Marketing Research

What is Marketing Research? Marketing Research is a systematic,objective collection and analysis of data about a particular target market,competition,or environment.

Types of Marketing Research By Source - Primary - Secondary By Objectives - Exploratory - Descriptive - Causal (or experimental) By Methodology - Qualitative - Quantitative

By Source Primary: Collection of data specifically for the problem or project in hand Secondary: Based on data previously collected for purposes other than the research in hand (published articles,government stats,etc.)

By Methodology QualitativeQuantitative Type of QuestionProbing Simple Sample SizeSmallLarge Information per respondentHighLow Questioner’s skillHighLow Analyst’s skillHighHigh Type of analysisSubjectiveObjective InterpretativeStatistical Ability to replicateLowHigh Areas probedAttitudesChoices FeelingsFrequency MotivationsDemographics

By Objective Exploratory: Preliminary data needed to develop an idea further. Descriptive: Describe an element of an ideas precisely. Causal: Test a cause and effect relationship.

The Market Research Process Defining the problem and objectives Developing the research plan Collecting the information Analysing the information Presenting the findings

Defining the problem and objectives Distinguish between the research type needed (exploratory,descriptive or causal)

Developing the research plan Decide on; budget data sources research approaches research instruments sampling plan contact methods

Collecting the information Information is collected according to the plan.

Analysing the information Statistical manipulation of the data collected (regression or subjective analysis of focus groups)

Presenting the findings Overall conclusions to be presented rather than crushing statistical methodologies