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    ConductingMarketing Research

    &Forecasting Demand

    CHapter

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    Chapter Questions

    What is marketing research? What constitutes good marketing research? The marketing research process.

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    What is Marketing Research?

    Marketing research is the systematic design,collection, analysis, and reporting of data and

    findings relevant to a specific marketing situationfacing the company.

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    Types of Marketing Research Firms

    Syndicated service research firms Firms gather consumer & trade information, which they sell for a

    fee e.g. ACNielsen, National Council For Applied EconomicResearch (NCAER)

    Custom marketing research firms They design & carry out research studies for various clients based

    on specific briefs.

    Specialty-line marketing research firms These firms provides specialized research services such asdeveloping a research brief, collecting field data, preparing dataanalyses & reports for other firms.

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    The Marketing Research Process

    Develop The Research Plan

    Define the problem, The decisionalternatives & the research objectives

    Collect The Information

    Make The Decision

    Present The Findings

    Analyze The Information

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    Step 1: Define the Problem

    Define the problem Problem should not be too broad or too narrow.

    Specify decision alternatives State research objectives

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    Step 2: Develop the Research Plan

    Data sources Research approach Research instruments Sampling plan

    Contact methods

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    Step 2: Develop the Research Plan

    Data sources Secondary data, primary data or both.

    Research approaches

    Observational Research Ethnographic Research Focus group Research Survey Research Behavioral data Experimental Research

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    Step 2: Develop the Research Plan

    Research instruments Questionnaires Qualitative Measures

    Technological Devices

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    Questionnaire Dos and Donts

    Ensure questions are freeof bias

    Make questions simple Make questions specific Avoid jargon Avoid sophisticated

    words

    Avoid ambiguous words

    Avoid negatives Avoid hypotheticals Avoid words that could be

    misheard

    Use response bands Use mutually exclusive

    categories

    Allow for other in fixedresponse questions

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    Question Types (Closed End) -Dichotomous

    In arranging this trip, did you contact American Airlines?

    Yes No

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    Question Types Multiple Choice

    With whom are you traveling on this trip?

    No one

    SpouseSpouse and children

    Children only

    Business associates/friends/relatives

    An organized tour group

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    Question Types Likert Scale

    Indicate your level of agreement with thefollowing statement: Small airlines generally givebetter service than large ones.

    Strongly disagree

    Disagree

    Neither agree nor disagree Agree

    Strongly agree

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    Question Types Intention to Buy Scale

    How likely are you to purchase tickets on American Airlines if in-flight Internet accesswere available?

    Definitely buy

    Probably buy

    Not sure

    Probably not buy

    Definitely not buy

    ( d) l l

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    Question Types (Open End) -CompletelyUnstructured

    What is your opinion of American Airlines?

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    Question Types Word Association

    What is the first word that comes to your mindwhen you hear the following?

    Airline ________________________

    American _____________________

    Travel ________________________

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    Question Types Sentence Completion

    When I choose an airline, the most importantconsideration in my decision is:

    _____________________________________

    _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ __________________.

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    Question Types Story Completion

    I flew American a few days ago. I noticed thatthe exterior and interior of the plane had verybright colors. This aroused in me the following

    thoughts and feelings. Now complete the story. _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________

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    Question Types Picture (Empty Balloons)

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    Technological Devices

    Galvanometers Measure the interest or emotions aroused by exposure to specific

    ad or picture.

    Tachistoscope Flashes an ad to a subject with an exposure interval that rangefrom less than one hundredth of a second to several seconds.

    Eye cameras Study respondents eye movements to see where their eyes land

    first, how long they linger on a given item.

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    Technological Devices

    Audiometers Attached to TV sets in participating homes record when the

    set on & to which channel is tuned.

    GPS Global Positioning System How many billboards a personmay walk by or drive by during a day.

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    Sampling Plan Sampling unit:

    Who is to be surveyed? Sample size:

    How many people should be surveyed? Sampling procedure:

    How should the respondents be chosen?

    Step 2: Develop the Research Plan

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    Types of Samples

    Probability Samples Simple random

    Every member of the populationhas an equal chance of selection.

    Stratified random The population is divided into

    mutually exclusive groups i.e. agegroup & random sample drawnfrom each group.

    Cluster The population is divided into

    mutually exclusive groups i.e. cityblocks the researcher draws asample of the group.

    Nonprobability Samples Convenience

    The researcher selects the mostaccessible population members.

    Judgment The researcher selects population

    members who are good prospects foraccurate information .

    Quota The researcher find & interviews aprescribed number of people in eachof several categories.

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    Pros and Cons of Online Research

    Advantages Inexpensive Fast Accuracy of data, even

    for sensitive questions

    Versatility

    Disadvantages Small samples Skewed samples Technological problems Inconsistencies

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    The data collection phase of marketing researchis generally the most expensive and the most

    prone to error.

    Data collection methods are rapidly improvingthanks to computers and telecommunications.

    Step 3: Collect the I n fo rm a t ion

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    The next to last step in the process is to extractfindings by tabulating the data and developing

    frequency distributions.

    Step 4: Analyze the I n fo rm a t io n

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    As the last step, the researcher present findingsrelevant to major marketing decisions facing

    management.

    Step 5: Present the findings

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    Research findings provide additional informationand help the managers in decision making

    process.

    Step 6: Make the decision

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    Marketing Management A South Asian Perspectiveby Philip Kotler, Kevin Lane Keller, Abraham Koshy &Mithileshwar Jha, 13th Edition, Published by PearsonEducation, Inc.

    Strategic Marketing Management Meeting TheGlobal Marketing Challenges by Carol H. Anderson &Julian W. Vincze Published by Houghton Mifflin Company.

    Principles of Advertising & IMC by Tom Duncan 2nd

    Edition, Published by McGraw-Hill Irwin.

    Principles of Marketing by Philip Kotler & Gary ArmstrongThirteenth Edition, Published by Prentice Hall

    Bibliography

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    The fragrance of flowers spreads only in thedirection of the wind. But the goodness of a

    person spreads in all directions!- Author Unknown

    The End