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Chapter 4

Marketing Chapter 4 Notes.docx

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Ryerson University
MKT 100
Laila Rohani

Marketing Lecture Notes Week 4/Textbook notes Chapter 4 The Marketing Research Process Managers consider several factors before embarking on a marketing research project. Because research is both expensive and time-consuming, it is important to establish in advance exactly what information in required answering specific research questions, and how that information should be obtained. Step 1: Define the Research Problem and Objectives: Correctly defining the marketing problems is one of the most important elements of the marketing research process. Some marketing researches claim that this aspect is the most difficult of the marketing research process. Marketing research efforts and resources can be wasted if the research objectives are poorly defined. Poor design arises from three major sources: basing research on irrelevant research questions, focusing on research questions that marketing research cannot answer, or addressing research questions to which the answers are already known. However, timely and focused marketing research could help companies refine their marketing efforts and campaigns. Step 2: Design the research project: In this step, researchers identify the type of data needed and determine the type of research necessary. Identifying the type of data needed for the first purpose – determining relative market share --- is fairly straightforward. The marketers must decide whether the data required to make a decision should be obtained from secondary resources or primary resources. Secondary Data: pieces of information that have been collected prior to the start of the focal research project. Secondary data include both external and internal data sources. A marketing research project often begins with a review of the relevant secondary data. Secondary data might come from free or very inexpensive external sources such as census data, information from trade associations, the Internet, books, journal articles, and reports published in magazines and newspapers. Sometimes, however, secondary data are not adequate to meet researcher needs. External secondary data is called syndicated data – which are data available for a free from commercial research firms such as Symphony IRI Group, National Purchase Diary Panel, Nielsen and Leger Marketing. Primary Data: Data collected to address the specific research needs/questions currently under investigation. Marketers collect primary data by using a variety of means, such as observing consumer behaviour, conducting focus groups, or surveying customers by using the mail, telephone, in-person interviews, or the Internet. A major advantage of primary research is that it can be tailored to fit the research questions; however, it also has its own set of disadvantages. It is usually more costly than secondary research and more time- consuming. Data collection through primary research required that the researcher makes several important decisions. These decisions include which method to use, what types of sampling plan is best in light of the research objective, what types of research instruments. Simply, put reliability is the extent to which you will get the same result if the study is repeated under identical situations. Three important questions that must be answered are (1) who should be surveyed, (2) how big should the sample be, and (3) what types of sampling procedure to use. Step 3: Collect Data: Depending on the nature of the research problem, the data collection method can employ either as exploratory or a conclusive research method. Exploratory research attempts to begin to understand the phenomenon of interest; it also provides initial information that helps the researcher more clearly formulate the research problem or objectives. Conclusive research provides the information needed to confirm those insights and which managers can use to pursue appropriate courses of action. Conclusive research also enables researchers to test their prediction or hypothesis, which is a statement or proposition predicting a particular relationship among multiple variables. Exploratory (Qualitative) Research Methods Observation: e
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