Chapter 4- Conducting Marketing Research 4k1ft

4 Conducting Marketing Research and Forecasting Demand

Marketing Management, 13th ed

Chapter Questions • What constitutes good marketing research? • What are good metrics for measuring marketing productivity? • How can marketers assess their return on investment of marketing expenditures? • How can companies more accurately measure and forecast demand? Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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What is Marketing Research? Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Types of Marketing Research Firms • Syndicated service • Custom • Specialty-line


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The Marketing Research Process • • • • • •

Define the problem Develop research plan Collect information Analyze information Present findings Make decision


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Step 1: Define the Problem • Define the problem • Specify decision alternatives • State research objectives


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Step 2: Develop the Research Plan • • • • •

Data sources Research approach Research instruments Sampling plan methods


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Research Approaches • • • • • •

Observation Ethnographic Focus group Survey Behavioral data Experimentation


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Research Instruments • Questionnaires • Qualitative Measures • Technological Devices


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Questionnaire Do’s and Don’ts • Ensure questions are free of bias • Make questions simple • Make questions specific • Avoid jargon • Avoid sophisticated words • Avoid ambiguous words

• Avoid negatives • Avoid hypotheticals • Avoid words that could be misheard • Use response bands • Use mutually exclusive categories • Allow for “other” in fixed response questions


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Question Types - Dichotomous In arranging this trip, did you American Airlines?  Yes  No


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Question Types – Multiple Choice With whom are you traveling on this trip?

 No one  Spouse  Spouse and children  Children only  Business associates/friends/relatives  An organized tour group Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Question Types – Likert Scale Indicate your level of agreement with the following statement: Small airlines generally give better service than large ones.  Strongly disagree  Disagree  Neither agree nor disagree  Agree  Strongly agree Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Question Types – Semantic Differential American Airlines Large ………………………………...…….Small Experienced………………….….Inexperienced

Modern……………………….…..Old-fashioned


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Question Types – Importance Scale Airline food service is _____ to me.  Extremely important  Very important  Somewhat important  Not very important  Not at all important


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Question Types – Rating Scale American Airlines’ food service is _____.  Excellent  Very good  Good  Fair  Poor


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Question Types – Intention to Buy Scale How likely are you to purchase tickets on American Airlines if in-flight Internet access were available?  Definitely buy

 Probably buy  Not sure

 Probably not buy  Definitely not buy Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Question Types – Completely Unstructured What is your opinion of American Airlines?


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Question Types – Word Association What is the first word that comes to your mind when you hear the following? Airline ________________________ American _____________________

Travel ________________________


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Question Types – Sentence Completion When I choose an airline, the most important consideration in my decision is: _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ __________________.


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Question Types – Story Completion “I flew American a few days ago. I noticed that the exterior and interior of the plane had very bright colors. This aroused in me the following thoughts and feelings.” Now complete the story. _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Question Types – Picture (Empty Balloons)


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Qualitative Measures • • • • •

Word association Projective techniques Visualization Brand personification Laddering


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Technological Devices • • • • •

Galvanometers Tachistoscope Eye cameras Audiometers GPS


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Sampling Plan • Sampling unit: Who is to be surveyed? • Sample size: How many people should be surveyed? • Sampling procedure: How should the respondents be chosen?


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Table 4.2 Types of Samples Probability Samples • Simple random • Stratified random • Cluster

Nonprobability Samples • Convenience • Judgment • Quota


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Methods • • • •

Mail questionnaire Telephone interview Personal interview Online interview


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Pros and Cons of Online Research Advantages • Inexpensive • Fast • Accuracy of data, even for sensitive questions • Versatility

Disadvantages • Small samples • Skewed samples • Technological problems • Inconsistencies


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What is a Marketing Decision System (MDSS)?

A marketing decision system is a coordinated collection of data, systems, tools, and techniques with ing hardware and software by which an organization gathers and interprets relevant information from business and environment and turns it into a basis for marketing action. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Barriers Limiting the Use of Marketing Research • • • •

A narrow conception of the research Uneven caliber of researchers Poor framing of the problem Late and occasionally erroneous findings • Personality and presentational differences Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Table 4.3 Characteristics of Good Marketing Research • • • • • • •

Scientific method Research creativity Multiple methods Interdependence Value and cost of information Healthy skepticism Ethical marketing


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What are Marketing Metrics? Marketing metrics are the set of measures that helps marketers quantify, compare, and interpret marketing performance.


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Table 4.4 Marketing Metrics External

Internal

• • • • • • •

• • • • • • • • •

Awareness Market share Relative price Number of complaints Customer satisfaction Distribution Total number of customers • Loyalty

Awareness of goals Commitment to goals Active Resource adequacy Staffing levels Desire to learn Willingness to change Freedom to fail Autonomy


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What is Marketing-Mix Modeling? Marketing-mix models analyze data from a variety of sources, such as retailer scanner data, company shipment data, pricing, media, and promotion spending data, to understand more precisely the effects of specific marketing activities.


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Marketing Dashboards • A customer-performance scorecard records how well the company is doing year after year on customer-based measures. • A stakeholder-performance scorecard tracks the satisfaction of various constituencies who have a critical interest in and impact on the company’s performance including employees, suppliers, banks, distributors, retailers, and stockholders.


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Table 4.5 Sample Customer-Performance Scorecard Measures • • • • • • •

% of new customers to average # % of lost customers to average # % of win-back customers to average # % of customers in various levels of satisfaction % of customers who would repurchase % of target market with brand recall % of customers who say brand is most preferred


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Common Measurement Paths • • • •

Customer metrics pathway Unit metrics pathway Cash-flow metrics pathway Brand metrics pathway


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The Measures of Market Demand • • • •

Potential market Available market Target market Penetrated market


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Vocabulary for Demand Measurement • • • • • •

Market demand Market forecast Market potential Company demand Company sales forecast Company sales potential


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How Can We Estimate Current Demand? • Total market potential

• Area market potential • Market buildup method • Multiple-factor index method Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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Estimating Future Demand • • • • •

Survey of Buyers’ Intentions Composite of Sales Force Opinions Expert Opinion Past-Sales Analysis Market-Test Method


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