The Nature of Marketing Research Marketing research is one of the principal tools for answering questions because it: –Links the consumer, customer, and public to the market through information used to identify and define marketing –Generates, refines, and evaluates marketing actions –Monitors marketing performance –Underlines the understanding of marketing as a process

Marketing Research Defined The systematic and objective process of generating information for aid in making marketing decisions

“It ain’t the things we don’t know that gets us in trouble. It’s the things we know that ain’t so.” Artemus Ward

Stage of development Stage of intuitive decision making Stage of sophistication Intuition-Centered Decision Making Research-Centered Decision Making Continuum of Marketing Research Sophistication

Research Departments Perform a Staff Function Clients Director of research Research analysts Cross-functional teams

Director of marketing research and sales forecasting Manager of sales research Forecast analysts Research analyst (project director) Research assistant (entry-level trainee) Medium-Sized Research Department

ManagersResearchers 1. Decision oriented1. Technique oriented 2. Intuitive2. Analytical 3. Managers like to confirm3. Researchers like to explore 4. Time orientation toward: a. project immediacy (“I need it now.”) b. results about future behavior (“what will sales be next year?”) 4. Time orientation toward: a. Project prolongment (“later when we have time for a complete study”) b. results about past behavior (“our trend has been...”) 5. Frugal (“keep the cost down”) 5. Not cost conscious (“you get what you pay for”) 6. Results orientation: a. managers do not like surprises--when they are surprised they tend to reject the results b. concern (“aren’t we number one yet?”) c. certainty (“is it or isn’t it?”) 6. Results orientation: a. researchers love surprises b. abstraction (“our exponential gain...”) c. probability (“may be”) 7. Proactive 7. Reactive

Top Management-Marketing Research Conflict Research responsibility Research personnel Budget Assignments Problem definition Research reporting Use of research

Research Supplier A commercial marketing research service that conducts marketing research activities for clients Syndicated service Standardized service Provides customized research

Considerations for Hiring Outside Suppliers Expertise Urgency of the decision Personnel resources Economic factors Objectivity Confidentiality Quality control

Top Ten things a client wants in a research company or department 1. Maintains client confidentiality 2. Is honest 3. Is punctual 4. Is flexible 5. Delivers against projects specifications 6. Provides high-quality output To understand what clients want form a research supplier or department. What Do Clients Want From a Research Department or Research Supplier?

7. Is responsive to the client’s needs 8. Has high quality-control standards 9. Is customer-orientated in interactions with client 10. Keeps the client informed throughout a project. Communication with Clients Every project should have a liaison person Before project begins, go over project objectives, methodology, and timing. Progress reports. To appreciate the importance and role of communications in managing marketing research. What Do Clients Want From a Research Department or Research Supplier?

From Data to Action: Putting the Voice of the Customer to Work Source: AMA Best Practice Webcasts Sponsored by: Maritz Webcast Date: January 27, 2005 Time: 57 minutes Presenter: Dr. Randall Brandt, VP-Customer Experience and Loyalty Research, Maritz Click here for free webcast Click here for free webcast (you’ll need to register on the AMA site; introduces many topics covered in this course)