Transcript Marketing Research Webxam Review PowerPoint

Defining Marketing Research
marketing
research
The process and
methods used to
gather
information,
analyze it, and
report findings
related to
marketing goods
and services.
Marketing research X involves the process and
methods used to gather information, analyze it, and
report findings related to marketing goods and
services. Marketing research is most often used by
companies to:
• Determine consumers’ attitudes and preferences
• Test product features
• Determine market size and growth potential
• Learn about competitive products
• Determine buying cycles
• Understand how the company is perceived by the
public
Marketing Essentials Chapter 28, Section 28.1
Why Is Marketing Research Important?
• A great deal of time and money are spent
on marketing research before a new
product or service is launched, but
marketing research continues throughout
the life of a product or service
• It is essential for businesses to understand
factors which affect the purchasing of their
product or service.
Why Is Marketing Research
Important?
The information obtained from research helps
businesses increase sales and profits. Research
answers questions about:
• What products to produce
• At what price to sell them
• Who will buy the products
• How the products will be promoted
Research also helps solve marketing problems and
gauge the potential of new ideas.
Marketing Essentials Chapter 28, Section 28.1
Who Uses Marketing Research?
Small businesses usually rely on their owners,
managers, employees, or hired assistants to do their
research.
Larger companies have in-house research
departments to plan and conduct studies.
Trade associations conduct and use research.
Nonprofit organizations use customer surveys to get
feedback.
Marketing Essentials Chapter 28, Section 28.1
Marketing Information Systems
marketing
information
system
A set of
procedures and
methods that
regularly
generates, stores,
analyzes, and
distributes
information for
use in making
marketing and
other business
decisions.
A marketing information system X is a set of
procedures and methods that regularly generates,
stores, analyzes, and distributes information for use
in making marketing and other business decisions.
Marketing Essentials Chapter 28, Section 28.1
Marketing Information Systems
Data that should be part of a marketing information
system include:
• Customer profile data
• Company records
• Competitors’ records
• Government data
• Marketing research reports that are produced and
sold by research firms
Marketing Essentials Chapter 28, Section 28.1
Database Marketing
database
marketing
A process of
designing, creating,
and managing
customer lists that
contain information
about an
individual’s
characteristics and
transactions with a
business; also
known as customer
relationship
management
(CRM).
database
A collection of
related information
about a specific
topic.
Database marketing X, or customer
relationship management (CRM), is the process
of designing, creating, and managing customer
lists. Once a list is developed, it can be used for
locating, selecting, and targeting customers
with special programs and services.
A database X is a collection of related
information about a specific topic. Information
about consumers and their buying habits is
stored in computer databases.
Supermarket rewards cards are an
example of database marketing.
Marketing Essentials Chapter 28, Section 28.1
Database Marketing – Rewards
Cards
• Supermarket rewards cards are an example of
database marketing.
• Information collected – household demographics
, lifestyle, purchase behavior.
• Did you know the supermarket was collecting
this information when you signed up for the
card?
• Does knowing your purchases are being tracked
make you more or less likely to use the card?
Types of Marketing Research
quantitative
research
A type of research
that answers
questions that
start with “how
many” or “how
much.”
qualitative
research
A type of research
that focuses on
smaller numbers
of people (usually
fewer than 100)
and tries to
answer “why” or
“how” questions.
Quantitative research X answers questions that
start with “how many” or “how much.” It gathers
information from large numbers of people, often
using surveys or questionnaires.
Qualitative research X focuses on smaller
numbers of people and focuses on trying to
answer questions about “why” or “how.” This type
of research relies heavily on in-depth interviews.
Most marketing research efforts combine both
quantitative and qualitative methods.
Marketing Essentials Chapter 28, Section 28.2
Attitude Research
attitude
research
A type of
research
designed to
obtain
information on
how people feel
about certain
products,
services,
companies, or
ideas; also
known as opinion
research.
Attitude research X, also known as opinion
research, is designed to obtain information on how
people feel about certain products, services,
companies, or ideas.
Customers are usually asked to rate “how
satisfied” they are with a product or service they
purchased or used. Consumer panels, also called
focus groups, are groups of people who are
questioned to provide information.
Marketing Essentials Chapter 28, Section 28.2
Attitude Research Example
attitude
research
A type of
research
designed to
obtain
information on
how people feel
about certain
products,
services,
companies, or
ideas; also
known as opinion
research.
Red Lobster’s POS system
randomly selects tables to
take a guest satisfaction
survey (GSS). On the
customer’s check a 1-800 is
given to allow the customer
to call within 48 hours.
Reports are sent monthly to
in each individual Red
Lobster.
Marketing Essentials Chapter 28, Section 28.2
Market Intelligence
market
intelligence
Information
about the size
and location of a
market, the
competition, and
the segmentation
within the
market for a
particular
product or
service.
Market intelligence X is concerned with:
• The size and location of a market
• The competition
• The segmentation within the market for a
particular product or service
Market intelligence helps define potential target
markets for a particular product or service and
how to reach potential customers.
Marketing Essentials Chapter 28, Section 28.2
Market Intelligence
Sales forecasting is an attempt to estimate
the future sales of an existing product.
The share that is assigned to a business is
called its market share or sales penetration of
the market. Based on its findings, the
business can try to increase its market share
through changes in the product, pricing,
promotion, or distribution strategies.
The goal of market share and segmentation
studies is to investigate the potential markets
for new products and to define characteristics
of the target market.
Marketing Essentials Chapter 28, Section 28.2
Market Intelligence
Economic forecasting is an attempt to predict the
future economic conditions of a city, region,
country, or other part of the world. Several federal
agencies collect information on key economic
indicators, such as:
• New building construction
• Inflation rates
• Money supply
• Consumer and producer price indexes
This research helps to determine whether to cut
costs when unfavorable economic conditions are
predicted.
Marketing Essentials Chapter 28, Section 28.2
Market Intelligence Research
Example
Sales forecasting is an attempt to
estimate the future sales of an
existing product.
The share that is assigned to a
business is called its market share or
sales penetration of the market.
Based on its findings, the business
can try to increase its market share
through changes in the product,
pricing, promotion, or distribution
strategies.
Marketing Essentials Chapter 28, Section 28.2
Media Research
media
research
A type of
research
focusing on the
issues of media
effectiveness,
selection,
frequency, and
ratings; also
known as
advertising
research.
Media research X, also known as advertising
research, focuses on issues of media effectiveness,
selection, frequency, and ratings. Media research
studies:
• Brand awareness
• Advertising recall
• Brand image
• Effectiveness of advertising copy
• Audience size for a particular type of
advertising
Marketing Essentials Chapter 28, Section 28.2
Media Research
Important statistics for media measurement
include:
• Audience – the number of homes or people
exposed to the advertising medium
• Frequency – the number of times a person sees
or hears an ad
• Reach – the percentage of the target audience
that will see or hear an ad at least once
• Ratings – the total number of audience
impressions delivered over a set period of time
Marketing Essentials Chapter 28, Section 28.2
Media Research
To obtain these measures, businesses often
request information from the media of interest to
them. In most cases, the information includes a
rate card listing the:
• Advertising costs
• Circulation or viewership figures
• Deadline dates
• Other requirements for submission of an
advertisement
Marketing Essentials Chapter 28, Section 28.2
Media Research
To determine the effectiveness of printed media,
readers are asked about the extent to which they
noticed the ad, remembered it, and associated it
with the advertised brand.
Readership in print media is measured by surveys
or estimated by circulation.
Marketing Essentials Chapter 28, Section 28.2
Activity
• We are going to view ten advertisements
from magazines or newspapers for
approximately 5 seconds each. Study
them carefully.
Activity
• Write down the subject of as many ads as
you can remember.
• Try and recall key details, such as
illustrations, colors, slogans, etc.
• Which stuck in your minds and why?
• Were you more likely to remember a brand
name or type of product?
Media Research Example
What we just did is considered a form
of media research.
To determine the effectiveness of
printed media, readers are asked
about the extent to which they
noticed the ad, remembered it, and
associated it with the advertised
brand.
Readership in print media is
measured by surveys or estimated by
circulation.
Marketing Essentials Chapter 28, Section 28.2
Product Research
product
research
The evaluation of
product design,
package design,
product usage,
and consumer
acceptance of
new and existing
products.
Product research X centers on evaluating:
• Product design
• Package design
• Product usage
• Consumer acceptance of new and existing
products
Product research is also conducted to collect
information about competitive products.
Marketing Essentials Chapter 28, Section 28.2
Product Research Example
Concept testing, product positioning,
and pricing studies are frequently
done with focus groups to get initial
consumer reactions to a product or
service idea.
Marketing Essentials Chapter 28, Section 28.2
The Marketing Research Process
The five steps that a business follows when
conducting marketing research are:
1.
Defining the problem
2.
Obtaining data
3.
Analyzing the data
4.
Recommending solutions
5.
Applying the results
Marketing Essentials Chapter 29, Section 29.1
Step 1 – Define the Problem
• The problem or research issue is identified
and goals are set to solve the problem.
Step 2: Obtaining Data
primary data
Data obtained for
the first time and
used specifically
for the particular
problem or issue
under study.
The word data means facts. There are two types of
data used in marketing research:
• Primary data X are facts obtained for the first
time and used specifically for the particular
problem or issue under study.
secondary
data
Data that has
already been
collected for
some purpose
other than the
current study.
• Secondary data X have already been collected for
some purpose other than the current study. They
are less expensive to collect than primary data.
There are many ways secondary data can be
obtained from both internal sources (within the
company) and external sources.
Marketing Essentials Chapter 29, Section 29.1
How Secondary Data Are Obtained
Secondary data are most often collected in the
following ways:
1.
The Internet
2.
U.S. and state government sources
3.
Specialized research companies
4.
Business publications and trade
organizations
Marketing Essentials Chapter 29, Section 29.1
Secondary Data
There are two major disadvantages to secondary
data:
• The existing data may not be suitable for the
problem under study.
• The data may sometimes be outdated and/or
inaccurate.
Marketing Essentials Chapter 29, Section 29.1
How Primary Data Are Obtained
survey
method
A research
technique in
which
information is
gathered from
people through
the use of
surveys or
questionnaires.
sample
A part of the
target population
that is assumed
to represent the
entire
population.
Primary research data can be collected using three
methods:
1.
The survey method
2.
The observation method
3.
The experimental method
The survey method X is a research technique in
which information is gathered from people
through the use of surveys or questionnaires. It
is the most frequently used method of collecting
primary data.
A sample X is a part of the target population that
represents it accurately.
Marketing Essentials Chapter 29, Section 29.1
How Primary Data Are Obtained
1. Survey research can be conducted in person, by
phone, by mail, or by using the Internet. When the
marketer has decided how to conduct the survey, he
or she then writes the questions according to the
specific needs of that survey type.
Personal interviews can be done in focus groups,
door-to-door, or randomly in central locations.
Marketing Essentials Chapter 29, Section 29.1
How Primary Data Are Obtained
observation
method
A research
technique in
which the actions
of people are
watched and
recorded either
by cameras or by
observers.
The 2. observation method is a research
technique in which the actions of people are
watched and recorded either by cameras or by
observers.
A mystery shopper is a researcher who poses as
a customer. The mystery shopper observes the
interactions between customers and salespeople
to evaluate the effectiveness of sales staff.
One disadvantage of the observation method
is that it cannot measure attitudes or motivation.
Two advantages of the observation method
are that it is faster than personal interviews,
and people are unaware that they are being
observed, so they act as they normally would
Marketing Essentials Chapter 29, Section 29.1
How Primary Data Are Obtained
experimental
method
A research
technique in
which a
researcher
observes the
results of
changing one or
more marketing
variables while
keeping certain
other variables
constant under
controlled
conditions.
The 3. experimental method is a technique in
which a researcher observes the results of changing
one or more marketing variables while keeping
others constant under controlled conditions. It is not
used frequently because of the cost of setting up the
research conditions and the inaccuracy of the
responses.
Marketing Essentials Chapter 29, Section 29.1
Step 3: Analyzing the Data
data analysis
The process of
compiling,
analyzing, and
interpreting the
results of
primary and
secondary data
collection.
Data analysis X is the process of compiling,
analyzing, and interpreting the results of primary and
secondary data collection.
Data mining is a computer process that uses
statistical methods to extract new information from
large amounts of data.
Marketing Essentials Chapter 29, Section 29.1
Step 4: Recommending Solutions to
the Problem
Solution recommendations must be clear and wellsupported by the research data. A typical research report
includes the following:
• Title page
• Acknowledgments of people who assisted
• Table of contents
• List of tables, figures, charts, and graphs
• Introduction
• Review of the research information
• Procedures used
• Findings
• Recommendations
• Summary and conclusions
• Appendixes
• Bibliography
Marketing Essentials Chapter 29, Section 29.1
Step 5: Applying the Results
Managers use the research report to make decisions
about marketing strategies to address the researched
problem or issue.
After the research is completed and changes are
made, a business should carefully monitor the results
to know if the actions are successful.
Marketing Essentials Chapter 29, Section 29.1
Constructing the Questionnaire
validity
When questions
asked on a
questionnaire
measure what
was intended to
be asked.
reliability
When a research
technique
produces nearly
identical results
in repeated trials.
A questionnaire has validity X when the questions
asked measure what was intended to be measured.
Reliability X exists when a research technique
produces nearly identical results in repeated trials.
It requires that the questions ask for the same
type of information from all respondents.
To be valid and reliable, a questionnaire must be
properly:
• Written
• Formatted
• Administered
Marketing Essentials Chapter 29, Section 29.2
Writing Questions
open-ended
questions
Questions that
require
respondents to
construct their
own answers.
forced-choice
questions
Questions that
ask respondents
to choose
answers from
possibilities given
on a
questionnaire.
Open-ended questions X ask respondents to
construct their own response to a question.
Forced-choice questions X ask respondents to
choose answers from possibilities on a
questionnaire.
Yes/No questions should be used only when asking
for a response on one issue, for example, “Was our
facility well maintained?” Having a question that
asks about more than one issue decreases validity
and reliability.
Marketing Essentials Chapter 29, Section 29.2
Writing Questions
Multiple-choice questions give the respondent
several choices. When constructing these, it is
important to make the options mutually exclusive
and comprehensive enough to include every
possible response.
Offering the choice of “other” increases reliability.
Marketing Essentials Chapter 29, Section 29.2
Writing Questions
Other forced-choice questions may ask
respondents to rate a product or service based
upon a scale.
Level of agreement questions make statements
and ask respondents for their level of agreement.
Commonly used options include strongly agree,
agree, neutral, disagree, and strongly disagree.
Marketing Essentials Chapter 29, Section 29.2
Basic Guidelines for Writing
Questions
• Each question should be clearly written and as
brief as possible.
• Use consistent ranking scales for all similar
questions.
• Avoid leading questions and introducing biases.
• Do not use questions that make your
respondent guess.
Marketing Essentials Chapter 29, Section 29.2
Formatting
You should use dark ink on light paper and type
that is easy to read. The questionnaire should be
short enough that the respondent does not grow
frustrated or tired while answering.
Be sure to put section headings or numbers on all
individual survey sections as well as numbers for
each question.
Marketing Essentials Chapter 29, Section 29.2
Formatting
Page numbers are essential to
make sure your respondent does
not get lost within the survey.
Marketing Essentials Chapter 29, Section 29.2
Formatting
General demographic questions about gender, age,
ethnicity, and education are typically grouped
together at the end of the survey. That is because
respondents are more likely to answer personal
questions after completing the other questions.
Marketing Essentials Chapter 29, Section 29.2
Administering the Questionnaire
A plan must be established for selecting
participants in an unbiased way. Be sure to explain
the survey’s purpose either in person or on the
questionnaire.
Many questionnaires offer incentives to encourage
people to participate.
Marketing Essentials Chapter 29, Section 29.2
Constructing the Questionnaire
validity
When questions
asked on a
questionnaire
measure what
was intended to
be asked.
reliability
When a research
technique
produces nearly
identical results
in repeated trials.
A questionnaire has validity X when the questions
asked measure what was intended to be measured.
Reliability X exists when a research technique
produces nearly identical results in repeated trials.
It requires that the questions ask for the same
type of information from all respondents.
To be valid and reliable, a questionnaire must be
properly:
• Written
• Formatted
• Administered
Marketing Essentials Chapter 29, Section 29.2