Marketing Managers should recognize that: (1) Even the most carefully executed research can be fraught with errors; (2) Marketing research does not forecast with the certainty that will happen In the future; (3) They should make decisions in light of their own knowledge and experience; Although marketing research does not make decisions, it can reduce the risks associated with managing marketing strategies.
Marketing Research Process Can be viewed as systematic processes of obtaining information to aid in decision making.Purpose of the Research -the first step In the research process Is to determine explicitly why the research Is needed and what it is to accomplish. ;managers and researchers need to discuss and lariat the current situation and develop a clear understanding of the problem. Managers and researchers should agree on (1) the current situation involving the problem to be researched, (2) the nature of the problem, and (3) the specific questions the research is designed to investigate.
This step is crucial since it influences the type of research to be conducted and the research design. The Five As of the research Process: Purpose of the research Plan of the research Performance of the research Processing of the research data Preparation of research report Plan of the Research A research plan spells out the nature of the research to be conducted and Includes an explanation of such things as the sample design, measures, and analysis techniques to be used. Three critical issues that influence the research plan 1 .Whether primary or secondary data are needed, 2. Whether qualitative or quantitative research Is needed, 3. Whether the company will do its own research or contract with a marketing research specialist.
Primary Data- are data collected specifically for the research problem under investigation. Secondary Data- are those that have previously been collected for there purposes but can be used for the problem at hand. -secondary information has the advantage of usually being cheaper than primary data, although it is not always available for strategy-specific research questions.Qualitative research- typically involves face-to-face interviews with respondents designed to develop a better understanding of what they think and feel concerning a research topic, such as a Two common types of qualitative research in marketing: Focus groups- involve discussions among a small number of individuals led by an interviewer; they are designed to generate insights and ideas. Long interviews- are inducted by an interviewer with a single respondent for several hours.
They are designed to find out such things as the meanings various products or brands have for an individual or how a product influences a person's life. Quantitative research- involves more systematic procedures designed to obtain and analyzed numerical data. Four common types of quantitative research in marketing: Observational research- involves watching people and recording relevant facts and behaviors. -This information can be used to design store layout more effectively.
Survey research- involves the collection data by means of a questionnaire either by ail, phone, or in person. -Surveys are commonly used in marketing research to investigate customer beliefs, attitudes, satisfaction, and many other issues. Experimental research- involves manipulating one variable and examining its impact on other variables. -Experiments are useful for getting a better idea of the causal relationships among variables, but they are often difficult to design and administer effectively in natural settings.
Mathematical modeling research -Often involves secondary data, such as scanner data collected and stored in computer files from retail checkout counters. -this approach involves the placement of equations to model relationships among variables and uses econometric and statistical techniques to investigate the impact of various strategies and tactics on sales and brand choices. Company versus Contract research -Most large consumer goods companies have marketing research departments that can perform a variety of types of research.
