation (cont.) • Examples: Questionnaire design • Q1. What is your income last year? • Q2. Do you agree that all automobiles should be equipped with airbags that can save valuable lives? • Q3. What is the most salient and determinant attributes in your evaluation of an automobile? • Q4. How do you evaluate the fuel efficiency and the price of our car? Week6: Marketing Research

  21. Marketing research process: Formal Investigation (cont.) • More examples: Questionnaire design • (asked Americans) “What do you think is the most important problem facing this country today?” 1) the energy shortage 2) quality of public school 3) legalized abortion 4) pollution ---> 32% quality of public school • Same question in open-ended form ---> 1% quality of public school Week6: Marketing Research

  22. Marketing research process: Formal Investigation (cont.) • Sampling • A sample is a subset of the population selected to represent the population as a whole • Samples should be representative of the population • Sample size • larger sample gives more reliable results • small samples are OK when they represent the population (US presidential election poll: sample size of 1,000) Week6: Marketing Research

  23. Marketing research process: Formal Investigation (cont.) • Representative sample: An example • In 1936, Literary Digest’s conducted postcard US Presidential election poll • Sample size: 10 million Americans (2 million returned) • Sampling based on telephone books and automobile registrations • Survey result: Alf Landon > Franklin Roosebelt • Election result: Alf Landon < Franklin Roosebelt Week6: Marketing Research

  24. Marketing research process: Formal Investigation (cont.) • Sampling (cont.): Sampling procedure • random sampling • every member of the population has a known probability of being included • convenience sampling • the researcher selects easiest population members from which to obtain information • lacks the represntativeness of the population • (e.g.) shopping mall intercept Week6: Marketing Research

  25. Marketing research process: Data analysis and Report • Analyze data and report results • code data • perform statistical analysis • interpret results Week6: Marketing Research

  26. Marketing Information System (MkIS) • A system that generates, analyzes, store, and retrieves information for marketing decision making • Benefits of MkIS • a fast information for decision making • a wide variety of data collected and used • the performances of product and markets can be monitored Week6: Marketing Research

  27. Marketing Information System • MkIS • collect • storage • analysis • retrieval • disseminate Marketer Information need Decision oriented inf. • Data • primary • secondary Week6: Marketing Research

  28. Marketing Decision Support System (DSS) • A combination of data and analytical technique that allows a marketer to interactively collect, analyze, and interpret information • Example • credit card acceptance decision Week6: Marketing Research

  29. Marketing Decision Support System (DSS) • MkIS • collect • storage • ANALYSIS • retrieval • disseminate Marketing Manager Information need Decision oriented inf. DSS • Data • primary • secondary Week6: Marketing Research

  30. Marketing Databases • Where data are organized, stored, and updated in a computer Week6: Marketing Research

  31. Marketing Databases • MkIS • collect • STORAGE • analysis • retrieval • disseminate Marketing Manager Information need Decision oriented inf. Database • Data • primary • secondary Week6: Marketing Research

  32. Case 1: V8 • Situational factors? • Research objectives? • What marketing research methods were used? Week6: Marketing Research

  33. Case 1: V8 • Situation • Decreasing sales • Need for developing a new marketing campaign • Objectives • Developing a commercial • Is the new commercial effective? Week6: Marketing Research

  34. Case 1: V8 • In-depth interview • product related experience • feeling • benefit sought • Develop Ad messages • Create the original Ad Week6: Marketing Research

  35. Case 1: V8 • Advertising effect experiment • Choice of products out of brands in the booklet • Watching a TV programs and a number of commercials including V8 • Choice of products out of brands in the booklet • The difference of two choices indicates how effective the commercial is Week6: Marketing Research

  36. Case 1: V8 • Content analysis • Too many messages • Need theme • Revision of the commercial • simpler, clearer message • A second experiment • increased choice after watching revised V8 commercial Week6: Marketing Research

  37. Case 2: AT&T • Situation • In 1983, customer could switch 800 service provider while keeping their numbers • Competitors’ aggressive marketing actions to attract AT&T’s customers are anticipated • AT&T, the market leader at that time, needed to develop a preemptive strategies Week6: Marketing Research

  38. Case 2: AT&T • Focus group interview • Role playing for the generation of competitors’ possible strategies • Personal interview • sample: 3,200 business executives • question on how AT&T will prepare for the future competition Week6: Marketing Research

  39. Case 2: AT&T • Brainstorming for the generation of main message • Create 22 ads • the reliability of AT&T • Record responses to commercials of AT&T and competitors • showing commercials in executives’ office Week6: Marketing Research

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