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Market Research

Market Research. Presented by: Dallas Hamilton, Alex Titus, Ian Horne, Lukas Weber, and Shahya Khodadadeh. Objective. To understand how the performance of survey task can lead to good market research. Click here.

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Market Research

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  1. Market Research Presented by: Dallas Hamilton, Alex Titus, Ian Horne, Lukas Weber, and ShahyaKhodadadeh

  2. Objective To understand how the performance of survey task can lead to good market research

  3. Click here

  4. A survey is defined as, “A detailed study of a market or geographical area to gather data on attitudes, impressions, opinions, satisfaction level, etc.”

  5. Agenda • Survey Questions • Survey Samples • Data Gathering • Reflection • Discussion Questions

  6. Creating Survey Research Questions • Companies want to know people’s knowledge, attitude, preference, and buying behavior • Surveys help to obtain unique information about multiple different things • Conducted by: • Phone • Email • In person • online

  7. Creating Survey Research Questions (cont.) • Questionnaire= collecting primary data • Close-end questions: give possible answers to choose from • Open-end questions: allows subject to respond in own words • Reveal more than close-end questions

  8. Close-end Questions • Answers are easy to interpret or tabulate • More structure to get a specific answer • Types of close-end: • Multiple choice • Scale questions

  9. Open-end Questions • Useful for exploratory research • Finding out what people think • Not concerned with how many people think

  10. Wording and Ordering of Questions • Wording: • Simple • Direct • Un-biased • Ordering: • Logical order • First question should create interest • Last question should be personal or more difficult

  11. Problems with survey questions • Subjects cannot remember answers or have never thought about it • Unwilling to answer questions about private matters • Subject may answer even when they do not know to sound more intelligent • May answer to the most pleasing choice

  12. Click here

  13. Finding a Sample of Respondents • Researchers need to interview consumers to gather data • Survey from entire target population: census • Census provide perfect answers • Every person in target is surveyed • Census • Time-consuming • Expensive • Wasteful

  14. Finding a Sample of Respondents • Finding a correct sample • Probability (random selection) • Every subject has a chance to be in the sample • Nonprobability • when random selection is to to expensive or take too much time

  15. Types of probability samples

  16. Types of Nonprobability Samples

  17. Gathering Data • Gathering and interpreting data is very important for a business’s success • With survey research many things can affect the accuracy of the data

  18. Primary Data • Survey research give data from first hand experiences from real people • Problems are common with survey data • Shortcut errors • Subject does not understand questions • Questions can be confusing, or offensive

  19. Secondary Data for Customer Insights • Helps to begin research • Obtained very quickly • Comes from various sources • Potential problems: • Inability to obtain all data needed • Information might not be useful, accurate, or current

  20. Reflection

  21. Discussion Questions • Explain the role of secondary data in gaining customer insights. Where do marketers obtain secondary data and what are the potential problems using it? • What are the advantages of Internet-based survey research over traditional survey research? What is neuromarketing, and how is it useful in marketing research?

  22. References • Google. (2012, March 29). Google Consumer Surveys. Youtube. Retrieved from http://www.youtube.com/watch?v=90MIiBvXYcw • Kotler, P. (2013). Principles of marketing: Student value edition. (pp. 100-125). [S.l.]: Prentice Hall. • NBRIResearch. (2013, February 15). Customer and Employee Surveys | Market Research | NBRI. YouTube. Retrieved from http://www.youtube.com/watch?v=arHFglXtG70 • Sampling. (n.d.). Sampling. Retrieved from http://www.socialresearchmethods.net/kb/sampling.php • Stichproben und Repräsentativität. (n.d.). Stichproben Und Repräsentativität. Retrieved from http://arbeitsblaetter.stangl-taller.at/FORSCHUNGSMETHODEN/Stichproben.shtml • Survey. (n.d.). BusinessDictionary.com. Retrieved from http://www.businessdictionary.com/definition/survey.html

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