Principles of Marketing L4 Dr. Norman Peng Sr. Lecturer in Marketing Market Research and IS
Aug 09, 2015
Teaching objectives
• Last week, we discussed consumer behaviour• This week, we will cover market and
marketing research– Introducing market/marketing research – Introducing primary and secondary research – Some characteristics of different research
methods– MIS
Market Research and IS
There is a need to distinguish between Marketing Research and Market Research:
• Marketing research refers to all the activities
necessary to bring a product to the consumer
• Market research refers to 'ad hoc' research carried out
to identify a specific characteristic about a market or
product
Market Research and IS
The purpose of research
• Explore, describe, generalise, and predict
• But before we going into primary research, we need to make sure we are not reinventing the wheel!– The importance of desk research – also known as secondary data research
Market Research and IS
Secondary source: Mintel
Market Research and IS
Mintel: http://academic.mintel.com/sinatra/oxygen_academic/my_reports/
Secondary research (desk research)
Data collected and analysed mainly sitting at a desk• Internal sources• External sources
Data being examined originally collected for some other purpose
Advantages:
• Cheap and quick
• Defining the scope for a field study
• Provides a preliminary view about the market, competition, etc
• Compare with fieldwork results
Secondary Research
Market Research and IS
• Availability
• Relevance
• Accuracy
• Sufficiency
• Examples
Disadvantages:
Secondary Research….
Market Research and IS
Primary research
• After secondary research, we know it is not enough…
• Typical flow – A plan pilot test main research analysis and
interpretation report writing and presentation
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Exploratory and Descriptive
• Purposes: to see the questions are worth further research
• Common methods– Story about ethnography
Market Research and IS
Exploratory and Descriptive
• Sudhir Venkatesh – Gang Leader for a Day: A
Rogue Sociologist Takes to the Streets
Market Research and IS
Exploratory and Descriptive
• Sampling and data gathering method
• Characteristics of the data gathered
• Afterwards: generate propositions/hypotheses to be further research
Market Research and IS
Generalise and predictive
• Purposes: to verify the research’s hypothesis • Common methods• Sampling and data gathering method
Market Research and IS
Generalise and predictive
• Results gathered– Pilot test’s importance
• Results analysis: SPSS
• Afterwards: go back to qualitative research
Market Research and IS
Ethical issues
• Effects on the participants – Underage, minority, vulnerable group – Intrusions on privacy
• Researcher’s own behaviour
Market Research and IS
(In)famous Experiments
• Milgram experiment (1961-63)– Social psychology professor Stanley Milgram (Yale)– Purpose – Expect: 3% would go all the way (450 Volt)– Actual result from 40 participants?
Market Research and IS
(In)famous Experiments
– Teacher-student memory test • Please continue. • The experiment requires that you continue. • It is absolutely essential that you continue. • You have no other choice, you must go on.
Market Research and IS
(In)famous Experiments
• Stanford Prisoner experiment (1971)– Psychology professor Philip Zimbardo
• 24 participants + himself • 14 days to study abusive behaviour in prison
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Definition
• Definition- – A system which marketing information is formally
gathered, stored, analysed and distributed to managers in accord with their informational needs on a regular basis
• Difference between data and information
Market Research and IS
Sources of data and information
• In-house– Advantages (e.g., tailored)– Disadvantages (e.g., economic of scale)
• Outsource – Advantages (e.g., convenient)– Disadvantages (e.g., privacy)
Market Research and IS
MIS in application
• TV viewing – Viewership – TV watching pattern
• Retail – Heat/motion sensor
• E-business – Click-through rate, navigation pattern
Market Research and IS
Next week
• Lecture– Segmentation, positioning, and managing
products and brands (ch.8,9,10)• Seminar
– Group formulation – Mock test
Market Research and IS