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MKTG1100 Chapter 4

Marketing research involves defining problems, developing research plans to collect information, analyzing the data, presenting findings, and making decisions. The research process includes defining the problem and objectives, creating a plan with appropriate data sources and instruments like questionnaires, collecting the information, analyzing it, presenting findings, and making a decision. Good marketing research is objective, relevant, accurate, timely, actionable, and follows ethical standards. It is measured using marketing metrics, marketing-mix modeling to understand the effects of activities, and dashboards with interconnected performance indicators.

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71 views28 pages

MKTG1100 Chapter 4

Marketing research involves defining problems, developing research plans to collect information, analyzing the data, presenting findings, and making decisions. The research process includes defining the problem and objectives, creating a plan with appropriate data sources and instruments like questionnaires, collecting the information, analyzing it, presenting findings, and making a decision. Good marketing research is objective, relevant, accurate, timely, actionable, and follows ethical standards. It is measured using marketing metrics, marketing-mix modeling to understand the effects of activities, and dashboards with interconnected performance indicators.

Uploaded by

Marcus Yap
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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—

Marketing Management
Chapter 4
Conducting Market Research

MKTG1100 and MKTG1390

1
Learning Objectives

• What is the scope of marketing research?


• What steps are involved in conducting good marketing
research?
• What are the best metrics for measuring marketing
productivity?

2
The Scope of marketing
research
• American Marketing Association
– Marketing research is the function that links the consumer,
customer, and public to the marketer through information—
information used to identify and define marketing opportunities and
problems; generate, refine, and evaluate marketing actions;
monitor marketing performance; and improve understanding of
marketing as a process.

3
The Scope of marketing
research
• Importance of marketing insights
– Generating insights (how and why we observe certain effects in the
marketplace)

4
The Scope of marketing
research
• Who Does Marketing Research?
– Marketing departments in big firms
• Everyone at small firms
• Syndicated-service research firms
• Custom marketing research firms
• Specialty-line marketing research firms

5
Research conducted at
small companies
Engage
students/pro
fessors
Tap
employee Use Internet
creativity

Tap partner Check out


expertise rivals

6
The Scope of marketing
research
• Overcoming Barriers to the
Use of Marketing Research
– Many companies still fail to use
it sufficiently or correctly

7
Figure 4.1
The Marketing Research Process

8
Step 1: Define the problem

• Define the problem


• Define the decision alternatives
• Define the research objectives

9
Step 2: Develop the Research Plan

• Data sources
– Secondary data vs. primary data

10
Step 2: Develop the Research Plan

• Research approaches
– Observational research
• Focus group research
• Survey research
• Behavioral research

11
Step 2: Develop the Research Plan

• Research instruments

Questionnaires

Qualitative measures

Technological devices

12
Questionnaire

13
Questionnaire

14
Qualitative measures

ZMET Word
approach association

Projective
Laddering techniques

Brand
Visualization
personification

15
Step 2: Develop the
Research Plan
• Technological devices
– Galvanometer
– Tachistoscope
– Eye-tracking
– Facial detection
– Skin sensors
– Brain wave scanners
– Audiometer
– GPS

16
Step 2: Develop the
Research Plan
• Sampling plan
• Sampling unit: Whom should we survey?
• Sample size: How many people should we survey?
• Sampling procedure: How should we choose the
respondents?

17
Step 2: Develop the
Research Plan
• Contact methods
• Mail
• Telephone
• Personal
• Online

18
Online Research
• Advantages • Disadvantages
• Inexpensive • Small
• Expansive • Skewed
• Fast • Excessive turnover
• Honest • Technological
• Thoughtful problems
• Versatile • Technological
inconsistencies

19
Step 3 to Step 6

Step 3: Collect the Information

Step 4: Analyze the Information

Step 5: Present the Findings

Step 6: Make the Decision

20
Table 4.2
Good Marketing Research

21
Measuring Marketing
Productivity
• Marketing metrics
• Marketing-mix modeling
• Marketing dashboards

22
Marketing metrics
• Measures that help marketers quantify, compare, and
interpret performance

23
Marketing-Mix Modeling
• Analyzes data from a variety of sources, such as retailer
scanner data, company shipment data, pricing, media, and
promotion spending data, to understand more precisely the
effects of specific marketing activities

24
Marketing Dashboards

“A concise set of interconnected performance drivers to


be viewed in common throughout the organization.”
• Customer-performance scorecard
• Stakeholder-performance scorecard

25
Table 4.4

26
Figure 4.3
Example Of A Marketing Dashboard

27
End!

28

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