The Process of Gathering and Interpreting Data for Use in Developing, Implementing, and Monitoring Firms’ Marketing Plans.
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Mark 3220:Marketing Research:The process of gathering and interpreting data for use in developing, implementing, and monitoring firms’ marketing plans.→decision making→reduces uncertaintyDescribe (situations, markets, relationships)→Understand (processes, causes)→Predict (Outcome)Research has its limitations:Example: New cokeWrong questions were asked in the researchSymbolic value and emotional factor were ignoredSocial influence matterResearch is valuable if it is RelevantTimelyAccurateCost effectiveLimitations:Can reduce but not eliminate uncertaintyDoes not replace decision makingPay careful attention to the assumptionMarketing function → understand consumers and their needsMarketing Research Process:Problem formulation→Decision problem, Research problemResearch design→ Exploratory research, Descriptive research, Causal researchData collection→Primary data, Secondary data (before problems are clear and know how to answer problems)Analysis and interpretationReporting results Decision problem  Research problemManager perspectiveResearcher perspectiveBroadSpecificAction/decision orientedInformation orientedMore subjectiveMore objective
Three types of research designMethodsCharacteristicsUseful forTypes of researchExploratoryGoal:To gain insights and ideas to identify or redefine problems.To understand exactly what information is needed by managers to make important decisions.To generate hypotheses about the key aspects of a problemTo increase researchers’ familiarity with the problem To clarify conceptsCase studiesFocus groupQualitative researchFlexible Versatile (通用的)Not conclusiveDiscovery of ideas and insights.It will be used when the problem to be solved is broad or vague.Not overly complex1) Literature search (quick and cheap)(the first step to conduct exploratory research)2) Depth interview3) Focus group4) Case analyses5) Projective methodsFocus group:→E.G. the revenue of a firm is declining, it can help finding the reason1) Generate ideas2) Understandconsumer needs and attitudes3) Predict the effects of social influence4) Test comprehension of promotional materials →product or package design, brand logo, adsParticipants:6-12membersavoid power differentialsheterogeneitystrangersEthnographic Observation:→ generate insights based on real behavior rather than on what ppl say→detect new fashions Descriptive 1) To describe group characteristic. →demographics, behavior, personality, attitude, motivatione.g. HK smartphone users2) To describe the relationship between variables→android vs IOS3) To make specific predictions→using data source e.g. Secondary and PrimarySurvey PanelsScanner data→ (Secondary data)PreplannedStructuredConclusiveDescribe market characteristics or functionsCausalThree elements:1) concomitant variation2) precedence3) systematic elimination of other possible factorsexperimentsManipulation and control of variablesDetermine cause and effect relationshipe.g. will…improve sales?Will it be popular if….?