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Chapter 7

chapter 7

7 Pages
117 Views

Department
Management (MGM)
Course Code
MGMA01H3
Professor
Ingrid L.Stefanovic

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INTRODUCTION
Some sources of marketing information flow throughout a company are like sales-force
reports, accounting data and other internal statistics
Marketing Research is the systematic gathering, recording, and analyzing of data about
problems relating to the marketing of goods and services
oLinks consumer to company
oSpecifies the information required to address issues, design the method for
collecting data, manages and implements the data collection process, analyzes the
results, and communicates the findings and their implications
Marketing research does NOT make the decision for managers it makes it easier for the
manager to engage in decision making
Two basic types of marketing research organizations that a firm may use
oA full or partial – service research supplier
Full – service firms handle all aspects of the research
Partial – service specializes in some activity
oSyndicated Service
Provides a standardized set of data on a regular basis to all who wish to
buy it
The types of Marketing Research studies that are conducted by the Gillette Company
oAnnual National Consumer Studies: determine what brand of razor and blade was
used for the respondents’ last shave
oNational Brand Tracking Studies: track the use of razors and blades to monitor
brand loyalty and brand switching tendencies over time
oAnnual Brand Awareness Studies: determine the “share of mind” Gillette products
have
oConsumer Use Tests: ensure that Gillette remains state of the art in the
competitive arena. In the tests, consumers are asked to use a single variation of a
product for an extended time and evaluate it
oContinuous Retail Audits: provides top management with monthly market share
data
oLaboratory Research Studies: test performance of existing Gillette products and to
help in the design of new products
Marketing research helps define target markets
The process of generating, analyzing, and transmitting the information is a core part of
marketing research.
THE MARKETING RESEARCH PROCESS
Marketing Research in Action
5 Basic Steps in the marketing research process
oFormulate the problem
oDevelop the research design
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oDetermine the data collection method
oCollect the data
oAnalyze, interpret, and present the information
Formulate the Problem
Problems are barriers that prevent the accomplishment of organizational goals
Clearly defined problems are key to help solve it
Easy to pinpoint the business problem, however, it is often difficult to determine the
specific problem
Typical Question to ask
oWhat is the purpose of the study? To solve a problem? Identify an opportunity?
oIs additional background information necessary?
oWhat information is needed to make the decision at hand
oHow will the information be used
oShould research be conducted
Do Exploratory Research
oCan help formulate the problem
oExploratory Research is learning about the problem area, and beginning to focus
on specific areas of study by discussing the problem with informed sources within
the firm (a process often called situational analysis) and with knowledgeable
others outside the firm (the informal investigation)
oInvolves evaluating company records, such as sales and profits of its own and
competitor’s products
Formulate Hypothesis
oHypothesis is a tentative explanation about the relationship between variables as a
starting point for further testing
Provides a basis for investigation and an eventual determination of its
accuracy
Develop the Research Design
Should be a comprehensive plan for testing the hypothesis formulated about the problem
Research Design is a series of advance decisions that, taken together, make up a master
plan or model for conducting the investigation
oAllows the researcher to control each step of the research process
Typical Questions asked
oHow much is already known?
oCan a hypothesis be formulated?
oWhat types of questions need to be answered?
oWhat type of study will best address the research question?
Determine the Data Collection Method
Significant issues to be dealt with here
oCan existing data be used to advantage?
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Description
INTRODUCTION Some sources of marketing information flow throughout a company are like sales-force reports, accounting data and other internal statistics Marketing Research is the systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services o Links consumer to company o Specifies the information required to address issues, design the method for collecting data, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications Marketing research does NOT make the decision for managers it makes it easier for the manager to engage in decision making Two basic types of marketing research organizations that a firm may use o A full or partial service research supplier Full service firms handle all aspects of the research Partial service specializes in some activity o Syndicated Service Provides a standardized set of data on a regular basis to all who wish to buy it The types of Marketing Research studies that are conducted by the Gillette Company o Annual National Consumer Studies: determine what brand of razor and blade was used for the respondents last shave o National Brand Tracking Studies: track the use of razors and blades to monitor brand loyalty and brand switching tendencies over time o Annual Brand Awareness Studies: determine the share of mind Gillette products have o Consumer Use Tests: ensure that Gillette remains state of the art in the competitive arena. In the tests, consumers are asked to use a single variation of a product for an extended time and evaluate it o Continuous Retail Audits: provides top management with monthly market share data o Laboratory Research Studies: test performance of existing Gillette products and to help in the design of new products Marketing research helps define target markets The process of generating, analyzing, and transmitting the information is a core part of marketing research. THE MARKETING RESEARCH PROCESS Marketing Research in Action 5 Basic Steps in the marketing research process o Formulate the problem o Develop the research design www.notesolution.com
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