Marketing Research
Lecture 3
Marketing Research Lecture 3
Marketing Research Lecture 3
Steps in Problem Formulation
1. 2. 3. 4. 5. Recognize the problem/opportunity Why is information being sought Understand the decision environment Use symptoms to help clarify problem Translate mgmt problem into marketing research problem 6. Determine if info exists/whether questions can really be answered Research 4 7. State researchMarketing objectives Lecture 3
Recognize problem/opportunity
Find and evaluate new opportunities and recognize problem
Which problems or opportunities are anticipated? What is the scope of the problems & the possible reasons?
Marketing Research Lecture 3
Why Information is being sought
Determine what information will be used for. What decisions will be undertaken;
1. What are the alternatives being studied 2. What are the criteria for choosing among the alternative?
Large amounts of money, time and effort are wasted because marketing requests are poorly formulated or misunderstood
Marketing Research Lecture 3 6
Understand the decision environment
Conduct a situation analysis Use exploratory research: 1.to increase understanding of a concept 2.to clarify nature of the problem 3.To identify important variables to be studied
Marketing Research Lecture 3 7
Use symptoms to clarify problem
Distinguish between symptoms and the real problem
Use the concept of Iceberg principle to discover the real problems
Marketing Research Lecture 3
Translate management decision problem into a marketing research problem
Determine what information is needed to solve the problem Determine how that information can be obtained Determine marketing research objectives;
Marketing Research Lecture 3
Determine if information exists/whether qs can be answered
You already have the information you need. Time isnt on your side. You lack the necessary resources to pull it off. The cost of the information outweighs the benefits. Do not promise more than what you can deliver hurts suppliers credibility
Marketing Research Lecture 3 10
Research Objective
Goal statements defining the specific information needed to solve the marketing research problem. Well formulated research objectives serve as a road map in pursuing the research project Research Question Development of Hypotheses Scope or Boundaries of Research
Marketing Research Lecture 3 11
Marketing Research Lecture 3
12
Describing an Apparent Problem
Management Problem: A decline in sales. Objectives of Research: A number of factors responsible for a decline in sales.. decline in demand, increased competition, loss of distribution, high prices, problem with product quality, ineffective promotions etc Needed Information: A well specified list of information is difficult to make. Gather whatever information is necessary. Data collection Project: A series of unstructured investigations needed.
Marketing Research Lecture 3 13
Identifying A Potential Opportunity
Management Problem: Identify new product ideas or develop more effective advertisements. Research Objectives: Cant be specific identify new ideas of product usage, product features, packaging and communicating about the product. Needed Information: Specified in general terms only. Consumers attitudes, behavior, likes dislikes Data Collection Project: Unstructured research exploratory in design.
Marketing Research Lecture 3 14
Selecting Between Specific Alternatives
Management Problem: Select between two or more alternatives under consideration Research Objectives: Identify the best alternatives Needed Information: Depends what is being measured. E.g. (i) for testing two or more advertisements, collect information on brand awareness & attitudes Data Collection Project: Experimentation/ casual design used. Marketing Research 15
Lecture 3
