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Marketing Research
Hillary Jenkins, Otago Polytechnic 2008
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DefinitionDefinition
• The systematic and objective search for information
relevant to the identification and solution of any
problem in the field of marketing
• Key words
– Systematic and objective
What is it?What is it?
• Consists of activities that enable an organization
to obtain the information it needs to make
decisions about its:
– Environment
– Marketing Mix
– Present or potential customers
ObjectivesObjectives
• Identify markets
• Characteristics of markets
• Market trends
• Market changes
• Market opportunities/threats
• Effectiveness of marketing activities
• Analysis of competition
MethodsMethods
SWOT analysis
Strengths
Weaknesses
Opportunities
Threats
MethodsMethods
• Secondary information
• Primary information
• Quantitative
• Qualitative
• Internal to organization
• External to organization
Research Data
• Secondary data is information which has already been gathered
• It is secondary because its use is not purpose for which it was gathered
• Sources
– Government agencies
– International data bases
– Own organization
– Financial institutions
Research DataResearch Data
• Primary data is collected from original sources for
the purpose of study
– Three ways to do this:
• Observation
• Experiment
• Survey
Need to ask four questionsNeed to ask four questions
• Is the information relevant?
• Is it current or obsolete?
• How accurate is it?
• How credible is the source of the data?
Marketing Research InformationMarketing Research Information
• Is either:
– Quantitative
or
– Qualitative
QuantitativeQuantitative
[Dibb, Simkin, Pride and Ferrell 1997]
• This is hard data
“research aimed at producing data that can be statistically analyse and results that can be
expressed numerically.”
QualitativeQualitative
This is soft data
‘research that deals with information too difficult or
expensive to quantify such subjective opinions and
value judgements, typically unearthed during
interviews or discussion groups.’
[Dibb, Simkin, Pride and Ferrell, 1997]
TechniquesTechniques
• Surveys
• Questionnaires
• Personal interviews
• Focus groups
• Observation
• Telephone interviews
• Mail interviews
• Experiments
• Test marketing
ResearchResearch
Can be either
• Internal = information gathered from within the company
Or
• External = information gathered from outside the company
ResearchResearch
• Continuous
– Carried out to determine long term trends
• Ad hoc
– Carried out for a particular purpose
Conducting Market ResearchConducting Market Research
1. Establish purpose or aim of research (objective)
2. Determine information requirements
3. Select suitable methods/techniques
4. Conduct research
5. Collate, analyse and interpret data
6. Report the findings