Chapter 8 Marketing Research and Sales Forecasting Principles of Contemporary Marketing Kurtz &...
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Chapter 8Marketing Research and
Sales Forecasting
Principles of
Contemporary MarketingKurtz & Boone
CHAPTER 8 Marketing Research and Sales Forecasting
Chapter Objectives
1. Describe the development of the marketing research function and its major activities.
2. Explain the steps in the marketing research process.
3. Distinguish between primary and secondary data and identify the sources of each type.
4. Explain the different sampling techniques used by marketing researchers.
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Chapter Objectives
5. Identify the methods by which marketing researchers collect primary data.
6. Explain the challenges of conducting marketing research in global markets.
7. Outline the most important uses of computer technology in marketing research.
8. Identify the major types of forecasting methods.
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Development of the Marketing Research Function
o Advertising pioneer N. W. Ayer conducted the first organized marketing research project in 1879
o Charles C. Parlin organized the nation’s first commercial research department at Curtis Publishing
o Research methods grew more sophisticated in the 1930s with better sampling techniques and greater accuracy
o Computer technology has significantly advanced market research
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Who Conducts Marketing Research?
o Syndicated services - Organization that provides standardized data on a periodic basis to its subscribers
o Full-service research suppliers - Marketing research organization that offers all aspects of the marketing research process
o Limited-service research suppliers - Firm that specializes in a limited number of activities, such as conducting field interviews or performing data processing
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Secondary Data Collection
o Secondary data comes from many sources and can be internal data or external data
o Government datao Nation’s most important source of
marketing data
o The U.S. Census of Population contains a wealth of valuable information for marketers
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Private Data
o Variety of sources:o Trade associations
o Business and trade magazines
o Electronic systems
o Radio-frequency identification technology
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Sampling Techniques
o Sampling - Process of selecting survey respondents or research participants
o Population or universe - Total group of people a researcher wants to study
o Probability sample - Sample that gives every member of the population a chance of being selected
o Simple random sample - Every member of relevant group has an equal opportunity to be sampled
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Sampling Techniques
o Stratified sample - Randomly selected subsamples of different groups are represented in the total sample
o Cluster sample - Researchers select subgroups from which they sample
o Nonprobability sample - Sample that involves personal judgment in the selection process
o Convenience sample - An accidental sample
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Conducting International Marketing Research
o Follow same basic steps as for domestic marketing research
o Researchers must be aware of cultural and legal environments
o May have to adapt research methods to local conditions
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Interpretative Research
o Researcher spends time studying the culture, called ethnographic research
o Focus is on understanding the meaning of the product or consumption experience in the consumer’s life
o Captures what consumers actually do, not just what they say they do
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Marketing Information Systems (MIS)
o A planned, computer-based system designed to provide decision makers with a continuous flow of information relevant to their areas of responsibility
o Well-constructed MIS is the company’s nerve center because it continually monitors marketing environment and provides instantaneous information
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Marketing Decision Support Systems (MDSSs)
o Marketing information system component that links a decision maker with relevant databases and analysis tools
o Develops raw data into information useful for decision making
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CHAPTER 8 Marketing Research and Sales Forecasting
Data Mining
o The process of searching through computerized data files to detect patterns
o Focuses on identifying relationships that are not obvious to marketers
o Efficient way to sort through huge amounts of data and make sense of ito Example: Strategic Vision conducted a
data-mining study of car sales to link motivation to purchase
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Business Intelligence
o Process of gathering information and analyzing it to improve business strategy, tactics, and daily operations
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CHAPTER 8 Marketing Research and Sales Forecasting
Competitive Intelligence
o A form of business intelligence that focuses on finding information about competitors using published sources, interviews, observations by salespeople and suppliers in the industry, and other sources
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Sales Forecasting
o Estimate of a firm’s revenue for a specified time period
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
CHAPTER 8 Marketing Research and Sales Forecasting
Copyright © 2012 by South Western, a division of Cengage Learning. All rights reserved.
