MKT 305 Midterm 2 (Module 5 Marketing Research)

Module 5 Marketing Research

Marketing Research

Process of Gathering Info Pertaining To Customers,Competitors, Channels, and Public Policy for Specific Decision Making

Marketing Information Systems

Provide Organized and Continuous Data Collection and Analysis to Gain Ongoing Marketing Intelligence

Scope Of Marketing Research

Customer Research

Channel Research

Public Policy Research

Competitor Research

Marketing Research Process

Problem Definition

Develop a Research Question

Most Difficult Step (Often Confuse Symptoms with Problems)

Exploratory (Types of Research)

Quick Additional Information

Descriptive (Types of Research)

More Formal (Customer Surveys)

Cross-Sectional: Response at a specific point in time

Longitudinal: Responses over a long period of time

Causal (Types of Research)

Experimental Research

Primary (Types of Data Collection)

New Data You Go Out And Collect

Secondary (Types of Data Collection)

Data that already exists

Internal: Already Exists Within the Company

External: Already Exists Outside the Company

Reliability (Data Collection)

A Measure of the Stability or Consistency of Responses

Validity (Data Collection)

Relevance of Measure

Primary {Qualitative} (Data Collection)

Hands-On Consumer Research: Become the people with the problem (e.g. Use a wheelchair for a week)

Observational Research

Motivation: What’s your motivation?

Focus Group: Invite 6-12 people to ask questions (Generalization)

Primary {Quantitative} (Data Collection)

Descriptive Research/Survey-Based

Personal Interviews

Telephone Surveys (Fast)

Mail Surveys (Cheap)

Online Survey (Fast and Cheap)

Non-Probability Sampling

Convenience Sample: Focus Groups

Quota Sample: Sampling with Quota in Mind

Judgement Sampling: Depends on Judgement of Interviewer

Probability Sampling

Simple Random Sample: Anyone can be sampled

Stratified Sample: Dividing by groups or characteristics (Age, Gender, etc.)

Cluster Sample: Sample based on location (Zip Codes)