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Southwestern Conquistador Beer, Secondary Data, Measures, Hypothesis Formulation, Chi-Square

Southwestern Conquistador Beer, Secondary Data, Measures, Hypothesis Formulation, Chi-Square. Market Intelligence Julie Edell Britton Session 2 August 8, 2009. Today’s Agenda. Announcements Southwestern Conquistador Beer Case Backward Market Research Secondary data quality Measure types

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Southwestern Conquistador Beer, Secondary Data, Measures, Hypothesis Formulation, Chi-Square

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  1. Southwestern Conquistador Beer, Secondary Data, Measures, Hypothesis Formulation, Chi-Square Market IntelligenceJulie Edell Britton Session 2 August 8, 2009

  2. Today’s Agenda • Announcements • Southwestern Conquistador Beer Case • Backward Market Research • Secondary data quality • Measure types • Hypothesis Testing and Chi-Square

  3. Announcements • National Insurance Case for Sat. 8/22 • Download National.sav from platform • SPSS on machines in MBA PC Lab and see installation direction on the platform on how to install on your machine • Do tutorial to familiarize with SPSS • Use handout in course pack to answer questions: 1-6 • Stephen will do a tutorial on Friday, 8/21 from 1:00 -2:15 in the MBA PC Lab and be available on 8/21 from 7 – 9 pm in the MBA PC Lab to answer questions • Submit slides by 8:00 am on Sat. 8/22 3

  4. SWCB Objectives • Feasibility decisions • Problem formulation, information needs • Role of secondary data • Role of research and time budgets • Quality, cost, speed 4

  5. SWCB Questions • What should Mr. Gomez do? • Consumer behavior? • What information do we need to make decision? • Which reports allow that information to be estimated? • What decision do these reports suggest? 5

  6. SWCB Conclusions • Feasibility studies need data on: industry demand, market share, investment, costs, margins. Break even analysis common. • Conceptualize data before doing research • Effort at problem formulation stage reduces later costs of doing research • Secondary data is the place to start 6

  7. SWCB Conclusions (cont.) • Cost of information is real; research budget typically constrained • Cheap info may not be most economical if it is unreliable • Just because budget has funds does not mean you should conduct extraneous research. 7

  8. Today’s Agenda • Announcements • Southwestern Conquistador Beer Case • Backward Market Research • Secondary data quality • Measure types • Hypothesis Testing and Chi-Square

  9. Backward Market Research • Obvious? Psychology of why so hard to do. • Imagine the end of the process: • What will the final report look like? DUMMY TABLES • What decision alternatives might be implemented? • What analyses can support a choice between alternatives? • Where to get the data for analysis? • Do they already exist? • If not, may need to commission a study. • Design the study (“need-” vs. “nice-to-know”) • Analyze data & make recommendation

  10. Analysis Dummy Table Ad Score = .25 UpF +.20 Claims + .15 AAd + .40 AB Action Standard - Run the Ad with the Higher Ad Score

  11. Research Process Fig 3-1, p.49 • Marketing Planning & Info System. • Agree on Research Purpose AmEx • Research Objectives (hypotheses, bounds) • Value of Information (the clairvoyant, p. 59) • Design Research • Collect Data & Analyze • Report Results & Make Recommendations

  12. Research Process Fig 3-1, p.49 • Marketing Planning & Info System. • Agree on Research Purpose AmEx • Research Objectives (hypotheses, bounds) • Value of Information (the clairvoyant, p. 59) • Design Research • Collect Data & Analyze • Report Results & Make Recommendations

  13. American Express Marketing Research Brief(To Be filled out by End User) • Marketing Background - Describe the current information or environment – what are the issues that precipitated the need for the research? What business units will be impacted? • Business Decisions - What decisions will be made and what actions will be taken as a result of the research? (If appropriate, specify alternatives being considered). What other data or business considerations will impact the decision? • Information Objectives - What are the key questions (critical information) that must be answered in order to make the decision? • Relevant Populations - Who do we need to talk to and why? • Timing - When must the research be completed to make the marketing decision? • Budget – How much money has been budgeted for this research? To what budget line will it be charged? • Requested by ________________ Manager • Requested by ________________ Director • Requested by ________________ Vice President

  14. American Express Marketing Research Brief(To Be filled out by Marketing Research) Job # __ Project Title _________ Budget Line ___ Business Unit___ • Marketing Background • Business Decisions To Be Made • Research Objectives • Research Design • Action Standards • Existing Sources of Information Consulted (e.g. syndicated and/or previous research) • Research Firm • Timing • Cost • Market Research Department Travel Cost • Approval ________________ Vice President • Approval ________________ if between $100,000 and $500,000 - Sr. VP • Approval ________________ if over $500,000 - Exec. Committee Member

  15. American Express Marketing Research Actionability Audit (To Be filled out by End User) • Project Name • End User Name • What Decisions or Actions were taken or are planned as a result of this research? If none, explain why. • Were any Actions Taken or are any actions being considered that are in conflict with the research learning? If so, why? • In retrospect, is there anything that could have been done differently to improve the actionability of the research investment? If so, what? • Relevant Populations - Who do we need to talk to and why?

  16. Research Process Fig 3-1, p.49 • Marketing Planning & Info System. • Agree on Research Purpose AmEx • Research Objectives (hypotheses, bounds) • Value of Information (the clairvoyant, p. 59) • Design Research • Collect Data & Analyze • Report Results & Make Recommendations

  17. Overview of Research Design • Exploratory • Generate ideas on alternatives & criteria to evaluate the alternatives • Descriptive • 1-way: frequencies, proportions, means, medians • 2-way: correlations, crosstabs • Causal • Assess cause-effect relationships

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