Transcript Slide 1 - BYU Marriott School

Marketing Research
Marketing Research
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Marketing Research
Why do marketing research?
• discover needs in the market
• discover who the target market is
• learn about the target market
• how is the purchase decision made
• get inside the head of the target market
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Marketing Research
The Efficiency of Marketing Research
Cost-Benefit Logic
• marketing research efforts must produce
more benefit than they cost
• many firms do very little marketing
research
• marketing research can be fairly simple
and straightforward (inexpensive)
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Marketing Research
A Research Process
1 – Preliminary Investigation
2 – Creating the Research Design
3 – Conducting the Investigation
4 – Processing the data
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Marketing Research
A word about bias:
• bias can render marketing research useless
• bias concerns should be addressed at each
stage in the process
• internal biases
• biases in the respondents
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Marketing Research
Preliminary Investigation
Establishing the Purpose and Scope
Identifying the problem
• new product (customer vs. product focus)
• existing product
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Marketing Research
Preliminary Investigation
Informal Assessment
• unstructured search of the environment
• no ‘blinders’
• builds on problem identification
• interviews (internal & external)
End Result: Research Questions to be Answered
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Marketing Research
Research Design
Six Steps in the Design Process
1 – Choosing an approach
2 – Data type
3 – Data sources
4 – Data collection
5 – Sample selection
6 – Planning results
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Marketing Research
Research Design Approaches
Experimental Design
• establish a ‘set’ of the variable treatments
• these are choices for the subjects
• subjects must have equal chance of being
assigned to a particular treatment
• subjects must be homogeneous relative
to the characteristics of interest
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Marketing Research
Research Design Approaches
Experimental Design
• test for statistical differences between
the treatments
• if a there is a statistical difference, then
we can conclude there is a preference
This approach is expensive!
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Marketing Research
Research Design Approaches
Historical Approach
• learning from happened in the past
• statistical analysis may be useful
• correlations reveal patterns/trends
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Marketing Research
Research Design Approaches
Survey Approach
• researcher’s observations
• respondent’s opinions
• statistics may be useful
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Marketing Research
Types of Data
• facts – How much? When? Where?
• opinions – What do you think? Feel?
•
motivations – Why does the buyer behave
in a certain way?
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Marketing Research
Sources of Data
Primary Data
• comes from the original source
• first time collection
Secondary Data
• already gathered and available
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Marketing Research
Data Collection Method
Primary Data
• observation
• questionnaire
• self-report
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Marketing Research
Data Collection Method
A good questionnaire will:
• provide motivation to respond
• make it easy to respond
• will not lead the respondent
• avoid ‘social desirability’
• recognize ‘internal consistency’
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Marketing Research
Data Collection Method
Self-reporting
• focus groups
• ask people what they think
• projective techniques
• remove embarrassment
• word association, sentence completion,
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psychodrama
Marketing Research
Selecting the Sample
• sample from a population (segment)
• random and non-random samples
• if the statistical analysis to be used depends
on probability theory, use a random sample
• sample must accurately represent the target
market
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Marketing Research
Planning the Results
• What are we going to discover?
• set expectations
• be clear about what we can and can’t
learn from our design
• describes the statistical analysis that will
be done
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Marketing Research
Conduct the Research
• follow through on the plan
Process the Data
• method of analyzing the data must be
consistent with sampling and gathering
techniques
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Marketing Research
Marketing research:
• is a decision making tool
• should focus on feasible possibilities
• be cost effective
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