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Marketing Research 1-5 Chapters

Marketing Research 1-5 Chapters

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01/13/2013

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Introduction to Marketing ResearchDefinition:
The American Marketing Association defines marketing research as:
Marketing research is the function that links the consumer, customer, and publicto the marketer through information
information used to identify and definemarketing opportunities and problems; generate, refine, and evaluate marketing actions;monitor marketing performance; and improve understanding of marketing as a process.Marketing research specifies the information required to address these issues, designs themethod for collecting information, manages and implements the data collection process,analyses the results, and communicates the findings and their implications.” 
Marketing Research
ProblemIdentificationResearchProblem-SolvingResearchMarket Potential Research
Segmentation ResearchMarket Share Research
Product ResearchImage Research
Pricing ResearchMarket Characteristics Research
Promotion ResearchSales Analyses Research
Distribution ResearchForecasting ResearchBusiness Trends Research1
 
The Marketing Research Process:
It consists of 
six
steps:1.
Problem Definition
 The first step is to define the problem. In defining the problem, the researcher should takeinto account the purpose of the study, the relevant background information, theinformation needed, and how it will be used in decision making. Problem definitioninvolves discussion with the decision makers, interviews with industry experts, analysisof secondary data, and, perhaps, some qualitative research, such as focus groups. Oncethe problem has been precisely defined, the research can be designed and conducted properly.2.
Development of an Approach to the Problem
 Development of an approach to the problem includes formulating an objective or theoretical framework, analytical models, research questions, and hypotheses andidentifying the information needed. This process is guided by discussions withmanagement and industry experts, analysis of secondary data, qualitative research, and pragmatic considerations.3.
Research Design Formulation
A research design is a framework or blueprint for conducting the marketing research project. It details the procedure necessary for obtaining the required information, and its purpose is to design a study that will test the hypotheses of interest, determine possibleanswers to the research questions, and provide the information needed for decisionmaking. Considering exploratory research, precisely defining the variables, and designingappropriate scales to measure them are also part of the research design. The issue of howthe data should be obtained from the respondents (for example, by conducting a survey or an experiment) must be addressed. It is also necessary to design a questionnaire and asampling plan to select respondents for the study. More formally, formulating theresearch design involves the following steps:
o
Definition of the information needed
o
Secondary data analysis
o
Qualitative research
o
Methods of collecting quantitative data (survey, observation and experimentation)
o
Measurement and scaling procedures
o
Questionnaire design
o
Sampling process and sample size
o
Plan of data analysis4.
Fieldwork or Data Collection
Data collection involves a field force or staff that operates either in the field, as in thecase of personal interviewing (in-home, mall intercept, or computer assisted personalinterviewing), from an office by telephone (telephone or computer-assisted telephoneinterviewing), through mail (traditional mail and mail panel surveys with pre-recruitedhouseholds), or electronically (e-mail or internet). Proper selection, training, supervisionand evaluation of the field force help minimize data-collection errors.2
 
5.
Data Preparation & Analysis
Data preparation includes the editing, coding, transcription, and verification of data. Eachquestionnaire or observation form is inspected or edited and, if necessary, corrected. Number or letter codes are assigned to represent each response to each question in thequestionnaire. The data from the questionnaires are transcribed or keypunched ontomagnetic tape or disks, or input directly into the computer. The data are analyzed toderive information related to the components of the marketing research problem and, thusto provide input into the management decision problem.6.
Report Preparation & Presentation
The entire project should be documented in a written report that addresses the specificresearch questions identified; describes the approach, the research design, data collection,and data analysis procedures adopted in a comprehensible format so that management canreadily use them in the decision-making process. In addition, an oral presentation should be made to management using tables, figures, and graphs to enhance clarity and impact.The internet is also being used to disseminate marketing research results and reports,which can be posted on the Web and made available to managers on a worldwide basis.
The Role of Marketing Research in Marketing Decision Making:
3
Customer Groups
Consumers
Employees
Shareholders
Suppliers
ControllableMarketing Variables
:
Product
Pricing
Promotion
Distribution
MARKETINGRESEARCHUncontrollableEnvironment Factors
:
Economy
Technology
Competition
Laws & Regulations
Social & Cultural factors
Political FactorsAssessingInformation NeedsProvidingInformationMarketingDecisionMaking
Marketing Managers
Market Segmentation
Target Market Selection
Marketing Programs
Performance and Control

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