Marketing Research in Practice

Marketing ResearchAaker, Kumar, Leone and Day Twelfth EditionInstructor’s Presentation SlidesChapter TwoMarketing Research in Practice2Marketing Research 12th Edition Marketing Research in PracticeProgrammatic ResearchDevelops market options through market segmentation, market opportunity analysis, or consumer attitude and product usage studiesSelective ResearchTests different decision alternatives such as new product concept testing, advertising copy testing, pretest marketing, and test marketingEvaluative ResearchEvaluation of performance of programs 3Marketing Research 12th Edition Information SystemA continuing and interacting structure of people, equipment, and procedures, designed to gather, sort, analyze, evaluate, and distribute pertinent, timely, and accurate information to decision makers.4Marketing Research 12th Edition DatabasesContain 3 types of information:Recurring day-to-day informationIntelligence relevant to the future strategy of the businessResearch studies that are not of a recurring nature5Marketing Research 12th Edition Decision Support Systems (DSS)DSS models are developed and adapted to support each firm’s own decision problemsUsed to retrieve data, transform it into usable information, and disseminate it to usersAllow managers to interact directly with database Provides a modeling function to help interpret retrieved information6Marketing Research 12th Edition Marketing Decision Support SystemsCombines marketing data from diverse sources into a single database, enabling product managers, sales planners, market researchers, financial analysts, and production schedulers to share information7Marketing Research 12th Edition Marketing Decision Support Systems (Cont.)Routine comparisons of current performance against past trends on each of the key measures of effectivenessPeriodic exception reports to assess which sales territories or accounts have not matched previous years’ purchasesSpecial analyses to evaluate the sales impact of particular marketing programs, and to predict what would happen if changes were made8Managers’ need for decision-relevant information:Marketing Research 12th Edition Characteristics of MDSSInteractiveFlexibleDiscovery orientedUser friendly9Marketing Research 12th Edition Components of MDSSDatabaseReports and DisplaysAnalysis capabilitiesModels10Marketing Research 12th Edition Components of MDSS (Contd.)11ManagerModelingAnalysisDisplayDatabaseEnvironmentMarketing Research 12th Edition Comparison of Brand Performance with Industry Trend12Marketing Research 12th Edition Gaining Insights from a MDSS13Marketing Research 12th Edition Participants in Marketing Research Activities14Information UsersInformation Suppliers:Inside the CompanyInformation Suppliers:Outside the Company General management Planning Marketing and sales managers Product managers Lawyers Marketing research department Sales analysis group Accounting department Corporate strategic planning Research consultants Marketing research suppliers Advertising agenciesMarketing Research 12th Edition Information Suppliers and Services15Marketing Research 12th Edition Factors Influencing Choice of Information SupplierLack of specialized skills or experience internally in that areaUse outside help to boost internal capacity in response to urgent deadlinesIt may be cheaper to go outsideOutside suppliers may have special facilities or competencies which would be costly to duplicate for a single studyPolitical considerations may dictate use of a credible outside research specialist Research findings by an outside supplier is more credible especially in litigation or in proceedings before regulatory or legislative bodies. 16Marketing Research 12th Edition Growth in Research Spending in United States17Marketing Research 12th Edition Type and Nature of Services18Marketing Research 12th Edition Customized ServicesWork with individual clientsSyndicated Services Routinely collect information on several different issues and provide it to firms that subscribe to their services (e.g., Nielsen television index)Standardized ServicesProjects conducted in standard, pre-specified manner and supplied to several different clients. (e.g., Starch readership survey)Type and Nature of Services (Contd.)19Marketing Research 12th Edition Field Services Work with individual clientsSelective Services Routinely collect information on several different issues and provide it to firms that subscribe to their services (e.g., Nielsen television index)Branded Products Services Projects conducted in standard, pre-specified manner and supplied to several different clients. (e.g., Starch readership survey)Criteria For Selecting External SuppliersA thorough search for companies with an expertise in the area of studySelection of a small number of bidders on the basis of recommendations of colleagues or others with similar needsPersonal interviews with potential project leaders, asking for examples of previous work, their procedures for working with clients, and ability to provide referencesCheck of the references of each potential supplier, with special attention to comments on expertise, creativity, and the quality and adequacy of resources available20Steps in deciding if supplier can deliver promised data, advice, or conclusions:Marketing Research 12th Edition Career Opportunities in Marketing Research Marketing Research Analyst Marketing Information Manager Project Manager Director of Market Research Research Account Manager Research Analyst Methodologist21Marketing Research 12th Edition 22End of Chapter TwoMarketing Research 12th Edition