Week_2_Marketing Research & Marketing Research Process Flashcards
Growth of the Need for Marketing Research
Manufacturer products goods for distance market. They need to know distance market. Marketing needs growth Nielson started firm in 1922 Robert Merton create focus group
Evolution of the Marketing Research Industry
- Earliest questionnaire surveys began around 1824
- Charles Coolidge Parlin conducted the first continuous and organized marketing research in 1911 for the Curtis Publishing Company.
- The purpose of Parlin’s research was to increase advertising for The Saturday Evening Post magazine.
Top 5 countries spent on marketing
US, UK, German, France, China
What is marketing research?
Marketing Research as the function that links the consumer and the public to the marketer through INFORMATION
What are these information?
Used to identify and define market opportunities and problems.
Generate, refine, and evaluate marketing performance.
Monitor marketing performance.
Improve understanding of marketing as a process.
Marketing research is the systematic and objective
– identification – collection – analysis – dissemination – and use of information
What are two kinds of marketing research?
Problem identification research
Problem solving research
What are the research segmentations for problem solving research?
Production research
Promotion research
Price research
Distribution research
External suppliers definition
– Function- i.e. data analysis, data collection
– Type of research application-i.e. customer satisfaction, advertising effectiveness, new- product development
– Geography-i.e. domestic vs international
– Type of customer-i.e. health care, government, telecommunications
Full service suppliers
Syndicated data service firms: Collect information that is available to multiple firms. The information is provided in a standardized form (not tailored to any one company) to a large number of companies, known as a syndicate
Standardized service firm: Data collected for each firm is different but the method to collect data is standardized. Standardized services include: test marketing; selecting brand names for new products; measuring advertising effectiveness, etc.
Customized service firm: Offer a variety of research services tailored to meet the client’s specific needs
Online Research Service Firms: Specialize in providing services online to assist in any phase of the marketing research process including identification of the problem, research design, data collection, analysis, and report distribution
Limited Service Suppliers
Specialize in one or, at most, a few marketing research activities such as eye testing (eye tracking), mystery shopping, field services (data collection), or market segment specialists
What is field service of suppliers?
Specialize in collecting data. Typically operate in a particular area conducting telephone surveys, focus group interviews, mall- intercept surveys and door-to-door surveys
Criteria for Selecting a Research Supplier
- reputation
- do they complete projects on schedule?
- Are they known for maintaining ethical standards?
- Are they flexible?
- Are their research projects of high quality?
- Has the firm had experience with projects similar to this one?
- Do the supplier’s personnel have both technical and non-technical expertise?
- Can they communicate well with the client?
- Are the bids competitive on the basis of quality as well as price.
What are the challengers for international marketing research?
Differences in customs, communication, and culture. environmental factors: including marketing, government, legal, economic, structural, informational, technological, and sociocultural factors.
How can social media becomes a part of marketing research?
Should be used as complement and supplement (additional domain)
What are limitations of using social media
• standards for objectivity
• representation of the target population in many
marketing research applications.
• as a source of samples suffers from at least two biases: from self-selection and from advocacy.
Advantages of Mobile Marketing Research
- potential to reach a broader audience, get results faster, lower costs, and elicit higher quality responses.
- GPS and other location technologies can deliver surveys to target audience based on their current or past locations.
- appealing in many developing economies
Disadvantages of Mobile Marketing Research
- Surveys must be kept short, succinct, and simple.
- The questions that can be asked are definitely more limited than those suitable on web sites accessed by PC or other modes of survey administration.
- Another serious limitation is the use of video due to bad streaming and other technical difficulties.
- Sample representativeness.
The Marketing Research Process
1: Establish the need for Marketing Research
2: Define the Problem
3: Establish research objectives
4: Determine research design
5: Identify information types and sources
6: Determine methods of accessing data
7: Design data collection forms
8: Determine the sample plan and size
9: Collect data
10: Analyze data
11: Prepare and present the final research report
What leads the marketing research needs?
Inadequate information. If cannot get information from internal, must consider conduct marketing research
When is Marketing Research not needed?
Information is fully available. or no time, or no money.
What are the research value?
• It helps clarify problems or opportunities
• it identifies changes that are occurring in the
marketplace among consumers and/or competitors
• it identifies the best alternative to pursue among a set of proposed alternatives
• it helps your brand gain a competitive advantage
What is the most important step for market research process?
Problem identification
How to define the problem?
- In defining the problem, managers must first determine what decisions they must make.
- Secondly, they must ask if they have adequate information already available to them to make the decision.
- Managers should not conduct marketing research “just to know something” because marketing research takes times and money to conduct
