Marketing research to gain consumer insights Flashcards
(11 cards)
Purpose of marketing research
To support the marketing manager by providing information and insights that can be used in making marketing decisions.
- Identifying marketing opportunities and problems.
- Generate, refine, and evaluate potential marketing actions.
- Monitor marketing performance
- Improve marketing as a process
Name and explain the key stages in the marketing research process
- Define the problem and research objectives
- Developing the research plan for collecting information
- Implementing the research plan - collecting and analysing the data
- Interpreting and reporting the findings
How to develop marketing information
Internal data may already exist in internal databases, and thus be accessed more quickly and cheaply
Marketing intelligence: the systematic collection and analysis of publicly available information about consumers, competitors and developments in the marketplace
Marketing research: the systematic design, collection, analysis and reporting of data relevant to specific marketing situations.
Explain marketing information
- Primary goal: to gain customer insights and improve marketing decisions.
- Competitors can copy processes and products, but they can’t replicate the company’s information.
- Marketing information system: people and procedures
Data in marketing research
- Primary information/research: information collected specifically for the problem at hand
- Secondary information/research: information that has previously been gathered by someone other for some other purpose
Time frame in marketing research
- Cross-sectional studies takes “snapshots” of the population (-collect data) at one point in time.
- Longitudinal studies repeatedly measure the same sample units of a population over time.
- Longitudinal studies often make use of a panel which represents sample units who have agreed to answer questions at periodic intervals
Categories of marketing research
- Qualitative research
- Quantitive research
- Other types of marketing research (ex. experiments)
Explain qualitative research
- Research involving collecting, analysing, and interpreting data by observing what people do and say.
- Qualitative research is useful for generating in-depth knowledge about how consumers think, terminology they use, gaining some insights into their basic needs and attitudes.
- We can learn more about a research problem or phenomenon, but we cannot generalize the findings.
Explain different types of qualitative research
- Depth interviews: the interviewing of consumers
individually, a set of probing questions posed one-on-one to a subject by a trained interviewer, so as to gain an idea of what the subject thinks about something or why he or she behaves a certain way. - Focus groups: small groups of people brought together and guided by a moderator through an unstructured, spontaneous discussion for the purpose of gaining information relevant to the research problem.
- Observation methods: techniques in which the
researcher relies on his or her powers of observation
rather than communicating with a person in order to
obtain information
Explain Quantitative research
- Research involving the use of structured
questions in which response options have been
predetermined and a large number of respondents
involved - Quantitative research is desirable when
we wish to generalize the findings to a larger population, if the study’s sample is representative. - Decisions about contact methods, sampling
plan, survey design, analytical techniques
What is “ethical” research?
➢No harm should come to research participants
➢They should agree to participate and know what the research is about (informed consent)
➢Their privacy should not be invaded (anonymity -
confidentiality)
➢They should not be lied to or cheated (no deception)
