Marketing Research - Short Outline
MARKETING RESEARCH
General information
Definition: “ Systematic and objective collection and analysis of information for the purpose of decision making in marketing “
Key functions: Studies consumer behaviour Helps identify marketing opportunities & problems Helps evaluate company’s marketing performance Helps select/ improve marketing strategy
Marketing Research ≠ Market Research Provides data on Provides data on company's environment company’s own products/services/current customers
The Marketing Research Process
1. Problem definition
1.1 Formulating decision problem (e.g. how to price new product)
1.2 Determining purpose & scope of research
2. Research Design
Exploratory research: understanding the nature of a problem
Conclusive research: answering research questions
2.1 Choosing Types of data
- Facts
- Opinions
- Motivations
2.2 Locating Sources of data
- Secondary data (previously published)
- Primary data (obtained directly from the consumer)
2.3 Methods of Collecting Data from primary sources Observation: Analysing customer´s behaviour Self-reporting Focus group: take part in a discussion to analyse people`s reaction to special topics Projective technique: respondents are asked to say the first word that comes into their minds upon a specific topic
Questionnaire: - Mail - Online - Telephone -Personal
2.3 Selecting the Sample
Sample: Group of elements (persons, stores, financial reports) chosen from among a total population Probability sample: Each unit has a known chance of being selected Nonprobability Sample: Sampling units are selected arbitrarily 2.4 Anticipating the Results
= Making a plan about how the marketing research and the final report will be designed
3. Research Conduction
= Implementing the research plan
4. Data Processing
= Transforming the information
General information
Definition: “ Systematic and objective collection and analysis of information for the purpose of decision making in marketing “
Key functions: Studies consumer behaviour Helps identify marketing opportunities & problems Helps evaluate company’s marketing performance Helps select/ improve marketing strategy
Marketing Research ≠ Market Research Provides data on Provides data on company's environment company’s own products/services/current customers
The Marketing Research Process
1. Problem definition
1.1 Formulating decision problem (e.g. how to price new product)
1.2 Determining purpose & scope of research
2. Research Design
Exploratory research: understanding the nature of a problem
Conclusive research: answering research questions
2.1 Choosing Types of data
- Facts
- Opinions
- Motivations
2.2 Locating Sources of data
- Secondary data (previously published)
- Primary data (obtained directly from the consumer)
2.3 Methods of Collecting Data from primary sources Observation: Analysing customer´s behaviour Self-reporting Focus group: take part in a discussion to analyse people`s reaction to special topics Projective technique: respondents are asked to say the first word that comes into their minds upon a specific topic
Questionnaire: - Mail - Online - Telephone -Personal
2.3 Selecting the Sample
Sample: Group of elements (persons, stores, financial reports) chosen from among a total population Probability sample: Each unit has a known chance of being selected Nonprobability Sample: Sampling units are selected arbitrarily 2.4 Anticipating the Results
= Making a plan about how the marketing research and the final report will be designed
3. Research Conduction
= Implementing the research plan
4. Data Processing
= Transforming the information