Lecture 2 1 Lecture 2 Planning for Research Department of Marketing Dr. Junzhao Ma MKF2121 Marketing Research Methods 1 A quick review of what we did last week 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 2 The process - defining the problem and developing an approach 3 Management Decision Problem (MDP) Marketing Research Problem (MRP) • Overarching statement • Specific components • Analytical Model • Research questions • Hypotheses • Specification of the information needed Defining the problem Developing the approach • How do I sell more products? • How do I stop customers from leaving? • Which segment should I target for my new products? • Should I increase prices?
Lecture 2 2 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) 4 There is not a single “right” MRP, as long as they are sensible and appropriate for the research context 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) 5 To illustrate this graphically, 6 Customer satisfaction at Crown Experience with service Type of gaming Socio‐demographic segments Consumption profile Key Drivers / Compo nents
Lecture 2 3 How do we go about formulate MRP? (i.e., where to find the key underlying issue and its main drivers)•Did we consider ALL potential drivers/determinants of customer satisfaction at Crown?–Why am I asking this question?
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