Marketing Research,6M:100 Research Requirement Marketing Research: Definition and Uses Marketing Research Process,Marketing Research,Uses of Marketing Research,Uses of Marketing Research in marketing decision support systems,Step 1: Formulate the Problem,Good problem definition: helps avoid collecting information that is superfluous to project helps you collect enough information to adequately analyze the problem allows you to write a detailed report that resolve issues help you allocate correct amount of resources,Step 2: Plan a Research Design,Exploratory Research: research that seeks to discover ideas and insights and to generate hypotheses Descriptive Research: research that studies how often something occurs, or what if any relationship exists between two variables Causal Research:,Exploratory Research Example,Focus group research on nutritional information usage groups of 6-10 primary food shoppers Met to discuss grocery shopping,Descriptive Research Example,Causal Research Example: Describe the shopper who made this grocery list (1950s):,1 lb hamburger 2 loaves Wonder Bread Carrots Rumfords Baking Powder Nescafe Instant Coffee 2 cans Del Monte Peaches 5 lbs Potatoes,1 lb hamburger 2 loaves Wonder Bread Carrots Rumfords Baking Powder 1 lb Maxwell House Coffee (drip grind) 2 cans Del Monte Peaches 5 lbs Potatoes,List # 1,List # 2,Maybe we can use Secondary Data!,Primary data: original research undertaken by firm/research company for project at hand,Secondary data: facts and figures that have already been collected for another purpose,Secondary Data: Advantages & Disadvantages,+ Quick to collect + Inexpensive - Sometimes obsolete - Of uncertain quality -May not be sufficiently detailed -May be irrelevant to current study,Primary Data,Answer Specific questions Current Known source Secrecy can be maintained Time Consuming Expensive,Step 3 Collect Data,Sample Design Use data from sample to make statistical inferences-(to draw conclusions about an entire population),Primary Data Collection Methods,How the Four Survey Methods Compare,Observation Research,Does not rely on direct interaction Observe people mechanically or in person Types,Step 4: Analyzing and Interpreting the Data,Step 5: Prepare the Final Report,Concise Summary Describe Research Statistical Information,