Marketing Research

Chapter 5

Warm-Up

Why is it important for companies to do market research?

Marketing Research

Procedure designed to identify solutions to a specific marketing problem through the use of scientific problem-solving

Scientific Decision-Making

Step One Define the Problem

Clearly define/state the problem Have several people review it to make sure it is

understandable

Scientific Decision-Making

Step Two Analyze the Situation

Identify what is already known Information currently available

Look at the solutions already attempted Review additional information and talk to people who

have ideas or other information

Scientific Decision-Making

Step Three Develop a Data Collection Procedure

What additional information is needed and how to collect that information

Secondary Data Information already available (collected for another

purpose) Examples: government reports, studies by colleges, information

from trade associations or other business groups Primary Data

Information collected for the first time to solve the problem being studied

Step Four Gathering Information

Types of Primary data Surveys or Questionnaire Observation Focus Groups

Scientific Decision-Making

More to Step Four

Collect Your Data Determine how you will collect your data

If you are conducting a survey/questionnaire you must decide how you will conduct this survey Telephone Mail Email Internet In-person

Step Four Continued

Designing a survey Define your question (what information are you

wanting to determine from your survey) Go back to Step one if necessary Keep to one page if possible Questions should be clear and easy to answer Only most important questions should appear Close-ended Questions

Yes/no; choices given; agree/disagree Open-ended Question

Respond in own words

Step Four Continued

Analyze Data Interpret the information you have found

Put it in writing Use graphs or charts

Scientific Decision-Making

Step Five Propose a Solution

Identify strategies to solve problems or improve marketing activities

Research Reports Statement of Problem Review of Secondary Data Research Procedures Results of Research Summary and Recommendation

Brainstorming ideas

Scientific Decision Making Example

Statement of Problem: Availability of computer labs to teachers for class

activities is too limited Analyze Situation

Known: Tried Solutions Other feedback

Develop a Collection Procedure Secondary Data Primary Data

Survey

Survey Questions