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Marketing Research, results, achieve by, allows, What?, E.g, through, or,…
Marketing Research
2 Types of Data
Primary Data
Primary data are facts & figure newly collected for the project
https://www.channelplay.in/india/resources/glossary/what-is-primary-and-secondary-data-in-market-research#:~:text=Primary%20data%20is%20information%20collected,newspaper%20articles%20and%20company%20reports
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Planning to gather primary data
Contact Methods
Mall
Telephone
Face to Face / Focus Group Interviews
Online
To Conduct & Develop Customer Insights
Sampling Plan
A segment of the Population Selected
Represent The population as a whole
2 Types of Samples
Probability Sample
Sample Random Sample
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Non- Probability Sample
Convenience Sample
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Data Collection Methods
Observational Research
Social Learning
Disadvantages
Often Only Tells One Part of the Story
Advantages
Allows Researchers to Create and Observe Actual Situations
XeroX
https://www.jumpassociates.com/learning-posts/direct-observation-practical-advice/#:~:text=Companies%20such%20as%20Motorola%2C%20Gillette,and%20interview%20people%20in%20context
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Experimental Research
Question air/ Survey Research
Focus Group Interview
Companies like McDonald use survey and question-air to collect data
https://www.slideshare.net/karishmakathpal/business-research-43184859
Research Instrument
Demographics
Age Group
Closed Ended/ Multiple Choice Questionnaire
Respondents to Select One or More Response Options
A Set of Pre-determined Choices
Open Ended Questions
Respondents to express opinions in own words
Dichotomous Questions
Fixed Alternative Question
2 Possible Response
Semantic Differential Questions
Contains a Scale
Opposite Ends Have Adjectives with Opposite Meanings
Sale Questions
To What Extend Do Users Agree or Disagree with a Statement
Secondary Data
Internal Data
Inputs
Budgets & Expenses
Outputs
Customer Orders
External Data
Trade Associations
Internet Based Reports
mcdonald uses external data for their data
https://www.slideshare.net/karishmakathpal/business-research-43184859
Facts & Figures recorded before the project
https://www.channelplay.in/india/resources/glossary/what-is-primary-and-secondary-data-in-market-research#:~:text=Primary%20data%20is%20information%20collected,newspaper%20articles%20and%20company%20reports
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Disadvantages
Out of date Data
Not specfic
Advantages
Save Time
Inexpensive
Purpose
Providing Consumer insights to Marketers
Identifying Customer Need & Wants
Marketing research is the systematic, objective, identification, collection, analysis, dissemination and use of information
Improvement in Decision - Making
Process
Define the problem & Research Objectives
How to Obtain the information
Constraints
Time
Money
What is the budget
What Information Needed
Develop a research plan to collect data
3 Types of Research Design
Descriptive
Describing the market
Market Potential
Product
Demographic
Consumer Attitudes
Environmental
Competition
Casual
Determine the extend to which change in one factor changes another one
Test Hypotheses about cause and effect relationships
Exploratory
Collect Data
Provides Ideas on Vague Problem
Suggest Hypothesis
results
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allows
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