SEM II : Marketing Research 1.06 Collect secondary marketing data to ensure accuracy and adequacy of information for decision making

Why collect information from customers? To learn which products sell best in certain locations. Then, to make these products available in these locations where customers are most willing and able to buy them.

Why collect marketing information from other sources? To find out what is happening in the external environment. To know about the - economy - legal/political situations - trends External Collection sources: Government agencies Trade organizations Consumer reports

Collecting Information Marketing information can be collected in various ways: Primary research You collect it May include surveys that can be mailed, posted on the Internet, conducted on the phone, or carried out in person by intercepting people at sporting events Secondary research Others have collected it Obtaining and using data previously collected for another reason Examining the content of written materials (e.g., financial statements, ticket sales numbers, newspaper articles, etc.)

Research Designs Exploratory research Descriptive research Used when the problem is not well-defined Answers questions such as, “Why are ticket sales down?” Descriptive research Often used to determine characteristics of the target market Answers, “who, what, where, when, and how often” questions Causal research Explores the relationship between two variables Answers questions such as, “Does increased advertising result in more ticket sales?”

Steps for Conducting Consumer Research 1. Define the focus of the research (your research objectives) What types of information need to be gathered? What questions need to be answered? 2. Define which type of research design will be used. Exploratory Used when the problem is not defined Descriptive Used to gather information regarding a target market Causal Used to demonstrate the cause and effect relationship http://www.census.gov/aboutus/

Steps for Conducting Consumer Research (continued) 3. Collect data. Primary data Secondary data How to obtain feedback? Personal observation Focus groups Questionnaires

Steps for Conducting Consumer Research (continued) 4. Determine sample. Group of people representative of the population. Helps make generalizations about a group of consumers. 5. Administer the survey 6. Analyze and interpret the results.

Steps for Conducting Consumer Research (continued) 7. Recommend solutions by creating a Marketing Report. Report the findings from the survey. An effective report answers specific research questions. A marketing report should include: Title page Acknowledgements Contents Introduction Supporting charts, tables and graphs Review of information

Steps for Conducting Consumer Research Marketing Report (continued) Data collection procedures used. Which research methods did you use? What types of primary & secondary data were collected? Describe the types of questions you asked. Provide a profile of people surveyed. Findings Limitations (time constraints, sampling bias, finances) Recommendations Conclusions Appendix copies of questionnaires Interview forms Other technical documents Bibliography 8. Implement Solutions