Principles of marketing: Lecture 13

MGT301
Principles of Marketing
Lecture­13


Summary
of
Lecture-12


Marketing Research


Steps in the Marketing Research Process


1.
1. Problem
Problem Definition
Definition and
and the
the
Research
Research Objectives
Objectives
2.
2. Developing
Developing the
the Research
Research Plan
Plan

3.
3. Implementation
Implementation
4.
4. Interpretation
Interpretation and
and Reporting
Reporting
of
of Findings
Findings


Today’s Topics




Marketing Research (cont..)
Consumer Market­understanding the consumer 


Research Instruments
– Questionnaires 
  Include open­ended and closed­ended questions
  Phrasing and question order are key
– Mechanical instrument

Contact Methods
  Mail questionnaires





 Telephonic Interview
 Personal interview
– Group interview…Focus group interview
Online Research


Step-3
Implementing the Research Plan

Collecting the Data


Analyzing the Data




After the data have been collected, the next step in the 
research process is data analysis.



The purpose of data analysis is to interpret and draw 

conclusions from the data that has been collected.


Key
Key
Issues
Issues

Is
Is the
the sample
sample representative?
representative?
Is
Is the
the data
data reliable?
reliable?
Is
Is the
the data
data valid?
valid?
Are
Are the
the statistical
statistical techniques
techniques
appropriate?
appropriate?

Step-4
Interpretation and Reporting
of Findings




After data analysis is completed, the researcher must prepare 
the report and communicate the conclusions and 
recommendations to management.
The research will ordinarily be required to present both written 
and oral reports on the project.


Research Is Useful If:


We put thought into it before we do it



We do the right kind of research



We use judgment in interpreting and using the results

Consumer Market


All individuals and households who buy or acquire goods and 
services for personal consumption


– Firm needs to know
– Who buys?
– How they buy?
– When and where they buy??
– Why they buy?
– How they respond to marketing stimuli?


Why do you think marketers know these
things?

?


Because they study consumer behavior
(CB)


What is
Consumer Behavior about?




How, why, where and when consumers make purchase 
decisions?



Considers who influences the decisions?



How are purchases made?



What information is needed for those decisions?



What factors affect these decisions?

 



Why is it Important?




Consumers determine the sales and profits of a firm by their 

purchase decisions, thus the economic viability of the firm.
In late 1990, US consumers were spending enough dollar bills 
to stretch from the Earth to the Sun and back, with enough left 
over for over 600 lines to the moon!


Customer vs. Consumer Behavior






Customer behavior 
Includes both individual consumers who buy goods and 
services for their own use and organizational buyers who 
purchase business products.
Consumer behavior 
Is the process through which the ultimate buyer makes 
purchase decisions.


Consumer Behavior Defined






The study of the processes involved when individuals or groups 

select, purchase, use, or dispose of products, services, ideas, 
or experiences to satisfy needs and desires (Solomon, 1996).
Those actions directly involved in obtaining, consuming and 
disposing of products and services, including the decision 
processes that precede and follow those actions (Engel et al. 
1995).
Examines mental and emotional processes in addition to the 
physical activities  (Wilkie 1990).


Consumer Behavior Deals With …

 Actions in Purchasing and Using Products
 Including Behavior and Thought Processes