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TheMarketingResearch

Consumer & Market Knowledge

Marketing Researchis the systematic

design, collection, analysis, andreporting of data and findingsrelevant to a specific marketing

situation facing the company.

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The

MarketingResearch

Process

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MarketingResearchSystem

The Marketing Research Process

Step 1: Define the Problem, the Decision

Alternatives, and the Research Objectives

Must be careful not to define the problem toobroadly or to narrowly.

Example: Offering New First Class Service

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The Marketing Research Process

Step 2: Develop the Research Plan

Data Sources secondary/ primary data Research Approaches

Observational research -

Focus group research

Survey research

Behavioral data purchasing behaviour/ direct

marketing

Experimental research to capture cause and effects

relationship/ can explain the results.

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Research Instruments

Questionnaires closed-end/ opened

questionnaires Quantitative measures unstructured

measurement approaches.

Mechanical Devices technology media/

diaries

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MarketingResearchSystemClosed-end Questions

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Sampling Plan

Sampling unit Who is to be surveyed?

Sample size How many people should besurveyed?

Sampling procedure How should the

respondents be chosen?


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Probability Sample

Simple random sample Every member of the population has an

equal chance of selection

Stratified random

sample

The population is divided into mutually

exclusive groups (such as age groups),and random samples are drawn from

each group

Cluster (area) sample The population is divided into mutually

exclusive groups (such as city blocks),

and the researcher draws a sample ofthe groups to interview

Probability and Nonprobability Samples

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Nonprobability

Sample

Convenience sample The researcher selects the most

accessible population members

Judgment sample The researcher selects populationmembers who are good prospects for

accurate information

Quota sample The researcher finds and interviewsa prescribed number of people in

each of several categories

Probability and Nonprobability Samples

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Contact Methods

Mail questionnaire

Telephone Interview

Personal interviewing

Online interview


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Step 3: Collect the Information

Step 4: Analyze the Information

Step 5: Present the Findings

Step 6: Make the Decision


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Overcoming barriers to the use

of marketing researchA narrow conception of the research

Uneven caliber of researchers

Poor framing of the problem

Late and occasionally erroneous findings

Personally and presentational differences

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Measuring marketing

productivity Marketing Metrics is the set of measures

that helps firms to quantify, compare, and

interpret their marketing performance.

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Copyright 2009 Pearson Education,

Inc. Publishing as Prentice Hall4-18

Table 4.4 Marketing MetricsExternal Awareness

Market share

Relative price

Number of complaints

Customer satisfaction

Distribution

Total number ofcustomers

Loyalty

Internal Awareness of goals

Commitment to goals

Active support

Resource adequacy

Staffing levels

Desire to learn

Willingness to change Freedom to fail

Autonomy

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Marketing Dashboards A customer-performance scorecard

records how well the company is doing yearafter year on customer-based measures.

A stakeholder-performance scorecard

tracks the satisfaction of variousconstituencies who have a critical interest inand impact on the companys performanceincluding employees, suppliers, banks,

distributors, retailers, and stockholders.

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Table 4.5 Sample Customer-Performance

Scorecard Measures

% of new customers to average #

% of lost customers to average #

% of win-back customers to average #

% of customers in various levels of satisfaction

% of customers who would repurchase

% of target market members with brand recall

% of customers who say brand is mostpreferred

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Measuring Marketing Plan

Performance Sales Analysis

Market share analysis

Marketing expense to sales analysis

Financial analysis

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What is Marketing-Mix

Modeling?Marketing-mix models analyze data from

a variety of sources, such as retailer

scanner data, company shipment data,pricing, media, and promotion spending

data, to understand more precisely the

effects of specific marketing activities.

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One major reason to conduct MR is to identifymarketing opportunities/ measure and forecast thesize/ growth and profit potential etc.Market Demand: total volume for the product that would

be bought be defined customer group.

Market Forecast: marketing expenditure of industry willactually occur.

Market Potential: expect market demand

Company Demand: company estimated share of marketdemand

Company Sales Forecast: expected company sales

based on a chosen marketing plan

ForecastingandDemand

Measurement

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The measures of Market

Demand Potential market

Available market

Target market

Penetrated market

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Estimating Current Demand

Total Market Potential

Area Market Potential (for company)

Estimating Future Demand

Survey of buyers intention

ForecastingandDemand

Measurement

Documents

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