SEM II : Marketing Research 1.06 Collect secondary marketing data to ensure accuracy and adequacy of information for decision making.

Keys to Successful Marketing Must understand and meet customer needs and wants To meet customer needs, marketers must collect information

Why collect information from customers? To learn which products sell best in certain locations. Then, to make these products available in these locations where customers are most willing and able to buy them.

Why collect marketing information from other sources? To find out what is happening in the external environment. To know about the - economy - legal/political situations - trends External Collection sources: Government agencies Trade organizations Consumer reports

The Collection Process This collection process includes:  Intelligence generation o Monitoring the external environment o Collecting data o Coordinating the collected data  Intelligence dissemination Sharing the data gathered  Responsiveness Analyzing the data Detecting an anticipating customer demand Utilizing the information to develop effective marketing strategies

Information Information gathered from others can be reported in:  Final reports  Journal articles  Oral presentations

Determining Type of Data Marketers can use one of three different research designs (or some combination of the three) to collect marketing data. The research design chosen for the study should stem directly from the questions which need to be answered and how much time, money, and resources are available for the study.

Research Designs Exploratory research Used when the problem is not well-defined Answers questions such as, “Why are ticket sales down?” Descriptive research Often used to determine characteristics of the target market Answers, “who, what, where, when, and how often” questions Causal research Explores the relationship between two variables Answers questions such as, “Does increased advertising result in more ticket sales?”

Collecting Marketing Information Primary Research You collect it May include surveys that can be mailed, The Internet conducted on the phone In person Secondary Research Others have collected it Obtaining and using data previously collected: Financial statements Ticket sales numbers Newspaper articles

Collecting Marketing Information 1. Define research objectives: What types of information need to be gathered? What questions need to be answered? 2. Define which type of research design will be used. Exploratory Used when the problem is not defined Descriptive Used to gather information regarding a target market Causal Used to demonstrate the cause and effect relationship

Steps for Conducting Consumer Research (continued) 3. Collect data. Primary data Secondary data How to obtain feedback? Personal observation Focus groups Questionnaires

Steps for Conducting Consumer Research (continued) 4. Determine sample. Group of people representative of the population. Helps make generalizations about a group of consumers. 5. Administer the survey 6. Analyze and interpret the results.

Objective Writing Marketing Reports

Steps for Conducting Consumer Research (continued) 7. Recommend solutions by creating a Marketing Report. Report the findings from the survey. An effective report answers specific research questions.

Marketing Report A marketing report should include: Title page Acknowledgements Contents Introduction The main portion of a marketing report that explains the research findings should include supporting charts, tables and graphs Review of information

Marketing Report (continued) Data collection procedures used Which research methods did you use? What types of primary & secondary data were collected? Describe the types of questions you asked. Provide a profile of people surveyed. Other Marketing Report Sections Findings Limitations (time constraints, sampling bias, finances) Recommendations Conclusions Appendix copies of questionnaires Interview forms Other technical documents Bibliography 8. Implement Solutions

Presenting Report Findings: Use computer software if possible Hold the viewers’ attentions Include text, graphics, sound, video More professional Can be shown to larger groups Briefly describe research methods Focus on findings Keep the presentation simple

Design a Questionnaire 1. Methods of administration include: Mail Telephone Websites Personal interviews

Design a Questionnaire (continued) 2. Content: Think about: Number of questions – not too lengthy Format Open-ended-: must answer with more than yes/no response Closed-ended: answerable with yes/no response Question wording Short Easy to understand One question per statement Layman’s terminology

Design a Questionnaire (continued) 3. Sequence Begin with broad questions Group similar topics together Consider skip patterns 4. Physical characteristics Simple to complete/accessible Headings for each section Easy to understand Enough room for responses to open-ended questions