Marketing Management

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Chapter
4

Conducting Marketing Research

Learning Objectives

What is the scope of marketing research?

What steps are involved in conducting good marketing research?

What are the best metrics for measuring marketing productivity?

The Scope of
marketing research

American Marketing Association

Marketing research is the function that links the consumer, customer, and public to the marketer through information—information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.

AMA: Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.

The Scope of
marketing research

Importance of marketing insights

Generating insights (how and why we observe certain effects in the marketplace)

Good marketing insights often form the basis of successful marketing programs.

The Scope of
marketing research

Who Does Marketing Research?

Marketing departments in big firms

Everyone at small firms

Syndicated-service research firms

Custom marketing research firms

Specialty-line marketing research firms

Research conducted
at small companies

Engage students/professors

Use Internet

Check out rivals

Tap partner expertise

Tap employee creativity

Often at much smaller companies, everyone carries out marketing research—including the customers.

Small companies can also hire the services of a marketing research firm or conduct research in creative and affordable ways.

The Scope of
marketing research

Overcoming Barriers to the Use of Marketing Research

Many companies still fail to use it sufficiently or correctly

Figure 4.1
The Marketing Research Process

Step 1

Define the problem

Define the decision alternatives

Define the research objectives

Step 2: Develop the Research Plan

Data sources

Secondary data vs. primary data

Step 2: Develop the Research Plan

Research approaches

Observational research

Focus group research

Survey research

Behavioral research

Step 2: Develop the Research Plan

Research instruments

Questionnaires

Qualitative measures

Technological devices

Marketing researchers have a choice of three main research instruments in collecting primary data: questionnaires, qualitative measures, and technological devices.

Questionnaire

Qualitative measures

ZMET approach

Word association

Projective techniques

Visualization

Brand personification

Laddering

Step 2: Develop the Research Plan

Technological devices

Galvanometer

Tachistoscope

Eye-tracking

Facial detection

Skin sensors

Brain wave scanners

Audiometer

GPS

Step 2: Develop the Research Plan

Sampling plan

Sampling unit: Whom should we survey?

Sample size: How many people should we survey?

Sampling procedure: How should we choose the respondents?

Step 2: Develop the Research Plan

Contact methods

Online Research

Advantages

Inexpensive

Expansive

Fast

Honest

Thoughtful

Versatile

Disadvantages

Small

Skewed

Excessive turnover

Technological problems

Technological inconsistencies

As popular as online research methods are, smart companies use them to augment rather than replace more traditional methods. Like any method, online research has pros and cons.

Step 3 to Step 6

Step 3: Collect the Information

Step 4: Analyze the Information

Step 5: Present the Findings

Step 6: Make the Decision

Table 4.2
Good Marketing Research

Measuring Marketing Productivity

Marketing metrics

Marketing-mix modeling

Marketing dashboards

Marketing metrics

Measures that help marketers quantify, compare, and interpret performance

MARKETING-MIX MODELING

Analyzes 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

Marketing Dashboards

“A concise set of interconnected performance drivers to be viewed in common throughout the organization.”

Customer-performance scorecard

Stakeholder-performance scorecard

Table 4.4

Figure 4.3
Example Of A Marketing Dashboard