Transcript The Marketing Research Process

Marketing Research
Aaker, Kumar, Day
Ninth Edition
Instructor’s Presentation Slides
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Chapter Three
The Marketing Research Process
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Overview of Marketing Research Process
MR Process Evolves From Answers to Five Key Questions:
 Why should we do research?
 What research should be done?
 Is it worth doing the research?
 How should the research be designed to achieve the
research objectives?
 What will we do with the research?
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Marketing Research Process
MARKETING PLANNING AND INFORMATION SYSTEM
Planning system
Information system
• Strategic plans
• Databases
• Tactical plans
• DSS
1. AGREE ON RESEARCH PROCESS
• Problems or opportunities
• Decision alternatives
• Research users
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Marketing Research Process (cont.)
2. ESTABLISH RESEARCH OBJECTIVES
• Research questions
• Hypotheses
• Boundaries of study
NO
Estimate the value
of information
Is benefit > cost?
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Do not conduct
marketing research
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Marketing Research Process (cont.)
Is benefit > cost
YES
4. DESIGN THE RESEARCH
• Choose among alternative research approaches
• Specify the sampling plan
• Design the experiment
• Design the questionnaire
5. COLLECT THE DATA
6. PREPARE AND ANALYZE THE DATA
7. REPORT THE RESEARCH RESULTS AND PROVIDE STRATEGIC
RECOMMENDATIONS
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The Marketing Research Process
Step 1- Research Purpose
 Problem or opportunity analysis
 Which problems or opportunities are anticipated?
 What is the scope of the problems and the possible reasons?
 Evaluation of decision alternatives
 What are the alternatives being studied?
 What are the criteria for choosing among the alternatives?
 What is the timing or importance of the decision?
 Research users
 Who are the decision makers?
 Are there any covert purposes?
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Problem or Opportunity Analysis
 What Do Today’s Buyers Want?
Today’s Buyers are:
 Skeptical
 Cautious
 Tired of selling and sales pressure
 Busy
 Confused
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The Marketing Research Process
Step 2 - Research Objective
 A statement of what information is needed
 Research objective should be framed to ensure
information obtained will satisfy research purpose
Components of research
objectives:
• Research Question
• Hypothesis Development
• Research Boundaries
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Research Question

Asks what specific information is required to achieve
the research purpose
Sample questions to determine if a specific
advertisement should be run:
• Will the advertisement be noticed?
• Will it be interpreted accurately?
• Will it influence attitudes?
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Hypothesis Development
A hypothesis is a possible answer to a research question.
 Generating a hypothesis
 Draw on previous research efforts
 Borrow from other disciplines such as:




Psychology
Sociology
Marketing
Economics
 Manager’s experience with related problems, coupled with
knowledge and the use of judgment
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Hypothesis Development (cont.)
Source
• Theory
• Management experience
• Exploratory research
Research
Purpose
Research
Question
Hypothesis
Research
Design
Research
Objective
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The Marketing Research Process
Step 3 - Estimating the Value of Information
 Value depends on:
 Importance of decision
 Uncertainty that surrounds it
 Influence of research information on the decision
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Illustrative Decision Models
Success
$ 4 million
Introduce
Failure
$ 1 million
Case A
Do not introduce
$0
Success
$ 4 million
Introduce
-$ 2.5 million
Case B
Failure
Do not introduce
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$0
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The International Marketing Research
Process
 Marketing research process is consistent for both domestic and
international markets
 Variety of market environments affect international marketing
research process
Major Environmental Forces Influencing International Marketing
Research Process
 Economic Environment
 Social-cultural Environment
 Political and Legal Environment
 Technological, Multimedia and Infrastructural Facilities
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The International Marketing Research Process
 To avoid mistakes:
 Profile your target customers and clients
 Interview target segments to assess how well they match your
preconceived ideas
 Hire local researchers
 Use a variety of methods (Qualitative and quantitative methods)
to get a well-rounded picture
 Look at the findings and analyze what must be done differently,
abroad or internationally, in comparison with current domestic
marketing activities
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Framing Research Questions in an
International Environment
 Possible questions:
 Do opportunities exist for entry into foreign markets?
 Which foreign markets warrant detailed investigation?
 What are the major economic, political, legal, and other
environmental facts in each potential country?
 What mode of entry does the company plan to adopt?
 What is the market potential in these countries?
 Who are the firm’s present and potential customers?
 What is the nature of competition in the foreign market?
 What kind of marketing strategy should the firm adopt?
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