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Chapter 10: Marketing Research

by: Andrea Lopez

Chapter 10: Marketing Research MKT 301

Marketplace > University of Miami > MKT 301 > Chapter 10 Marketing Research
Andrea Lopez
GPA 3.8
Professor Kettle

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Chapter 10: Notes and Questionnaire. The notes are formatted nicely to make them clear and simple. The questions attached, are all answered in depth.
Professor Kettle
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This 5 page Bundle was uploaded by Andrea Lopez on Wednesday February 18, 2015. The Bundle belongs to MKT 301 at University of Miami taught by Professor Kettle in Spring2015. Since its upload, it has received 92 views.

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Date Created: 02/18/15
CHAPTER 10 Marketing Research MARKETING RESEARCH quotSystematically collecting recording analyzing and interpreting dataquot 0 Data raw number info Ex gender age income quotAids decision makers involved in marketing goods services amp ideasquot Systematic it s a science Data observations of the world Aids decision making WHO DOES MARKETING RESEARCH Universities Businesses Private Research Firms Government Agencies NonPro t Organizations Consumers WHY IS MARKETING RESEARCH IMPORTANT Informs Companies 0 New better desired Products and Services Ex Starbucks tables Informs Consumers 0 Make better decisions Ex Consumer reports Informs Public Policy 0 Protect consumers Ex Consumer Financial Protection Bureau Requires full disclosure from lenders THE MARKETING RESEARCH PROCESS STEP 1 DEFINING OBJECTIVES AND RESEARCH NEEDS What is the research question What do we want to learn from this research Kettle amp Haubl 2011 o quotHow foes singing your name in uence you subsequent behaviorquot Kettle amp Mantonakis 2014 o How does the presence of a personal signature on marketing stimulate in uence consumption behavior Critical Step 0 Can you answer the question 0 How can you answer the question Ex How does serving dish size in uence food consumption How do consumers perceive the quality of McDonald s food STEP 2 DESIGNING THE RESEARCH What are the best methods to address the question 0 Secondary Data Ex rankings 0 Primary Data Observation Surveys Experiments Focus Group Interviews STEP 3 DATA COLLECTION Exploratory Research 0 Initial information collection amp analysis Read newspapers journal articles survey census data 0 Uses secondary data Conclusive Research 0 Answer the speci c research question 0 Uses primary data Secondary Data 0 Data that has been already collected for another purpose Ex scanner data panel data census data government statistics news media public polls 0 Not necessarily external Ex previously collected survey experiment Primary Data 0 Data that you collect yourself for the speci c research question you have in mind 0 Observation Watch listen talk to people Very informal not scienti c at all 0 lnDepth Interview OneonOne Enables deeper analysis of speci c issues quotWhat is important for a good cup of coffee for youquot quotWhat do you like about UMquot Weakness small sample size 0 Types of products 0 Focus Group 0 Interview in a small group 48 people Enables deep analysis of speci c issues Strengths Group interaction Idea generation Weaknesses Small sample size Strongwilled individuals can dominate Questions 0 quotIf you are meeting friendsquot 0 quotWhat makes a pleasant atmospherequot 0 Survey Individuals respond anonymously to questions Strengths Large sample size 0 Accessibility to population Weaknesses 0 Asking the right questions 0 Lack of context 0 Lack of depth Questions Structured on a scale Unstructured quotwhat makes a pleasant atmospherequot 0 Experiments Systematic manipulation of factors Determines casual effect Strengths Determines what CAUSES consumer behavior Weaknesses Difficult to run need lab and people Costly Limited factor can be analyzed 0 Panel Data Scanner Data Panel 0 Consumers allow all of their purchases to be tracked for a period of time Scanner 0 Stores use scanner codes to record purchases Strengths Huge amounts of information 0 Analysis of shopping behavior Weaknesses 0 Extremely difficult to analyze 0 Limited additional information o OnLine Study What were you asked 0 Social group 0 Different products brands Your preference 0 How much these products re ect the social group Survey 0 Gender preferences Experiment Chosen Social Group vs Endowed Social Group 0 Group you CHOSE to join vs Grouo you had NO CHOICE to join 0 Measure Did you conform to the group norms choosing Brand A or diverge from the group norms choosing Brand B STEP 4 DATA ANALYSIS Data 0 Raw numbers information Ex gender price of a product Information 0 Data in context Ex gender differences different prices of a product 0 Example interpreting the experiment Data purchase signature present Analyzing the data effect of signature on purchase behavior gives information Giving meaning to the information provides knowledge STEP 5 ACTION PLAN amp IMPLEMENTATION Decision Makers 0 What does the marketing research suggests quotBottomless soup bowquot Endowed vs Chosen Social Groups 0 What does the marketing research suggest People conform more to Chosen Social Groups 0 More likely to pick option A1 Implication for 0 Consumers o Marketers Marketing Study Guide Questions CHAPTER 10 Marketing Research 1 What are the steps in the marketing research process a Step 1 De ning objectives and research needs b Step 2 Designing the research c Step 3 Data collection process d Step 4 Analyzing data and developing insights e Step 5 Action plan and implementation 2 What is the difference between data and information a Data includes raw numbers or facts Information includes organized analyzed interpreted data that offer value to marketers 3 What is the difference between internal and external secondary research a Internal data collected from a rm s own data taken from their daytoday operations b External data collected from sources outside of the rm 4 What are the types of qualitative research a Observation b Following social media sites c lndepth interviews focus groups and projective techniques 5 What are the types of quantitative research a Speci c experiments scanner and panel data


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