chp 2 40 Solving marketing problems using a systematic process

Secondary data

• information previously collected for some other problem or issue 

Marketing analytics

• large amounts of data are analyzed to identify data relationships, new data analysis Primary data

Primary data

•  information collected for a current research opportunity or problem

Gatekeeper technologies

• technologies such as caller ID that are used to prevent intrusive marketing practices such as by telemarketers and illegal scam artists

Regulations GDPR or California's privacy law

• restrict how companies collect, store access and use personal data

• Online marketers must provide am opt in/out opportunity when soliciting businesses or collecting info

Global expansion introduces marketing decision makers to

• new sets of cultural issues that force researchers to focus not only on data collection but also data interpretation and informational management services 

Information research process

•  systematic approach to collecting analyzing interpreting and transforming data into decision making information  

Information research

•  reflects the evolving changes occurring in the market research industry affecting organizational decision makers  

Initial recognition of the problem or opportunity should be the ____ responsibility of the decision maker, not the researcher

primary

decision makers

• often initiate the research process because they recognize the problem and opportunity

Insufficient time frames

when discovery of a problem leaves inadequate time to execute necessary research, decision makers might have to use informed judgment.

Inadequate resources

•  when there are significant limitations in money, manpower, and or facilities 

Costs outweigh the value

• then the benefits to be gained are not greater than the cost

jamming

Competitors might reduce prices during the market test to prevent company from getting accurate information

11 steps of research process

1. Identity and clarify information needs

2. Define the research questions

3. Specify research objectives and confirm the information value

4. Determine the research design and data sources

5. Develop sampling deesign and sample size

6. Examine measurement issues and scales

7. Design and pretest questionnaire

8. Collect and prepare data

9. Analyze data

10. Interpret data to create knowledge

11. Prepare and present the final report

Scientific method

• research procedures should be logical objective systematic reliable and valid

knowledge

• when someone interprets the data and attaches meaning 

Primary goal of the research process is to

• provide decision makers with knowledge to resolve problems or pursue opportunities

Determine the research problem

• 3 activities

1. Identify and clarify information needs

2. Define the research questions

3. Specify research objectives and confirm the information value 

• Any process should include the following: 

  • Researchers and decision makers must:

1. Agree on the decision makers purpose for the research

2. Understand the complete problem

3. Identify measurable symptoms and distinguish them from the root problem

4. Select the unit of analysis

5. Determine the relevant variables 

Iceberg principle

•  holds that decision makers are aware of only 10% or the true problem

Situational analysis

•  gathers and synthesizes background information to familiarize the researcher with the overall complexity of the problem

SWOT analysis

• consists of identifying strengths, weaknesses, opportunities, and threats facing the business

  • Strengths and weaknesses examine the business internally whereas opportunities and threats focus on external factors

Unit of analysis

• specifies whether data should be collected about individuals, households, organizations, departments, geographical areas or some combination 

Exploratory research

 generates insights that help define the problem situation, understanding consumer motivations, attitudes, and behaviors

Descriptive research

 collects quantitative data (image assessment surveys of customer satisfactions surveys)

Casual research

assessed and explains causality in market factors. Most appropriate for determining which variables cause a dependent variable to change, either up or down

Target population

•  the population from which the researcher wants to collect data

Census

• the researcher attempts to question or observe all the members of a defined target population 

Sample

• a small number of members of the target population from which the researcher collects data

Sampling plan

• serves as the blue print for the defining the appropriate target population, identifying the possible respondents, establishing the procedures for selecting the sample, and determining the appropriate sample size

Probability

1. each member of the target population has a known chance of being selected - allows assessment of sampling error

Nonprobability

1. cannot measure sampling error, limits findings

Research proposal

•  a specific document that provides an overview of the proposed research and methodology and serves as a written contract between the decision maker and the researcher