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The Marketing Research Process

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Title: The Marketing Research Process


1
The Marketing Research Process
  • MKTG3342
  • Fall 2008
  • Professor Edward Fox

2
The Marketing Research Process
  • Research Process - Key Questions
  • 1. Why should we do research?
  • Management Decision Problem Research Purpose
  • 2. What research should be done?
  • Research Objective
  • 3. Is it worth doing the project ?
  • Value of Information

3
Key Questions (cont.)....
  • 4. How should research be conducted?
  • Research Design
  • 5. How should data be collected?
  • Sampling and Data Collection
  • 6. What will we do with the data?
  • Data Analysis and Interpretation
  • 7. How do we communicate the results?
  • Report Writing and Presentation

4
Step 1 - Problem/Opportunity Identification
  • The research process begins with the recognition
    of a marketing problem or opportunity
  • As changes occur in the firms external
    environment, marketing managers are faced with
    the fundamental questions, Should we change the
    current marketing mix? and, If so, how?

5
Problem Definition
  • Translating the Management Decision Problem into
    Research Objectives
  • Management Decision Problem
  • Managers version of the problem for which
    decisions is to be made. The management decision
    problem is action oriented.
  • e.g., How can I increase sales? What product
    features should I add? Should I increase my
    advertising? Who should I target for coupon
    distribution?

6
Role of the Marketing Researcher
  • Once a problem or opportunity has been
    identified, the marketing researcher comes into
    the picture.
  • The first responsibility of the researcher is to
    work with the marketing manager to clearly
    articulate the management decision problem(s)
    whose symptoms have been observed and then to
    precisely define the marketing research problem.

7
Definition of Research Objectives
  • The culmination of the problem/ opportunity
    formulation process is a statement of research
    objectives
  • These objectives are stated in terms of the
    precise information necessary to address the
    marketing research problem
  • Objectives must be as specific and unambiguous as
    possible. All subsequent efforts will be geared
    toward achieving the research objectives

8
Some wrong formulations Symptoms vs. Problems
(the Iceberg Principle)
  • Management Decision Problem
  • Sales were falling below quotas.
  • What should we do?
  • Research Objective
  • Find ways to motivate salesforce

9
Some wrong formulations
  • Management Decision Problem
  • A major soft drink competitor is gaining market
    share.
  • In blind tests, this competitors product is
    considered better by majority of consumers.
  • Research Objective
  • Determine whether new product formulations are
    preferred to the competitors product.

10
Research Objectives
  • Research objectives can be stated as
  • Questions
  • Researchable statements
  • Hypotheses
  • A hypothesis is a conjectural statement about a
    relationship between two or more variables that
    can be tested with empirical data.

11
Example of Problem Formulation - Ford SUV
  • A recent report suggests that middle-class
    families with children are taking more frequent
    and longer road trips for vacations. Ford wants
    to exploit this opportunity and add features to
    their next-generation sport utility vehicle (SUV)
    in order to make it more attractive to potential
    buyers.

12
Management Decision Problem -Ford SUV
  • To identify features that could be added to the
    SUV in order to increase its attractiveness to
    potential buyers taking long trips. In
    particular, the following features are under
    consideration
  • built-in TV/Video system, food warmer,
    refrigerator

13
Research Objectives Question FormFord SUV
  • Consider the following research objectives
  • What is the likely consumer demand for an SUV
    with an in-built refrigerator?
  • With a built-in refrigerator, would consumers
    need additional cup holders in the SUV? If so,
    what locations in the vehicle would be most
    convenient?
  • What is the likely consumer demand for an SUV
    with Video/TV system at different price points
    (i) 1500, (ii) 2000 or (iii) 2500.
  • What are the characteristics of consumers who
    would buy the video system?

14
Research Objectives Statement FormFord SUV
  • Consider the following research objectives
  • Estimate consumer demand for an SUV with an
    in-built refrigerator.
  • Determine whether, with a built-in refrigerator
    in the SUV, consumers would need additional cup
    holders if so, identify the most convenient
    locations in the vehicle.
  • Estimate consumer demand for an SUV with Video/TV
    system at different price points (i) 1500, (ii)
    2000 or (iii) 2500.
  • Identify the characteristics of consumers who
    would buy the video system.

15
Research Objectives Hypothesis FormFord SUV
  • Consider the following research objectives
  • Demand for SUVs with built-in refrigerators will
    be higher in Sun Belt states (e.g., Florida,
    Texas) than in other states.
  • Customers who would buy an SUV with a built-in
    refrigerator would also prefer that the vehicle
    have more cupholders.
  • Demand for SUVs with video/TV systems will be
    highest among families with young children 1-6
    years of age, compared to families with older
    children or no children.

16
Points to Take Away
  • Problem Definition is the first and very
    important phase of marketing research.
  • Problem Definition step involves translation of
    Management Decision Problem into Research
    Objectives.
  • Research Objectives are generally framed in terms
    of questions, researchable statements or
    hypotheses.
  • Clearer and more specific Research Objectives are
    easier to design and implement research.
  • There are no hard and fast rules for defining the
    problem. However, doing so requires interacting
    with managers and getting pertinent information.
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