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Marketing Research: Block 1 - Reading 3 - Coggle Diagram
Marketing Research: Block 1 - Reading 3
The Roles of Marketing Research
Strategic Value: Embeds into corporate plans to guide goals, information needs and delivery.
Applications: Spans behavioural analysis, attitudinal research, product development, policy evaluation, public consultation, communications, public relations and market measurements.
Definition: The function linking the consumer and public to the marketer through information to define opportunities/problems, evaluate actions and improve decision-making.
The Marketing Research Process
Refining the Research Design: Adjustments based on exploratory findings.
Main Research Collection: Gathering primary research data.
Exploratory Research: Exploring secondary research and piloting primary research.
Analysis and Interpretation: Statistical or qualitative analysi.
Research Planning: Defining issues, objectives, questions/hypotheses, briefs/proposals and initial design (sampling and methods)>
Reporting of findings: Delivering written reports and presentations.
Marketing Research in Small Businesses and Non-profits
Requires careful design to avoid bias and strict compliance with data protection.
Uses accessible methods likes secondary data, informal customer talks, internet searches and competitor observation due to limited resources.
Ethics and Martketing Research
Key Concerns: Safeguarding personal data, ensuring privacy, protecting participants from harm and avoiding distorted or manipulative findings.
Personal Standards: Governed by codes of conduct from organisations like the MRS, AMA and Canadian Marketing Association, alongside legal data protection regulations.
Types of Data Collection
Marketing Research
Primary Research: Surveys, observation, experiments, interviews, focu groups and projective techniques.
Marketing Intelligence (External): Publicly available data, websites/forums, news articles, trade publications and books.
Organisational Records (Internal): Sales data, complaint records, loyalty scheme data, website usage and accounting records.
Data Nature
Quantitative: Numerical data from large representative samples analysed statistically.
Qualitative: Textual/verbal explanatory data regarding attitudes, feelings and motivations requiring interpretation.