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Market Research, Each indiv. helps you reach other indiv., Disadv: Biased…

- - - - We don’t know enough about the
        pb or opp. We must gain info. & clarify pbs
        
        QUALITATIVE DATA
        
        ex: Do less-affluent consumers feel uncomfortable in more upscale stores?
        
        Research methods
        
        In-depth interviews
        
        Focus groups
        
        Secondary data
        
        Observations
        
        OBJECTIVES: Familiarizing w/ PB; Formulate hypothesis; Establish research priorities
  - - - We know a little more about what we want to investigate. We start to measure the main concepts we want to study & try to find associations between them. 5W: Why What When
        Where With Whom & How
        
        QUANTITATIVE DATA
        
        ex: What are the demographics (income, education, socioeconomic status) of our clients?; Why don’t consumers buy with us?
        
        OBJECTIVES: Measuring vars.; Establishing relationships between vars; Describing groups
        
        Research method: Survey
  - - - We want to test a specific relationship between the variables/concepts (A causes B). Experimental design method.
        
        QUANTITAVE DATA
        
        ex: Effect of satisfaction on loyalty
        
        OBJECTIVES: Study the causal/effect relationship between 2 vars
        
        Methods: Experimental design
      - For potentially revealing casual effects we can rely
        on Causal designs (i.e. experimental designs)
- - - - Convenience method
        
        People I know, that I can reach easily
        
        Adv: Cheap; Small bias when pop. is homogeneous
        
        Disadv: Less representative; High bias when pop. is heterogeneous
      - Purposive method
        
        Only people that fit certain criteria for a specific research criteria (ex: research on which wine has the best quality -> only wine experts)
        
        Adv: More representative
        
        Disadv: Can be biased as it is based on the judgements of a portion of the pop.
      - Quota method
        
        Create subgroups & make a proportionate selection
        
        Adv: Better representativity; Cost efficiency
        
        Disadv: Representativeness is limited on the vars selected (ex: % male & female)
      - Snowball method
        
        Adv: Useful if the pop. is very small/rare; Low cost & fast
    - - Simple Random method
        
        Selected randomly people to interogate in the pop.
        
        Adv:
      - Systematic method
      - Cluster method
        
        Heterogeneous groups with diff. profiles (ex: at school profiles are all diff.: income, age, social category, etc.)
        
        One group with diff. profiles
      - Stratified method
        
        Homogenenous groups