The Process of Gathering and Interpreting Data for Use in Developing, Implementing, and Monitoring Firms’ Marketing Plans.
Essay by Lingggggg • March 8, 2019 • Essay • 340 Words (2 Pages) • 742 Views
Essay Preview: The Process of Gathering and Interpreting Data for Use in Developing, Implementing, and Monitoring Firms’ Marketing Plans.
Mark 3220:
Marketing Research:
The process of gathering and interpreting data for use in developing, implementing, and monitoring firms’ marketing plans.
→decision making
→reduces uncertainty
Describe (situations, markets, relationships)→Understand (processes, causes)→Predict (Outcome)
Research has its limitations:
Example: New coke
- Wrong questions were asked in the research
- Symbolic value and emotional factor were ignored
- Social influence matter
Research is valuable if it is
- Relevant
- Timely
- Accurate
- Cost effective
Limitations:
- Can reduce but not eliminate uncertainty
- Does not replace decision making
- Pay careful attention to the assumption
Marketing function → understand consumers and their needs
Marketing Research Process:
- Problem formulation→Decision problem, Research problem
- Research design→ Exploratory research, Descriptive research, Causal research
- Data collection→Primary data, Secondary data (before problems are clear and know how to answer problems)
- Analysis and interpretation
- Reporting results
Decision problem | Research problem |
Manager perspective | Researcher perspective |
Broad | Specific |
Action/decision oriented | Information oriented |
More subjective | More objective |
Three types of research design | Methods | Characteristics | Useful for | Types of research |
Exploratory Goal: To gain insights and ideas to identify or redefine problems. To understand exactly what information is needed by managers to make important decisions. To generate hypotheses about the key aspects of a problem To increase researchers’ familiarity with the problem To clarify concepts | Case studies Focus group Qualitative research | Flexible Versatile (通用的) Not conclusive | Discovery of ideas and insights. Not overly complex | 1) Literature search (quick and cheap) (the first step to conduct exploratory research) 2) Depth interview 3) Focus group 4) Case analyses 5) Projective methods Focus group: →E.G. the revenue of a firm is declining, it can help finding the reason 1) Generate ideas 2) Understand consumer needs and attitudes 3) Predict the effects of social influence 4) Test comprehension of promotional materials →product or package design, brand logo, ads Participants: 6-12members avoid power differentials heterogeneity strangers Ethnographic Observation: → generate insights based on real behavior rather than on what ppl say →detect new fashions |
Descriptive 1) To describe group characteristic. →demographics, behavior, personality, attitude, motivation e.g. HK smartphone users 2) To describe the relationship between variables →android vs IOS 3) To make specific predictions →using data source e.g. Secondary and Primary | Survey Panels Scanner data→ (Secondary data) | Preplanned Structured Conclusive | Describe market characteristics or functions | |
Causal Three elements: 1) concomitant variation 2) precedence 3) systematic elimination of other possible factors | experiments | Manipulation and control of variables | Determine cause and effect relationship | e.g. will…improve sales? Will it be popular if….? |
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