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Marketing Research, 3 Relevant Readings - Coggle Diagram

- - - - 3. Implementing the research plan - collecting and analyzing data
        
        4. Interpreting and reporting findings
        
        Interpret findings, draw conclusion and report to management for decision making process. The results should be presented graphically.
        
        It is important for researchers to process and analyze their data for accuracy and isolate important data.
    - - Exploratory
        
        Exploratory research provides ideas about a vague problem. It also suggests hypothesis.
        
        Data Collection methods: Detailed interviews and focus group discussions
      - Descriptive
        
        Descriptive research describes things like competition, environment, demographics and market.
        
        Data collection methods: Face to face interviews and surveys (telephone or online)
      - Causal
        
        Causal research tries to determine the extent to which if one factor would affect the other.
        
        Data collection methods: By experimenting with plans the business made.
- - - - 1. Data Collection Methods
        
        2. Contact Methods
        
        3. Sampling Plan
        
        4. Research Instruments
        
        Mechanical Devices
        
        check out scanners
        
        people meters
        
        Questionnaires
        Questionnaires are flexible and can be done almost anywhere (phone, in person etc.
        
        close ended questions
        
        multiple choice questions
        
        open ended questions
        
        dichotomous questions
        
        Likert scale questions
        
        How to construct a survey questionnaires
        
        6 more items...
        
        A portion of the population is selected to represent the population as a whole.
        
        Probability sample
        
        Simple random samples
        
        Stratified random samples
        
        Cluster (area) sample
        
        Non-probability sample
        
        Convenience sample
        
        Judgement sample
        
        Quota sample
        
        Contact method 1: Mail, Telephone, Interviews
        Contact method 2: Online marketing research by making use of the internet
        Contact method 3: Online marketing research by tracking consumers by their online behaviors or with web analytics
        
        Observational Research (e.g social listening)
        
        Survey research (e.g focus group interviews)
        
        Experimental research (e.g experimenting on marketing plans)
        
        Social listening
        
        Social listening is to continuously monitor the business's social media channels for customer feedback, opinions or discussions relating to competitors, the product, the company or potential customers
        
        There are 2 types of listening:
        
        Historical Data
        
        Real Time Data
        
        Application of Historical Data
        
        Tracks social media strategy
        
        Competitive bench marking
        
        For product developments
        
        Gain competitive insights
        
        Look for key influencers or influencer's management
        
        Application of Real Time Data
        
        Brand Reputation
        
        Crisis Detection & Management
        
        Tools for Social Listening
        
        Social Media Platforms
        
        Boolean Search
        
        Third Party Social Listening Tools
  - - - Internal
        Inputs: Budgets and Expenses, sales call reports, customer data
        Outcome: Actual Sales, Customer orders, customer communications
      - External
        
        Census Report
        
        Trade Associations
        
        Business Periodicals
        
        Internet based reports