Marketing Research Slides.pdf - Marketing(MM2 2018\/19 Session 3 Vincent Mak Reader(Associate Professor in Marketing Decision Sciences CJBS

Marketing Research Slides.pdf - Marketing(MM2 2018/19...

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Marketing (MM2, 2018/19): Session 3 Vincent Mak Reader (Associate Professor) in Marketing & Decision Sciences, CJBS [email protected]
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Framework of Marketing Strategy Situation Analysis Targeting Positioning Marketing Mix Execution -Product -Price -Place -Promotion -Customer -Competition -Company -Context -Collaborator 5Cs 4Ps Sessions 2-4
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Today’s Agenda Marketing Research What is marketing research? Process of research Types of data Research designs Focused example : Laddering
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Where to Open a New Burger King?
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Marketing Research Planning, collection and analysis of data relevant to marketing decision making Communication of the results of the research to management
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Good Marketing Research Go beyond what’s obvious to clients Cost-effective fit of technique to questions Specific, actionable, strategic recommendations (Cf. Andreasen 1985 in major readings)
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The Marketing Research Process Step 1: Defining the Problem Step 2: Develop Research Questions/Objectives/Hypotheses Step 3: Formulating a Research Design Step 4: Collecting Data Step 5: Preparing and Analyzing Data Step 6: Preparing and Presenting the Report
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Problem Definition + Research Questions Problem definition: What is the big picture? What decisions must client make? Research questions: Define/Refine what to do to answer the problem E.g. Who would buy your product and why? Who compete with you? Macro (e.g. legal) issues? How does distribution work in market? Mapping to 5Cs is a good start: Refer to the autoinjector exercise in Session 1
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Iceberg Principle in Problem Definition The dangerous part of a research problem is often neither visible to nor understood by managers
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Symptoms Can Be Confusing (1): Smartphone New smartphone model Sales are poor Distributors complain high prices Price too high – need to find out how much cheaper product should be??? An alternative explanation?
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Symptoms Can Be Confusing (2): Microbrewery Survey shows consumers prefer taste of competitor Taste not good – need to find out how to reformulate the taste???
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  • Spring '19
  • Marketing, Qualitative Research

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