2. © 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin Marketing Management, 8e Chapter Two Marketing Information, Research, and Understanding the Target Market Key Words/ Outline Marketing research, Primary data, Secondary data, Observational research, Survey research, Experimental research, Mathematical modeling, Cardinal rule, Qualitative research, Quantities research, Test marketing

3. 2 - 3 Role of Market Research Market research aids decision making but does not substitute for it Often, research reports become the final answer to problems

4. 2 - 4 Role of Market Research

5. 2 - 5 Plan of the Research Three critical issues that influence research plan -Whether primary or secondary data are needed -Whether qualitative or quantitative data are needed -Whether the company would conduct its own research or contract with a marketing research specialist

6. 2 - 6 Research Plan Basics Primary versus Secondary data -Primary data: Data collected for the specific problem under investigation -Secondary data: Previously collected data which could be used for the problem in hand

7. 2 - 7 Research Plan Basics Qualitative vs. Quantitative Data -Qualitative: Face-to-face interviews like focus groups, observation, textual analysis and long interviews, without mathematical concern -Quantitative: Systematic procedures to obtain data like observational research, surveys, experiments and mathematical modeling

8. 2 - 8 Conducting Research A cardinal rule of collecting data: Obtain and record the maximal amount of useful data, subject to the constraints of time, money and respondent privacy Processing research data includes preparation of data for analysis and analysis

9. 2 - 9 Conducting Research Assess research results by identifying relationships among variables or differences between groups Prepare the research report by making it clear and unambiguous, with strategic recommendations

10. 2 - 10 Research Limitations Test market areas do not represent the full marketplace Sample size and design have been formulated incorrectly Pretest measurements of competitive brand sales have been not made or made inaccurately Test scores do not give complete support for the study

11. 2 - 11 Research Limitations Test market products are offered at unprofitable levels Researchers ignore factors that influence sales The test marketing ends before consumers repurchase the product

12. 2 - 12 Ethical Responsibilities Responsibility to respondents -Preserving respondent anonymity -Avoiding mental stress for respondents -Avoiding questions detrimental to respondents -Avoiding use of dangerous equipment or techniques -Avoiding deception of respondents -Avoiding coercion of respondents

13. 2 - 13 Ethical Responsibilities Responsibility to clients -Providing confidentiality -Providing technical integrity -Providing administrative integrity -Providing guidance on research usage

14. 2 - 14 Ethical Responsibilities Responsibility to employees -Creating ethical work environment -Avoiding opportunities for unethical behavior

15. 2 - 15 Marketing Information Systems (MIS) Database management software: For sorting and retrieving data Model base management software: For manipulating data Dialog system: Allows for exploration of data and produces information for decision making