Lecture Marketing research (12th edition) - Chapter 3: The marketing research process
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Marketing Research
Aaker, Kumar, Leone and
Day
Twelfth Edition
Instructor’s Presentation
2
Chapter Three
The Marketing Research Process
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Overview of Marketing Research
Process
MR Process Evolves From Answers to Five Key Questions:
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Marketing Research Process
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Step 1 Research Purpose
▫
▫
▫
Problem or opportunity analysis
▫
Which problems or opportunities are anticipated?
▫
What is the scope of the problems and the possible reasons?
Evaluation of decision alternatives
▫
What are the alternatives being studied?
▫
What are the criteria for choosing among the alternatives?
▫
What is the timing or importance of the decision?
Users of Research results
▫
Who are the decision makers?
▫
Are there any covert purposes?
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Problem or Opportunity Analysis
•
•
What Do Today’s Buyers
Want?
Today’s Buyers are:
▫
Skeptical
▫
Cautious
▫
Tired of selling and sales pressure
▫
Busy
▫
Confused
SOURCE: findmorebuyers.com/page.cfm/11, January 2003.
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Decision Alternatives
•
•
For research to be effective, it must be associated with a
decision.
A most useful way to clarify the decision motivating the
research is to ask:
1.
What alternative actions are being considered?
2.
What actions would be taken, given the various feasible outcomes of the
research?
•
The researcher and decision maker need to discuss all
possible criteria in advance, and choose those that are
appropriate.
•
Timing and importance are always pivotal issues in the
research process.
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Research Users—Decision Makers
•
The major benefit from making an effort to reach
all the decision makers is;
▫ To get the research purpose specified more
adequately.
▫ To absorb a good deal about the resources that are
available to deal with the problem.
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Step 2 Research Objective
▫
A statement of what information is
needed
▫
Research objective should be
framed to ensure information
obtained will satisfy research Components of research objectives:
purpose
Research Question
•
Development of Hypotheses
•
Research Scope / Boundaries
•
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Research Question
▫
Asks what specific information is required to achieve the research
purpose
Sample questions to determine if a specific
advertisement should be run:
•
Will the advertisement be noticed?
•
Will it be interpreted accurately?
•
Will it influence attitudes?
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Hypothesis Development
•
•
A hypothesis is a possible answer to a research
question.
Generating a hypothesis
Draw on previous research efforts
Borrow from other disciplines such as:
Psychology
Sociology
Marketing
Economics
Manager’s experience with related problems, coupled with knowledge and
the use of judgment
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Hypothesis Development (Contd.)
Source
Research
Purpose
•
Theory
•
Management experience
•
Exploratory research
Research
Question
Hypothesis
Research
Design
Research
Objective
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Step 3 Estimating the Value of Information
▫
Value depends on:
Importance of decision
Uncertainty that surrounds it
Influence of research information on the decision
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Illustrative Decision Models
0.6
Success
Introduce
0.4
Failure
$ 1 million
Case A
Do not introduce
$ 4 million
$0
0.6
Success
$ 4 million
Introduce
0.4
Case B
Failure
Do not introduce
$ 2.5 million
$0
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The International Marketing Research Process
•
•
Marketing research process is consistent for both domestic and international
markets
Variety of market environments affect international marketing research
process
Major Environmental Forces Influencing International Marketing
Research Process:
•
Economic Environment
•
Socialcultural Environment
•
Political and Legal Environment
•
Technological, Multimedia and Infrastructural Facilities
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The International Marketing Research Process
(Contd.)
•
To avoid mistakes:
▫
Profile your target customers and clients
▫
Interview target segments to assess how well they match your preconceived
ideas
▫
Hire local researchers
▫
Use a variety of methods (Qualitative and quantitative methods) to get a
wellrounded picture
▫
Look at the findings and analyze what must be done differently, abroad or
internationally, in comparison with current domestic marketing activities
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Framing Research Questions in an International Environment
•
Possible questions an international marketing researcher might ask to
gather information on questions that will help management narrow
the possibilities for international marketing activities;
▫
▫
▫
▫
▫
▫
▫
▫
Do opportunities exist for entry into foreign markets?
Which foreign markets warrant detailed investigation?
What are the major economic, political, legal, and other environmental
facts in each potential country?
What mode of entry does the company plan to adopt?
What is the market potential in these countries?
Who are the firm’s present and potential customers?
What is the nature of competition in the foreign market?
What kind of marketing strategy should the firm adopt?
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End of Chapter Three
