The Marketing Research Process 1 Marketing Research: Definition 2 Many definitions of Marketing Research: Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing
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Presentation Transcript
01
The Marketing Research
Process 1<br>
02
Marketing Research: Definition 2 Many definitions of Marketing Research:
“Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.”
Marketing research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.<br>
03
Need For Marketing Research 3 • Why do businesses need accurate and up-to-date information? To undertake marketing effectively
Changes in technology
Changes in consumer tastes
Market demand
Changes in the product ranges of competitors
Changes in economic conditions
Distribution channels<br>
04
Purpose Of Marketing Research 4 Gain a more detailed understanding of consumers’ needs:
e.g., views on products’ prices, packaging, recent advertising campaigns
Reduce the risk of product/business failure:
there is no guarantee that any new idea will be a commercial success
Can help to achieve commercial success
Forecast future trends:
it can also be used to anticipate future customer needs<br>
05
EXAMPLES OF RESEARCH IN MARKETING 5<br>
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USES 6 Identify marketing opportunities and problems
Generate, refine, and evaluate potential marketing actions
Monitor marketing performance
Improve marketing as a process
Reduces uncertainty
Reduces risk
Helps focus decision making<br>
07
OVERVIEW OF THE MARKETING RESEARCH PROCESS 7 Why should we do research?
What research should be done?
Is it worth doing the research?
How should the research be designed to achieve the research objectives?
What will we do with the research?<br>
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STAGES OF THE RESEARCH PROCESS 8 Define the decision problem or opportunity
Specify the research objectives
Develop a research design
Design the questionnaire
Manage and implement the data collection
Analyze Data
Write a Final research report<br>
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PROBLEM DEFINITION 9 Problem means management problem
“A problem well-defined is half solved”
Identifying and defining the problem or opportunity is a crucial first step in the marketing research process.
When defining the problem, it is important to think broadly about the possible causes.
Defining the Problem Results in Clear Cut Research Objectives.
Marketing problems may be difficulty-related or opportunity-related. For both, the prerequisite of defining the problem is to identify and diagnose it.<br>
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SPECIFY THE RESEARCH OBJECTIVES 10 What specific information should the project provide?
If more than one type of information will be developed from the study, which is the most important? and
What are the priorities?
When specifying research objectives, development of hypotheses, might be very helpful.
When achieved, objectives provide the necessary information to solve the problem.<br>
11
DEVELOP A RESEARCH DESIGN 11 A research design is a framework or blueprint for conducting the marketing research project. Exploratory
Depth of analysis (define variables and relationships)
Descriptive
Determine and describe variability (e.g. in behavior and attitude).
Causal
Examination and justification of correlations among the variables (e.g. relationships between causes and effects).<br>
12
DESIGN THE QUESTIONNAIRE 12 Questionnaire design is one of the basic building blocks of marketing research.
Its first and prime role is to draw accurate information from the respondent.
There are 3 different types of Question Classifications:
Behavioral
Attitudinal
Classification<br>
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Have you ever ........?
Do you ever ........?
Who do you know ........?
When did you last ........?
Which do you do most often ........?
Who does it ........?
How many ........?
Do you have ........?
In what way do you do it ........?
In the future will you ........? Behavioral questions address the following: 13 They determine people's actions in terms of what they have eaten (or drunk), bought, used, visited, seen, read or heard. Behavioral questions record facts and not matters of opinion.<br>
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What do you think of ........?
Why do you ........? Do you agree of disagree ........? How do you rate ........? Which is best (or worst) for ........? Attitudinal questions address the following: 14 Attitudes are opinions or basic beliefs which people have about the products
they buy, the companies they deal with and it is attitudes that motivates people
in their actions.<br>
15
Sex.
There can be no other classifications other than
MALE and FEMALE. Household status. Most researchers classify adults into three groups which are:
Head of household ( )
Housewife ( )
Other adult ( ) Classification questions: 15 Classification questions are required to check that the correct quota of people or companies have been interviewed.<br>
16
MANAGE AND IMPLEMENT THE DATA COLLECTION 16 This process includes field work and desk work for collecting all relevant data and information
Field work includes interviewing the personals by interacting them face to face by visiting them in home or offices or arranging
group meetings at any preferred place.
Desk work includes contacting personals over telephone or via series of emails and web meetings.<br>
17
ANALYZE DATA 17 This process is the most important process in the research as the results are generated on the basis of data preparation.
After the data collecting stage the collected data is
edited,
Coded,
transcribed
corrected if required and
validated.
Uni/multivariate techniques are used for analyzing data when there is a single/multiple measurement of each element or unit in the sample data.<br>
18
WRITE A FINAL RESEARCH REPORT 18 The final report should addresses the
specific research questions identified
the research design
data collection
data analysis procedures adopted
presents the results and the major findings
The findings should be presented in a comprehensible format so
that they can be readily used in the decision making process.
Oral presentation should be made to management using tables, figures, and graphs to enhance clarity and impact.<br>
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Nielsen Collects Data from Retailers & Consumers...
Manufacturer 19 Retailer Consumer
…& sells / trades data to the
manufacturer & retailer Data<br>
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Data is collected from stores & consumers Our Associates Interpret the Data 20 Our associates analyze & interpret the data We draw conclusions & make recos to clients $$
Leads to business success for our clients What Does It All Mean?<br>
