Principles of Marketing - UNBSJ BA 2303 Principles of Marketing - UNBSJ Marketing Research: From Information to Action Instructor – Terry Conrod

Learning Objectives BA 2303 Know what marketing research is. Explain the different types of marketing research. Understand the stages in the marketing research process. Explain the use of secondary data, surveys, experiments, and observation in marketing research. Explain how a marketing information system can trigger marketing actions.

From Information to Action BA 2303 Marketing Research: From Information to Action The Internet is reinventing marketing research Lower Cost Engaging More creative

WHAT IS MARKETING RESEARCH? BA 2303 WHAT IS MARKETING RESEARCH? What Marketing Research Is and Does

TYPES OF MARKETING RESEARCH BA 2303 TYPES OF MARKETING RESEARCH Exploratory Research Descriptive Research Causal Research

What is marketing research? BA 2303 Concept Check What is marketing research? Answer: Marketing research is the process of defining a marketing problem or opportunity, systematically collecting and analysing information, and recommending actions to improve an organization's marketing activities.

BA 2303 Concept Check What is the difference between exploratory, descriptive, and causal research? Answer: Exploratory research is done with the expectation that more conclusive research will be conducted later. Its initial purpose is to provide the researcher with a better understanding of the problem dimensions. Unlike exploratory research, descriptive research provides the researcher with a general understanding of the marketing problem and seeks conclusive data to answer questions necessary to determine a particular course of action. Exploratory and descriptive research would usually precede casual research. Causal research is used to identify cause-and-effect relationship among variables.

THE MARKETING RESEARCH PROCESS BA 2303 THE MARKETING RESEARCH PROCESS Scientific Method Reliability Validity

The basic marketing research process

What are reliability and validity? BA 2303 Concept Check What are reliability and validity? Answer: Reliability is the ability to replicate research results under identical environmental conditions. Validity involves the notion of whether the research measured what was originally intended.

What are the four basic stages in the marketing research process? Concept Check What are the four basic stages in the marketing research process? Answer: The four basic stages in the marketing research process is: (1) Problem recognition, (2) Formal research design, (3) Data collection and analysis, and (4) Conclusions and report.

BA 2303 PROBLEM DEFINITION Define the scope and nature of the marketing problem “a problem well defined is a problem half-solved.” Exploratory Research Secondary Data Primary Data Focus Groups Depth Interviews

Sources of secondary data BA 2303

What are secondary data? BA 2303 Concept Check What are secondary data? Answer: Secondary data, also called historical data, are data previously collected and assembled for some project other than the one at hand.

Concept Check What are focus groups? Answer: BA 2303 Concept Check What are focus groups? Answer: Focus groups are informal interview sessions in which 6 to 10 persons relevant to the research project are brought together in a room with a moderator to discuss topics surrounding the marketing research problem.

FORMAL RESEARCH DESIGN BA 2303 FORMAL RESEARCH DESIGN Survey Experiment Observation Ethnographic Research

Comparing mail, telephone, personal, and online surveys BA 2303 Comparing mail, telephone, personal, and online surveys

Typical problems in wording questions BA 2303 Typical problems in wording questions

Sample questions from restaurant survey BA 2303 Sample questions from restaurant survey

FORMAL RESEARCH DESIGN BA 2303 FORMAL RESEARCH DESIGN Is There an Optimal Research Design?.......no Sampling Probability sampling Non-probability sampling

Concept Check What is a survey? Answer: BA 2303 Concept Check What is a survey? Answer: A survey is a research technique used to generate data by asking people questions and recording their responses on a questionnaire.

BA 2303 Concept Check Which research method offers the potential for establishing cause-and-effect relationship? Answer: Marketing experiments offer the potential for establishing cause-and-effect relationships (causal research).

Concept Check What is sampling? Answer: BA 2303 Concept Check What is sampling? Answer: Sampling is the process of gathering data from a subset of the total population rather than from all members (census) of that particular population. A sample is a subset from a larger population.

DATA COLLECTION AND ANALYSIS BA 2303 DATA COLLECTION AND ANALYSIS Once the research design has been formalized, the process of gathering or collecting data begins.

CONCLUSIONS AND REPORT BA 2303 CONCLUSIONS AND REPORT Interpret the information and make conclusions with regard to managerial decision making. The report should highlight the important results and conclusions.

ETHICAL ISSUES IN THE MARKETING RESEARCH PROCESS BA 2303 ETHICAL ISSUES IN THE MARKETING RESEARCH PROCESS Professional marketing researchers must make ethical decisions regarding the collecting, using, and reporting of research data.

USING INFORMATION TECHNOLOGY TO TRIGGER MARKETING ACTIONS BA 2303 USING INFORMATION TECHNOLOGY TO TRIGGER MARKETING ACTIONS The Marketing Manager’s View of Sales Drivers Marketing Information System

Product and brand drivers: factors that influence sales BA 2303

USING INFORMATION TECHNOLOGY TO TRIGGER MARKETING ACTIONS BA 2303 USING INFORMATION TECHNOLOGY TO TRIGGER MARKETING ACTIONS Key Elements of a Marketing Information System Data warehouse Sensitivity analysis

BA 2303 How marketing researchers and managers use information technology to turn information into action.

USING INFORMATION TECHNOLOGY TO TRIGGER MARKETING ACTIONS BA 2303 USING INFORMATION TECHNOLOGY TO TRIGGER MARKETING ACTIONS Data Mining: A New Approach to Searching the Data Ocean Data mining

BA 2303 Concept Check What does a marketing manager mean when she talks about a sales “driver”? Answer: Many sales factors or "drivers" may influence the buying decisions of a household or organization and ultimately, its sales. These drivers include both the controllable marketing mix factors, like product and distribution, and uncontrollable factors like competition and the changing tastes of households or organizational buyers.

How does data mining differ from traditional marketing research? BA 2303 Concept Check How does data mining differ from traditional marketing research? Answer: Traditional marketing research typically involves developing a hypothesis about a driver and then collecting data. In contrast, data mining is the extraction of hidden predictive information from large databases.

BA 2303 Marketing Research Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analysing information, and recommending actions to improve an organization’s marketing activities.

BA 2303 Probability Sampling Probability sampling involves using precise rules to select the sample such that each element of the population has a specific known chance of being selected.

Non-probability Sampling In non-probability sampling researchers do not know the chances of selecting a particular element.

BA 2303 Primary Data Primary data are facts and figures that are newly collected for the project at hand.

BA 2303 Data Mining Data mining is the extraction of hidden predictive information from large databases.

BA 2303 Depth Interviews A detailed, individual interview with a person relevant to the research project.

BA 2303 Focus Groups An informal session of 6 to 10 past, present, or prospective customers, in which a discussion leader, or moderator, asks their opinions about the firm’s and its competitors’ products.

BA 2303 Survey A research technique used to generate data by asking people questions and recording their responses on a questionnaire.

Ethnographic Research BA 2303 Ethnographic Research Observational approach to discover subtle emotional reactions as consumers encounter products in their “natural use environment.”

BA 2303 Experiment Obtaining data by manipulating factors under tightly controlled conditions to test cause and effect.

BA 2303 Secondary Data Facts and figures that have been recorded before the project at hand.

BA 2303 Observation Watching, either mechanically or in person, how people behave.

BA 2303 Sampling The process of selecting subsets from a population.