1. Marketing Research in the Era of Big Data
CHAPTER 10
Marketing Research in the Era of Big Data

2. MARKETING RESEARCH FUNCTION
Focus on determining:
market potential
market share
market characteristics

3. Classification of market research companies
Syndicated services: give info to all customers
Full service suppliers: performs all research
Limited service suppliers: parts of research

4. MIS: Marketing Information Systems
MDSS (Marketing Decision Support System)
computer software that helps users obtain & use info to help make marketing decisions

5. 6 Steps in Marketing Research
1. PROBLEM DEFINITION
is it a symptom or a problem?
Ex. Our sales are down.
“Well Defined Problem is Half Solved”
2. EXPLORATORY RESEARCH
Investigate
3. FORMULATE HYPOTHESIS
tentative explanation for some event

6. 4. RESEARCH DESIGN 5. DATA COLLECTION
Master plan to get a direct test of the hypothesis
5. DATA COLLECTION
Secondary Data: less time and money but could be obsolete or irrelevant
Primary Data: detailed, exact, valid but costly and time consuming

7. How to Collect Primary Data
1. Observational method: watch people
2. Survey method
Telephone interviews: cheap & convenient
bias to people who have phones
Mail surveys: cost effective & anonymous but returns are very low
Fax surveys
Personal interviews: good method
most time consuming & expensive
mall intercepts good alternative

8. Focus group interviews
Computer interviews
faster gathering & analysis of data
respondents may be more truthful than face to face
very biased to computer users
Focus group interviews
8 to 12 people brought together to discuss a subject of interest

9. SAMPLING TECHNIQUES
one of the most important aspects of marketing research, if sample wrong - results will be wrong

10. CLASSIFICATION OF SAMPLES
1. Probability Sample
each member has an equal chance of being selected
2. Nonprobability Sample
arbitrary ones not subject to statistical tests
Quota Sample
Mall Intercept

11. 6. Interpretation and Presentation
clear, concise reports directed to management, not other researchers

12. SALES FORECASTING (Chapter 11) Covering this topic early
SALES FORECASTING (Chapter 11) Covering this topic early!! *2 broad categories of forecasting
QUALITATIVE FORECASTING
subjective sales forecasts - based on opinions not historical fact

13. 4. SURVEY OF BUYER INTENTIONS
1. JURY OF EXECUTIVE OPINION -combines & avg outlooks of top company executives
2. DELPHI TECHNIQUE
seeks opinion of experts outside the firm & used to predict long-term issues
3. SALESFORCE COMPOSITE
what do the salesforce believe (Bottom up approach)
4. SURVEY OF BUYER INTENTIONS
mail in questionaires, telephone polls, & personal interviews

14. QUANTITATIVE FORECASTING *More scientific approach
1. MARKET TESTS
gauge consumer responses to a new product
2. TREND ANALYSIS
analyze historical relationship btw sales & time
3. EXPONENTIAL SMOOTHING
more sophisticated trend analysis that assigns a weight factor to each year of sales data