MARKETING RESEARCH I

MKT525

Linda F. Alwitt

What is marketing research?

Links consumer, customer and public to the marketer through information

Provides information necessary for marketing management decision-making process

THE PURPOSE OF MARKETING RESEARCH IS TO REDUCE RISK FOR MARKETING DECISION MAKERS.

Defining Some Terms

Variable Independent variable Dependent variable Data vs. information

Marketing Decision Making

Identifying opportunities and constraints Developing and implementing marketing

plans Evaluating effectiveness of marketing plans

Decision-making and Research Role

Decision Stage

1. Recognize decision situation

2. Define decision problem

3. ID courses of action

4. Evaluate courses of action

5.Select course of action

Research Role

1.Alert decision makers to trends.

2.Help formulate issues.

3.Broaden alternative set.

4.Key role for marketing research.

5.Researcher interprets results to direct course of action.

Case

A marketing manager responsible for CD-ROM-based video games for PCs has received a copy of 10 new books on this industry and 5 new industry reports prepared by industry consultants. The items total over 3000 pages. “All this data will be great help with the new games we are planning”, noted the analyst who delivered the documents to the manager.

Is there a problem with this scenario?

How should the manager proceed?

Decision situations

Problems and opportunities Alternative potential courses of action Routine and non-routine decisions When research is NOT needed

Define Research Problem and Objectives

Determine symptoms, possible causes, alternative courses of action

Establish role of research in selecting a course of action

What information is needed to solve the problem?

Research Designs

Exploratory Descriptive Causal Performance-monitoring

Rough guide to research approaches (after Wade, Marketing Research)

Unknownmarkets

Knownmarkets

Unknownproducts/services

Exploratoryresearch

Prescriptiveresearch;causalresearch

Knownproducts/services

Descriptiveresearch;causal rsch.

Track trends;causalresearch

Data collection procedure depends on type of research:

Secondary source Qualitative Quantitative

Researching BackwardsResearching Backwards

How will the research results be used? What should the final report look like? What analyses are needed to ‘fill in the blanks’? What data is needed to carry out the analyses? Is the data available, and how have others solved similar

research problems? (Scan secondary data) Design instruments and sampling plan. Carry out field work. Do analyses, write report, watch it have intended effect.

(Andreasen, 1985)

Practicalities of researcher-manager relationship

No surprises Only as much technology as appropriate Keep manager involved Actionable and practical implications

Research Proposal

State marketing management problem/ opportunity/decision to be made:

background, issues, questions of concern Specify research objectives:what questons must

be asked to address management issues? Detail proposed research approach-sources,

data collection method, sampling, cost, timetable