MARKETING RESEARCH I MKT525 Linda F. Alwitt
What is marketing research? 4 Links consumer, customer and public to the marketer through information 4 Provides information necessary for marketing management decision-making process THE PURPOSE OF MARKETING RESEARCH IS TO REDUCE RISK FOR MARKETING DECISION MAKERS.
Defining Some Terms 4 Variable 4 Independent variable 4 Dependent variable 4 Data vs. information
Marketing Decision Making 4 Identifying opportunities and constraints 4 Developing and implementing marketing plans 4 Evaluating effectiveness of marketing plans
Decision-making and Research Role Decision Stage 1. Recognize decision situation 2. Define decision problem 3. ID courses of action 4. Evaluate courses of action 5.Select course of action Research Role 1.Alert decision makers to trends. 2.Help formulate issues. 3.Broaden alternative set. 4.Key role for marketing research. 5.Researcher interprets results to direct course of action.
Case A marketing manager responsible for CD-ROM-based video games for PCs has received a copy of 10 new books on this industry and 5 new industry reports prepared by industry consultants. The items total over 3000 pages. “All this data will be great help with the new games we are planning”, noted the analyst who delivered the documents to the manager. Is there a problem with this scenario? How should the manager proceed?
Decision situations 4 Problems and opportunities 4 Alternative potential courses of action 4 Routine and non-routine decisions 4 When research is NOT needed
Define Research Problem and Objectives 4 Determine symptoms, possible causes, alternative courses of action 4 Establish role of research in selecting a course of action 4 What information is needed to solve the problem?
Research Designs 4 Exploratory 4 Descriptive 4 Causal 4 Performance-monitoring
Rough guide to research approaches (after Wade, Marketing Research)
Data collection procedure depends on type of research: 4 Secondary source 4 Qualitative 4 Quantitative
Researching Backwards 4 How will the research results be used? 4 What should the final report look like? 4 What analyses are needed to ‘fill in the blanks’? 4 What data is needed to carry out the analyses? 4 Is the data available, and how have others solved similar research problems? (Scan secondary data) 4 Design instruments and sampling plan. 4 Carry out field work. 4 Do analyses, write report, watch it have intended effect. (Andreasen, 1985)
Practicalities of researcher-manager relationship 4 No surprises 4 Only as much technology as appropriate 4 Keep manager involved 4 Actionable and practical implications
Research Proposal 4 State marketing management problem/ opportunity/decision to be made: background, issues, questions of concern 4 Specify research objectives:what questons must be asked to address management issues? 4 Detail proposed research approach-sources, data collection method, sampling, cost, timetable