Marketing Research Lecture 2: Marketing Research Process PDF

Lecture 2: Marketing Research Process PROFESSOR JIA LIU  From Last Class § What is marketing research? § Why conducting marketing research? § What are some examples of marketing research? HKUST, MARKETING RESEARCH  Outline of Today § Marketing research pr...

Lecture 2: Marketing Research Process PROFESSOR JIA LIU  From Last Class § What is marketing research? § Why conducting marketing research? § What are some examples of marketing research? HKUST, MARKETING RESEARCH  Outline of Today § Marketing research process § Problem formulation HKUST, MARKETING RESEARCH  MARKETING RESEARCH PROCESS HKUST, MARKETING RESEARCH  Marketing Research Process Problem formulation Research design Data collection Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH  Case: Earth Hour HKUST, MARKETING RESEARCH  Before After HKUST, MARKETING RESEARCH WWF’s Decision Problem Problem formulation “Was the Earth Research design Hour event Data collection in Hong Kong Analysis and interpretation successful?” Reporting results HKUST, MARKETING RESEARCH Researcher’s Research Problem Problem formulation Before à During à After Research design Data collection Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH Researcher’s Research Problem Problem formulation Before à During à After Research design § Assess the awareness of the event, and the sources of awareness Data collection § Measure the level of participation Analysis and interpretation § Measure the effectiveness of the event in stimulating further energy reduction actions Reporting results HKUST, MARKETING RESEARCH Exploratory Research Problem formulation § Literature study Research design § Focus groups or depth Data collection interviews Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH Exploratory Research Problem formulation § Literature study o Does it work well in other Research design cities? § Focus groups or depth Data collection interviews o Motivations of Analysis and interpretation participation o What actions can reduce Reporting results energy consumption? HKUST, MARKETING RESEARCH Descriptive Research Problem formulation § What is the level of awareness for the event? Research design § What is the level of Data collection participation? Analysis and interpretation § What is the effectiveness of the event? Reporting results HKUST, MARKETING RESEARCH Primary Data – Survey Study Problem formulation Research design Data collection Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH Analysis and Interpretation Problem formulation Percentage of participation among those aware of the event Research design Data collection Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH Analysis and Interpretation HKUST, MARKETING RESEARCH Analysis and Interpretation All participants pledged to take future actions with majority saying they will turn off lights, replace old light bulbs, wash full loads of laundry and turn off appliances when not being used HKUST, MARKETING RESEARCH Analysis and Interpretation Although interest is high, there remains some reluctance to commit to setting energy saving targets Yes Yes HKUST, MARKETING RESEARCH Reporting Results Problem formulation § Write research report § Give presentation to WWF Research design Data collection Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH  Iterative Process Problem formulation Research design Data collection Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH  PROBLEM FORMULATION HKUST, MARKETING RESARCH  Problem Formulation A problem well-formed is a problem half solved Mistakes here stay with you Example: New Coke Quite often, the problem is not obvious The real problem sometimes is hidden Talk to managers and understand the background Some exploratory research may be needed Knowledge about marketing management/strategy helps here Mapping from decision problem to research problem(s) HKUST, MARKETING RESEARCH  DECISION PROBLEM RESEARCH PROBLEM § Manager perspective § Researcher perspective § Broad § Specific § Action/decision oriented § Information oriented § Answer: more subjective § Answer: more objective Examples: Examples: 1.Was the Earth Hour event in 1.What is the level of participation Hong Kong successful? in Earth Hour event? 2.Should we continue with the 2.What is the effectiveness of the Earth Hour event in Hong Kong? event in stimulating further energy reduction actions? HKUST, MARKETING RESEARCH  Researchers Look for Problems One decision problem may lead to many research problems Break up a decision problem in smaller research problems For each research problem, develop a research design Exploratory research can help identify/refine research problems E.g., focus groups can identify areas for improving services Prioritize based on Importance Cost and resource constraints Answers to research problems should provide information for the decision problem HKUST, MARKETING RESEARCH  Case: Visa Brand Revitalization HKUST, MARKETING RESEARCH  Case: Visa Brand Revitalization Background In 2003, managers were concerned about the future The brand was perceived as “old-fashioned” Decision problem Develop a new brand mark HKUST, MARKETING RESEARCH  Case: Visa Brand Revitalization Research Problem 1: determine how far consumers would allow the brand to stretch while maintaining the essential meanings Exploratory research: focus group – Test the initial set of possible logos, from small to dramatic changes – Determine the degree to which consumers are willing to allow a change The exploratory research led to two final candidate designs HKUST, MARKETING RESEARCH  Case: Visa Brand Revitalization Research Problem 2: assess consumer perceptions of the proposed logos on a set of attributes Descriptive research: survey – Compare attributes: up-to-date, forward looking, energetic, … HKUST, MARKETING RESEARCH  Case: All Nutrition A Chilean nutritional supplements chain. with 800 SKUs under three main categories: wellness, diet, and sports nutrition Established in 2005 by three co-founders A. Focus Group Research for Market Segmentation B. Quantitative Research for Market Segmentation HKUST, MARKETING RESEARCH  Case: All Nutrition Discussion Points: 1. What is the decision problem? 2. What are the research problems to solve the decision problem? 3. What are the corresponding research methods? HKUST, MARKETING RESEARCH  Summary § Marketing research process Problem formulation Research design § Problem formulation: from decision problem to research problem Data collection Analysis and interpretation Reporting results HKUST, MARKETING RESEARCH  Checklist 1. Form groups and select project topic (Due: Sep. 16) 2. Reading for next class ◦ Chapter 4 HKUST, MARKETING RESEARCH