BMGT 205: Principles of Marketing

Chapter 10: Marketing Research

Marketing Research

http://demographics.coopercenter.

org/DotMap/index.html

The Marketing Research Process

Defining the objectives and research needs

Designing the research

Data collection process

Analyzing data and developing insights

Action plan and implementation

Step 1: Defining Objectives and Research Needs

What information is needed to answer specific research

questions?

How should that information be obtained?

Step 2: Designing the Research

Type of data Type of research

Step 3: Data Collection Process

Secondary data Primary data

Step 4: Analyzing Data and Developing Insights

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

Data Visualization Examples

Data Visualization Examples

Data Visualization Examples

Step 5: Action Plan and Implementation

Executive Summary

Body

Conclusions

Limitations

Supplements including tables, figures, appendices

CHECK YOURSELF

1. What are the steps in the marketing research process? 2. What is the difference between data and information?

External Secondary Data: Free

External Secondary Data: Cost

Syndicated Data

Scanner ResearchPanel Research

Internal Secondary Data

Data Warehouse

Data Mining

CHECK YOURSELF

1. What is the difference between internal and external secondary research?

Qualitative versus QuantitativeData Collection Techniques

Data collection research

Qualitative research

Observation In-Depth interviews

Focus groupsSocial media

Quantitative research

Experiments Survey

ScannerPanel

CHECK YOURSELF

1. What are the types of qualitative research?

1. What are the types of quantitative research?

Advantages and Disadvantages of Secondary and Primary Data

Type Examples Advantages Disadvantages

Secondary Research

Primary Research

❑Census data ❑Sales invoices ❑Internet information ❑Books ❑Journal articles ❑Syndicated data

❑Saves time in collecting data because they are readily available

❑Free or inexpensive (except for syndicated data)

❑May not be precisely relevant to information needs

❑Information may not be timely

❑Sources may not be original, and therefore usefulness is an issue

❑Methodologies for

❑Observed consumer behavior

❑Focus group interviews ❑Surveys ❑Experiments

❑Specific to the immediate ❑data needs and topic at

hand ❑Offers behavioral insights ❑generally not available from ❑secondary research

❑Costly ❑Time consuming ❑Requires more

sophisticated ❑training and experience to

design ❑study and collect data

Key Terms

• Data are raw numbers or other factual information that, on their own, have limited value to marketers.

• Experimental research is a type of quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on another variable.

• Marketing research consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.

Key Terms

• Panel research is a type of quantitative research that involves collecting information from a group of consumers (the panel) over time.

• Scanner research is a type of quantitative research that uses data obtained from scanner readings of UPC codes at check-out counters.

• A survey is a systematic means of collecting information from people that generally uses a questionnaire.

• Syndicated data are data available for a fee from commercial research firms such as Information Resources Inc. (IRI), National Purchase Diary Panel, and ACNielsen.