Marketing Research PDF

## Marketing Research (MR) **Functions** * Connecting consumer to marketers. * Process that links environmental scan, risk analysis, and monitoring current marketing program. **Why do market research (MR)?** * Forecasting * Products * Strategy * Competition * Segment * Consumer Behav...

## Marketing Research (MR) **Functions** * Connecting consumer to marketers. * Process that links environmental scan, risk analysis, and monitoring current marketing program. **Why do market research (MR)?** * Forecasting * Products * Strategy * Competition * Segment * Consumer Behavior * Price **2 Important Aspects of MR:** 1. **Why?** * **Exploratory:** at times we are not sure of the right questions to ask. * **Descriptive:** * **Causal:** Consumer research based on defined facts is very important. If one event causes the next event, being together does not mean it is a causal relation. It is correlation. 2. **How?** * Surveys * Experiments * Observation ### Hallmarks of Good Research **1. Reliability** - Consistency: If the research data yields similar results with many target markets. **2. Validity** - **Internal Validity:** Are you measuring what you intend to measure? - **External Validity:** Generalizability - It is possible to have internal validity without external validity, but we can only have external validity if we have internal validity. ### Research Process 1. **Problem Definition** 2. **Design** 3. **Collect and analyze data** 4. **Conclusion** **Problem Definition** * **Critical** * Do exploratory research to define the proper problem. * Secondary vs. Primary Data * Focus Groups: members should be current or future users of the product. * Depth Interviews * Questionnaires (open-ended) ### Data Sources * **Primary** * Informal * Quantitative * Qualitative * **Secondary** * Internal * External ### Research Design * Not representative * Finding solutions to the problem. ### Basic Technique (Method): Central Component of the Plan * **Surveys** * What? * How? (Dichotomous) - Provide incentives to promote participation * Panel Data * **Experiments** * The only technique to check the causal relationship. * There will be independent and dependent variables. We manipulate the independent variable to find the impact on the dependent variable. * For example: The impact of the eye-level of the product on the likelihood of purchase. * Dependent Variable: Likelihood of purchase. * Independent Variable: Height (High, medium, low) * **Approaches** * Personal interviews * Online Surveys * Mail Surveys * **Evaluation:** Cost & time, response rate & biases. ### Location - Validity * **Field:** * Internal Validity: + * External Validity: - * **Lab:** * Internal Validity: - * External Validity: + **Features** * Manipulation * Control * Validity * Internal * External (Generalizability) * Run in the lab.