conducting marketing research & forecasting demand · 2020. 2. 4. · conducting marketing...
TRANSCRIPT
Conducting Marketing
Research & Forecasting
Demand
Chapter 4
Course Structure
Defining
Marketing
Strategic
Planning
Marketing
Research Segmentation
Marketing
Communications
Product
Strategies
Distribution
Channels
Pricing
Positioning
NPD Targeting
Marketing Strategic Planning and
the Marketing Information System
An open system is a system which continuously interacts with its environment. The interaction can take the form of information, energy, or material transfers into or out of the system boundary.
MIS is an open system that consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute information that is needed in timely and accurate manner to decision makers
The Marketing Information
System (MIS)
Internal
records
Marketing
Intelligence
Marketing
Decision
Support system
Marketing
Research
Marketing
Managers
Analyze
Plan
Implement
Control
Marketing
Environment
Target markets
Distribution
channels
Competitors
Public
Macro-
environmental
forces
Assessing
Information
Needs
Distributing
Information
The Components of a Modern
Marketing Information System
Developing Marketing
Information
A Marketing Intelligence System
– This is the systematic collection and analysis of publicly available information about competitors and development in the marketing environment
– The goal of marketing intelligence is to improve strategic decision making, assess and track competitors’ actions and provide early warning for opportunities and threats.
Marketing Research is the systematic design, collection, analysis and reporting of Data and findings relevant to a specific marketing situation facing the company.
Types of research firms:
– Syndicated-service research firms
– Custom marketing research firms
– Specialty-line marketing research firms
Developing Marketing
Information
The Marketing Research Process
Defining the Research Objectives
In the year 2001, Sekem company conducted a research on soymilk as a part of assessing the acceptance level of that new product before making the decision to introduce it.
In that process they developed three product concepts to serve as a base for that research, namely:
– Healthy non-animal protein source due to its low cholesterol level.
– Helps in weight loss due to its very low fat content
– Acts as a rich protein source for muscle building
Research Objectives
– What are the segments that may show interest in that
new product? And if so, which of them would show a
higher level of interest?
– What feedback may these segments have regarding the
taste?
– What flavors would be mostly preferred, if any?
– What kind of packaging would these segments prefer?
Defining the Research Objectives
Developing the Research Plan
1. Decide what type of data to collect:
Secondary data is information that already exists somewhere having been collected for another purpose. It provides the starting point at low cost and ready availability
Primary data when the needed data do not exist, dated, inaccurate, incomplete, or unreliable the company has to collect information for the specific purpose at hand
Developing the Research Plan
2. Decide on how to gather primary data
– Research Type: Descriptive Research seeks to ascertain magnitudes such as the market size, market growth rate, or market potential.
• Research Approach: Survey Research involves gathering primary data by asking people questions about their knowledge, attitudes, preference, and buying behaviors.
– Research Tool: Questionnaires, which involves two types of questionnaires:
• Close-ended questions measure how many people think in a certain way
• Open-ended questions provide insight on how people think
See text for complete table
1_____ 2 _____ 3_____ 4_____ 5_____
Small airlines generally give better service than large ones.
Strongly Disagree Neither agree Agree Strongly
disagree nor disagree agree
A statement with which the respondent
shows the amount of agreement/
disagreement.
Likert scale
An organized tour group Spouse and
children
Business associates/friends/relatives Spouse
Children only No one
With whom are you traveling on this flight?
A question with three or more
answers.
Multiple
Choice
In arranging this trip, did you personally phone American?
Yes No
A question with two
possible answers.
Dichotomous
Example Description Name
A. Closed-end Questions
Developing the Research Plan
Developing the Research Plan
2. Decide on how to
gather primary data
– Research Type:
Descriptive Research
• Research Approaches:
Behavioral Data
Collection where
customers leave traces
of their purchasing
behind. Much can be
learned by analyzing
these data.
Developing the Research Plan
2. Decide on how to gather primary data
– Research Type: Causal Research, which tests
hypotheses about cause-and-effect
relationships.
• Research Approach: Experimental Research,
which is the gathering of primary data by
selecting selective group of subjects, giving them
different treatments, controlling related factors,
and checking for differences in group responses
Developing the Research Plan
2. Decide on how to gather primary data – Research Type: Exploratory
• Research Approach: Observational Research involves gathering primary data by observing relevant people, actions, and situations.
– Research Instruments:
• Shadowing is observing people in their daily routine.
• Behavior mapping is photographing people with in a space to monitor their behavior.
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Developing the Research Plan
2. Decide on how to gather primary data
– Research Type: Exploratory Research gathers preliminary information that sheds light on the nature of the problem and suggests possible solutions.
• Research Approach: Focus Group Research
– Research Instrument: Discussion Guide
3. Prepare the Sampling Plan
Sampling Unit designates who is to be
surveyed.
Sample Size designates how many people
should be surveyed.
Sampling Procedure designates how should
the respondents be chosen.
• Probability sample:
• Non-probability sample:
Developing the Research Plan
Developing the Research Plan
3. Prepare the Sampling Plan
– Probability (random) sample:
• Random sampling refers to taking a number of independent
observations (subjects) from the same probability distribution,
without involving any real population.
• The sample usually is not a representative of the population of
people from which it was drawn— this random variation in the
results is termed as sampling error.
• In the case of random samples, mathematical theory is available
to assess the sampling error. Thus, estimates obtained from
random samples can be accompanied by measures of the
uncertainty associated with the estimate, confidence limits of
sampling error may be calculated
Developing the Research Plan
3. Prepare the Sampling Plan
– Types of probability (random) sample:
• A simple random sample is selected so that all samples of
the same size have an equal chance of being selected from
the entire population.
• Stratified sampling The population is divided into
mutually exclusive groups (such as age groups), and
random samples are drawn from each group
• Cluster sampling The population is divided into mutually
exclusive groups (such as city blocks), and the researcher
draws a sample of the groups to interview
Developing the Research Plan
3. Prepare the Sampling Plan
– Non-probability sample:
• Non-probability sampling techniques cannot be used to
infer from the sample to the general population.
• Performing non-probability sampling is considerably less
expensive than doing probability sampling, but the results
are of limited value.
• Should be used when the cost and time involved in
probability sample is too high
Developing the Research Plan
3. Prepare the Sampling Plan
– Types of non-probability sample:
• Convenience sampling. members of the population are chosen
based on their relative ease of access. To sample friends, co-
workers, or shoppers at a single mall, are all examples.
• Judgmental sampling The researcher chooses the sample based
on who they think would be appropriate for the study. This is
used primarily when there is a limited number of people that have
expertise in the area being researched.
• Case study - The research is limited to one group, often with a
similar characteristic or of small size.
• Snowball sampling - The first respondent refers a friend. The
friend also refers a friend, etc.
Contact Methods
– Mail questionnaire
• Response rate is low and/or
slow
• Respondents tend to give
more honest responses to
personal questions
• No interviewers involved to
bias the respondent’s answer
– Telephone interviewing
• Higher and quicker response
rate.
• Inconvenient to some people
• Unavailability of
respondents
Collecting Data
Contact Methods
– Personal interviewing
• Intercept interviews
• Arranged interviews
– Online Marketing
Research
• Surveys
• Online focus groups
Collecting Data
The Marketing Research Process
SPSS
GIDS
The Marketing Research Process
Research process
Set objectives
Design plan
Collect data
Analyze data
Secondary Primary
Descriptive research
Survey
Behavioral data collection
Qualitative
Focus group
Observational
Causal
Experimental
Mail Telephone
Personal interview Online
SPSS