Transcript
CHAPTER 4
Conducting Marketing Research and forecasting demand.
Marketing Research
Marketing Research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organisation.
Define the problem and Research objective
Develop the research plan
Collect the information
Analyze the information
Present the findings
Make the decision
Step 1: define the problem, the decision alternatives, and the research objectives.
• Problem should not be defined too broadly or too narrowly.
• Should set up research objectives3 types of objectives Exploratory research Descriptive research Causal research
Step 2: develop the research plan
Develop plan for gathering of information Concerns:• Data sources• Research approaches• Research instruments• Sampling plan• Contact methods
Data sources• Secondary data• Primary data
Research approachesCollect primary data in 5 ways• Observation• Focus groups• Surveys• Behavioral data• experiments
Observational research• Gather fresh data by observing the relevant actors
and settings.• Unobtrusively observing as they shop or they
consume product.
Ethnographic ResearchA form of observational research that involves sending
trained observers to watch and interact with consumers in their ‘natural habitat’
Uses concepts and tools from anthropology and other social science disciplines to provide understanding of how people live and work.
Following baby-boomer, women rounded financial transactions because it was more convenient
Focus group ResearchA gathering of 6 to 10 people selected by researchers
based on certain demographic, psychographic considerations
Brought together to discuss various topics.
Survey research• Gathering primary data by asking people questions
about their knowledge, attitudes, preferences and buying behavior.
• Widely used for descriptive information
Experimental researchGathering primary data by selecting matched groups of
subjects , giving them different treatments, controlling related factors and checking for differences in group responses.
Test effects on sales of two different prices in 2 cities
Research Instruments1. Questionnaires2. Mechanical devices
Questionnaires • Most common instrument • Closed-end questions• Open-end questionsClosed-end questionsDichotomous questionsMultiple choiceLikert scale: agreementSemantic scale: bipolar
• Importance scale• Rating scale• Intention- to- buy scaleOpen end questionsCompletely unstructuredWord associationSentence completionStory completionPictureThematic apperception test (TAT)
InstrumentsMechanical device to monitor consumer behaviorPeople meters to television sets Check out scanners to record shopper’s purchasesAdvertisers use eye cameras to study viewers eye
movements
Sampling plan
Sample: a subgroup of elements of the population selected for participation in the study.
Sampling unit: who should be surveyed?Sample size: how many people should be surveyed?Sampling procedure: how should we choose the
respondents?
Sampling techniques
Non probability probability
convenience judgement quota
Simplerandom Stratified
randomCluster
Contact methods Mail questionnaire Telephone interview Personal interview Online interview
Step 3: collect the information
ConstraintsUnavailabilityBias
Step 4: Analyze the information
Extract finding by tabulating the data and developing frequency distributions.
Step 5: Present the findings
Translate data and information into insights and recommendations
Step 6: Make the decision.
Weigh the evidenceMay go according to research findingsMay proceed for further research
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