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ConductingMarketing Research and
Forecasting Demand
4
Marketing Management
A South Asian Perspective, 13th
ed
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Copyright 2009 Dorling Kindersley (India) Pvt. Ltd. 4-2
Chapter Questions
What constitutes good marketingresearch?
What are good metrics for measuring
marketing productivity? How can marketers assess their return
on investment of marketing
expenditures? How can companies more accurately
measure and forecast demand
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ITC Used Extensive Market Researchbefore launching the Sunfeast range
of biscuits
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What is Marketing Research?
Marketing research is the systematicdesign, collection, analysis, and
reporting of data and findings relevant
to a specific marketing situation facingthe company.
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Types of Marketing Research Firms
Syndicated-service
CustomSpecialty-
line
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The Marketing Research Process
Define the problem
Develop research plan
Collect information
Analyze information
Present findings
Makedecision
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Step 1: Define the Problem
Define the problem
Specify decision alternatives State research objectives
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Step 2: Develop the Research Plan
DataSources
ContactMethods
ResearchInstruments
SamplingPlan
ResearchApproach
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Research Approaches
Observation
Focus Group
Survey
Behavioral Data
Experimentation
Ethnographic
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Focus Group in Session
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Research Instruments
QuestionnairesQualitative MeasuresTechnological Devices
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Questionnaire Dos and Donts
Ensure questions arefree of bias
Make questions simple
Make questions specific Avoid jargon
Avoid sophisticatedwords
Avoid ambiguous words
Avoid negatives
Avoid hypotheticals
Avoid words that could
be misheard Use response bands
Use mutually exclusivecategories
Allow for other in fixedresponse questions
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Question TypesDichotomous
In arranging this trip, did you contactAmerican Airlines?
Yes No
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Question TypesMultiple Choice
With whom are you traveling on this trip?
No one
Spouse
Spouse and children
Children only
Business associates/friends/relatives
An organized tour group
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Question TypesLikert Scale
Indicate your level of agreement with thefollowing statement: Small airlines generally givebetter service than large ones.
Strongly disagree
Disagree
Neither agree nor disagree
Agree
Strongly agree
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Question TypesSemantic Differential
American Airlines
Large ....Small
Experienced..Inexperienced
Modern...Old-fashioned
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Question TypesImportance Scale
Airline food service is _____ to me.
Extremely important
Very important
Somewhat important
Not very important
Not at all important
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Question TypesRating Scale
American Airlines food service is _____.
Excellent
Very good
Good
Fair
Poor
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Question TypesIntention to Buy Scale
How likely are you to purchase tickets onAmerican Airlines if in-flight Internet accesswere available?
Definitely buy
Probably buy
Not sure
Probably not buy
Definitely not buy
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Question TypesCompletelyUnstructured
What is your opinion of American Airlines?
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Question TypesWord Association
What is the first word that comes to your mindwhen you hear the following?
Airline ________________________
American _____________________
Travel ________________________
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Question TypesSentence Completion
When I choose an airline, the most importantconsideration in my decision is:
_____________________________________
____________________________________________________________________________________________________________________________________________________
_______________________________________________________.
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Question TypesStory Completion
I flew American a few days ago. I noticed that
the exterior and interior of the plane had verybright colors. This aroused in me the following
thoughts and feelings. Now complete the story._____________________________________________________________________________________________________________________
_____________________________________________________________________________________________________________________
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Question TypesPicture(Empty Balloons)
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Question TypesThematicApperception Test
Make up a story that reflects what you think ishappening in this picture.
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Qualitative Measures
Word Association
Projective Techniques
Visualization
Brand Personification
Laddering
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Technological Devices
Galvanometers
Tachistoscope
Eye cameras
Audiometers
GPS
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Nielsen Outdoor Leverages GPS toTrack Billboard Reach
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Sampling Plan
Sampling unit: Who is to be surveyed?
Sample size: How many people should besurveyed?
Sampling procedure: How should the
respondents be chosen?
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Table 4.2 Types of Samples
Probability Samples
Simple random
Stratified random
Cluster
Nonprobability Samples
Convenience
Judgment
Quota
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Contact Methods
Mail Questionnaire
TelephoneInterview
PersonalInterview
OnlineInterview
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Pros and Cons of Online Research
Advantages
Inexpensive
Fast
Accuracy of data,even for sensitivequestions
Versatility
Disadvantages
Small samples
Skewed samples
Technologicalproblems
Inconsistencies
Wh t i
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What is aMarketing Decision Support System
(MDSS)?
A marketing decision supportsystem is a coordinated collection ofdata, systems, tools, and techniqueswith supporting hardware and softwareby which an organization gathers andinterprets relevant information from
business and environment and turns itinto a basis for marketing action.
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Barriers Limiting the Use ofMarketing Research
A narrow conception of the research
Uneven caliber of researchers
Poor framing of the problem Late and occasionally erroneous
findings
Personality and presentationaldifferences
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Typical Problems in Rural Research
Low literacy levels require innovations inquestionnaire design scales Wide geographical dispersion requires long
travels
A large number of languages and dialects,requiring multiple translations
Non-availability of working population atnormal places of residence
Poor access to women respondents Villages layout based on caste lines,
requiring innovative sampling
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Table 4.3 Characteristics ofGood Marketing Research
Scientific method
Research creativity
Multiple methods Interdependence
Value and cost of information
Healthy skepticism
Ethical marketing
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What is Marketing Metrics?
Marketing metrics is the set ofmeasures that helps marketersquantify, compare, and interpret
marketing performance.
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Table 4.4 Marketing Metrics
External Awareness
Market share
Relative price
Number of complaints
Customer satisfaction
Distribution
Total number ofcustomers
Loyalty
Internal Awareness of goals
Commitment to goals
Active support
Resource adequacy
Staffing levels
Desire to learn
Willingness to change Freedom to fail
Autonomy
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What is Marketing-Mix Modeling?
Marketing-mix models analyze datafrom a variety of sources, such as
retailer scanner data, company
shipment data, pricing, media, andpromotion spending data, to understand
more precisely the effects of specific
marketing activities.
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Marketing Dashboards
A customer-performance scorecardrecords how well the company is doingyear after year on customer-basedmeasures.
A stakeholder-performancescorecard tracks the satisfaction ofvarious constituencies who have a
critical interest in and impact on thecompanys performance includingemployees, suppliers, banks,distributors, retailers, and stockholders.
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Table 4.5 Sample Customer-PerformanceScorecard Measures
% of new customers to average #
% of lost customers to average #
% of win-back customers to average #
% of customers in various levels of satisfaction
% of customers who would repurchase
% of target market members with brand recall
% of customers who say brand is mostpreferred
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Common Measurement Paths
Customer Metrics Pathway
Unit Metrics Pathway
Cash-flow Metrics Pathway
Brand Metrics Pathway
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Figure 4.2 Marketing MeasurementPathways
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Figure 4.3 Example of aMarketing Dashboard
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The Measures of Market Demand
Potential
Market
Penetrated
Market
Target
Market
Available
Market
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Vocabulary for Demand Measurement
Market demand
Market forecast
Market potential
Company demand
Company sales forecast
Company sales potential
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Figure 4.4 Ninety Types ofDemand Measurement
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Figure 4.5Market Demand Functions
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Figure 4.5Market Demand Functions
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Product Penetration Percentage
H C W E i
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How Can We EstimateCurrent Demand?
Total market potential
Area market potential
Market buildup method
Multiple-factor index method
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Table 4.6 Calculating theBrand Development Index (BDI)
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Estimating Future Demand
Survey of Buyers Intentions
Composite of Sales Force Opinions
Expert Opinion Past-Sales Analysis
Market-Test Method
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Marketing Debate
What is the best type of marketingresearch?
Take a position:1. Marketing research should be quantitative.
or
2. Marketing research should be qualitative.
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Marketing Discussion
When was the last time youparticipated in a survey?
How helpful do you think theinformation you provided was?
Could the research have been done
differently?