4 Conducting Marketing Research · PDF file29-Sep-14 11 Pros and Cons of Online Research Advantages ð§Inexpensive ð§Fast ð§Accuracy of data ð§Versatility Disadvantages ð§Small

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4Conducting

Marketing Research

1

Chapter Questions

What constitutes good marketing research? What are the best metrics for measuring

marketing productivity? How can marketers assess their return on

investment of marketing expenditures?

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-2

Venus Razor


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What is Marketing Research?

Marketing research is the systematic design,collection, analysis, and reporting of data

and findings relevant to a specific marketingsituation facing the company.



Types of Marketing Research Firms

Syndicated

Custom

Specialty-line


The Marketing Research Process

Define the problem Develop research plan Collect information Analyze information Present findings Make decision

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Step 1: Define the Problem

Define the problem Specify decision alternatives State research objectives

Types of Research


Exploratory

Descriptive

Causal


Step 2: Develop the Research Plan

Data sources Research approach Research instruments Sampling plan Contact methods

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Data sources



Research Approaches

Observational and ethnographic Focus group Survey Behavioral Experimental

Focus Groups


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Research Instruments

Questionnaires Qualitative Measures Technological Devices

Qualitative Techniques


Word Associations

Visualization

Projective Techniques

Laddering

Questionnaire Do’s and Don’ts

Ensure questions arefree of bias

Make questions simple Make questions specific Avoid jargon Avoid sophisticated

words Avoid ambiguous words

Avoid negatives Avoid hypotheticals Avoid words that could

be misheard Use response bands Use mutually exclusive

categories Allow for “other” in fixed

response questions


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Question Types - Dichotomous

In arranging this trip, did you contactAmerican Airlines?

Yes No

Question Types – Multiple Choice


With whom are you traveling on this trip?

No one

Spouse

Spouse and children

Children only

Business associates/friends/relatives

An organized tour group

Question Types – Likert Scale


Indicate your level of agreement with thefollowing statement: Small airlines generallygive better service than large ones.

Strongly disagree

Disagree

Neither agree nor disagree

Agree

Strongly agree

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Question Types –Semantic Differential


American Airlines

Large ………………………………...…….Small

Experienced………………….….Inexperienced

Modern……………………….…..Old-fashioned

Question Types –Importance Scale


Airline food service is _____ to me.

Extremely important

Very important

Somewhat important

Not very important

Not at all important

Question Types – Rating Scale


American Airlines’ food service is _____.

Excellent

Very good

Good

Fair

Poor

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Question Types –Intention to Buy Scale


How likely are you to purchase tickets onAmerican Airlines if in-flight Internet accesswere available?

Definitely buy

Probably buy

Not sure

Probably not buy

Definitely not buy

Question Types –Intention to Buy Scale


How likely are you to purchase tickets onAmerican Airlines if in-flight Internet accesswere available?

Definitely buy

Probably buy

Not sure

Probably not buy

Definitely not buy

Question Types –Completely Unstructured


What is your opinion of American Airlines?

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Question Types –Word Association


What is the first word that comes to your mindwhen you hear the following?

Airline ________________________

American _____________________

Travel ________________________

Question Types –Sentence Completion


When I choose an airline, the most importantconsideration in my decision is:________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.

Question Types –Story Completion


“I flew American a few days ago. I noticedthat the exterior and interior of the plane hadvery bright colors. This aroused in me thefollowing thoughts and feelings.” Nowcomplete the story._______________________________________________________________________________________________________________________________________________________________________________

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Technological Devices

Galvanometers Tachistoscope Eye cameras Audiometers GPS


Sampling Plan

Sampling unit: Who is to be surveyed? Sample size: How many people should be

surveyed? Sampling procedure: How should the

respondents be chosen?


Contact Methods


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Pros and Cons ofOnline ResearchAdvantages Inexpensive Fast Accuracy of data Versatility

Disadvantages Small samples Skewed samples Technological

problems Inconsistencies


What is aMarketing Decision SupportSystem (MDSS)?

A marketing decision support system is acoordinated collection of data, systems,tools, and techniques with supportinghardware and software by which anorganization gathers and interprets relevantinformation from business and environmentand turns it into a basis for marketing action.


Barriers Limiting the Use ofMarketing Research

A narrow conception of the research Uneven caliber of researchers Poor framing of the problem Late and occasionally erroneous findings Personality and presentational differences


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Market Research Can Fail



Table 4.3 Characteristics ofGood Marketing Research

Scientific method Research creativity Multiple methods Interdependence Value and cost of information Healthy skepticism Ethical marketing


What are Marketing Metrics?

Marketing metrics are the set of measuresthat helps marketers quantify, compare, and

interpret marketing performance.

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Table 4.4 Marketing MetricsExternal Awareness Market share Relative price Number of complaints Customer satisfaction Distribution Total number of

customers Loyalty

Internal Awareness of goals Commitment to goals Active support Resource adequacy Staffing levels Desire to learn Willingness to change Freedom to fail Autonomy


What is Marketing-Mix Modeling?

Marketing-mix models analyze data from avariety of sources, such as retailer scanner

data, company shipment data, pricing,media, and promotion spending data, tounderstand more precisely the effects of

specific marketing activities.

Figure 4.2 MarketingMeasurement Pathway


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Figure 4.3 Marketing Dashboard



Table 4.4 Sample Customer-PerformanceScorecard Measures

% of new customers to average # % of lost customers to average # % of win-back customers to average # % of customers in various levels of satisfaction % of customers who would repurchase % of target market members with brand recall % of customers who say brand is most preferred

For Review

What constitutes good marketing research? What are the best metrics for measuring

marketing productivity? How can marketers assess their return on

investment of marketing expenditures?


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4 Conducting Marketing Research · PDF file29-Sep-14 11 Pros and Cons of Online Research Advantages ð§Inexpensive ð§Fast ð§Accuracy of data ð§Versatility Disadvantages ð§Small