Lecture 4 - Marketing Research Flashcards
What does marketing research Intro
Systematic & objective process of gathering information to aid marketing decisions
- not slopily/hurried
- carried out accurately
- without bias
-Aids marketing decisions not a substitute
What does marketing research include?
Specifying information to gather
- method for gathering
- data collection
- analysis of results
- communication of the findings and implications
What is purpose of marketing research?
Reduce uncertainty
Facilitate marketing decisions
Marketing research purposes/functions
Exploratory
Descriptive
Causal
What is exploratory research?
Used to clarify ambiguous problems
Examples: Secondary research, focus groups, interview, observation
What is Descriptive research?
Describes characteristics of the population of interest
Can include level of cust. need, attitudes, and satisfaction
What is causal research?
Follows exploratory & Descriptive research
Describes the relationship between the variables
Main goal: identify cause and effect
What are the steps in the marketing research process?
- identify problem
- create a design
- Choose a method
- Choose a sampling procedure
- Collect the data
- Analysis of the data
- Write/present report
- Follow up
Mkt Research: 1. Identify the problem
Defines problem, sets out data to be collected, method fo the used. Exploratory research
Mkt Research: 2. Creation of resarch design
Specify methods and procedure for collecting/analysing data
Descriptive/causal research
Mkt Research: 3. Choice of research method
Primary/secondary data collection
Mkt Research: 4. Selection of sampling procedure
Define population of interest
Sample Size?
Probability vs non-probability
Mkt Research: 5. collection of the data
Pretest/main study phase
Mkt Research: 6. Analysis of the data
Use computer programs to analyse
Stats. Frequencies, percentages, differences, relationships between variables, trends
Interpret and draw conclusions
Mkt Research: 7. Writing and presentation
Communicate process used, results, and conclusions
Emphasize findings - charts/graphs
