Conducting Marketing Research

Discussion Questions

1. What is the scope of marketing

research?
2. What steps are involved in
conducting good marketing
research?
3. What are the best metrics for
measuring marketing productivity?

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 Marketing Research System
Market Research

Insight

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 Marketing Research
“The function that links the consumer,
customer, and public to the marketer
through information—information used to
identify and define marketing opportunities
and problems; generate, refine, and
evaluate marketing actions; monitor
marketing performance; and improve
understanding of marketing as a process.”
(AMA, 2014)
www.marketingpower.com/AboutAMA, accessed February 16, 2014.
 Creative Research Means
Check out rivals
Internet sources

Rivals

Employees’ creativity
and wisdom

Marketing partners

Student/professors
projects
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Who does marketing research?
 Small to large, every kind of firms are engaged nowadays
in marketing research through various activities
1. Engaging students or professors to design and carry out projects.
2. Using the Internet
3. Checking out rivals
4. Tapping into marketing partner expertise
5. Tapping into employee creativity and wisdom
Kinds of Marketing Research Firms
1. Syndicated-Service Research Firms (Provide free of cost data)
2. Custom Marketing Research Firms (Provide payment based)
3. Specialty-line Marketing Research Firms (e.g.: Only Survey)
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 Marketing Research Process

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Step 1: Define the Problem

Focused inquiry

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 Step 2: Develop the Research Plan
Research Approaches
• Observation
• Focus groups
• Surveys
• Behavioral data
• Experiments
Data Sources
• Secondary data
• Primary data

Research instrument
Sampling plan • Questionnaires
Contact method • Qualitative measures
• Technological devices
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Step 3: Collect the Information
Online surveys

Telephone surveys

Interviews
In-home surveys
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Step 4: Analyze the Information

Develop summary measures

Compute averages
Statistical analysis / decision models

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Step 5: Present the Findings

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 Step 6: Make the Decision

Research Decisions

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 Characteristics of Good Marketing Research
1. Scientific method
2. Research creativity
3. Multiple methods
4. Interdependence of models and data
5. Value and cost of information
6. Healthy skepticism
7. Ethical marketing

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 Former marketing research
executive for General Foods
concluded that Star Wars would
fail at the box office. The film
grossed $4.3 billion in box office
receipts.

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 Measuring Marketing Productivity
Marketing-mix modeling

Marketing metrics
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Marketing Metrics

Quantify

Marketing
Compare Performance

Interpret

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Marketing Metrics
External
• Awareness
• Market share
• Relative price
• Number of complaints
• Consumer satisfaction
• Total number of customers
• Perceived quality/esteem
• Loyalty/retention
• Relative perceived quality

Internal metrics: employees

awareness of goals; resource
adequacy or autonomy.
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Marketing-Mix Modeling

Awareness

Expenditure

A variety of sources

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 Marketing Dashboards
“a concise set of interconnected
performance drivers to be
viewed in common throughout
the organization.”

Provide information in real-time

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 Marketing Measurement
Pathway

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 Marketing Dashboard Example

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