principles of marketing- market information and research
TRANSCRIPT
8/3/2019 Principles of Marketing- Market Information and Research
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PRINCIPLES OF MARKETING
MARKETING INFORMATION AND RESEARCH
Prof. Rushen Chahal
Prof. Rushen Chahal1
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1. Defining market research1. Defining market research
Marketing research is the systematic design,
collection, analysis, and reporting of data relevant
to a specif ic marketing situation facing anorganization
Role of market research:- It is the function which
links the consumer, customer, and public to the
marketer or organization through information
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2. Types of marketing research2. Types of marketing research
Exploratory approach:-
To generate some preliminary information about theproblems before the actual research; usuallyobservation
Descriptive approach:-
Informative/descriptive way of addressing an issue,such as customer prof iling or behavior
Causal or predictive approach:-
To test a hypothesis of cause and effect relationship toget results, e.g. do beer give benefits to drinkers?
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3. Origins of research data3. Origins of research data
Data produced by research
i. Qualitative research:- the collection of data that
are open to interpretation or subjective opinions,e.g. peoples¶ thoughts, attitudes, emotions,
behavior, etc.
ii. Quantitative research:- the collection of datathat is measurable and analysed through data
crunching, e.g. sales figures, market share data,
etc.
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4. Marketing information systems (MIS)4. Marketing information systems (MIS)
MIS:- An effective system of organising,
structuring and managing the storage, access
and dissemination of market research data. Itconsists of:
Internal records
Market intelligence Market research
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4. Marketing information systems (MIS)4. Marketing information systems (MIS)
Internal records - information obtained inside the
company; from sales reps, call details, customer
enquiries, invoices, sales orders, etc
Marketing intelligence ± information from
anywhere; suppliers, partners, research agencies
Market research ± design research plan; trackingcustomers; f ield questions
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5. The marketing research process5. The marketing research process
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I. R esearch problems/objectives
II.Develop research planIII.Implement/collect data and analyze findings
IV.R eport the findings/analysis
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i. Research problems/objectivesi. Research problems/objectives
R esearch problem:- def ine the problem/s in the
organization with a statement,
e.g. Consumer traffic dropped in city A. This may
be due to the lack of product range? Will increasing the product range help increase traffic?
R esearch objectives:- what the research is
suppose to do,
e.g. to research on the effectiveness of increasing
product range in city A to increase traffic
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ii. Develop research planii. Develop research plan
I) Data Collection
Secondary data consists of information that
already exists somewhere, having been collectedfor other purposes
Primary data consists of information gathered
for a special purpose or problem, (usually
exploratory or f ield research)
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ii. Develop research planii. Develop research plan
Secondary data sources include:-
Government - e.g. Central Statistical Bureau
Trade associations ± public database, e.g. UK compuserve, tradenets
Commercial publications - e.g. Phone directory,Yellow pages, Mintel, etc.
Internet and press / magazines, etc.
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ii. Develop research planii. Develop research plan
Secondary research(desk research)data advantagesand
disadvantages:-
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Advantages: Fast and easy to
access
Low cost and
convenient Company can collect
any kinds of data on
its own
Disadvantages: Non available
Not relevant
Not accurate
Time lag
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ii. Develop research planii. Develop research plan
Primary data sources include:-
Where the required information does not already
exist, so company does a research
It is exactly tailored to a special problem of the
organization. (maybe qualitative or quantitative)
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ii. Develop research planii. Develop research plan
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Primary research (field research)
Observational research:- by observing and
recording relevant people, actions and situations
Consumer panels:- household provide
information of purchases and consumption of
products
Retail audit research:- investigate retail situation
such as stock levels and atmosphere
Home audit research:- check on household items
and dustbin
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ii. Develop research planii. Develop research plan
Primary researchdata advantagesanddisadvantages:-
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Advantages:
Direct contact with
interviewees
Company can collect
any type of data on
its own
Disadvantages:
Costly and takes
time
May need to f ind
market research
agencies
Not for long term
use
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ii. Develop research planii. Develop research plan
Primary research contact method includes:-
a. Telephone interview / survey
b. Personal interview / survey
c. Mail questionnaires / survey
d. Online marketing research / survey
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ii. Develop research planii. Develop research plan
a. Telephone interview / survey
Collects information quickly
Interviewers can explain diff icult questions
Higher response rates than mail questionnaires
Interviewers communicate directly with
respondents Costs higher than postal mail
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ii. Develop research planii. Develop research plan
b. Personal interview / survey
Individual (in-depth) interviewing
- Involves talking with people at home or theoff ice, on the street, or in shopping malls
- Structured (cannot probe) or unstructured
(can probe)
Group interviewing or focus group survey
- Involves 6 to 10 people to talk with a trained
moderator
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ii. Develop research planii. Develop research plan
c. Mail questionnaires / survey
Good and cheap exposure of information
Less bias with no interviewer present
Low response rate
Unsure of ³who are the targets´
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ii. Develop research planii. Develop research plan
d. Online marketing research / survey
Very low cost; Real-time fast results
Good for ³hard-to-reach´ groups Hard to control who¶s in the sample
Lack of facial interaction and truth
Security concerns
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ii. Develop research planii. Develop research plan
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II) Sampling:- is a segment of the population
selected for marketing research to represent the
population as a whole
a. Sample frame
b. Sample method
c. Sample size
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ii. Develop research planii. Develop research plan
a. Sample frame:- the location or place or object
used to f ind the respondents
b. Sample method:-
Probability : chance of being picked and focused- stratif ied
- systematic
- random
Non-probability : flexible to pick such as judgmentor quota
c. Sample Size:- number of respondents to be
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ii. Develop research planii. Develop research plan
III) R esearch Instruments:-
mechanical devices: to note the
movement of human senses
questionnaires: to gather information
from the data collection methods. Start with
general questions
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ii. Develop research planii. Develop research plan
Type of questions:-
Closed-end questions include all
possible and simple answers to
tabulate (count).
- Multiple Choice Questions
- Dichotomous questions
- Likert Scale
- Semantic Scale
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ii. Develop research planii. Develop research plan
Open-end questions allow
respondents to answer in their own
words; Used in qualitative research
- Word association
- Sentence completion
- Story completion
- Picture completion
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iii / iv. Implementiii / iv. Implement--Collect data and analyze findingsCollect data and analyze findings/ Prepare and present report/ Prepare and present report
iv. Conduct the research. Collect the data and analyze
the findings and conclusion
vi. Prepare and present the report (not too manynumbers)
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