perceived meaning of data collected from the study of consumer behavior.
the process of planing, collecting and analyzing data relevant to a marketing decision. Descriptive-Gathering & presenting factual statements Diagnostic-Explaining data Predictive-Attempting to estimate the results of a planed marketing decision
What Marketing Research asks and does?
-Where to open a new bakery? -Make better decisions -Why are sales declining? -How many potential customers?
Management uses of Marketing Research
-Improve the quality of decision making. -Retain customers by better understanding there needs. -Understand the changing market place. Note- The average fortune 200 company spends 11.5 million annually for in-house research.
Uses of Marketing Research
-Measurement of market potentials. -Determination of market characteristics. -Market share analysis -Competitive product studies -New product acceptance -Media research -Advertising effectiveness
1. Define the problem 2. Design the Research 3. Conduct the Research 4. Analyze the data 5. Address the problem
Define the problem
What do you want to learn? Will the results matter? Is it cost effective?
Design the Research
2 Types of research data come from the research question. Primary data -Information collect first hand specific to your purpose. -Surveys, Interviews, Experiments, Computers. Secondary data -Information collected previously -Census data, Internet sources.
Research Design Categories
3 categories branch from the Research question. 1. Exploratory -Why do people purchase brand X? (Qualitative Data) 2. Descriptive - How often do people shop for groceries and where do they go? 3. Explanatory- What happens if we increase the price? (Quantitative Data)
Research Types (Qualitative)
-Observation -Focus Groups -Interviews -Ethnographic
Research Types (Quantitative)
The study of human behavior in its natural context involves observation of behavior and physical setting.
Research Design Categories
Branch from Research Question Exploratory-Observation Descriptive- Interviews, Surveys Explanatory-Experiments(Field/Natural , Lab)
General to Specific top to bottom
Nominal - yes/no, male/female Ordinal- Indicate level of education: High School, Some College, Bachelors, Graduate Degree Interval- Temperate is 80 degrees twice as hot as 40 degrees Ratio- Measurement of distance/length
Free tools to collect data -Zoomerang.com -Surveymonkey.com
Open ended questions
-unstructured -word association -sentence completion
Closed Ended questions
-Forced choice -Dichotomous (yes/no ; True/False)- Two choices/outcomes -Multiple Choice
Scaled Response questions
-Likert Scale -Semantic differential scale -Importance and rating scales
-Allows to ask many questions at once. -Comparing and contrasting different variables.
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