Market Research - University of Rio Grande & Rio Grande
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Transcript Market Research - University of Rio Grande & Rio Grande
Market Research
Chapter 9
What is Market Research?
“The process of planning,
collecting, and analyzing
data relevant to a
marketing decision.”
Decision support system
Why is marketing
research important?
Concerns
Respondent knowledge
Respondent honesty
Respondent actions
Source: http://www.era-az.com/xeber/market_research.png
The Marketing Research Process
Define the Problem
Plan the Design & Collect Primary Data
Specify the Sampling Procedure
Collect the Data
Analyze the Data
Prepare & Present the Report
Follow Up
Step 1: Define the Problem
Marketing research problem
Set the research objectives
Step 2: Plan the Design & Gather
Primary Data
Research Design
Primary Data
Pros:
Cons:
Secondary Data
Pros:
Cons:
Step 2: Plan the Design & Gather
Primary Data
Types of Primary
Research
Survey research
In-home personal
interviews
Mall-intercept
Telephone interviews
Mail surveys
Executive interviews
Focus groups
Source: http://www.sesrc.wsu.edu
Step 2: Plan the Design & Gather
Primary Data
Types of Primary Research
Survey research (cont’d)
Questionnaire Design
Open-ended
Close-ended
Scaled-response
Likert scale
Semantic differential scale
Errors
Leading questions
Ambiguous question
Unanswerable question
2-1 question
Nonexhaustive question
Nonmutually exclusive answers
Step 2: Plan the Design & Gather
Primary Data
Types of Primary
Research
Observation research
Source: http://yoursecretshopper.com
Mystery shopper
Behavioral targeting
Ethnographic research
Virtual shopping
Experiments
Information Overload
What is it?
Information technology
Databases
Sensitivity analysis
Data Mining
Extraction of hidden predictive information from
large databases
Links between the two actions or products
Step 3: Specify the Sampling
Procedure
Population v. sample
Types of sampling procedures
Probability sampling
Random sample
Nonprobability sampling
Convenience sample
Step 4: Collecting the Data &
Step 5: Analyzing the Data
Collecting the Data
In-house
Hire a company
Analyze the data
Statistical software
SPSS
Step 6: Prepare & Present Results
Step 7: Follow Up
Prepare & Present
Formal report
Recommendations
Follow Up
Additional research
Other Research
Internet research
Advantages
Scanner-based
research
Competitive
Intelligence (CI)
Source: http://students.egfi-k12.org
Sales Forecasting
Market or industry potential
Sales or company forecast
Sales Forecasting
How to Forecast
Top-Down Forecast
Buildup Forecast
Sales Forecasting Techniques
Judgment of Decision Maker
Direct Forecast
Lost-horse forecast
Sales Forecasts Techniques
Knowledgeable groups
Survey of Buyers’ Intentions Forecast
Salesforce Survey Forecast
Jury of Executive Opinion Forecast
Survey of Experts
Sales Forecasting Techniques
Statistical Methods
Trend extrapolation
Look at past results