4 Conducting Marketing Research 1

What is Marketing Research? Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-2

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-3 The Marketing Research Process Define the problem Develop research plan Collect information Analyze information Present findings Make decision

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-4 Step 1: Define the Problem  Define the problem  Specify decision alternatives  State research objectives

4-5 Data Sources Internal External Secondary Data (Already Exists) Primary Data (Freshly Gathered For A Specific Purpose)

Types of Research Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-6 Exploratory Descriptive Causal

4-7 Step 2: Develop the Research Plan Data Sources Contact Methods Research Instruments Sampling Plan Research Approach

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-8 Research Approaches Observation Focus Group Survey Behavioral Data Experimentation Ethnographic

Focus Groups Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-9

Question Types – Likert Scale Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-10 Indicate your level of agreement with the following statement: Small airlines generally give better service than large ones.  Strongly disagree  Disagree  Neither agree nor disagree  Agree  Strongly agree

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? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-11

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 4-12 Contact Methods Mail Questionnaire Telephone Interview Personal Interview Online Interview

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-13 What are Marketing Metrics? Marketing metrics are the set of measures that helps marketers quantify, compare, and interpret marketing performance.

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 4-14 Table 4.4 Marketing Metrics External  Awareness  Market share  Relative price  Number of complaints  Customer satisfaction  Distribution  Total number of customers  Loyalty

4-15 Figure 4.3 Example of a Marketing Dashboard