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Marketing Research Methods Week 1 (Procedure of Marketing Research…
Marketing Research Methods Week 1
What is a Marketing Research?
The Systematic and objective
Collection
Analysis
Identification
Dissemination and use of Information
Why Do Marketing Research?
Problem-Identification Research
Identify problems which aren't Necessarily apparent
Problem-solving research
Segmentation, product, pricing, promotion, distribution
Procedure of Marketing Research
Developing an Approach to the problem
Formulate a research design
Defining the problem
Taking vaguely defined problem faced by managers and turning it into a well-defined, well-articulated and solvable problem
Marketing Research Problem
Overarching statement
Broad summary of research goal
Specific Components
Focus on key aspects of MRP and provide guidelines on how to proceed further
Characteristics
Focuses on underlying causes
Info orientated (focus on understanding)
Clearly defined and articulated
Asks what info is needed and how it should be obtained
Can be answered by testing each RQ and H
Management decision problem
symptom focused
Vague
Action orientated
Not clear how to solve
Asks what decision-maker needs to do
often involves underlying issue and key determinants or drivers
Doing field work/collecting data
Preparing and analyzing data
Preparing and presenting report
Ethics
Supplier's ethics
Violating confidentiality
Improper execution of research
Respondents' ethics and rights
know the true purpose
Know the research results
Privacy and safety
decide which questions to answer
Client's ethics
Dishonesty in dealing with suppliers
Misuse of research info
Overt and covert purposes