- Identify the five steps in the marketing research process,
- Describe the various secondary data resources,
- Describe the various primary data collection techniques,
- Summarize the difference between secondary data and primary data,
- Examine the circumstances in which collecting information on consumers is ethical.
I. The Marketing Research Process
Marketing Research: A set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.
- Step 1: Defining Objectives and Research Needs
- Step 2: Designing the Research
- Step 3: Data Collection Process
- Secondary Data: Pieces of information that have already been collected from other sources and usually are readily available. Include both external and internal data sources.
- Primary Data: Data collected to address specific research needs.
- Focus Groups
- In-Depth Interviews
- Surveys
- Sample: A group of customers that represent the customers of interest in a research study.
- Step 4: Analyzing Data and Developing Insights
- Data: Raw numbers or facts
- Information: Organized, analyzed, and interpreted data that offer value to marketers.
- Step 5: Action Plan and Implementation
- A typical marketing research presentation includes:
- Executive Summary
- The Body of Report
- Includes research Objectives
- Methodology
- Detailed Findings
- Conclusions
- Appropriate Supplemental Tables
- Figures
- Appendixes
II. Secondary Data
- Inexpensive External Secondary Data
- US Census Data
- Google Searches
- Syndicated External Secondary Data
- Syndicated Data: Data available for a fee from a commercial research firm
- Scanner Data: A type of syndicated external secondary data used in quantitative research that is obtained from scanner readings of UPC Codes at check-out counters.
- Panel Data: Information collected from a group of consumers.
- Internal Secondary Data
- Data Warehouses: Large computer files that store millions or billions of pieces of individual data.
- Data Mining: The use of a variety of statistical analysis tools to uncover previously unknown patterns in the data stored in databases or relationships among variables.
- Churn: The number of consumers who stop using a product or service, divided by the average number of consumers of that product or service.
III. Primary Data Collection Techniques
Quantitative Research: Informal research methods, including observation, following social media sites, in-depth interviews, focus groups, and projective techniques.
Qualitative Research: Structured responses that can be statistically tested to confirm insights and hypotheses generated via qualitative research or secondary data.
Quantitative Research: Informal research methods, including observation, following social media sites, in-depth interviews, focus groups, and projective techniques.
Qualitative Research: Structured responses that can be statistically tested to confirm insights and hypotheses generated via qualitative research or secondary data.
- Observation: An exploratory research method that entails examining purchase and consumption behaviors through personal or video camera scrutiny.
- Social Media
- Sentiment mining: Data gathered by evaluating customer comments posted through social media sites such as facebook and Twitter.
- In-Depth Interviews: An exploratory research method technique in which trained researchers ask questions, listen to and record the answers, and then pose additional questions to clarify and expand on a particular issue.
- Focus Group Interviews: A research technique in which a small group of persons (usually 8-12) comes together for an intensive discussion about a particular topic with the conversation guided by a trained moderator using an unstructured method of inquiry.
- Survey Research
- Survey: A systematic means of collecting information from people that generally uses a questionnaire.
- Questionnaire: A form that features a set of questions designed to gather information from respondents and thereby accomplish the researcher's objectives; questions can be either structured or unstructured.
- Structured Questions: Closed ended questions for which a discreet set of response alternatives, or specific answers, is provided for respondents to evaluate.
- Unstructured Questions: Open-ended questions that allow respondents to answer in their own words.
- Developing a Questionnaire is Part Art and Part Science
- Panel and Scanner Based Research
- Experimental Research: A type of conclusive and quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on another variable.
- Advantages and Disadvantages of Primary and Secondary Research
- Secondary Research
- Examples
- Census Data
- Sales Invoices
- Internet Information
- Books
- Journal Articles
- Syndicated Data
- Advantages
- Saves time in collecting data because they are readily available
- Free or inexpensive ( except for syndicated data)
- Disadvantages
- May not be precisely relevant to information needs.
- Information may not be timely.
- Sources may not be original, and therefore usefulness is an issue.
- Methodologies for collecting data may not be appropriate.
- Data sources may be bias.
- Primary Research
- Examples
- Observed Consumer behavior
- Focus group interviews
- Surveys
- Experiments
- Advantages
- Specific to the immediate data needs and topic at hand.
- Offers behavioral insights generally not available from secondary research.
- Disadvantages
- Costly
- Time consuming
- Requires more sophisticated training and experience to design study and collect data.
IV. Emerging Technology and the Ethics of Using Customer Information
- Biometric data: Digital scanning of the behavioral or physiological characteristics of individuals as a means of identification.
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