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B207 Reading 3: Marketing Research - Coggle Diagram
B207 Reading 3: Marketing Research
1. Role and Purpose of Marketing Research
Ultimate Purpose: To improve decision making.
Function: Links the consumer, customer, and public to the marketer through information.
Information Uses:
Identify and define marketing opportunities and problems.
Generate, refine, and evaluate marketing actions.
Monitor marketing performance.
Areas of Application (Roles):
Behavioural (how consumers behave and why).
Attitudinal (assessing perceptions, satisfaction, and preference).
Product Development (identifying trends, testing new products).
Market Measurement (sizes, composition, profile of markets, tracking changes).
Policy Development/Evaluation and Public Consultation.
2. The Marketing Research Process (Six Key Stages)
Marketing research requires careful planning at each stage.
Research Planning: Defining issues (objectives, questions, hypotheses) and initial design (sampling, method, analysis).
Exploratory Research: Exploration of secondary research and piloting of primary research.
Refining the Research Design: Adjustment based on findings from exploratory research.
Main Research Collection: Collecting the primary research data.
Analysis & Interpretation: Statistical analysis (for quantitative data) or qualitative analysis (for textual data).
Reporting of Findings: Written report and presentation.
3. Types of Marketing Information and Data
Three principle types of marketing information
Organisation Records
Marketing research
Marketing intelligence
Types of Data/Research
Primary Research: Collected directly for the purpose in hand.
Secondary Research: Conducted for other purposes but is relevant (i.e., 'second hand').
Quantitative Data: Typically numerical data that can be statistically analysed, ideally from large, representative samples (e.g., customer ratings, tracking data).
Qualitative Data: Textual or verbal data that describe qualities and require interpretation (e.g., interviews, focus group data).
Big Data: Pooling data from different sources (e.g., loyalty cards, social media) to build detailed customer pictures.
4. Research in Small Businesses and Ethics
Small Businesses/Non-Profits: Can still conduct research without large resources by using secondary data, talking to customers, using informal surveys, and observing competitors. Care must be taken to recognise limitations and potential bias.
Ethical Issues:
Privacy: Consumers feel uneasy about the extent of data collection (e.g., behaviour, lifestyle, online presence). Must comply with data protection legislation.
Harm: Protecting research participants from any form of harm.
Distortion: Unscrupulous companies may distort research instruments or findings (e.g., skewing response options or misusing data). This damages the profession's reputation.
Safeguards: Professional bodies (like the MRS and AMA) have developed codes of conduct and ethics to ensure high standards.