Marketing Research - Short Outline

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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...
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