MKF2121 Week 01 Moodle.pdf - Lecture MKF2121 Dr Junzhao(Jonathan)Ma 1 TodaysClass Unitbasics 2 Learningobjective Develo

MKF2121 Week 01 Moodle.pdf - Lecture MKF2121 Dr...

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Unformatted text preview: Lecture MKF2121 Marketing Research Methods Dr. Junzhao (Jonathan) Ma 1 Today’s Class • Unit basics • Introduction to marketing research • A few words on the assessment tasks 2 Learning objective • Provide a working knowledge of key concepts and methods used in marketing research • Develop a capability in formulating a theoretical framework for a marketing problem/opportunity • Provide an understanding of how to formulate a research design • Develop an ability to apply SPSS statistical software • Develop an ability to interpret statistical output from a marketing perspective 3 Lecture The main goal of this unit will be to teach how to use survey method to understand customer attitudes and behaviors and their relationships • Examples of customer attitudes: satisfaction, brand perception, loyalty, etc • Examples of customer behavior: purchase frequency, spending per shopping trip, media viewing habits, etc • Most marketing research is undertaken to better understand consumer attitudes and behavior • Customer survey is the most commonly used instrument to obtain measures of customer attitudes and behavior 4 The semester is organized around achieving this goal 1. Formulate, develop and refine research questions and hypothesis (week 1, 2 and 3) 2. Design a survey to obtain quantitative measures of the key ideas/constructs (week 5, 6) 3. Analyze data with SPSS to confirm or reject the hypotheses (week 7, 8, 9, 10) 5 Unit Schedule Week Activities 0 1 2 3 4 Assessment See extended schedule for lectures and tutorials on Moodle No formal assessment or activities are undertaken in week 0 Introduction. Marketing research process Planning for research Secondary data methods Qualitative research methods. Descriptive research Mini‐task 0 due Mini‐task 1 due Mini‐task 2 due 5 Questionnaire design, measurement and scaling Mini‐task 2 due 6 Sampling Mini‐task 4 due. Research participation – TBD 7 Intro to data analysis and SPSS Mini‐task 5 due. Assignment 1 due. Research participation – TBD 8 9 Hypothesis testing 1 ‐ test of differences Hypothesis testing 2 ‐ test of association Mini‐task 6 due. Mini‐task 7 due. 10 Hypothesis testing 3 ‐ linear regression Mini‐task 8 due. Research participation ‐ TBD 11 Causal and Experimental Research Mini‐task 9 due. Assignment 2 due. 6 Lecture What differentiates this unit from most other marketing units? • It is scientific (in a social‐science kind of way) – – – – Conceptual thinking and abstract reasoning Rigorous Objective Precise • Statistics and SPSS 7 What is the unit like? • Need to be very precise with your motion (statements) 8 What is the unit not like? • It is not a free expression of your opinion or individuality 9 Lecture Why go through all these trouble? • Marketing research is an important functional area for virtually all businesses • Skills that you will acquire from this unit—such as attention to detail, the ability to think and write logically, and the ability to work with numbers—are important skills for the professional world • More broadly speaking, marketing research helps you to develop the ability to evaluate and synthesize marketing intelligence for decision making 10 How does marketing research relate to YOU? • Customers of marketing research • Producers of marketing research 11 How does marketing research relate to YOU? Wanted! • Well‐rounded mastery of marketing research with experience in both qualitative and quantitative research techniques • Requiring an outstanding combination of creativity, analytical, and technical skills. • Candidates must be familiar with advanced research design and analytical approaches (e. g. designed experiments; segmenta on analyses; etc. ) • Design, recommend and fully manage the execution of comprehensive consumer research plans • Performs research and analysis on internal and external data sets • Strong statistical capabilities for appropriate analysis of research results, including key driver analysis (such as correlations, various multivariate analysis), factor analysis, and segmentation, with proficiency in SPSS (Statistical Package for the Social Sciences) and database management skills. 12 Lecture The value of an understanding of social science goes beyond just your career Unit Delivery Activity Weeks 1.5 h Lectures 1-12 1.5 h Tutorials 1-6 1.5 h Computer sessions 7-12 14 Teaching team Lecturer and Chief examiner: – – – – – Dr. Junzhao (Jonathan) Ma Location: Caulfield, Building S, 6.21; Tel: 9903 1428 Consultations: Thursdays. 3:30 – 4:30pm Email: [email protected] Better to email me ahead of the time and let me know what is the question you have A bit about myself – BA (Yale) and PhD (Northwestern U. (Kellogg)) – Work experience in marketing and banking (Capital One Financial; JPMorgan Chase) 15 Lecture Tutors Ms. Aysha Siddiqua [email protected] Dr. Ari Pramono [email protected] Mr. Eslam Afifi [email protected] 16 Unit Outline and Resources • Moodle: – – – – Unit guide Lecture notes, weekly readings, and tutorial exercises Mini‐tasks and Assignments See News and Announcements for latest updates • Reading/Software: – Weekly reading on Moodle – SPSS (2nd half of semester) • To use – Monash library, computer labs in building K and building T • To buy ‐ ‐Grad‐Packs‐for‐Students‐by‐ IBM. The grad pack base version is sufficient 17 How to make use of lectures, readings and tutorials? • Attend the lecture and pay close attention to lecture content • Do the reading after the lecture. In particular, pay close attention on concepts and topics covered in the lecture • Sometimes, you might find that the textbook define certain concepts differently from the lecture slides. Always follow the lecture slides • The tutorials and mini task questions are very important because you need the exercise to truly grasp the topics 18 Lecture The jigsaw puzzle of the unit Lecture Tutorial Assignment 19 How to best approach this unit? ‐ as if you are learning a new foreign language • Accept the challenge • Listen carefully • Practice incessantly Most importantly, this is not a unit that you can study the night before the exam/assignment due date and pass 20 Lecture 1 Introduction to Marketing Research Department of Marketing MKF2121 21 Marketing Research Methods Lecture 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 and – solution of problems and opportunities in marketing 22 Why do marketing research? Marketing Research Problem‐Identification Research Market Potential, Market Share, Market Characteristics, Sales Analysis, Forecasting, Business Trends help identify problems which are not necessarily apparent on the surface and yet exist Problem‐Solving Research Segmentation, Product, Pricing, Promotion, Distribution help solve specific marketing problems 23 Most likely, you have been part of a marketing research project without realizing it 24 Lecture The main focus of this unit will be to learn how to use survey method to understand customer attitudes and behaviors and their relationships • Examples of customer attitudes: satisfaction, brand perception, loyalty, etc • Examples of customer behavior: purchase frequency, spending per shopping trip, media viewing habits, etc • Most marketing research is undertaken to better understand consumer attitudes and behavior • Customer survey is the most commonly used instrument to obtain measures of customer attitudes and behavior 25 A particular focus is the quantifying customer opinions, beliefs and attitudes • Example – on a 1 to 5 scale, 1 being the lowest and 5 being the highest, rate your satisfaction with your shopping experience Respondent ID Satisfaction Variable 2 Variable 3 1 3 … … 2 5 … … 3 4 … … … … … … 26 Data collected in the mini task 0 questionnaire Grade expectation (Q7) Habits/Traits Characteristics Variable name Survey Q# Variable Past academic performance Q4_1 Gender Survey Q# Q9 Enjoy math/numbers Q4_2 Nationality Q10 Enjoy drawing/writing Q4_3 Employment status Q11 Enjoy physical activity Q4_4 Type of high School Q12 Time spent on studying Q4_5 Mother’s education level Q13 # of books read Q5 Birth order Q14 27 Lecture Sample survey data Q5 Q6 Q7 Q9 On average, how long (in minutes) does your What mark do you expect to commute from home to the achieve for this unit Caulfield campus take? (MKF2121) (e.g., 50, 65, 80, What is your Write... 90, etc)? Write dow... gender? 0 15 minutes 80 1 0 40mins 85 1 4 15 85 2 2 60 80+ 2 4 10 60 2 0 25 minutes 85 2 2 45 70 1 3 600 90 2 2 30 70 1 0 30 70 1 0 1 hour 80 2 Really? 10 3 20 70 2 0 35 70 2 Hours 50 30 70 2 from uni? 10 5 65‐70 2 25 90 2 0 40 88 1 10 10 90 2 6 1 hour 70 2 In the last 12 months, how many books did you read outside of school (i.e., exclude textbooks or... Did I say minutes? We got a voracious one or two reader in our midst 28 The data collected allow you to answer questions like the following • Do male students on average have different grade expectations compared to female students? • Is there an association between preference for physical activity and grade expectation? These questions are what I call research questions (RQ) and will be discussed next week! 29 The procedure of marketing research 1. Formulate, develop and refine research questions and hypothesis 2. Obtain quantitative measures of the key ideas/constructs 3. Conduct data analysis to confirm or reject the hypotheses 30 1 Lecture A more refined delineation of the marketing research process (Malhotra 2014) 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 Analyzing Data Step 6: Preparing and Presenting the Report 31 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 Analyzing Data Step 6: Preparing and Presenting the Report 32 What do we mean by “defining the problem”? “Defining the problem” is about taking a vaguely defined problem faced by managers (MDP) and turning it into a well-defined, well-articulated and solvable problem for marketing research specialists (MRP) Management Decision Problem (MDP) Marketing Research Problem (MRP) 33 1 Lecture Examples of MDP • How do I increase customer visit and spending at Crown Casino? 34 Examples of MDP • How do I get customers to return to the Malaysian airline? 35 Examples of MDP • How do I increase members’ usage of the Caulfield Fitness Center? 36 1 Lecture Characteristics of the management decision problem (MDP) • Asks what the decision maker needs to do • Action oriented • Focuses on symptoms • Vague • Not clear how to solve 37 The process - defining the problem and developing an approach Management Decision Problem (MDP) • • • Defining the problem How do I sell more products? Which segment should I target for my new products? Should I increase prices? Marketing Research Problem (MRP) • Overarching statement • Specific components Developing the approach • • • • Analytical Model Research questions Hypotheses Specification of the information needed 38 Defining a market research problem (MRP) often involves identifying the main underlying issue and its key determinants or drivers MDP Main underlying issue • Increase customer visit/spending at Crown • Customer satisfaction at Crown • Increase bookings at Malaysian Airline • Customer trust of the Malaysian Airline brand • Increase usage of the Caulfield gym • Usage of the Caulfield gym 39 1 Lecture Structurally, Marketing Research Problem (MRP) consist of two things • Overarching statement – A broad summary of your overall research goal (often, this is the main underlying issue you are trying to understand) • Specific components – Focus on the key aspects of the MRP and provide clear guidelines on how to proceed further (Often this is about different types of determinants/drivers of the focal issue) There is not a single “right” MRP, as long as they are sensible and appropriate for the research context 40 Examples of MRP • Over-arching statement: to identify and study the key drivers of customers’ satisfaction with Crown Casino • Components (i.e., what the drivers are) – To investigate whether customers’ experience with Crown’s service influences their overall satisfaction – To study whether the type of of gaming customers engage in affect their overall satisfaction with the casino – To investigate the difference in satisfaction across customers of different socio-demographic groups – To investigate the difference in satisfaction across customers of different consumption profile (e.g., casual vs. frequent gamblers; local vs. international gamblers) 41 To illustrate this graphically, Experience with service Key Drivers / Compo nents Type of gaming Customer satisfaction at Crown Socio‐demographic segments Consumption profile 42 1 Lecture Examples of MRP components • Over-arching statement: To identify and investigate the key determinants of members’ usage of the Caulfield fitness center • Components – To study the relationship between members’ attitude towards health and fitness and their usage frequency of the center – To investigate the relationship between members’ awareness of the center’s facilities/programs and their usage rate of the center – To investigate the difference in usage frequency across demographic groups 43 Characteristics of the 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 44 A quick recap what we have just discussed about Marketing Research Problem (MRP) Some commonly asked questions (important because you need to do this for assignment 1!!!) 45 1 Lecture Structurally, Marketing Research Problem (MRP) consist of two things • Overarching statement – A broad summary of your overall research goal (often, this is the main underlying issue you are trying to understand) • Specific components – Focus on the key aspects of the MRP and provide clear guidelines on how to proceed further (Often this is about different types of determinants/drivers of the focal issue) There is not a single “right” MRP, as long as they are sensible and appropriate for the research context 46 Why do we need to develop marketing research problems (MRP)? • MRP offers a broad overview of the marketing problem you are trying to tackle • The components provide a structure to organize your specific research questions (RQs) • But remember: Components of MRP are still too broad/vague and cannot be answered directly. Most data you collect from questionnaire are quite specific. So you need to first develop RQs (next week) 47 How do we go about formulate MRP? (i.e., where to find the key underlying issue and its main drivers) • Out there in the real world – Understanding the industry – Secondary data – what other people have said about the topic (week 3) • In this unit – Secondary data – Think about different elements of the business on which the customer attitude/behavior in question is based on (E.g., Services? Product?) – Think about how the said customer attitude could vary across different group of customers (and what are the groupings) 48 1 Lecture The next step is to develop research questions (RQ) and hypotheses on the basis of your MRP’s components It gets a bit technical and we will discuss it next week 49 Ethics • Client’s ethics – Overt and covert purposes – Dishonesty in dealing with suppliers – Misuse of research information • Suppliers’ ethics – Violating client confidentiality – Improper execution of the research • Respondents’ ethics and rights – – – – Privacy and safety Know the true purpose of the research Know the research results Decide which questions to answer 50 A few words on the assessment tasks for this unit Assessment Component Weight Assignment 1: Proposal 15% Timing/Due dates Week 7 Assignment 2: Research report 21% Week 11 Mini-tasks (1-9) 10% Weeks 3-12 Research participation 4% Weeks 5-10 Examination 50% Official period Closed book • Hurdle requirement • Total 100% 51 1 Lecture Assignment 1: Research Proposal • Develop a research proposal for survey‐based research project • Group assignment (<=3 per group), and pick your group members carefully! • Due on Moodle by Sunday 11:59pm in week 7 (one submission per group) • Learning objective • Instruction will be posted on Moodle in the coming weeks 52 Group assignment but individual assessment! • Each group need to work out and agree on the individual contribution of each group member • The marks will be allocated according to the contribution • Each group member has to sign the contribution form and return it to the tutor 53 Hypothetical Assessment Outcome for Assignment 1 Example A Example B • Assignment mark 60 • Assignment mark 60 • Individual contribution ‐ equal • Individual contribution – unequal – Student 1 – 33% – Student 2 – 33% – Student 3 – 33% • Individual marks ‐ equal – Student 1 – 60 – Student 2 – 60 – Student 3 – 60 – Student 1 – 50% – Student 2 – 25% – Student 3 – 25% • Individual marks will be adjusted For differences > 10%, the group 54 need to provide an explanation 1 Lecture Assignment 2: Research Report • Write a brief research report for an assigned case • You are asked to – develop a number of research questions and hypotheses based on the case and dataset – test these hypotheses using the accompanying data – And report the results (including all statistical outputs) • Individual assignment, so work independently! • Due on Moodle by Sunday 11:59pm in week 11 • Learning objective • Turnitin 55 Mini‐tasks • Weekly questions due in tutorials • Will be posted weekly on Moodle • Marking – 0 if mini‐task is not submitted or majority of questions are incorrect – 0.5 if at least half of questions are satisfactorily answered – 1 if all questions are answered in sufficient details • Answers will be discussed in the tutorial – pay attention, since that is how you find out whether you did it right or not! (you will also find them very helpful for the major assignments and the exam) 56 Research participation/Research paper Do one of the following (hint: option A is less work) Option A: Research Project Participation • Three lab‐based studies about one hour each • Week 5 to 10 (exact date TBD) • Need to register first to be scheduled for the sessions (more on this in week 3) Option B: Research paper • Review three academic journal articles and write a summary for each paper (papers and instruction will be posted on Moodle later in the semester) 57 1 Lecture Exam • Hurdle requirement • Closed book • Many questions similar to that of mini‐tasks • Interpret statistical output 58 Recap • Unit logistics • MDP and MRP • Components of MRP Key Concepts • Marketing Research • Marketing decision problem (MDP) vs. marketing research problem (MRP) • Components of MRP • For tutorial – Review Lecture 1 notes, skim through week 1 reading on Moodle 59 2 ...
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