-The creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns Show The Role of Marketing Research -Marketing research is the process of planning, collecting, and analyzing data relevant to a marketing decision. Management Uses of Marketing Research • Improve the quality of decision making • Trace problems • Focus on keeping existing customers • Understand the marketplace • Alert them to marketplace trends • Gauge the value of goods and services, and the level of customer satisfaction The Role of Marketing Research -Descriptive: Gathering and presenting factual statements -Diagnostic: Explaining data -Predictive: Address "what if" questions Steps in a Marketing Research Project 1. Define Problem 2. Plan/Design primary data 3. Specify sampling procedure 4. Collect data 5. Analyze data 6. Prepare/present report 7. Follow up The Marketing Research Project -Marketing Research Problem: Determining what information is needed and how that information can be obtained efficiently and effectively -Marketing Research Objective: The specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information. -Management Decision Problem: A broad-based problem that uses marketing research in order for managers to take proper actions. Sources of Secondary Data -Internal corporate information -Government agencies -Trade and industry associations -Business periodicals -News media Advantages of Secondary Data • Saves time and money if on target • Aids in determining direction for primary data collection • Pinpoints the kinds of people to approach • Serves as a basis of comparison for other data Disadvantages of Secondary Data • May not give adequate detailed information • May not be on target with the research problem • Quality and accuracy of data may pose a problem Disadvantages of Secondary Data • May not give adequate detailed information • May not be on target with the research problem • Quality and accuracy of data may pose a problem Planning the Research Design -Which research questions must be answered? -How and when will data be gathered? -How will the data be analyzed? -Information collected for the first time. Used for solving the particular problem under investigation. -Advantages: • Answers a specific research question • Data are current • Source of data is known • Secrecy can be maintained -Disadvantage: • Can be very expensive to collect primary data -The most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes. -In-Home interviews -Mall intercept interviews -Telephone interviews -Mail surveys -Executive interviews -Focus groups -Open-ended question: An interview question that encourages an answer phrased in the respondent’s own words. -Close-ended question: An interview question that asks the respondent to make a selection from a limited list of responses. -Scaled-Response question: A closed-ended question designed to measure the intensity of a respondent’s answer. -Should be clear and concise -Have no ambiguous language -Avoid leading questions -Avoiding asking two questions in one Four types: -People watching people -People watching phenomena -Machines watching people -Machines watching phenomena -Researchers posing as customers who gather observational data about a store Behavioral Targeting (BT) -A form of observation marketing research that uses data mining couples with identifying Web surfers by the IP addresses. -The study of human behaviors in its natural context; involves observation of behavior and physical setting. Advantages of virtual shopping: • Creates an environment with a realistic level of complexity and variety. • Allows quick set up and altering of tests. • Low production costs. • High flexibility. -Experiments are used by researches to gather primary data. -Experimental Variables: -Price -Package design -Shelf space -Advertising theme -Advertising expenditures -Probability Samples -Non-probability samples -Probability Samples: -Simple Random Sample -Stratified Sample -Cluster sample -Systematic sample -Non-Probability Samples: -Convenience Sample -Judgement Sample -Quota Sample -Snowball Sample -A sample in which every element in the population has a known statistical likelihood of being selected. -A sample arranged so that every element of the population has an equal chance of being selected -Any sample in which little or no attempt is made to get a representative cross-section of the population. -A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher. -Measurement Error: Error when there is a difference between the information desired and the information provided by the process -Sampling Error: Error when a sample somehow does not represent the target population. -Frame Error: Error when a sample drawn from a population differs from the target population. -Random Error: Error because the selected sample is an imperfect representation of the overall population. -Field Service Firms provide: - Focus group facilities -Mall intercept locations -Test product storage -Kitchen facilities -A method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions. Impact of the Internet on Marketing Research • Under appropriate conditions, can represent the entire population • Has replaced computer-assisted telephone interviewing • Great potential for further growth Methods of Collecting Online Surveys • Web Survey Systems • Survey Design and Web Hosting Sites • Online Panel Providers Advantages of Online Focus Groups • Better participation rates • Cost-effectiveness • Broad geographic scope • Accessibility • Honesty Role of Consumer-Generated Media in Marketing Research • CGM comes from various sources: blogs, message boards, review sites, podcasts, etc. • CGM is trusted more than traditional advertising. Competitive Intelligence (CI) -An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors. Sources of Competitive Intelligence -Internet -Company Salespeople -Industry Experts -CI Consultants -Government Agencies -UCC Filings -Suppliers -Periodicals -Yellow Pages -Trade Shows What is the most popular method for gathering primary data in which a researcher interacts?The most common primary market research methods are interviews, surveys, focus groups and observations.
What is the most popular technique for gathering data?The most common way to collect primary data is through surveys and interviews.
Which is the most widely used method for collecting primary data and information?Survey or Interview? Conducting a survey is the most common data collecting method.
What is a technique used to obtain primary data quizlet?A widely used technique commonly used for collecting primary data is: conducting a survey.
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Which of the following is the most popular technique for gathering primary data in which a researcher interacts with people to obtain facts?
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