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TheMarketingResearch
Consumer & Market Knowledge
Marketing Researchis the systematic
design, collection, analysis, andreporting of data and findingsrelevant to a specific marketing
situation facing the company.
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The
MarketingResearch
Process
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MarketingResearchSystem
The Marketing Research Process
Step 1: Define the Problem, the Decision
Alternatives, and the Research Objectives
Must be careful not to define the problem toobroadly or to narrowly.
Example: Offering New First Class Service
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MarketingResearchSystem
The Marketing Research Process
Step 2: Develop the Research Plan
Data Sources secondary/ primary data Research Approaches
Observational research -
Focus group research
Survey research
Behavioral data purchasing behaviour/ direct
marketing
Experimental research to capture cause and effects
relationship/ can explain the results.
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MarketingResearchSystem
Research Instruments
Questionnaires closed-end/ opened
questionnaires Quantitative measures unstructured
measurement approaches.
Mechanical Devices technology media/
diaries
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MarketingResearchSystemClosed-end Questions
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MarketingResearchSystem
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Sampling Plan
Sampling unit Who is to be surveyed?
Sample size How many people should besurveyed?
Sampling procedure How should the
respondents be chosen?
MarketingResearchSystem
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Probability Sample
Simple random sample Every member of the population has an
equal chance of selection
Stratified random
sample
The population is divided into mutually
exclusive groups (such as age groups),and random samples are drawn from
each group
Cluster (area) sample The population is divided into mutually
exclusive groups (such as city blocks),
and the researcher draws a sample ofthe groups to interview
Probability and Nonprobability Samples
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Nonprobability
Sample
Convenience sample The researcher selects the most
accessible population members
Judgment sample The researcher selects populationmembers who are good prospects for
accurate information
Quota sample The researcher finds and interviewsa prescribed number of people in
each of several categories
Probability and Nonprobability Samples
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Contact Methods
Mail questionnaire
Telephone Interview
Personal interviewing
Online interview
MarketingResearchSystem
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Step 3: Collect the Information
Step 4: Analyze the Information
Step 5: Present the Findings
Step 6: Make the Decision
MarketingResearchSystem
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Overcoming barriers to the use
of marketing researchA narrow conception of the research
Uneven caliber of researchers
Poor framing of the problem
Late and occasionally erroneous findings
Personally and presentational differences
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Measuring marketing
productivity Marketing Metrics is the set of measures
that helps firms to quantify, compare, and
interpret their marketing performance.
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Copyright 2009 Pearson Education,
Inc. Publishing as Prentice Hall4-18
Table 4.4 Marketing MetricsExternal Awareness
Market share
Relative price
Number of complaints
Customer satisfaction
Distribution
Total number ofcustomers
Loyalty
Internal Awareness of goals
Commitment to goals
Active support
Resource adequacy
Staffing levels
Desire to learn
Willingness to change Freedom to fail
Autonomy
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Copyright 2009 Pearson Education,
Inc. Publishing as Prentice Hall4-19
Marketing Dashboards A customer-performance scorecard
records how well the company is doing yearafter year on customer-based measures.
A stakeholder-performance scorecard
tracks the satisfaction of variousconstituencies who have a critical interest inand impact on the companys performanceincluding employees, suppliers, banks,
distributors, retailers, and stockholders.
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Copyright 2009 Pearson Education,
Inc. Publishing as Prentice Hall4-20
Table 4.5 Sample Customer-Performance
Scorecard Measures
% of new customers to average #
% of lost customers to average #
% of win-back customers to average #
% of customers in various levels of satisfaction
% of customers who would repurchase
% of target market members with brand recall
% of customers who say brand is mostpreferred
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Measuring Marketing Plan
Performance Sales Analysis
Market share analysis
Marketing expense to sales analysis
Financial analysis
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Copyright 2009 Pearson Education,
Inc. Publishing as Prentice Hall4-23
What is Marketing-Mix
Modeling?Marketing-mix models analyze data from
a variety of sources, such as retailer
scanner data, company shipment data,pricing, media, and promotion spending
data, to understand more precisely the
effects of specific marketing activities.
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One major reason to conduct MR is to identifymarketing opportunities/ measure and forecast thesize/ growth and profit potential etc.Market Demand: total volume for the product that would
be bought be defined customer group.
Market Forecast: marketing expenditure of industry willactually occur.
Market Potential: expect market demand
Company Demand: company estimated share of marketdemand
Company Sales Forecast: expected company sales
based on a chosen marketing plan
ForecastingandDemand
Measurement
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The measures of Market
Demand Potential market
Available market
Target market
Penetrated market
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Estimating Current Demand
Total Market Potential
Area Market Potential (for company)
Estimating Future Demand
Survey of buyers intention
ForecastingandDemand
Measurement