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Lecture 2

MKT 473 Lecture 2: MKT 473 Chapter 2 Notes

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MKT 473

MKT 473 Chapter 2 Notes The Marketing Research Process 1. Identification of the problem and statement of research objectives ➢ Problem identification and statement of objectives o Does it involve hypothesis or just a statement? 2. Creation of the research design ➢ Creation of the research design o Exploratory, descriptive, casual, planning, implementing, controlling 3. Choice of method of research ➢ Choice of research method o Primary/secondary – survey, focus groups, experiments, etc. 4. Selection of the sampling procedure ➢ Sampling selection/plan o Probability vs. nonprobability 5. Collection of the data ➢ Data collection o Personal, telephone, mail, Internet, etc. 6. Analysis of the data ➢ Data analysis o Level and scope must be determined early 7. Writing and presentation of the report ➢ Write and present the research report o Determine format, font, layout, PPTs, etc. 8. Follow-up ➢ Were recommendations followed? Is more research needed? Problem Definition Process 1. Recognize the problem or opportunity ➢ Can the problem become an opportunity? 2. Find out why the information is being sought ➢ Any suspect motives? 3. Understand the decision making environment ➢ Examine cultural and bureaucracy issues 4. Use the symptoms to help clarify the problem ➢ Determine cause and effect relationships 5. Translate management problem to marketing research problem ➢ Management support is key 6. Determine whether the information already exists ➢ Have you researched other research? 7. Determine whether the question can be answered ➢ Are the objectives clear and realistic 8. State the research objectives ➢ Include timetable and responsible party Research Hypothesis vs. Research Question • A research hypothesis: ➢ A conjectural statement about a relationship between two or more variables that can be tested with empirical data. A claim, or argument about your theory of what is causing “x” that you will research to prove or disprove: • “Sales are declining because of competition” • A research question: ➢ Questioning what Marketing Research Design • “The plan to be followed to answer the marketing research objective Descriptive Research Studies • Descriptive studies defined: ➢ Answer the, who what, where, when and how questions. It is used when one wants to gain a better understanding of the specifics or details the research issue • Purpose ➢ Confirm theories ➢ Brand loyalty measure ➢ Describe population ➢ Build customer profile ➢ Gain specific information • Key Methods: ➢ Secondary data ➢ Cross sectional surveys ➢ Longitudinal surveys ➢ Statistical data analysis Causal Research Studies • Causal studies defined: ➢ Research studies that examine whether the value of one variable causes or determines the value of another variable • Purpose: ➢ Confirm theories ➢ Identify cause and effect ➢ Relationships among variables
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