Marketing Research PDF

2.2 Components of Marketing research brief 1. Background information: helping the researcher to understand why certain research objectives are being pursued. 2. Objectives: This requires decision makers to explain the focus of the decisions 3. Target to research: Distinct groups of consum...

2.2 Components of Marketing research brief 1. Background information: helping the researcher to understand why certain research objectives are being pursued. 2. Objectives: This requires decision makers to explain the focus of the decisions 3. Target to research: Distinct groups of consumers, channel members such as retailers or competitors, or company employee 4. Who is to use the findings? Details of who use the research findings. 5. Constraints. The main limitation to researchers carrying out what they may perceive as being the correct way to research a problem are the time and money that decision makers can afford. 6. Administrative considerations. These would lay out administrative details in completing the research project 2.3 Process of defining research problems and developing approach The process consists of 4 main phases including: o Analyzing the environmental context of the problem Past information and forecast Resources and constrains Enterprises objectives and buyer behaviors Other external environmental factors o Differentiating Marketing decision problems to marketing research problem o Approaching to the problem o Research design Analyzing Environmental context The tasks involved in understanding the environmental context of the marketing and research problem can include discussions with decision makers, qualitative interviews with industry experts, and secondary data collection and analysis. o Discussions with decision makers: The decision maker needs to understand the capabilities and limitations of research. Research provides information relevant to management decisions, but it cannot provide solutions. The researcher needs to understand the nature of the decision that managers face – the marketing problem and what they hope to learn from the research. It is necessary that the researcher attempts to interact directly with the key decision makers Initial secondary data analyses Analysis of available secondary data is an essential step in the problem-definition process. o Past information, forecasts and commentary on trends with respect to sales, market share, profitability, technology, population, demographics and life-style. o Data generated within an organization, including customer databases, information made available by business and government sources, commercial marketing research firms and the vast resources available online. o Secondary data are an economical and quick source of background information.. Primary data should not be collected until the available secondary data have been fully analyzed. o Primary data are originated by the researcher for the specific purpose 2.4 Management decision problems v/s Marketing research problems o Management decision problems o Management decision problems Should be a new product introduced? To determine consumer preferences and Should advertising campaign be changed? purchase intentions for the proposed new Should the price of the product be increased? products Should distribution network be expanded? To determine the effectiveness of the current advertising campaign. To determine the price elasticity of demand and the impacts on sales and profits of various levels of price changes To determine the coverage and distribution model that enterprises may be adopted. Research questions Research questions are refined statements of the components of the problem. Each component of the problem may have to be broken down into subcomponents or research questions. Research questions ask what specific information is required with respect to the problem components. o How customer ‘s past experience affect on brand passion and customer satisfaction? o What factors influence on brand passion? Hypothesis Hypothesis is an unproven statement or proposition about a factor or phenomenon that is of interest to a researcher. Hypotheses have been used to predict the relationship between two or more variables, but it involves more than a guess o Price will increase as the higher demands of consumer o Knowledge positively impact on attitude o Past Experience directly impacts on brand passion and indirectly impacts on willingness to participate