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CHAPTER 2

CHAPTER 2. MARKETING RESEARCH: PROCESS AND SYSTEMS FOR DECISION MAKING. Benefit of Research. Assist to decision making Information from market/customer Help to improve performance The Benefit Formula: V(dr) - V(d) > C(r) where V(dr) = decision with benefit

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CHAPTER 2

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  1. CHAPTER 2 MARKETING RESEARCH: PROCESS AND SYSTEMS FOR DECISION MAKING

  2. Benefit of Research • Assist to decision making • Information from market/customer • Help to improve performance • The Benefit Formula: V(dr) - V(d) > C(r) where V(dr) = decision with benefit V(d) = decision without benefit C(r) = cost of research

  3. Marketing Information System • There are more information than they are needed • There are more wrong kind than the right information. • Information is disperse and great effort is needed to locate simple facts. • Vital information often arrives too late. • Information gathered may not be accurate.

  4. The Marketing Intelligence System • Computerized data base • Information gathering in a controlled an coordinated fashion(MIS): Data, information, intelligence(interpretation). • System structure-right information at the right time

  5. Secondary data • Libraries • Directories and newsletters-trade association • Commercial information providers-Dun Bradstreet • Databases-Internet and Web pages • Trade association-Retailing Association, American Marketing Association

  6. Evaluating Secondary Data Sources and Quality • Source quality-who collected, how it is collected • Data quality-accuracy, reliability and timeliness: data collection methods-daily, weekly, monthly and yearly. • Data compatibility and comparability

  7. Primary Marketing Research • Suppliers of primary research: (1) syndicated research firms-A.C. Nielsen, SAMI: store audit, home audit, diary method. omnibus surveys, (2)custom research-specific research task

  8. Marketing Decision Support System The purpose is that the right information is available at the right time for the right decision maker. • Environment and market • Internal and external • Marketing information center • Computerized data gathered internally and externally • Marketing decision making • Problem solving approach

  9. The Marketing Research Process • Defining the objectives-problem identification • Determining the level: exploratory (insufficient), descriptive(more popular), or causal(time-consuming). • Determining the research approach: (1) Qualitative-observation, in-depth interviews, focus group,

  10. The Marketing Research Process (Cont.) (2) Quantitative research-experimental research(before-and-after design) • Questionnaire design(survey research): They must be (a)comprehensive (b)simple, clear and not too long. • Sample size determination and selection selection-probability and non-probability

  11. Marketing Research Process (Cont.) • Purpose-problem identification • Plan of the research • Performance of the research • pre-testing and validation • Processing research data • Coding and editing • Research report

  12. Research Process (cont.) • Collecting the data: Mail, telephone, personal interviews • Analyzing the data-multivariate analysis • Report writing and presentation 1. Relevance to specific need 2. Reliability of findings 3. Accuracy of recommendation 4. Bias(free from distortion)

  13. Problems of the Research Process • Representation improperly selected. • Sample selection and size are not properly formulated. • Pre-testing is not completed. • Questionnaires are not tested before they are used in the research. • Market test is too short before it is determined that consumers like it

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