marketing research op 08
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Marketing Research
Hillary Jenkins, Otago Polytechnic 2008
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DefinitionDefinition
• The systematic and objective search for information
relevant to the identification and solution of any
problem in the field of marketing
• Key words
– Systematic and objective
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What is it?What is it?
• Consists of activities that enable an organization
to obtain the information it needs to make
decisions about its:
– Environment
– Marketing Mix
– Present or potential customers
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ObjectivesObjectives
• Identify markets
• Characteristics of markets
• Market trends
• Market changes
• Market opportunities/threats
• Effectiveness of marketing activities
• Analysis of competition
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MethodsMethods
SWOT analysis
Strengths
Weaknesses
Opportunities
Threats
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MethodsMethods
• Secondary information
• Primary information
• Quantitative
• Qualitative
• Internal to organization
• External to organization
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Research Data
• Secondary data is information which has already been gathered
• It is secondary because its use is not purpose for which it was gathered
• Sources
– Government agencies
– International data bases
– Own organization
– Financial institutions
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Research DataResearch Data
• Primary data is collected from original sources for
the purpose of study
– Three ways to do this:
• Observation
• Experiment
• Survey
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Need to ask four questionsNeed to ask four questions
• Is the information relevant?
• Is it current or obsolete?
• How accurate is it?
• How credible is the source of the data?
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Marketing Research InformationMarketing Research Information
• Is either:
– Quantitative
or
– Qualitative
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QuantitativeQuantitative
[Dibb, Simkin, Pride and Ferrell 1997]
• This is hard data
“research aimed at producing data that can be statistically analyse and results that can be
expressed numerically.”
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QualitativeQualitative
This is soft data
‘research that deals with information too difficult or
expensive to quantify such subjective opinions and
value judgements, typically unearthed during
interviews or discussion groups.’
[Dibb, Simkin, Pride and Ferrell, 1997]
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TechniquesTechniques
• Surveys
• Questionnaires
• Personal interviews
• Focus groups
• Observation
• Telephone interviews
• Mail interviews
• Experiments
• Test marketing
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ResearchResearch
Can be either
• Internal = information gathered from within the company
Or
• External = information gathered from outside the company
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ResearchResearch
• Continuous
– Carried out to determine long term trends
• Ad hoc
– Carried out for a particular purpose
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Conducting Market ResearchConducting Market Research
1. Establish purpose or aim of research (objective)
2. Determine information requirements
3. Select suitable methods/techniques
4. Conduct research
5. Collate, analyse and interpret data
6. Report the findings