Class Intro 7

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Marketing Research

Gathering and using data for marketing decisions.

Old Notes

Dunkin Donuts

Marketing Information Systems: Accessing multimedia data; Data warehouse; Decision support systems; Marketing models

Marketing Research: Research specialist; Scientific method; Steps in marketing research

Changes with MIS: MIS makes information available and accessible; more information faster and easier; use of intranets

5 steps for Marketing Research Process: Defining the problem; Analyzing the situation; Getting problem-specific data; Interpreting the data; Solving the problem

Step 1: Finding the right problem level; Problems vs. Symptoms; Setting research objectives

Step 2: Information on hand ?; Educate researcher

Data sources: Secondary data (already available), inside and outside company; Primary data (unique to problem), observation (listening) and questioning

Benefits of seconfary data: less expensive; quick to obtain; credible

Benefits of primary data: proprietary to the company; specifically designed for the project; current

The gaps in the secondary data, prompts the requirements for research proposal, gathering primary data.

Step 3: Observing versus Questioning

Structured questioning seeks structured responses; can be summarized in numbers; quick response and analysis

Means of surveying: Mail and online; Telephone; Personal interview; Mall intercept; Focus groups

Sampling: Random, Stratified, Quota

Importance of constructing appropriate questions; demographic / personal questions at the end, no leading questions; complete set of answers

5 versus 6 options for a response on a scale.

Means of observation: Web-site analysis; checkout scanners; instore cameras; Social media; Consumer panels

Social media: engagement marketing, options to always "listen" to your consumers: facebook, twitter etc.

Data privacy issues: Shoppers must give consent for private data use

How Companies Learn Your Secrets

Behind the Cover Story: How Much Does Target Know?

Step 4: Interpretation

Data interpretation: Population, Sample, Confidence intervals, Validity

Step 5: Solving the problem

International Marketing

Complications with international marketing research, re: lack of data, difficulties in interpration of data, cultural differences