Market Research
Chapter 9
What is Market Research? “The process of
planning, collecting, and analyzing data relevant to a marketing decision.”
Decision support system
Why is marketing research important?
Concerns Respondent knowledge Respondent honesty Respondent actions
Source: http://www.era-az.com/xeber/market_research.png
The Marketing Research ProcessDefine the Problem
Plan the Design & Collect Primary Data
Specify the Sampling Procedure
Collect the Data
Analyze the Data
Prepare & Present the Report
Follow Up
Step 1: Define the Problem Marketing research problem
Set the research objectives
Step 2: Plan the Design & Gather Primary Data
Research Design Primary Data
Pros: Cons:
Secondary Data Pros: Cons:
Step 2: Plan the Design & Gather Primary Data
Types of Primary Research Survey research
In-home personal interviews
Mall-intercept Telephone interviews Mail surveys Executive interviews Focus groups
Source: http://www.sesrc.wsu.edu
Step 2: Plan the Design & Gather Primary Data
Types of Primary Research Survey research (cont’d)
Questionnaire Design Open-ended Close-ended Scaled-response
Likert scale Semantic differential scale
Errors Leading questions Ambiguous question Unanswerable question 2-1 question Nonexhaustive question Nonmutually exclusive answers
Step 2: Plan the Design & Gather Primary Data
Types of Primary Research Observation
research Mystery shopper Behavioral targeting
Ethnographic research
Virtual shopping Experiments
Source: http://yoursecretshopper.com
Information Overload What is it? Information technology
Databases Sensitivity analysis Data Mining
Extraction of hidden predictive information from large databases
Links between the two actions or products
Step 3: Specify the Sampling Procedure
Population v. sample
Types of sampling procedures Probability sampling
Random sample Nonprobability sampling
Convenience sample
Step 4: Collecting the Data & Step 5: Analyzing the Data
Collecting the Data In-house Hire a company
Analyze the data Statistical software
SPSS
Step 6: Prepare & Present Results
Step 7: Follow Up Prepare & Present
Formal report Recommendations
Follow Up Additional research
Other Research Internet research
Advantages
Scanner-based research
Competitive Intelligence (CI) Source: http://students.egfi-k12.org
Sales Forecasting Market or industry potential Sales or company forecast
Sales Forecasting How to Forecast
Top-Down Forecast Buildup Forecast
Sales Forecasting Techniques
Judgment of Decision Maker Direct Forecast Lost-horse forecast
Sales Forecasts Techniques Knowledgeable groups
Survey of Buyers’ Intentions Forecast Salesforce Survey Forecast Jury of Executive Opinion Forecast Survey of Experts
Sales Forecasting Techniques
Statistical Methods Trend extrapolation
Look at past results
Top Related