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Lecture 2

MK 370 Lecture 2: Explaining the Marketing Research Process

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MK 370

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Anisha Manglani MK 370 03 Chapter 2 (CN): Explaining the Marketing Research Process September 19, 2014 Marketing Research Process (memorize these in their order!) 1. Establish the Need for Marketing Research o When is MR not needed? ▪ The info is already available. ▪ Decisions must be made now. ▪ We can’t afford research. ▪ Costs outweigh the value of MR. 2. Define the Problem o Poorly defined problem -> wrongly formulated info -> wrong research design -> collection and analysis of inappropriate info -> wrong marketing decisions or inadequate info to base marketing decisions on. 3. Establish Research Objectives: state what a researcher must do. o When achieved, research objectives provide the info necessary to solve the problem. 4. Determine Research Design: exploratory, descriptive, casual. o Exploratory Research: collecting information in an unstructured and informal manner. o Descriptive: set of methods and procedures describing marketing variables. o Causal Research: allows isolation of caused and effect; experiment. 5. Identify Information Types and Sources: primary vs. secondary. o Primary: information collected specifically for the problem at hand; complex
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