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14 Cards in this Set

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Market Research
Procedures to develop and analyze new information to help make marketing decisions.
Scientific method-hypotheses.
Handled internally or outsourced.
Marketing Information System (MIS)
Organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions.
Decision Support System (DSS)
A computer program that makes it easy for marketing managers to make up to date decisions using a search engine and marketing dashboard.
Key: easy access to the data you want and need.
Marketing Research Process:
1. Define the problem
2. Analyzing the situation
3. Problem specific data
4. Interpreting the data
5. Solve the problem
Marketing Research Process:
Define the Problem
Departures from expected-why didnt it work out how we though it would.
Evidence of opportunities
Assumptions-why did this happen
Marketing Research Process:
Analyze the Situation
Research questions; hypotheses
Research design
Secondary data
Secondary Data
Data you dont pay for but can adapt to fit your problem.
Includes: Internal records, Governmental statistics, Trade associations, and syndicated services
Marketing Research Process:
Problem Specific Data
Primary Data
Primary Data:
Qualitative
Focus groups-6-10 people, 1-2 hours, Leader/moderator, group interaction, subjective analysis, videotaping, virtual focus groups.
Observations-dont contaminate the data.
Primary Data:
Quantitative
Surveys-Mail, telephone, online, personal(door to door, depth interview, onsite computer interviews).
Consumer panels
Experiments
Primary Data:
Surveys-sampling
Population-total group you are interested in.
Sample-subset of the population you are looking at.
Response rate-% of sample who actually respond.
Marketing Research Process:
Interpreting data
1. Checking and Editing-ensure questions are fair.
2. Coding-break down responses and find commonalities.
3. Data Analysis-dispersion of data, statistical analysis, Hypotheses supported or rejected.
4. Confidence intervals-arange where you can say that the true value is in that range.
5. Reliability-consistency of results. Validity-did you measure what you set out to measure.
International Marketing Research
Standardize as much as possible to compare between countries.
Allow for differences in research design based on culture.
Understand the culture to modify your methods and adapt.
Benefits of Marketing Research
1. Stay in touch with customers' changing attitudes and purchase patterns.
2. Understand marketing opportunities.
3. Feasibility of a particular marketing strategy.
4. Developing marketing mixes.