EXAM NOTES.docx - Planning for Research What is marketing research Marketing research is the systematic and objective Identification Collection Analysis

EXAM NOTES.docx - Planning for Research What is marketing...

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Planning for Research What is marketing research? Marketing research is the systematic and objective - Identification - Collection - Analysis - Dissemination, and use of INFORMATION! It is for the purpose of improving decision making related to - Identification - Solution of problems and opportunities in marketing Why do marketing research? The marketing research process Step 1: Defining the Problem Step 2: Developing an Approach to the Problem Step 3: Formulating a Research Design Step 4: Doing Field Work or Collecting Data Step 5: Preparing and Analysing Data Step 6: Preparing and Presenting the Report Defining the Problem “Defining the problem” is about taking a vaguely defined problem faces by managers (MDP) and turning it into a well-defined, well-articulated and solvable problem for marketing research specialists (MRP) Marketing research Problem-identification research Market potential, Market share, Market characteristics, Sales Analysis, Forecasting, Business trends Problem-solving research Segmentation, Product, Pricing, Promotion, Distribution
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Marketing Decision Problem (MDP) - Asks what the decision maker needs to do - Action oriented - Answer question how? Or should? - Focuses on symptoms - Vague - Not clear how to solve Examples: - How do I increase customer satisfaction at Crown Casino? - Should the price be cut in response to a price-cut by a competitor? - Should the product ‘X’ be introduced in the market? Marketing Research Problem (MRP) - Asks what information is needed and how it should be obtained - Information oriented (focus on understanding) - Focuses on the underlying causes - Clearly defined and articulated - Can be answered by testing each RQ and H Structure of the Marketing Research Problem (MRP) Overarching statement - A broad summary of your overall research goal (often, this is a one sentence statement of the phenomenon you are trying to understand) Examples: - To better understand customer’s satisfaction with various aspects of services offered by the Crown Casino - To investigate how the recent accidents have changed customers perception on the Malaysian airline brand
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Specific components - Focus on the key aspects and provide clear guidelines on how to proceed further (often this is about different aspects/areas of the problem) - Specific when, where, who, why, what and how statements about the problem areas that the research will investigate How to generate components from overall statement: - Think about different elements of the business on which the customer attitude/behaviour in question is based on e.g. customer satisfaction for what? Services? Products? - Think about how the said customer attitude could vary across different groups of customers (and what are the groupings?) Example Over-arching statement: To better understand members’ needs and usage of the Caulfield fitness center MDP: How do I increase members’ usage of the Caulfield Fitness Center? MRP: To study members’ needs and usage of the Caulfield fitness center. Components: - To better understand members’ usage frequency of the center’s different facilities and
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  • Fall '17
  • Erica Brady

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