Introduction

Question 1

What to do with Research Problems?

Answer 1

Identify and Formulate

Question 2

Different Research Designs

Answer 2

Exploratory
Descriptive
Causal

Question 3

Steps of Research Implementation

Answer 3

1. Data Collection Method and Sample
2. Data Collection
3. Analysis and Interpretation

Question 4

Three Main Topics of Market Research

Answer 4

Generating (Insights to Concept)
Developing (Concept to Product)
Monitoring (Product to Money)

Question 5

Purpose of Market Research

Answer 5

Obtain (bekommen) customer insights (Verständnis) to help managers to make better decisions. Choice of tools depends on the problem to be solved

Question 6

What concept of Market Research?

Answer 6

• Systematic gathering and interpretation of information about individuals or organisations
• using statistical and analytic methods and techniques of the applied social sciences
• to gain insight or support decision making

Question 7

Different TYPES of Market Research?

Answer 7

Ad Hoc -> to deal with a specific issue

Programmatic -> returning research

Question 8

When is Market Research conducted?

Answer 8

When there is uncertainty about what to do

The uncertainty should be balanced against the costs of conducting market Research

Question 9

Complementary approaches to Market Research?

Answer 9

Research Projects

Information Systems

Question 10

Providers of Market Research

Answer 10

Internal
External -> Full/Limited Service
Full -> Syndicated Data/Customized Services
Limited -> Segment Specialists/Field Service/Specialized

Question 11

Sources of MR - PROBLEMS

Answer 11

Unanticipated Change - (in internal/external environment)
Planned Change - (growth plans -> products, services)
Serendipity („Antizipation)- (Change ideas -> from RnD, Sales..)

=> Marketing sympton can be a problem as well as a chance

Question 12

Tasks of a Market Researcher

Answer 12

• Translates the decision problem into a research problem

- Makes sure the real problem is adressed and not only the symptoms

Question 13

What is Research Design?

Answer 13

• Plan for a study

- used as a guide in collecting and analyzing data

Question 14

What is the use of Research Design?

Answer 14

• Ensures the study is relevant to the problem

- Helps to limit the project costs

Question 15

3 Research Designs for different problems

Answer 15

Ambiguous (mehrdeutig) Problem -> Exploratory Research
Somewhat defined Problem -> Descriptive Research
Clearly defined Problem -> Causal Research

Question 16

Steps of application of exploratory research

Answer 16

Generate Hypotheses
Develop measure instruments
Understand structure

Question 17

3 steps of Application of Descriptive Research

Answer 17

Understand the Market size
Segmentation
Measure archievement

Question 18

2 Steps of Applications of Causal Research

Answer 18

Confirm and Quantify Correlations

Simulate Change in Marketing Mix

Question 19

5 Methods of Exploratory Research

Answer 19

Literature Search
Focus Groups
Personal Interviews
Observational Studies
Ethnographic Studies

Question 20

3 Methods of descriptive research

Answer 20

One-time survey
Longitudinal survey
Panel studies

Question 21

3 Methods of Causal Research

Answer 21

Laboratory studies
Field studies (incl test markets)
Designs with a high control of the independent variable

Question 22

Task and role of Research Projects

Answer 22

-> Executed to address specific marketing Problems

=> Play a major role when actionable information is required (new product/campaign)

Question 23

Task and Role of Information Sytsems

Answer 23

Continuous monitoring of consumers and market behavior; Databases; Systems are called CRM (Customer Relationship Management)
=> work as a early warning system -> dont provide enough information for specific situations

Question 24

Never conduct Market research, if…

Answer 24

… Decision is already made

… Decision needs to be taken at an instant