Class 6 Marketing Research

8/9/2019 Class 6 Marketing Research

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Marketing

Ajax Persaud Dhruv Grewal

Michael Levy Shirley Lichti

Chapter 5

Marketing Researchand InformationSystems

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Explain how marketers use information systems tocreate value for customers

Discuss ethical issues firms encounter whenconducting marketing research

Describe the necessary steps to conduct marketingresearch

Explain the differences between primary and

secondary data, and determine when should eachbe used

Explain the differences between exploratory andconclusive research

Chapter Objectives

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2007 McGraw-HillCompanies, Inc., McGraw-Hill/Irwin

Marketing Research

Consists of a set of techniques andprinciples for systematically collecting,

recoding, analyzing and interpreting data

that can aid decision makers involved in

marketing goods, services or ideas.

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Why Do Market Research?

Measure and forecast future demandfor your products and services

Realistic view of the coming year

Allocate needed resources (finite)

Make business changes proactivelyinstead of reactively

Leading edge versus bleeding edge

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Using Marketing Information Systems

to Create Better Value

Marketing Information

System (MIS) is a set of

procedures and methodsapplied to the regular,

planned collection,analysis, andpresentation of

information to be used inmarketing decisions.

Data warehouse?

Data mining?

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The Ethics of Using Customer Information

Code of Standards and Ethics for Survey Research

Bottom Line: Marketing research should be used onlyto produce unbiased, factual information.


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Why Is It Important To Keep The MarketResearch Data Real?

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The Marketing Research Process

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Step 1: Defining the Problemsand Objectives

What information is neededto answer specific research

questions?

How should thatinformation be

obtained?

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Problems and Objectives

What are some problems orobjectives that businesses may

need market research to help themsolve or achieve?

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Step 2: Designing the Research Project

Secondary data Primary data

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Determine Specific Information Needs

Target customer characteristics

Patterns of product use

Demand factors

Response of marketing channels

Customer reactions

Projected sales


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Advantages and Disadvantages ofSecondary and Primary Data

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Step 3: Data Collection Process

Conclusive research

Exploratory research

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Exploratory Versus ConclusiveData Collection

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Exploratory Methods

Focus group

Observation In-depth interview

Projective Technique

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How can a firm use exploratory research to uncoverconsumers attitudes toward their product/service?

Using Exploratory Research

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Case in Point: Kit Kat Bars

Challenge

Answer

Results

Kit Kat bars were losing appeal

among younger consumerswhile remaining popular withconsumers aged 25 -40.

Qualitative interviews were

conducted with youngerconsumers. New forms of Kit Katbars were sampled. The interviews

were followed with focus groups.

The introduction of the Kit Kat

chunky, a single large Kit Kat bar.


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Focus Group Activity

Form groups of 4-6 With bottled water as the topic, use the

suggested questions on the next slideto determine the feelings of your focusgroup about these products.

Be prepared to report what yourresearch has found.

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Focus Group Questions

Are you in favour of the sale of water inplastic bottles on campus?

Why? Why not?

Do you feel bottled water should bebanned or controlled?

What are some alternatives?

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Ethical Dilemma 9.1: WatchingConsumers

Marketing research firms dedicated to watchingconsumers.

Gather data that would not otherwise be available.

Should researchers get consent prior to observing?

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Conclusive Research Methods

Can be either:

Descriptive Experimental

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Survey Research

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What Not to Do When Designing a

Questionnaire


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Web Surveying

Response rates arerelatively high

Respondents may lie less

It is inexpensive

Results are processed

and received quickly

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Case in Point: Derham MarketingResearch, Ltd.

Challenge

Answer

Results

Derham Marketing Research Limited was

looking for a reliable means of writing,delivering and analyzing online surveys.

Partnering with Form Artist software thatallowed the firm to have internal control

over their online surveys.

Derham has saved money, kept costsdown, increased control. Quantifiable

benefits: saved on average 2 days atleast in project turnaround, and often up

to a week. Reporting can be the sameday, also saving up to a week. Electronicfiles saved paper and clarified the

reporting procedure. The capacity to copyand paste has saved further re-handling

and ensured accuracy of any informationcarried across to the clients' ownsystems.

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Using Experimental Research

How can firms use experimental research to improvevalue for customers and the firm?

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Case in Point: Its Beginning to Smell aLot Like Christmas


Challenge

Answer

Results

Retailers need to get shoppers

into the holiday spending mood.

Use an experiment to determine what

factors in the retail environmentcontribute to customers holidayspending mood.

Retailers who used holiday musicand holiday scents together wereviewed more favorably, themerchandise in the store was ratedhigher, and purchase intentionsincreased compared to retailers whoused either alone or non-congruent

music and scent.

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Scanner Research


Information Resources, Inc.

AC Nielsen

What if Ireduce my

price by10%?

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Panel Research


What are theybuying or not

buying?

Group of consumersSurvey or sales receipts


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Step 4: Analyzing Data


Converting data into information to explain, predict and/orevaluate a particular situation.

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Survey-Based Segments

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Brand Research

Attitudinal equity - Virgin Mobile

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Step 5: Presenting Results


Present important findings

Company ultimately mustdecide on correctinterpretation and how to

proceed

Assists decision-making(remember past failures)

Doing our best to measureand forecast demand!

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Some past research mistakes

MasterCard priceless campaign shouldnot run

The Seinfeld pilot got the lowest pre-testscores in NBC history

The Sony Walkman was predicted to fail

New Coke was predicted to succeed

The better the research the better yourchances of predicting success!

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Homework

Groups for Group Projectformed by June 1st

Individual Submission due

June 8th

Read Chapter 6

Class 6 Marketing Research

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