Unformatted text preview: heir needs and wants?
to what extend are customers satisfied with our products?
what is our brand image? – Related to the marketing mix, e.g.,
• which product design is most likely to be successful?
where should our products be sold?
in what media should we advertise our products?
how should we price a new product? Step1: Deﬁning the Objec)ves and Research Needs Three types of objectives
• Exploratory – to define the problem and suggest
– e.g., why are consumers reluctant to sit in a car in the
Mercedes show room?
• Descriptive – to describe problems better
– e.g., how has market share of brand X developed
over the past 3 years; what is the demographic profile
of customers purchasing brand X
• Causal – to test hypotheses about cause-and- effect
– e.g., has market share of our brand been affected by
the introduction of competing brand X Marke)ng research process Deﬁning the Objec)ves and Research Needs Designing the Research Data Collec)on Process Analyzing Data and Developing Insights Ac)on Plan and Implementa)on Step 2: Designing the Research • What information is needed and how is it What data to o- btained?collect and how? - What analyses transform data into high quality informa)on? l༆ Taking into account On- )me delivery Reliability Costs Representa)ve Validity Secondary vs. Primary Data Internal data (inside the firm)
• Facts and Figures
prior to the project Data
• Facts & figures
pertinent to the
problem • Financial statements, research
reports files, customer letters,
sales call reports, and
customer lists External data (outs...
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- Fall '08
- Marketing, informa