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Marketing Research Aaker, Kumar, Day Eighth Edition Instructor’s Presentation Slides Marketing Research 8th Edition Aaker,kumar, Day Chapter Two Marketing Research in Practice Marketing Research 8th Edition Aaker,kumar, Day Marketing Research in Practice Programmatic Research Develops market options through market segmentation, market opportunity analysis, or consumer attitude and product usage studies Selective Research Tests different decision alternatives such as new product testing, advertising copy testing, pre-test marketing, and test marketing Evaluative Research Evaluation of performance of programs Marketing Research 8th Edition Aaker,kumar, Day Information System A continuing and interacting structure of people, equipment, and procedures, designed to gather, sort, analyze, evaluate, and distribute pertinent, timely, and accurate information to decision makers. Marketing Research 8th Edition Aaker,kumar, Day Databases Contain 3 types of information: 1st type: Recurring day-to-day information 2nd type: Intelligence relevant to the future strategy of the business 3rd type: Research studies that are not of a recurring nature Marketing Research 8th Edition Aaker,kumar, Day Decision Support Systems (DSS) DSS models are developed and adapted to support each firms own decision problems Used to retrieve data, transform it into usable information, and disseminate it to users Allow managers to interact directly with database To retrieve information Provides a modeling function to help interpret information retrieved Marketing Research 8th Edition Aaker,kumar, Day Use of Information Systems (IS) in Marketing Research IS emphasizes that market research should part of systematic and continuous effort to improve decision-making process Marketing research used to close gaps in data bank revealed by use of models and IS Marketing Research 8th Edition Aaker,kumar, Day Marketing Decision Support System Combines marketing data from diverse sources into a single database, enabling product managers, sales planners, market researchers, financial analysts, and production schedulers to share information. Marketing Research 8th Edition Aaker,kumar, Day Marketing Decision Support Systems Cont.. Managers’ needs for decision relevant information: Routine comparisons of current performance against past trends on each of the key measures of effectiveness Periodic exception reports to assess which sales territories or accounts have not matched previous years’ purchases Special analyses to evaluate the sales impact of particular marketing programs, and to predict what would happen if changes were made Marketing Research 8th Edition Aaker,kumar, Day Marketing Decision Support Systems Cont.. Characteristics of MDSS: Interactive Flexible Discovery oriented User friendly Marketing Research 8th Edition Aaker,kumar, Day Marketing Decision Support Systems Cont.. Four components of MDSS: Database Reports and Displays Analysis capabilities Models Marketing Research 8th Edition Aaker,kumar, Day Gaining Insight from a MDSS Manager Modeling Display Analysis Database Environment Marketing Research 8th Edition Aaker,kumar, Day Suppliers of Information Corporate or in-house marketing research department External suppliers Marketing Research 8th Edition Aaker,kumar, Day Participants in Marketing Research Activities Information Users • General management • Planning • Marketing and sales managers • Product managers • Lawyers Information Suppliers: Inside Company Information Suppliers: Outside Company • Marketing research department • Research consultants • Sales analysis group • Marketing research suppliers • Accounting department • Advertising agencies • Corporate strategic planning Marketing Research 8th Edition Aaker,kumar, Day Information suppliers and services Information Supplier Corporate Inhouse Supplier Structured (Independent Department Customized Services External Supplier Unstructured (one or more MR employees) Standardized Services Field Services Syndicated Services Branded Product/Services Selective Services Marketing Research 8th Edition Aaker,kumar, Day Factors Influencing Choice of Information Supplier Internal personnel may not have skills or experience Outside help may be called to boost internal capacity in response to urgent deadline Often it is cheaper to go outside Marketing Research 8th Edition Aaker,kumar, Day Factors Influencing Choice of Information Supplier (Contd.) Outside suppliers may have special facilities or competencies which would be costly to duplicate for a single study Political considerations Increased credibility of research used in litigation or in proceedings before regulatory or legislative bodies Marketing Research 8th Edition Aaker,kumar, Day Type and Nature of Services Customized Work with individual clients Syndicated Routinely collect information on several different issues and provide it to firms that subscribe to their services (e.g.,Nielsen television index) Standardized Projects conducted in standard, prespecified manner and supplied to several different clients. (e.g., Starch readership surveys) Marketing Research 8th Edition Aaker,kumar, Day Type and Nature of Services (Contd.) Field Suppliers concentrate only on collecting data for research projects Selective Specialize in just one or two aspects of marketing research, mainly concerning data coding data, editing or data analysis Branded products / services Develop specialized data collection and analyses procedures to address specific of research problems that they market as branded products Marketing Research 8th Edition Aaker,kumar, Day Criteria For Selecting External Suppliers Steps in deciding if supplier can deliver promised data, advice, or conclusions: 1. 2. 3. 4. A thorough search for companies with an expertise in the area of study Selection of a small number of bidders on basis of recommendations of colleagues or others with similar needs Personal interviews with potential project leaders, asking for examples of previous work, their procedures for working with clients, and they should provide references Check of references on each potential supplier, with special attention on expertise, creativity, and quality and adequacy of resources available Marketing Research 8th Edition Aaker,kumar, Day International Marketing Research Definition International Marketing Research can be defined as marketing research conducted to aid in making decisions in more than one country Function Provides a systematic, planned approach to the research process Ensures all aspects of the research project are consistent with each other Marketing Research 8th Edition Aaker,kumar, Day International Market Research Industry Percentage of Worldwide Market Research Expenditure Per Country United States 39% Japan 10% Western Europe 40% Rest of World 11% Marketing Research 8th Edition Aaker,kumar, Day Career Opportunities in Marketing Research Marketing Research Analyst Marketing Information manager Project manager Director of Market Research Research Account manager Research Analyst Methodologist Marketing Research 8th Edition Aaker,kumar, Day