Chapter 4 Conducting Marketing Research Copyright 2016 Pearson Education, Inc. 4-1 Learning Objectives 1. 2. 3. What is the scope of marketing research? What steps are involved in conducting good marketing research? What are the best metrics for measuring marketing productivity? Copyright 2016 Pearson Education, Inc. 4-2 The Scope of marketing research American Marketing Association - Marketing research is the function that links the consumer, customer, and public to the marketer through informationinformation used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Copyright 2016 Pearson Education, Inc. 4-3 The Scope of marketing research Importance of marketing insights - Generating insights (how and why we observe certain effects in the marketplace) Copyright 2016 Pearson Education, Inc. 4-4 The Scope of marketing research Who Does Marketing Research? Marketing departments in big firms Everyone at small firms Syndicated-service research firms Custom marketing research firms Specialty-line marketing research firms Copyright 2016 Pearson Education, Inc. 4-5 Research conducted at small companies Engage students/pro fessors Tap employee creativity Use Internet Tap partner expertise Check out rivals Copyright 2016 Pearson Education, Inc. 4-6 The Scope of marketing research Overcoming Barriers to the Use of Marketing Research - Many companies still fail to use it sufficiently or correctly Copyright 2016 Pearson Education, Inc. 4-7 Figure 4.1 The Marketing Research Process Copyright 2016 Pearson Education, Inc. 4-8 Step 1 Define the problem Define the decision alternatives Define the research objectives Copyright 2016 Pearson Education, Inc. 4-9 Step 2: Develop the Research Plan Data sources - Secondary data vs. primary data Copyright 2016 Pearson Education, Inc. 4-10 Step 2: Develop the Research Plan Research approaches Observational research Focus group research Survey research Behavioral research Copyright 2016 Pearson Education, Inc. 4-11 Step 2: Develop the Research Plan Research instruments Questionnaires Qualitative measures Technological devices Copyright 2016 Pearson Education, Inc. 4-12 Questionnaire Copyright 2016 Pearson Education, Inc. 4-13 Questionnaire Copyright 2016 Pearson Education, Inc. 4-14 Qualitative measures ZMET approach Word association Projective techniques Laddering Brand personification Visualization Copyright 2016 Pearson Education, Inc. 4-15 Step 2: Develop the Research Plan Technological devices - Galvanometer - Tachistoscope - Eye-tracking - Facial detection - Skin sensors - Brain wave scanners - Audiometer - GPS Copyright 2016 Pearson Education, Inc. 4-16 Step 2: Develop the Research Plan Sampling plan - Sampling unit: Whom should we survey? - Sample size: How many people should we survey? - Sampling procedure: How should we choose the respondents? Copyright 2016 Pearson Education, Inc. 4-17 Step 2: Develop the Research Plan Contact methods Copyright 2016 Pearson Education, Inc. 4-18 Online Research Advantages - Inexpensive - Expansive - Fast - Honest - Thoughtful - Versatile Disadvantages - Small - Skewed - Excessive turnover - Technological problems - Technological inconsistencies Copyright 2016 Pearson Education, Inc. 4-19 Step 3 to Step 6 Step 3: Collect the Information Step 4: Analyze the Information Step 5: Present the Findings Step 6: Make the Decision Copyright 2016 Pearson Education, Inc. 4-20 Table 4.2 Good Marketing Research Copyright 2016 Pearson Education, Inc. 4-21 Measuring Marketing Productivity Marketing metrics Marketing-mix modeling Marketing dashboards Copyright 2016 Pearson Education, Inc. 4-22 Marketing metrics Measures that help marketers quantify, compare, and interpret performance Copyright 2016 Pearson Education, Inc. 4-23 MARKETING-MIX MODELING Analyzes data from a variety of sources, such as retailer scanner data, company shipment data, pricing, media, and promotion spending data, to understand more precisely the effects of specific marketing activities Copyright 2016 Pearson Education, Inc. 4-24 Marketing Dashboards \"A concise set of interconnected performance drivers to be viewed in common throughout the organization.\" Customer-performance scorecard Stakeholder-performance scorecard Copyright 2016 Pearson Education, Inc. 4-25 Table 4.4 Copyright 2016 Pearson Education, Inc. 4-26 Figure 4.3 Example Of A Marketing Dashboard Copyright 2016 Pearson Education, Inc. 4-27 Copyright 2016 Pearson Education, Inc. 4-28