4 Conducting Marketing Research · PDF file29-Sep-14 11 Pros and Cons of Online Research...
Transcript of 4 Conducting Marketing Research · PDF file29-Sep-14 11 Pros and Cons of Online Research...
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4Conducting
Marketing Research
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Chapter Questions
What constitutes good marketing research? What are the best metrics for measuring
marketing productivity? How can marketers assess their return on
investment of marketing expenditures?
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Venus Razor
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What is Marketing Research?
Marketing research is the systematic design,collection, analysis, and reporting of data
and findings relevant to a specific marketingsituation facing the company.
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Types of Marketing Research Firms
Syndicated
Custom
Specialty-line
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The Marketing Research Process
Define the problem Develop research plan Collect information Analyze information Present findings Make decision
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Step 1: Define the Problem
Define the problem Specify decision alternatives State research objectives
Types of Research
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Exploratory
Descriptive
Causal
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Step 2: Develop the Research Plan
Data sources Research approach Research instruments Sampling plan Contact methods
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Data sources
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Research Approaches
Observational and ethnographic Focus group Survey Behavioral Experimental
Focus Groups
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Research Instruments
Questionnaires Qualitative Measures Technological Devices
Qualitative Techniques
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Word Associations
Visualization
Projective Techniques
Laddering
Questionnaire Do’s and Don’ts
Ensure questions arefree of bias
Make questions simple Make questions specific Avoid jargon Avoid sophisticated
words Avoid ambiguous words
Avoid negatives Avoid hypotheticals Avoid words that could
be misheard Use response bands Use mutually exclusive
categories Allow for “other” in fixed
response questions
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Question Types - Dichotomous
In arranging this trip, did you contactAmerican Airlines?
Yes No
Question Types – Multiple Choice
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With whom are you traveling on this trip?
No one
Spouse
Spouse and children
Children only
Business associates/friends/relatives
An organized tour group
Question Types – Likert Scale
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Indicate your level of agreement with thefollowing statement: Small airlines generallygive better service than large ones.
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
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Question Types –Semantic Differential
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American Airlines
Large ………………………………...…….Small
Experienced………………….….Inexperienced
Modern……………………….…..Old-fashioned
Question Types –Importance Scale
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Airline food service is _____ to me.
Extremely important
Very important
Somewhat important
Not very important
Not at all important
Question Types – Rating Scale
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American Airlines’ food service is _____.
Excellent
Very good
Good
Fair
Poor
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Question Types –Intention to Buy Scale
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How likely are you to purchase tickets onAmerican Airlines if in-flight Internet accesswere available?
Definitely buy
Probably buy
Not sure
Probably not buy
Definitely not buy
Question Types –Intention to Buy Scale
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How likely are you to purchase tickets onAmerican Airlines if in-flight Internet accesswere available?
Definitely buy
Probably buy
Not sure
Probably not buy
Definitely not buy
Question Types –Completely Unstructured
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What is your opinion of American Airlines?
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Question Types –Word Association
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What is the first word that comes to your mindwhen you hear the following?
Airline ________________________
American _____________________
Travel ________________________
Question Types –Sentence Completion
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When I choose an airline, the most importantconsideration in my decision is:________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.
Question Types –Story Completion
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“I flew American a few days ago. I noticedthat the exterior and interior of the plane hadvery bright colors. This aroused in me thefollowing thoughts and feelings.” Nowcomplete the story._______________________________________________________________________________________________________________________________________________________________________________
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Technological Devices
Galvanometers Tachistoscope Eye cameras Audiometers GPS
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Sampling Plan
Sampling unit: Who is to be surveyed? Sample size: How many people should be
surveyed? Sampling procedure: How should the
respondents be chosen?
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Contact Methods
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Pros and Cons ofOnline ResearchAdvantages Inexpensive Fast Accuracy of data Versatility
Disadvantages Small samples Skewed samples Technological
problems Inconsistencies
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What is aMarketing Decision SupportSystem (MDSS)?
A marketing decision support system is acoordinated collection of data, systems,tools, and techniques with supportinghardware and software by which anorganization gathers and interprets relevantinformation from business and environmentand turns it into a basis for marketing action.
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Barriers Limiting the Use ofMarketing Research
A narrow conception of the research Uneven caliber of researchers Poor framing of the problem Late and occasionally erroneous findings Personality and presentational differences
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Market Research Can Fail
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Table 4.3 Characteristics ofGood Marketing Research
Scientific method Research creativity Multiple methods Interdependence Value and cost of information Healthy skepticism Ethical marketing
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What are Marketing Metrics?
Marketing metrics are the set of measuresthat helps marketers quantify, compare, and
interpret marketing performance.
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Table 4.4 Marketing MetricsExternal Awareness Market share Relative price Number of complaints Customer satisfaction Distribution Total number of
customers Loyalty
Internal Awareness of goals Commitment to goals Active support Resource adequacy Staffing levels Desire to learn Willingness to change Freedom to fail Autonomy
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What is Marketing-Mix Modeling?
Marketing-mix models analyze data from avariety of sources, such as retailer scanner
data, company shipment data, pricing,media, and promotion spending data, tounderstand more precisely the effects of
specific marketing activities.
Figure 4.2 MarketingMeasurement Pathway
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Figure 4.3 Marketing Dashboard
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Table 4.4 Sample Customer-PerformanceScorecard Measures
% of new customers to average # % of lost customers to average # % of win-back customers to average # % of customers in various levels of satisfaction % of customers who would repurchase % of target market members with brand recall % of customers who say brand is most preferred
For Review
What constitutes good marketing research? What are the best metrics for measuring
marketing productivity? How can marketers assess their return on
investment of marketing expenditures?
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