Marketing Research week 3 notes
Marketing Research week 3 notes MKTG 3633
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This 5 page Class Notes was uploaded by Alicia Turman on Thursday February 11, 2016. The Class Notes belongs to MKTG 3633 at University of Arkansas taught by Steven Kopp in Spring 2016. Since its upload, it has received 27 views. For similar materials see Marketing Research in Marketing at University of Arkansas.
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Date Created: 02/11/16
Marketing Research -11 step process 1. Establishing the need for marketing research o When is marketing research not needed? Information might already be available Decisions must be made now Costs outweigh the value of doing it 2. Define the problem- (most important step) o Hardest and most intellectually demanding part of the process o Difference between “problem” and “symptom” 3. Design ways to do the research o Why are we doing this? Help reduce uncertainty of managerial decision making 4. Establish the research objectives o Research objective state what the researches must do/ what we want to measure 5. Determine the research design o Research design- 3 types Exploratory research: unstructured and informal Descriptive research: describes marketing variables Causal Research: (experimental) isolation of causes and effects—to make “if then “ kind of statements. 6. Information types and sources o Secondary information: information already collected o Primary information: collected specifically for the problem at hand. 7. Accessing Data o Secondary data: relatively easy to access o Primary data: get it ourselves 8. Data collection forms o Questionnaire o Script 9. Sample size and plan o Sample plan: selecting units from the population (representative) o Sample size: number of elements in the sample (statistical analysis) o Getting the data to tell a story 10. Collect data o Data analysis cannot fix bad data o Non-sampling errors 11. Analyze data o Tabulations, statistical tests 12. Prepare and present the final research report o Report or presentation o Communicate the results to the client ( manager, boss, your client) Marketing Research – Feb. 4 notes ROI…. Is it worth it? What advertisers care about: Reach: a brand can “reach” one-third of the U.S population (more than any other television broadcast) Attention: for one night, people are excited and eager to see advertisements during the game, but also before and after (63 million views of VW “Darth Vader” ad, 90 million views of Clash of the Clans ad from 2015) Platform: used to springboard a larger campaign What is your problem? *most important step” DEFINE THE PROBLEM If the wrong problem is defined, all the remaining steps in the marketing research process will be no use Marketing Research Proposal o ITB: Invitation to Bid or o RFP: Request for Proposal (if the research is to be done externally) Defines the marketing management problem (problem statement) Specifies the research objectives o Identifying characteristics of the target market o Develop IMC strategy Details the research method o How to find out about people o Focus groups o Conduct a telephone survey. Feb 9 notes: (cont) The problem statement identifies: o Symptoms o Possible causes o Anticipated uses of research information Ensures that the researcher and the manager see the problem in the same way Constructs and operational definitions are specified. o Constructs: term or concept that is involved in the marketing management problem o For example, what are the constructs to be measured? o “Information needs, language and cultural competencies (of consumers) o Other constructs that we can measure: “Age” “Satisfaction” “Sales” o Operational definition: how we will measure a construct. Age- measured using self-reported chronological age Satisfaction- measured with a Likert scale Sales- measured in units, not dollars. Relationships are identified o Meaningful link believed to exist between two constructs. So our proposal might say: “we will examine the relationships between customer age and satisfaction, and whether these have an impact on sales. A model is decided. o Connects constructs with understandable logic. So our proposal might say: We expect that older customers will express higher satisfaction with the product. The proposed research method identifies o Data collection mode o Questionnaire design o Sample plan o Other aspects of research So look at what we’ve done: Identified the problem the manager faces Redefined this problem such that causes can be identified and studied Decided how to measure all of the variables factors involved in the problem The “RFP” is a formal way of doing this- it assures that the manager and researcher understand what is too to be done and species all the expectations.
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