1. Marketing Research Chapter 5

2. Warm-Up Why is it important for companies to do market research?

3. Marketing Research Procedure designed to identify solutions to a specific marketing problem through the use of scientific problem-solving

4. Scientific Decision-Making Step One Define the Problem Clearly define/state the problem  Have several people review it to make sure it is understandable

5. Scientific Decision-Making Step Two Analyze the Situation Identify what is already known  Information currently available Look at the solutions already attempted Review additional information and talk to people who have ideas or other information

6. Scientific Decision-Making Step Three Develop a Data Collection Procedure What additional information is needed and how to collect that information Secondary Data Information already available (collected for another purpose)  Examples: government reports, studies by colleges, information from trade associations or other business groups Primary Data Information collected for the first time to solve the problem being studied

7. Step Four Gathering Information Types of Primary data  Surveys or Questionnaire  Observation  Focus Groups Scientific Decision-Making

8. More to Step Four Collect Your Data Determine how you will collect your data If you are conducting a survey/questionnaire you must decide how you will conduct this survey  Telephone  Mail  Email  Internet  In-person

9. Step Four Continued Designing a survey Define your question (what information are you wanting to determine from your survey) Go back to Step one if necessary Keep to one page if possible Questions should be clear and easy to answer Only most important questions should appear Close-ended Questions  Yes/no; choices given; agree/disagree Open-ended Question  Respond in own words

10. Step Four Continued Analyze Data Interpret the information you have found Put it in writing Use graphs or charts

11. Scientific Decision-Making Step Five Propose a Solution Identify strategies to solve problems or improve marketing activities Research Reports  Statement of Problem  Review of Secondary Data  Research Procedures  Results of Research  Summary and Recommendation

12. Brainstorming ideas

13. Scientific Decision Making Example Statement of Problem: Availability of computer labs to teachers for class activities is too limited Analyze Situation Known: Tried Solutions Other feedback

14. Develop a Collection Procedure Secondary Data Primary Data Survey

15. Survey Questions