Marketing Research

Marketing Research

1. Marketing Information

   • Everyday info about developments in the marketing environment that managers use to prepare and adjust marketing plans.

2. Decision Support System (DSS)

   • Interactive, flexible, computerized info system that enables managers to obtain and manipulate info as they are making decisions.

3. Database Marketing

   • Fastest growing use of DSS. It is the creation of a large computerized file of customers' and potential customers' profiles and purchase patterns.
     • FIELD SERVICE FIRM: Specializes in interviewing respondents on a subcontracted basis
       • Consumer-generated media (CGM): media that consumers generate and share by themselves
         • COMPETITIVE INTELLIGENCE (CI): Helps managers assess their competitors and their vendors in order to become more efficient and effective competitors

4. Definition

   • Process of planning, collecting, and analyzing data relevant to a marketing decision.
   • Objective
     • Provide insightful decision-making info.

5. STEPS IN A MARKETING RESEARCH PROJECT

   • 1. Identify & formulate the problem/opportunity
     • 2. Plan the research design & gather secondary data.
       • 3. Specify sampling procedures.
         • 4. Collect primary data.
           • 5. Analyze the data.
             • 6. Prepare & present the report.
               • 7. Follow up
       • SECONDARY DATA: Data previously obtained for any purpose other than the one at hand.
         • PRIMARY DATA; Info collected for the 1st time, used for solving the particular problem under investigation.
     • MARKETING RESEARCH PROBLEM: Involves determining what info is needed and how it can be obtained efficiently & effectively.
       • MANAGMENT DECISION PROBLEM: Broad-based problem that uses marketing research in order for managers to take proper actions.
         • MARKETING RESEARCH AGGREGATOR: Company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms.
       • RESEARCH DESIGN: Specifies which research questions must be answered, and how the data will be gathered and analyzed.
         • CROSS TABULATION: Lets the analyst look at responses to one question in relation to the responses to one or more other questions.

6. TYPES OF SAMPLES

   • Sample
     • Probability sample
       • Random sample
         • Non probability sample
           • Convenience sample
             • non probability sample using respondents who are convenient or accessible to researcher
           • little or no attempt is made to get a representative cross section of population
         • every element in population has equal chance of being selected.
       • sample in which every element in population has a known likelihood of being selected
     • Subset from a larger population

7. TYPES OF RESEACH

   • Survey Research
     • mall intercept- interview
       • computer assisted personal interview
         • computer assisted self interview
           • executive interview
             • focus group
               • observation research
                 • mystery shopping
                   • ethnographic research
                     • behavioral targeting (BT)
                       • experiment
                         • researcher alters one or more variables while observing effects of those alterations on another variable
                       • consumers online activity combined with demographic and psychographic profiles.
                     • Study of human behavior
                   • researching posing as customers gathering observational data about a store
                 • depends on watching what people do
               • 7-10 people participating in a discussion led by a moderator
             • Interviewing business people at their office
           • Respondents answer themselves on a screen.
         • Interviewer reads questions to the interviewed and answers on a screen
       • interview within the mall
     • researcher interacts with people to obtain primary data.

8. TYPES OF ERRORS

   • Measurement error
     • Sampling error
       • Frame error
         • Random error
           • when sample is an imperfect representation of the overall population
         • sample drawn from a population differs from the target population
       • When sample doesnt represent the population
     • Differences in meassurement