Marketing Chapter 4-Market Research

Front 1

The Marketing Research Process

Back 1

1. Problem Definition
2. Research Design
3. Exploratory Research
4. Additional Research Required
5. Confirmatory Research
6. Interpret and report results

Front 2

Research Process

Back 2

The Research Process is an interrelated sequence of steps that make up a research project

Front 3

Problem Definition

Back 3

Justify needs for research, define objective, identify data needs and sources

Front 4

Considerations of Research

Back 4

Usefulness of results, management attitudes, resources available, costs v benefits

Front 5

Usefulness of results

Back 5

The extent to which findings are likely to reduce uncertainty or provide relevant information

Front 6

Critical step of determining research objective

Back 6

Establish project purpose by communication between decision maker and researcher

Front 7

Avoiding mistakes in problem definition

Back 7

Accurate definition of a project's purpose and effective communication

Front 8

Types of data

Back 8

Primary (originated from researcher)
Secondary (collected for other purpose but useful for resource process)

Front 9

Research Proposal

Back 9

Essential for choosing appropriate research design. Serves as blueprint for the execution of the product

Front 10

Research Design

Back 10

An outline of what data will be gathered, which sources will be used, and how the data will be collected and analyzed.

Front 11

Exploratory and Confirmatory Research

Back 11

Exploratory- obtain better understanding of issue. Good to get initial understanding of issue

Confirmatory- Verify insights through objective methods, used to select appropriate course of action

Front 12

Types of Research

Back 12

Exploratory, Confirmatory, Descriptive, Casual

Front 13

Casual and Descriptive Research

Back 13

Casual- Research in which it is assumed X influences Y

Descriptive- Conducted to clarify the characteristics of certain phenomena to solve a particular problem

Front 14

Qualitative Methods

Back 14

Focus Groups, depth interviews, project techniques, observation, casual analysis

Front 15

Interviews

Back 15

1 on 1, good for sensitive topics

Front 16

Focus Groups

Back 16

8-12 people, moderator, 1 person domination, group mentality, influence of moderator

Front 17

Sampling

Back 17

Qualitative- small group, subjectively selected to maximize insights,

Quantitative- large group, objectively chosen to permit generalizations

Front 18

External Researchers

Back 18

Farm out research to large firm, 75% of research money spent this way,

Front 19

Factors to consider when hiring external researchers

Back 19

Credibility (trustworthyness of findings), competence (special capability or facilities), Cost (some cases can be cheaper to hire external firm), capacity (expand capacity of internal researchers to reach findings urgently)

Front 20

Data and Information

Back 20

Data-facts or stats obtained from inside or outside company

Information- Data that has been analyzed and put into useful forms

Front 21

Data Analysis

Back 21

Transforms materials into usable form, so insights can be developed. Involves data sorting, stats, and models

Front 22

Global marketing research

Back 22

Challenging, not easy to locate secondary data abroad, translation difficult, becoming more and prevalent

Front 23

Ethics

Back 23

Marketing research can reflect biases of marketer, scientific method can help, people out there who work to eliminate this a not provide distorted message to consumers