4.3 Marketing Research Flashcards
Definition of Marketing Research
Marketing research:
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
What is “just-in-time” research?
Today’s fast and agile decision making often calls for fast and agile marketing information and research—call it just-in-time research
Why is Traditional research in danger?
Traditional research is in danger of being not only slower but also less insightful than other sources of information.”10 Marketing researchers must adjust to the new pace of information.
Although its role is changing, traditional marketing research is still widely used and very important. Why is this?
For many marketing decisions, information quality and rigour are more important than speed, convenience, and lower cost.
The traditional research approaches, although often more time-consuming and expensive, can allow for deeper, more focused probing, especially into the whys and wherefores of consumer attitudes and behaviour.
The marketing research process has four steps. What are they?
- Defining the problem and research objectives
- Developing the research plan,
- Implementing the research plan, and
- Interpreting and reporting the findings.
Figure 4.2 The Marketing Research Process
What happens after a problem has been defined carefully?
After the problem has been defined carefully, the manager and the researcher must set the research objectives.
Definition of Exploratory research.
Exploratory research;
Marketing research to gather preliminary information that will help define problems and suggest hypotheses.
Definition of Descriptive Research.
Descriptive research:
Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers.
Definition of Causal Research
Causal research:
Marketing research to test hypotheses about cause-and-effect relationships.
What happens once researchers have defined the research problem and objectives?
Once researchers have defined the research problem and objectives, they must determine the exact information needed, develop a plan for gathering it efficiently, and present the plan to management.
What kind of information might marketing research call for?
The demographic, economic, and lifestyle characteristics
The characteristics and usage patterns of the broader population
How should a research plan be presented?
As a written proposal
Definition of Secondary Data
Secondary data:
Information that already exists somewhere, having been collected for another purpose.
Definition of Primary Data
Primary data:
Information collected for the specific purpose at hand.
Where can you collect seconday data from?
The company’s internal database provides a good starting point.
However, the company can also tap into a wide assortment of external information sources.
Using commercial online databases, marketing researchers can conduct their own searches of secondary data sources.
Beyond commercial services offering information for a fee, almost every industry association, government agency, business publication, and news medium offers free information to those tenacious enough to find their websites or apps.
Internet search engines can also be a big help in locating relevant secondary information sources.
Secondary data can also present problems….
Researchers can rarely obtain all the data they need from secondary sources.
Even when data can be found, the information might not be very usable.
The researcher must evaluate secondary information carefully to make certain it is
- Relevant (fits the research project’s needs),
- Accurate (reliably collected and reported),
- Current (up to date enough for current decisions),
- Impartial (objectively collected and reported).
Designing a plan for primary data collection calls for:
- Decisions on research approaches
- Contact methods
- The sampling plan
- Research instruments
Table 4.1 Planning Primary Data Collection
What are the different research approaches for gathering primary data?
Research approaches for gathering primary data include observation, surveys, and experiments. We discuss each one in turn.
Definition of Observational Research
Observational research:
Gathering primary data by observing relevant people, actions, and situations.
Definition of Ethnographic research
Ethnographic research:
A form of observational research that involves sending trained observers to watch and interact with consumers in their “natural environments.”
Professionals imbed themselves within a specific group (Like a tribe or different group of people)
Definition of Survay research
Survey research:
Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behaviour.
What is Survay research best suited for?
Survey research is best suited for gathering descriptive information. A company that wants to know about people’s knowledge, attitudes, preferences, or buying behaviour can often find out by asking them directly.
What is the major advantage of survay research?
The major advantage of survey research is its flexibility; it can be used to obtain many kinds of information in many different situations.
Surveys addressing almost any marketing question or decision can be conducted by phone or mail, online, or in person.
Probability samples
Non probability samples
