Marketing Research
Definition
The systematic and objective identification, collection, analysis, dissemination and use of information that is undertaken to improve management decision-making in marketing
Consumer Insights
Gaining consumer insights refers to the process of discovering consumers' needs and wants
Can be obtained via marketing research
Provides information needed for management to make decisions to solve problems. In this topic, we learn how to gather secondary and primary data, develop a research plan for collecting data and end the topic by walking through to construct a survey questionaire
Process
Defining the problem and research objectives
Developing the research plan for collecting data
Implementing the research plan - collecting and analysing data
Interpreting and reorting the findings
Managment to make decision to solve problem.
EG: To increase sales, introduce a new product.
Making Research to obtain information
needed for decision making.
Contraints - Contraints are the restrictions placed an potential solutions to a problem. Common constraints in marketing problems are:
Time
Money
How Secondary and Primary data are used
Secondary
Primary
Facts and Figures that have already been recorded before the project at hand
Facts and Figures that are newly collected for the project.
Advantages
Disadvantages
Time Savings
Inexpensive
Out-of-date
Definitions/Categories Not Right
Not specific enough
Internal
External
Inputs
Outcomes
Census Reports
Trade Associations
Business Periodicals
Internet-Based reports
Descriptive
Causal
Exploratory
Explatory Research
Provides Ideas about a relatively vague issue. This preliminary information also helps suggest hypothesis.
Data Collection Methods:
In-depth Interviews
Focus Group Discussion
Descriptive Research
Describe things, markets, market potential for a product, demographics, consumers' attitudes, environment, competition.
Data Collection Methods:
Observations
Personal-administered surveys
Telephone Surveys
Online Surveys
Casual Research
Tries to determine the extent to which the change in one factor changes another one. Test hypotheses about cause-and-effect relationships.
Data Collection Method:
Experiments
Planning Primary Data Collection
Data Collection Method
Observational Research
Questionaire/Survey Research
Experimental Research
Contact Methods:
Contact Methods 1
Telephone
Face-to-face interviews/ Focus Group interviews
Online
Contact Methods 2
Online Marketing Research
Internet: Important tool for conducting research and developing customer insights
Traditional Marketing research: Provides more logical consumer responses to structured and intrusive research questions.
Contact Methods 3
Online Marketing Research
Online Behavioural and Social Tracking and Targeting
Web Analytics and targetting takes online eavesdropping even further, from behavioural targetting to social targetting.
Sampling Plan
Segment of population selected to represent the population as a whole. For most surveys, a sample will be used.
Sampling Plan Decisions
Who? (Sample Unit)
How many? (Sample Size)
How should the people be chosen? (Sampling Procedure)
Two type of Samples:
Probability Sample
Non-probability Sample
Research Instruments
Mechanical Devices
Questionaires
Check Out scanners
people meters
neuromarketing methods
Phones
Online
In person
Types of questionaires
Semantic Differntial
Dichotomous
Likert Scale
Open ended
Close ended pr multiple choice
Presented in
line graphs
Pie charts
histograms
bar graphs
frequency polygon
Relevant Readings
Are SEA marketers truly understanding consumer behaviour on mobile? via
https://www.marketing-interactive.com/mobile-marketing-consumer-behaviour
6 principles of inclusive marketing by https://www.marketing-interactive.com/6-principles-of-inclusive-marketing
Driving consumer behaviour through social media by
https://www.marketing-interactive.com/driving-consumer-behaviour-social-media
How marketers can utilize insights-driven marketing https://www.socialmediatoday.com/news/how-marketers-can-utilize-insights-driven-marketing/572297/