Overseas mkt research 2
-
Upload
studsplanetcom -
Category
Documents
-
view
188 -
download
0
description
Transcript of Overseas mkt research 2
The Market Research Process
1. Defining the problem and objectives
2. Developing the research plan
3. Collecting the information
4. Analysing the information
5. Presenting the findings
Steps
Comments
Distinguish between the research type needed e.g.
- exploratory
- descriptive
- causal
Decide on
- budget
- data sources
- research approaches
- research instruments
- sampling plan
- contact methods
Information is collected according to the plan ( it is often done by external firms)
Statistical manipulation of the data collected (e.g. regression) or subjective analysis of focus groups
Overall conclusions to be presented rather than overwhelming statistical methodologies
If a problem is vaguely defined, the results can have little bearing on the key issues
The plan needs to be decided upfront but flexible enough to incorporate changes/ iterations
This phase is the most costly and the most liable to error
Significant difference in type of analysis according to whether market research is quantitative or qualitative
Can take various forms:
- oral presentation
- written conclusions supported by analysis
- data tables
Stages in Research Process
Designing the Research Project
Research design An overall plan for obtaining the information
needed to address a research problem or issue
Hypothesis An informed guess or assumption about a certain
problem or set of circumstances Accepted or rejected hypotheses act as conclusions
for the research effort
6
Determining the Research TechniqueSelection of the research technique
depends on a variety of factors:The objectivity of the data sought must be
determined. Unstructured data will require more open-ended questions and more time than structured data.
Whether the data should be collected in the real world or in a controlled environment.
Whether to collect historical facts or information about future developments.
The Marketing Research Process
Collecting DataTypes of data
Primary data: data observed and recorded or collected directly from respondents
Secondary data: data complied both inside and outside the organization for some purpose other than the current investigation
Methods for Developing Primary Data
DataQualitative?
Quantitative?
Focus Groups
ObservationInterviews
Panels
Surveys
Experiments
Methods of Collecting Primary Data
Sampling Population—all the elements, units, or individuals of
interest to researchers for specific study Sample—a limited number of units chosen to
represent the characteristics of a total population
Types of sampling Probability—each element has an known chance for study Random—each element has an equal chance for study Stratified—study population divided into like groups Quota: population is grouped and elements are arbitrarily
chosen
Basic Survey MethodsMail surveyTelephone surveyOnline surveyPersonal interview survey
In-home (door-to-door) interview Focus-group interview Telephone depth interview Shopping mall intercept interviews On-site computer interviews
Observation (for Data Collection) MethodsDirect contact with subject is avoided to reduce possible
awareness of observation process.Physical conditions, subject actions, and demographics are
noted.Data gathered may be influenced by observer bias.
ExperimentationA research method that attempts to maintain (control) certain
variables while measuring the effects of experimental (uncontrolled) variables
Delphi studies : Delphi studies are a means for aggregating the judgements of a number of experts who cannot come together physically.
-The Delphi technique is particularly valuable because it uses mail, fax, or electronic communication to bridge large distances and therefore makes experts accessible at a reasonable cost.
External Market Research FirmsTypes Description
1. Syndicated - service research firms
Data gathered periodically from customers and distribution channels and then sold to clients (e.g. A.C. Nielson)
2. Custom market research firms Hired to carry out specific research projects for clients. The firm conducts the survey and the results are the property of one client only (e.g. Research International)
3. Specialty line research firms Firms providing a specialised service to other market research firms, e.g. a firm selling field interviewing services
Questionnaire Construction
Open-ended question Question which invites the respondent to answer as
their own interests or personal subjectivity dictates
Dichotomous question Question which to which the respondent can make
only an either/or or yes/no response
Multiple-choice question Question asks the respondent to choose a response
from a fixed set of responses
Interpreting Research FindingsStatistical Interpretation
Analysis of survey data to determine what is typical or what deviates from the average that indicates: How widely the responses vary How the responses are distributed Which hypotheses are supported Which hypotheses are rejected
Interpreting Research FindingsReporting Research Findings
Take an objective look at survey findings Report deficiencies and reasons for
deficienciesPrepare a formal, written document
Summary and recommendations Short, clear, and simply expressed for executives
Technical report Contains more detailed information about research
methods and procedures and important data gathered
Benefits of Marketing Research
Helps firms stay in touch with customers’ changing attitudes and purchase patterns
Assists in better understanding market opportunities
Determines the feasibility of a particular marketing strategy
Aids in the development of marketing mixes to match the needs of customers
Improves marketer’s ability to make decisions