Week 2Week 2

Topic 3: Marketing Research,

Information and Forecasting

Marketing research

The systematic design, collection, analysis, and reporting of

data relevant to a specific marketing situation facing an

organization.

“Research is an art, an art of telling a story and making

sure that it involves a pertinent topic, sound theoretical

framework and of course, is making a contribution to

the development of the field.”2

Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

and Forecastingand Forecasting

The Marketing Research process

1) Defining the problem and research objectives

“A well defined problem is half-solved.”- Don’t confuse problem with symptom.

Three types of objectives:Exploratory research: to gather preliminary information that will help define problems and suggest hypothesis.Descriptive research: to better describe marketing problems, situations and markets.Causal research: to test hypothesis about cause-and-effect relationship.

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Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

and Forecastingand Forecasting

The Marketing Research process (cont.)2) Developing the research plan for collecting information Determining specific information needs Gathering secondary information

Secondary data Primary data Online database

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Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

and Forecastingand Forecasting

The Marketing Research process (cont.)Advantages and disadvantages of secondary dataPlanning primary data collection

Observational research (Explorative information) Survey research (Descriptive information) Experimental research (Casual information)

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Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

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The Marketing Research process (cont.)Contact method

Mail, telephone, personal (Individual, focus group), Online

Sampling Plan Sample: A segment of the population selected for marketing research

to represent the population as a whole.

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Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

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The Marketing Research process (cont.)It requires three decisions:

who is to be surveyed (Sampling unit) How many people to be surveyed (Sampling size) How should the people in the sample be chosen (Sampling procedure)

Research instrument: Questionnaire and mechanical device

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Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

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3) Implementing research plan

  Interpreting and reporting the findings.

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Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

and Forecastingand Forecasting

Estimation of Consumer Demand

The estimation of demand is a crucial concept in respect to

marketing research and the search for information and

knowledge about the market.

Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

and Forecastingand Forecasting

Methods of Estimating Consumer DemandHeuristic estimation methods

1. The chain ratio method2. Standard industrial classification method3. Index of buying power method

Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

and Forecastingand Forecasting

Subjective estimation methods

1. Delphi method2. Sales force composite method3. Demand estimation through buyer intentions

Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information

and Forecastingand Forecasting

Thank You!Thank You!