YDC E Challenge Workshop III PPT2

8/9/2019 YDC E Challenge Workshop III PPT2

1/39

Marketing Research

Sherman Lam

March 28, 2009


2/39

HK Immigration:

Number of Children inChina from parents not

formally married


3/39

Marketing research provides information to

help implement

The Study of Marketing

The Use of the Marketing Concept

Marketing Strategy


4/39


help implement

Marketing:process of all activitiesnecessary for the conception,pricing, promotion, and distributionof ideas, goods, and services tocreate exchanges that satisfy

individual and organizationalobjectives


5/39


help implement

Marketing Concept:the businessphilosophy that holds the key toachieving organizational goalsconsists of determining the benefitssought by target market membersand delivering these benefits more

effectively & efficiently thancompetitors. This is to be done at aprofit.


6/39


help implement

Marketing Strategy:consists ofselecting one or more segments ofthe market as the companys targetmarket(s) and designing the propermix of the 4Ps


7/39

Key Point:To practice marketing; to implement

the marketing concept; to carry out a

marketing strategy, managers mustmake informed decisions.

Many decisions require additional

information and marketing researchmay be needed in order to supply

that information.


8/39

Useful questions for determining the informationneeds of marketing managers.

What decisions do you regularly make? What information do you need to make these decisions?

What information do you regularly get?

What special studies do you periodically request? What

information would you want that you are not getting now? What information would you want daily? Weekly? Monthly?

Yearly?

What magazines and trade reports would you like to see on aregular basis?

What topics would you like to be kept informed of?

What data analysis programs would you want?

What are the four most helpful improvements that could bemade in the present marketing information system?


9/39

"Marketing research is the function that links

the consumer, customer, and public to themarketer through information information used to identify and define

marketing opportunities and problems; generate, refine, and evaluate marketing

actions;

monitor marketing performance; andimprove understanding of marketing as a

process.

AMA- Definition of Marketing Research


10/39

Marketing research specifies the

information required to address these issues, designs the methods for collecting

information, manages and implements the data

collection process,

analyzes, and communicates the findings and their

implications.AMA- Definition of Marketing Research


11/39

"Marketing research is aboutresearching the whole of a

company's marketing process,(Palmer 2000) "i.e. marketing research into the

elements of the marketing mix,competitors, markets, and

everything to do with the customers.


12/39

Market research is an

aid to decision making not a substitute for it.


13/39


14/39

The MarketingResearch Process


15/39

The Marketing Research Process: 11 Steps

Step One: Establishing the Need for MarketingResearch

Step Two: Defining the Problem Step Three: Establishing Research Objectives

Step Four: Determining Research Design

Step Five: Identifying Information Types and

Sources Step Six: Determining Methods of AccessingData


16/39

The Marketing Research Process: 11 Steps cont

Step Seven: Designing Data Collection Forms

Step Eight: Determining Sample Plan and Size Step Nine: Collecting Data

Step Ten: Analyzing Data

Step Eleven: Preparing and Presenting the FinalResearch Report


17/39

The Marketing Research ProcessStep One: Establish the Need for Marketing Research

Marketing Research is not needed whenthe:

required information is already available

decisions need to be made now

organization cant afford the research

costs outweigh the value of theresearch


18/39

The Marketing Research ProcessStep Two: Define the Problem

The most important step in the

marketing research process isdefining the problem.


19/39

The Marketing Research ProcessStep Three: Establish Research Objectives

What information is needed in

order to solve the problem?


20/39

The Marketing Research ProcessStep Four: Determine Research Design

Exploratory Research: collectinginformation in an unstructured andinformal manner

Descriptive Research: refers to a set ofmethods and procedures describingmarketing variables

Causal Research (experiments and otherapproaches): allows isolation of causesand effects


21/39

The Marketing Research ProcessStep Five: Identify Information Types and Sources

Primary Data: information that hasbeen gathered specifically for the

research objectives at hand


22/39

The Marketing Research ProcessStep Six: Determine Methods of Accessing Data

Primary Data: collecting data fromparticipants through methods such as

telephone, mail, online, and face-to-face(quantitative), and observation studiesand focus groups (qualitative)


23/39

The Marketing Research ProcessStep Five: Identify Information Types and Sources

Secondary Data: information that hasbeen collected for some purpose

other than the research at hand


24/39

The Marketing Research ProcessStep Six: Determine Methods of Accessing Data

Secondary Data: accessing datathrough sources such as the Internet

and library


25/39

Secondary-Data Sources


26/39

Hong Kong in Figures a quick overview of major economic and social aspects of HK

http://www.info.gov.hk/censtatd/eng/hkstat/index2.html

Geography and Climate

Population & Vital Events

Information Technology

Lobour Land, Housing, Building &

Construction

National Accounts & Balanceof Payments a/c

Transport, Communications& Tourism

Public Accounts, Money andFinance

Commerce

Education Prices

Health

External Trade

Social Welfare

Production

Law and Order


27/39

Changes in U.S. Population Distribution

Adapted fromStatistical Abstract of the United States

, 1999, 119th ed., U.S.Bureau of the Census, Washington, DC, 1999, p. 17

__________________________________________

Age Group Percent Change:2010-2020

__________________________________________

Under 5 years old 15.8

5-17 years old 7.418-24 years old 13.9

25-34 years old 15.3

35-44 years old -11.3

45-54 years old 1.9

55-64 years old 74.1

65-74 years old 73.1Over 74 years old 31.7

Total population 17.5


28/39

Changes in the Minority Population

Minorities populations are growing

rapidly. It is predicted that by 2025:

Minorities will reach 38% of the population,

up from 28% currently.

Asian-American growth (97%) will be high.

Hispanic growth (88%), will also be high.

However, these groups are not necessarily

homogeneous.


29/39


30/39


31/39

The Marketing Research ProcessStep Seven: Design Data Collection Forms

The design of the data collection form thatis used to ask or observe and recordinformation in marketing research projects

is critical to the success of the project. It is easy to write a set of questions but

very difficult to construct a questionnaire.

General types of instruments (forms) Questionnaires

Observation Study forms (protocols)


32/39

The Marketing Research ProcessStep Eight: Determine Sample Plan and Size

Sample plan: refers to the processused to select units from the

population to be included in thesample

Sample size: refers to determininghow many elements (units) of the

population should be included in thesample


33/39

The Marketing Research ProcessStep Nine: Collect Data

Sound data collection is very importantbecause, regardless of the data analysismethods used, data analysis cannot fix

bad data. Nonsampling errors may occur during

data collection. These are related to poordesign and/or execution of the data

gathering. Sampling errors may occur based purely

on chance


34/39

The Marketing Research ProcessStep Ten: Analyze Data

Data analysis: involves enteringdata into computer files,inspecting data for errors (datacleaning), running tabulations(frequencies), and conducting

various statistical tests

h k h


35/39

The Marketing Research ProcessStep Eleven: Prepare and Present the Final

Research Report

Findings are presented, often byresearch objective, in a clear and

concise way. The need for a good report cannot be

overstated. It is the report, and/or itspresentation, that properly

communicates the results to theclient.


36/39

What is online research?

Online research:the use of computer networks,

including the Internet, to assist in any phase ofthe marketing research process includingdevelopment of the problem, research design,data gathering, analysis, and report writing anddistribution


37/39

What is online research?

Web-based research:research that is conducted

to evaluate various facets of Web applications;may use traditional methods as well as on-lineresearch methods in conducting research onWeb-based applications

Online survey research: collection of data using

computer networks


38/39

The Seven Characteristics of Good Marketing Research

1. Scientificmethod

Effective marketing research uses the principles of thescientific method: careful observation, formulation ofhypotheses, prediction, and testing.

2. Research

creativity

At its best, marketing research develops innovativeways to solve a problem: a clothing company catering

to teenagers gave several young men video cameras,then used the videos for focus groups held inrestaurants and other places teens frequent.

3. Multiple

methods

Marketing researchers shy away from overreliance on

any one method. They also recognize the value of usingtwo or three methods to increase confidence in theresults.


39/39

Reader Digest:

Comparing honesty ofAsian people

YDC E Challenge Workshop III PPT2

Documents

Transcript of YDC E Challenge Workshop III PPT2