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McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
Identify the reason for conducting marketing research.LO1
Describe the five-step marketing research approach that leads to marketing actions.
Explain how marketing uses secondary and primary data.LO3
LO2
LEARNING OBJECTIVES (LO)
AFTER READING CHAPTER 8, YOU SHOULD BE ABLE TO:
8-2
Discuss the uses of observations, questionnaires, panels, experiments, and newer data collection methods.
Explain how information technology and data mining lead to marketing actions.
LO4
LO5
LEARNING OBJECTIVES (LO)
AFTER READING CHAPTER 8, YOU SHOULD BE ABLE TO:
Describe three approaches to developing a company’s sales forecast.
LO6
8-3
The Challenges in Doing Good Marketing Research
Five-Step Marketing Research Approach
THE ROLE OF MARKETING RESEARCHLO1
What is Marketing Research?
• Decision • Decision Making
8-4
FIGURE 8-2FIGURE 8-2 Five-step marketing research approach leading to marketing actions
8-5
STEP 1: DEFINE THE PROBLEMSET THE RESEARCH OBJECTIVES
LO2
Exploratory Research
Descriptive Research
Causal Research
8-6
STEP 1: DEFINE THE PROBLEMIDENTIFY POSSIBLE MARKETING ACTIONS
LO2
Measures of Success
Possible Marketing ActionsMeasure of Success: Playtime
• Children Spent More TimePlaying with Old Design
• Children Spent More TimePlaying with New Design
• Continue with Old Design;Don’t Introduce New Design
• Introduce New Design;Drop Old Design
8-7
STEP 2: DEVELOPTHE RESEARCH PLAN
LO2
Specify Constraints Identify Data Needed for Marketing
Actions
8-8
Determine How To Collect Data
Methods
• Sampling
• Statistical Inference
STEP 3: COLLECT RELEVANT INFORMATION/DATA
LO3
Data
Secondary Data
Primary Data
8-9
FIGURE 8-3FIGURE 8-3 Types of marketing information
8-10
STEP 3: COLLECT RELEVANT INFO/DATA+/– OF SECONDARY DATA
LO3
Advantages
• Time Savings
• Inexpensive
• Out of Date
• Definitions/Categories Not Right
Disadvantages
• Not Specific Enough8-11
STEP 3: COLLECT RELEVANT INFO/DATA+/– OF PRIMARY DATA
LO5
Advantage
• Expensive
• Time Consuming to Collect
Disadvantages
• More Specific to the Problem
8-12
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—WATCHING PEOPLE
LO4
Mechanical Methods
• Observational Data
Nielsen’s A2/M2 Nielsen’s TV Ratings
8-16
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—WATCHING PEOPLE
LO4
Personal Methods
• Mystery Shopper
• Videotaping
• Ethnographic Research
8-17
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—ASKING PEOPLE
LO4
Questionnaire Data
• Individual Interviews
Idea Generation Methods
• Depth Interviews8-18
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—ASKING PEOPLE
LO4
• Focus Groups
Idea Generation Methods
• “Fuzzy Front End”
8-19
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—ASKING PEOPLE
LO4
• IndividualInterviewSurveys
• Mail/FaxSurveys
• TelephoneSurveys
Idea Evaluation Methods
• Online(E-Mail/Internet)Surveys
• Mall Intercept Interview Surveys8-20
FIGURE 8-BFIGURE 8-B Comparison of types of surveys
8-21
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—QUESTION FORMATS
LO4
Open-Ended Questions
Closed-End or Fixed Alternative Questions
Dichotomous Questions
Semantic Differential Questions
Likert Scale Questions8-22
FIGURE 8-5AFIGURE 8-5A Different types of questions in a sample Wendy’s survey (Q1-Q5)
8-23
FIGURE 8-5A (Q5)FIGURE 8-5A (Q5) Sample Wendy’s survey: Semantic differential scale question
8-28
FIGURE 8-5BFIGURE 8-5B Different types of questions in a sample Wendy’s survey (Q6-Q9)
8-29
FIGURE 8-5B (Q7)FIGURE 8-5B (Q7) Sample Wendy’s survey: Media behavior question
8-31
FIGURE 8-5B (Q8)FIGURE 8-5B (Q8) Sample Wendy’s survey: Usage behavior question
8-32
FIGURE 8-5B (Q9)FIGURE 8-5B (Q9) Sample Wendy’s survey: Demographic questions
8-33
FIGURE 8-6FIGURE 8-6 Typical problems when wording questions
8-34
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—OTHER SOURCES
LO4
Social Networks
Panels
8-35
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—OTHER SOURCES
LO4
Experiments
• Independent Variable:The Cause
• Dependent Variable:The Result
• Test Markets
8-36
STEP 3: COLLECT RELEVANT INFO/DATAPRIMARY DATA—OTHER SOURCES
LO5
Information Technology
• Sensitivity Analysis
• Data Warehouse
Data Mining
• RFID Technology8-37
FIGURE 8-7FIGURE 8-7 How marketing researchers and managers use information technology to turn information into action
8-38
FIGURE 8-CFIGURE 8-C Sales drivers: factors that influence product or brand sales and are essential for effective marketing programs
8-39
STEP 4: DEVELOP FINDINGSLO5
Present the Findings
Analyze the Data
• How are Sales?
• What FactorsContribute toSales Trends?
8-40
FIGURE 8-8FIGURE 8-8 Marketing dashboards that present findings to Tony’s marketing manager that leads to recommendationsand actions
8-41
STEP 5: TAKE MARKETING ACTIONSLO5
Evaluate the Results
Make Action Recommendations
Implement the Action Recommendations
• The Decision Process Used
• The Decision Itself
8-46
SALES FORECASTING TECHNIQUESLO6
Sales Forecast
Judgments of the Decision Maker
Surveys of Knowledgeable Groups
• Direct Forecast
• Lost-Horse Forecast
• Salesforce Survey Forecast
• Survey of Buyers’ Intentions Forecast
8-47
SALES FORECASTING TECHNIQUESLO6
Statistical Methods
• Trend Extrapolation
• Linear Trend Extrapolation
8-48
FIGURE 8-9FIGURE 8-9 Linear trend extrapolation of sales revenues at Xerox (made at the startof 2000)
8-49
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