F10+MKTG+3104+Student+8.+Marketing+Research+ppt

Price sensitivity promotion effectiveness unsure how

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Price sensitivity Promotion effectiveness Unsure how to define the research problem? Exploratory research Managerial Situation: VT football program sales are down. 2. Possible marketing actions? Lower price Train salesforce
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Defining the Research Problem 3. Set research objectives (Information needed) Measure likelihood of program purchase at different price levels WHY IS THE PROBLEM DEFINITION SO IMPORTANT? The problem definition guides every research step that follows. If you do not define the problem well, the rest of the research is likely to be a wasted effort. Managerial Situation: VT football program sales are down. What if promotion is the real problem?
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USING MARKETING RESEARCH 1. Information is more accessible than ever. 2. The complexity of marketing information is increasing. Number of sources 需需需 Amount of information 需需需 Sophistication of information 3. As business people, you need to be: familiar with major information sources competent in assessing information quality
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Using Marketing Research Information 5 KEY QUESTIONS IN A CRITICAL ASSESSMENT 1. Who did the research? Are they competent? Expertise and resources) Do they have a stake in the results?(Bias) Pharmaceuticals product testing
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2. If there was sampling, how good was the sample? Problem 1: Small Sample – small samples have larger random sampling error To find out whether customers like the new product section design, Krogers asks 5 customers. 100? 500? KEY QUESTIONS IN A CRITICAL ASSESSMENT
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2. If there was sampling, how good was the sample? Problem 2: Sample Selection Error – those asked to participate were different from those not asked Problem 3: Nonresponse Error - those who agreed to participate were different from those KEY QUESTIONS IN A CRITICAL ASSESSMENT
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3. What were the exact questions asked? “Results show that 85 percent of those surveyed have trouble finding produce items.” A. Do you ever have trouble finding a produce item? B. Do you often have trouble finding a produce item? C: Do you usually have trouble finding a produce item?
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