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Chapter 7

Management and Organizational Studies 2320A/B Chapter 7: Chapter 7


Department
Management and Organizational Studies
Course Code
MOS 2320A/B
Professor
Ben Marcus
Chapter
7

This preview shows pages 1-2. to view the full 8 pages of the document.
MARKETING RESEARCH
A set of techniques and principals for systematically collecting, recording,
analyzing, and interpreting data that can aid decision makers involved in
marketing
-
Can help with segmentation, positioning, and marketing mix decisions
-
Key to understanding consumer behaviour
-
Helps to reduce uncertainty
-
Provides a crucial link between firms and their environments
-
Allows them to be customer oriented
-
Anticipate and respond quickly to competitive moves
-
Identify emerging opportunities and changes in the external environment
-
THE MARKETING RESEARCH PROCESS
Factors to consider before embarking on a marketing research project…
Will the research be useful?
Will it provide insights beyond what the managers already know and
reduce uncertainty association with it?
Is top management committed to the project and willing to abide by the
results of the research?
Should the marketing research project be small or large?
-
*see exhibit 7.1
Sometimes researchers go back and forth between steps
-
Important to plan the entire project in advance
-
Step 1: Define the Research Problem and Objectives
Most important and possibly most difficult
-
Resources can be wasted if the objectives are ill-defined
-
Need to separate the symptoms of the problem from the actual problem
-
Step 2: Design the Research Plan
Identify the type of data needed and the type of research necessary to collect it
-
See exhibit 7.2
-
Step 3: Collect Data
Secondary data - pieces of information that have been collected prior to the start of
the focal project
Primary data - data collected to address the specific research needs/questions
currently under investigation
Focus groups, interviews, surveys
-
Step 4: Analyze Data and Develop Insights
Data - raw numbers or other factual information of limited value
Information - data that has been organized, analyzed, interpreted, and converted into
a useful form for decision makers
The purpose of converting data into information is to describe, explain, predict,
and/or evaluate a particular situation and then use it to develop insights
-
Need to analyze and interpret data in an objective manner
-
Misinterpreting the findings or manipulating the statistics to suit the
researcher's prediction could lead to the wrong decision
-
Step 5: Present Action Plan
The analyst prepares the results and presents them to decision makers, who
undertake appropriate marketing actions and strategies
-
Typical marketing research presentation includes: executive summary, body of
the report (objectives, methodology, findings), conclusions, limitations, and
supplemental exhibits
-
SECONDARY DATA
Marketing projects often begin with a review of existing data
-
Usually readily accessible and free
-
Can also purchase from research firms
-
Can be within the company
-
Internal Secondary Data
Customer information and purchase history
-
Can be difficult to make sense of it
-
Data mining - the use of statistical analysis tools to search for patterns in data or
relationships among variables
Used to comb through the billions of pieces of data
-
Hope to generate customer-based analytics that they can apply in strategic
decision making
-
Can assess the profitability of their customers and their lifetime value
-
External Secondary Data
Must ensure its current and relevant
-
Syndicated data - data available for a fee from commercial research firms such as
Symphony IRI Group, National Diary Panel, Nielson, and Leger Marketing
Scanner data - a type of quantitative research that uses data obtained from scanner
readings of UPC codes at checkout counters
Panel data - a type of quantitative research that involved collecting information from
a group of consumers (the panel) over time
Data collected may be from a survey or a record of purchases
-
Key difference between scanner and panel data is the way it is aggregated
Scanner focuses on weekly consumption of a particular product at a given
unit of analysis
Panel focuses on the total weekly consumption by a particular person or
household
-
PRIMARY DATA COLLECTION
*See exhibit 7.7 for comparison of secondary and primary data
Use a variety of means to collect primary data
-
Qualitative or quantitative
-
Can be tailored to fit the research questions
-
Usually more costly & time consuming
-
Qualitative research - attempts to begin to understand the phenomenon of interest
Provides initial information when the problem lacks any clear definition
-
More informal
-
Includes observations, following social media sites, interviews, focus groups,
and projective techniques
-
Need to make several important decisions when collecting primary data
What method to use
What types of sampling are best
What types of instruments to use and how it should be designed
How to best contact participants
-
Reliability - the extent to which the same result is achieved when a study is repeated
under identical situations
Validity - the extent to which a study measures what it is supposed to measure
A market research study must be both reliable and valid for it to be useful
-
Sample - a segment or subset of the population that adequately represents the entire
population of interest
Three important questions to answer…
Who should be surveyed?
How big should the sample be?
What types of sampling procedure do we use?
-
Generally larger samples tend to yield more reliable results - up to a certain
point
-
Quantitative research - provides the information needed to confirm preliminary
insights, which managers can use to pursue appropriate courses of action
Confirms predictions through surveys, formal studies, scanner and panel data,
etc.
-
Used to test hypotheses
-
*see Exhibit 7.9
Qualitative Research Methods
Observation
Entails examining purchase and consumption behaviours through personal or
video camera scrutiny
-
Might be the best way to see how people use a product
-
Useful for designing and marketing products
-
Ethnography - an observational method that student people in their daily lives and
activities in their homes, work, and communities
Often used to study how people use products
-
Yields insights and intimate details that respondents may not be able to
articulate or otherwise share
-
Requires very experienced and knowledgeable market researchers
-
Social Media
Contributors to social media sites are rarely shy about their feelings toward a
product
-
Learn a lot about consumer preferences
-
Blogs and online reviews in particular
-
Also an opportunity to build online communities for the company
-
Some companies take it a step further by joining the online conversation with
customers, a process called social engagement
-
In-Depth Interview
A research technique in which trained researchers ask questions listen to and
record the answers, and then pose additional questions to clarify tor expand on
a particular issue
-
Provide a historical context for the phenomenon of interest
-
How people feel about a product at an individual level - something that rarely
emerges with other types of data collection
-
The results can be used to develop surveys
-
Focus Group Interviews
A research technique in which a small group of persons comes together for an
in-depth discussion about a particular topic, with the conversation guided by a
trained moderator using an unstructured method of inquiry
-
Gather qualitative data about initial reactions to a new or existing product or
service
-
Online technology has provided a lot of benefits with virtual focus groups
-
Projective Technique
A type of qualitative research in which subjects are provided a scenario and
asked to express their thoughts and feelings about it
-
Focus groups and in-depth interviews are used most frequently
-
Deciding which technique to use depends on…
Objective of the research
Cost to undertake the research
Time required to undertake the research
How soon the results are needed
Whether the company has expertise in house
-
Quantitative Research Methods
Survey Research
Arguably most popular
-
Studies consumers' attitudes, preferences, behaviour, and knowledge about
products and brands
-
Generally cost effective
-
Usually yield quantitative data that can be easily analysed by using statistical
methods to measure relationships between variables
-
A few limitations: customers might not be able to answer all questions, might
interpret a question wrong, might not remember information
-
Survey - a systematic means of collecting information from people using a
questionnaire
Questionnaire - a form that features a set of questions designed to gather information
from respondents and thereby accomplish the researchers' objectives
Unstructured or structured
-
Unstructured questions -open-ended questions that allow respondents to answer in
their own words
Structured questions -close-ended questions for which a discrete set of specific
answers is provided for the respondent to evaluate
Questions must be carefully designed
See exhibit 7.12
-
Should be sequenced appropriately
-
Online or offline
Online can develop a database really quickly
-
Panel Research
Secondary or primary
-
Experimental Research
A type of quantitative research that systematically manipulates one or more
variables to determine which variable has a causal effect on another variable
-
EMERGING TECHNOLOGY AND THE ETHICS OF CONSUMER INFORMATION
Strong ethical orientation must be an integral part of a firm's marketing strategy
and decision making
-
As technology develops the access and use of consumer data becomes sensitive
-
Consumers have increasing anxiety around the protection of their personal
information
-
PIPEDA governs the collection, use, disclosure, and retention of personal
information by certain parts of the private sector
-
3 guidelines for conducting marketing research:
Prohibits selling under the guise of conducting research
Supports maintaining research integrity by avoiding the
misrepresentation of pertinent research data
Encourages fair treatment of clients and suppliers
-
Chapter 7
Thursday, February 1, 2018
1:13 PM

Only pages 1-2 are available for preview. Some parts have been intentionally blurred.

MARKETING RESEARCH
A set of techniques and principals for systematically collecting, recording,
analyzing, and interpreting data that can aid decision makers involved in
marketing
-
Can help with segmentation, positioning, and marketing mix decisions
-
Key to understanding consumer behaviour
-
Helps to reduce uncertainty
-
Provides a crucial link between firms and their environments
-
Allows them to be customer oriented
-
Anticipate and respond quickly to competitive moves
-
Identify emerging opportunities and changes in the external environment
-
THE MARKETING RESEARCH PROCESS
Factors to consider before embarking on a marketing research project…
Will the research be useful?
Will it provide insights beyond what the managers already know and
reduce uncertainty association with it?
Is top management committed to the project and willing to abide by the
results of the research?
Should the marketing research project be small or large?
-
*see exhibit 7.1
Sometimes researchers go back and forth between steps
-
Important to plan the entire project in advance
-
Step 1: Define the Research Problem and Objectives
Most important and possibly most difficult
-
Resources can be wasted if the objectives are ill-defined
-
Need to separate the symptoms of the problem from the actual problem
-
Step 2: Design the Research Plan
Identify the type of data needed and the type of research necessary to collect it
-
See exhibit 7.2
-
Step 3: Collect Data
Secondary data - pieces of information that have been collected prior to the start of
the focal project
Primary data - data collected to address the specific research needs/questions
currently under investigation
Focus groups, interviews, surveys
-
Step 4: Analyze Data and Develop Insights
Data - raw numbers or other factual information of limited value
Information - data that has been organized, analyzed, interpreted, and converted into
a useful form for decision makers
The purpose of converting data into information is to describe, explain, predict,
and/or evaluate a particular situation and then use it to develop insights
-
Need to analyze and interpret data in an objective manner
-
Misinterpreting the findings or manipulating the statistics to suit the
researcher's prediction could lead to the wrong decision
-
Step 5: Present Action Plan
The analyst prepares the results and presents them to decision makers, who
undertake appropriate marketing actions and strategies
-
Typical marketing research presentation includes: executive summary, body of
the report (objectives, methodology, findings), conclusions, limitations, and
supplemental exhibits
-
SECONDARY DATA
Marketing projects often begin with a review of existing data
-
Usually readily accessible and free
-
Can also purchase from research firms
-
Can be within the company
-
Internal Secondary Data
Customer information and purchase history
-
Can be difficult to make sense of it
-
Data mining - the use of statistical analysis tools to search for patterns in data or
relationships among variables
Used to comb through the billions of pieces of data
-
Hope to generate customer-based analytics that they can apply in strategic
decision making
-
Can assess the profitability of their customers and their lifetime value
-
External Secondary Data
Must ensure its current and relevant
-
Syndicated data - data available for a fee from commercial research firms such as
Symphony IRI Group, National Diary Panel, Nielson, and Leger Marketing
Scanner data - a type of quantitative research that uses data obtained from scanner
readings of UPC codes at checkout counters
Panel data - a type of quantitative research that involved collecting information from
a group of consumers (the panel) over time
Data collected may be from a survey or a record of purchases
-
Key difference between scanner and panel data is the way it is aggregated
Scanner focuses on weekly consumption of a particular product at a given
unit of analysis
Panel focuses on the total weekly consumption by a particular person or
household
-
PRIMARY DATA COLLECTION
*See exhibit 7.7 for comparison of secondary and primary data
Use a variety of means to collect primary data
-
Qualitative or quantitative
-
Can be tailored to fit the research questions
-
Usually more costly & time consuming
-
Qualitative research - attempts to begin to understand the phenomenon of interest
Provides initial information when the problem lacks any clear definition
-
More informal
-
Includes observations, following social media sites, interviews, focus groups,
and projective techniques
-
Need to make several important decisions when collecting primary data
What method to use
What types of sampling are best
What types of instruments to use and how it should be designed
How to best contact participants
-
Reliability - the extent to which the same result is achieved when a study is repeated
under identical situations
Validity - the extent to which a study measures what it is supposed to measure
A market research study must be both reliable and valid for it to be useful
-
Sample - a segment or subset of the population that adequately represents the entire
population of interest
Three important questions to answer…
Who should be surveyed?
How big should the sample be?
What types of sampling procedure do we use?
-
Generally larger samples tend to yield more reliable results - up to a certain
point
-
Quantitative research - provides the information needed to confirm preliminary
insights, which managers can use to pursue appropriate courses of action
Confirms predictions through surveys, formal studies, scanner and panel data,
etc.
-
Used to test hypotheses
-
*see Exhibit 7.9
Qualitative Research Methods
Observation
Entails examining purchase and consumption behaviours through personal or
video camera scrutiny
-
Might be the best way to see how people use a product
-
Useful for designing and marketing products
-
Ethnography - an observational method that student people in their daily lives and
activities in their homes, work, and communities
Often used to study how people use products
-
Yields insights and intimate details that respondents may not be able to
articulate or otherwise share
-
Requires very experienced and knowledgeable market researchers
-
Social Media
Contributors to social media sites are rarely shy about their feelings toward a
product
-
Learn a lot about consumer preferences
-
Blogs and online reviews in particular
-
Also an opportunity to build online communities for the company
-
Some companies take it a step further by joining the online conversation with
customers, a process called social engagement
-
In-Depth Interview
A research technique in which trained researchers ask questions listen to and
record the answers, and then pose additional questions to clarify tor expand on
a particular issue
-
Provide a historical context for the phenomenon of interest
-
How people feel about a product at an individual level - something that rarely
emerges with other types of data collection
-
The results can be used to develop surveys
-
Focus Group Interviews
A research technique in which a small group of persons comes together for an
in-depth discussion about a particular topic, with the conversation guided by a
trained moderator using an unstructured method of inquiry
-
Gather qualitative data about initial reactions to a new or existing product or
service
-
Online technology has provided a lot of benefits with virtual focus groups
-
Projective Technique
A type of qualitative research in which subjects are provided a scenario and
asked to express their thoughts and feelings about it
-
Focus groups and in-depth interviews are used most frequently
-
Deciding which technique to use depends on…
Objective of the research
Cost to undertake the research
Time required to undertake the research
How soon the results are needed
Whether the company has expertise in house
-
Quantitative Research Methods
Survey Research
Arguably most popular
-
Studies consumers' attitudes, preferences, behaviour, and knowledge about
products and brands
-
Generally cost effective
-
Usually yield quantitative data that can be easily analysed by using statistical
methods to measure relationships between variables
-
A few limitations: customers might not be able to answer all questions, might
interpret a question wrong, might not remember information
-
Survey - a systematic means of collecting information from people using a
questionnaire
Questionnaire - a form that features a set of questions designed to gather information
from respondents and thereby accomplish the researchers' objectives
Unstructured or structured
-
Unstructured questions -open-ended questions that allow respondents to answer in
their own words
Structured questions -close-ended questions for which a discrete set of specific
answers is provided for the respondent to evaluate
Questions must be carefully designed
See exhibit 7.12
-
Should be sequenced appropriately
-
Online or offline
Online can develop a database really quickly
-
Panel Research
Secondary or primary
-
Experimental Research
A type of quantitative research that systematically manipulates one or more
variables to determine which variable has a causal effect on another variable
-
EMERGING TECHNOLOGY AND THE ETHICS OF CONSUMER INFORMATION
Strong ethical orientation must be an integral part of a firm's marketing strategy
and decision making
-
As technology develops the access and use of consumer data becomes sensitive
-
Consumers have increasing anxiety around the protection of their personal
information
-
PIPEDA governs the collection, use, disclosure, and retention of personal
information by certain parts of the private sector
-
3 guidelines for conducting marketing research:
Prohibits selling under the guise of conducting research
Supports maintaining research integrity by avoiding the
misrepresentation of pertinent research data
Encourages fair treatment of clients and suppliers
-
Chapter 7
Thursday, February 1, 2018 1:13 PM
You're Reading a Preview

Unlock to view full version

Only pages 1-2 are available for preview. Some parts have been intentionally blurred.

MARKETING RESEARCH
A set of techniques and principals for systematically collecting, recording,
analyzing, and interpreting data that can aid decision makers involved in
marketing
-
Can help with segmentation, positioning, and marketing mix decisions
-
Key to understanding consumer behaviour
-
Helps to reduce uncertainty
-
Provides a crucial link between firms and their environments
-
Allows them to be customer oriented
-
Anticipate and respond quickly to competitive moves
-
Identify emerging opportunities and changes in the external environment
-
THE MARKETING RESEARCH PROCESS
Factors to consider before embarking on a marketing research project…
Will the research be useful?
Will it provide insights beyond what the managers already know and
reduce uncertainty association with it?
Is top management committed to the project and willing to abide by the
results of the research?
Should the marketing research project be small or large?
-
*see exhibit 7.1
Sometimes researchers go back and forth between steps
-
Important to plan the entire project in advance
-
Step 1: Define the Research Problem and Objectives
Most important and possibly most difficult
-
Resources can be wasted if the objectives are ill-defined
-
Need to separate the symptoms of the problem from the actual problem
-
Step 2: Design the Research Plan
Identify the type of data needed and the type of research necessary to collect it
-
See exhibit 7.2
-
Step 3: Collect Data
Secondary data - pieces of information that have been collected prior to the start of
the focal project
Primary data - data collected to address the specific research needs/questions
currently under investigation
Focus groups, interviews, surveys
-
Step 4: Analyze Data and Develop Insights
Data - raw numbers or other factual information of limited value
Information - data that has been organized, analyzed, interpreted, and converted into
a useful form for decision makers
The purpose of converting data into information is to describe, explain, predict,
and/or evaluate a particular situation and then use it to develop insights
-
Need to analyze and interpret data in an objective manner
-
Misinterpreting the findings or manipulating the statistics to suit the
researcher's prediction could lead to the wrong decision
-
Step 5: Present Action Plan
The analyst prepares the results and presents them to decision makers, who
undertake appropriate marketing actions and strategies
-
Typical marketing research presentation includes: executive summary, body of
the report (objectives, methodology, findings), conclusions, limitations, and
supplemental exhibits
-
SECONDARY DATA
Marketing projects often begin with a review of existing data
-
Usually readily accessible and free
-
Can also purchase from research firms
-
Can be within the company
-
Internal Secondary Data
Customer information and purchase history
-
Can be difficult to make sense of it
-
Data mining - the use of statistical analysis tools to search for patterns in data or
relationships among variables
Used to comb through the billions of pieces of data
-
Hope to generate customer-based analytics that they can apply in strategic
decision making
-
Can assess the profitability of their customers and their lifetime value
-
External Secondary Data
Must ensure its current and relevant
-
Syndicated data - data available for a fee from commercial research firms such as
Symphony IRI Group, National Diary Panel, Nielson, and Leger Marketing
Scanner data - a type of quantitative research that uses data obtained from scanner
readings of UPC codes at checkout counters
Panel data - a type of quantitative research that involved collecting information from
a group of consumers (the panel) over time
Data collected may be from a survey or a record of purchases
-
Key difference between scanner and panel data is the way it is aggregated
Scanner focuses on weekly consumption of a particular product at a given
unit of analysis
Panel focuses on the total weekly consumption by a particular person or
household
-
PRIMARY DATA COLLECTION
*See exhibit 7.7 for comparison of secondary and primary data
Use a variety of means to collect primary data
-
Qualitative or quantitative
-
Can be tailored to fit the research questions
-
Usually more costly & time consuming
-
Qualitative research - attempts to begin to understand the phenomenon of interest
Provides initial information when the problem lacks any clear definition
-
More informal
-
Includes observations, following social media sites, interviews, focus groups,
and projective techniques
-
Need to make several important decisions when collecting primary data
What method to use
What types of sampling are best
What types of instruments to use and how it should be designed
How to best contact participants
-
Reliability - the extent to which the same result is achieved when a study is repeated
under identical situations
Validity - the extent to which a study measures what it is supposed to measure
A market research study must be both reliable and valid for it to be useful
-
Sample - a segment or subset of the population that adequately represents the entire
population of interest
Three important questions to answer…
Who should be surveyed?
How big should the sample be?
What types of sampling procedure do we use?
-
Generally larger samples tend to yield more reliable results - up to a certain
point
-
Quantitative research - provides the information needed to confirm preliminary
insights, which managers can use to pursue appropriate courses of action
Confirms predictions through surveys, formal studies, scanner and panel data,
etc.
-
Used to test hypotheses
-
*see Exhibit 7.9
Qualitative Research Methods
Observation
Entails examining purchase and consumption behaviours through personal or
video camera scrutiny
-
Might be the best way to see how people use a product
-
Useful for designing and marketing products
-
Ethnography - an observational method that student people in their daily lives and
activities in their homes, work, and communities
Often used to study how people use products
-
Yields insights and intimate details that respondents may not be able to
articulate or otherwise share
-
Requires very experienced and knowledgeable market researchers
-
Social Media
Contributors to social media sites are rarely shy about their feelings toward a
product
-
Learn a lot about consumer preferences
-
Blogs and online reviews in particular
-
Also an opportunity to build online communities for the company
-
Some companies take it a step further by joining the online conversation with
customers, a process called social engagement
-
In-Depth Interview
A research technique in which trained researchers ask questions listen to and
record the answers, and then pose additional questions to clarify tor expand on
a particular issue
-
Provide a historical context for the phenomenon of interest
-
How people feel about a product at an individual level - something that rarely
emerges with other types of data collection
-
The results can be used to develop surveys
-
Focus Group Interviews
A research technique in which a small group of persons comes together for an
in-depth discussion about a particular topic, with the conversation guided by a
trained moderator using an unstructured method of inquiry
-
Gather qualitative data about initial reactions to a new or existing product or
service
-
Online technology has provided a lot of benefits with virtual focus groups
-
Projective Technique
A type of qualitative research in which subjects are provided a scenario and
asked to express their thoughts and feelings about it
-
Focus groups and in-depth interviews are used most frequently
-
Deciding which technique to use depends on…
Objective of the research
Cost to undertake the research
Time required to undertake the research
How soon the results are needed
Whether the company has expertise in house
-
Quantitative Research Methods
Survey Research
Arguably most popular
-
Studies consumers' attitudes, preferences, behaviour, and knowledge about
products and brands
-
Generally cost effective
-
Usually yield quantitative data that can be easily analysed by using statistical
methods to measure relationships between variables
-
A few limitations: customers might not be able to answer all questions, might
interpret a question wrong, might not remember information
-
Survey - a systematic means of collecting information from people using a
questionnaire
Questionnaire - a form that features a set of questions designed to gather information
from respondents and thereby accomplish the researchers' objectives
Unstructured or structured
-
Unstructured questions -open-ended questions that allow respondents to answer in
their own words
Structured questions -close-ended questions for which a discrete set of specific
answers is provided for the respondent to evaluate
Questions must be carefully designed
See exhibit 7.12
-
Should be sequenced appropriately
-
Online or offline
Online can develop a database really quickly
-
Panel Research
Secondary or primary
-
Experimental Research
A type of quantitative research that systematically manipulates one or more
variables to determine which variable has a causal effect on another variable
-
EMERGING TECHNOLOGY AND THE ETHICS OF CONSUMER INFORMATION
Strong ethical orientation must be an integral part of a firm's marketing strategy
and decision making
-
As technology develops the access and use of consumer data becomes sensitive
-
Consumers have increasing anxiety around the protection of their personal
information
-
PIPEDA governs the collection, use, disclosure, and retention of personal
information by certain parts of the private sector
-
3 guidelines for conducting marketing research:
Prohibits selling under the guise of conducting research
Supports maintaining research integrity by avoiding the
misrepresentation of pertinent research data
Encourages fair treatment of clients and suppliers
-
Chapter 7
Thursday, February 1, 2018 1:13 PM
You're Reading a Preview

Unlock to view full version