Marketing Research 7th Edition Aaker, Kumar, Day Business Research Skills: Essentials of Market...

Marketing Research 7th Edition Aaker, Kumar, Day

Business Research Skills:Essentials of Market

Research

WLU MBA BU 610 Workshop

F.H.Rolf SeringhausProfessor

Saturday, January 15, 2005

IntroductionThe Market Research ProcessThe Research DesignMethods of obtaining InformationWhat Information do we want?Summary

Introduction

Role of Market Research

Specifies information required

Designs method for collecting information

Manages and implements data collection process

Interprets results & communicates findings

Ethics in Marketing Research

Ethics of the Sponsor Overt and covert purposes Dishonesty in dealing with suppliers Misuse of research information

Ethics of the Supplier Violating client confidentiality Improper execution of research

Respondents Abuse Falsifying answers

Marketing Research in Practice

Programmatic Research Develops market options through market

segmentation, market opportunity analysis, or consumer attitude and product usage studies

Selective Research Tests different decision alternatives such as new

product testing, advertising copy testing, pre-test marketing, and test marketing

Evaluative Research Evaluation of performance of programs

The Market Research Process

Overview of Research Process

MR Process Evolves From Answers to Five Key Questions

Why should we do research? What research should be done? Worth doing the research? How should the research be designed to

achieve the research objectives?What will we do with the research?

1.Problem definition & research questions

2.Exploratory research

Secondary data

Preliminary interviews

3. Formal research design (e.g., survey, experiment)

4. Data collection & analysis

5. Interpreting & reporting results

Observation

Translate Problem into Research Objective…

Problem/question:

should our bank offer web banking (WB)?

In which of three possible versions should the service be offered?

…Translate Problem into Research Objective…

Research questions:

Are consumers aware of WB systems?What are consumer reactions to WB?How do consumers react to service form A,B,C?What are the perceived benefits of each form of service?

…Translate Problem into Research Objective

Research objectives:

Determine consumer awareness with aided recallMeasure attitudes and beliefs about WBObtain ratings and rankings for each form of serviceIdentify perceived benefits of, and objections to, WB

Manager’s checklist:When to use exploratory research

when existing background information is limitedto more clearly define problems or opportunitiesto clearly establish research objectivesto determine if conclusive research is neededto help design a questionnaire for conclusive researchto investigate in more depth the findings of a conclusive study

The Research Design

Research Design and Implementation

Research Design The detailed blueprint to guide the

implementation of a research study toward the realization of its objectives

Three types of market research

exploratory descriptive causaldegree of unaware aware clearlyproblem defineddefinition

possible sales decline? who’s buying? what do theysituation interest in what features prefer?

product idea? preferred? which campaignmore effective?

The Sampling Concept

Universe > Sampling Frame > Sample > Respondents

Sample minus respondents = non-respondents

Respondents plus non-respondents = sample

The Concept of Sampling

Population

Sampling Frame

Sample

Respondents

Our Poll shows 92% don’t tell the truth on Polls

Accuracy of Measurement

Validity

an attitude measurement has validity when it measures what it is supposed to measure

Reliability

consistency with which the measure produces the same results with the same or comparable population

Methods of obtaining Information

Basic Survey Methods

Personal Interview

Telephone Interview

Mail Survey

Internet Surveys

Personal Interviews: Advantages

Can arouse and keep interest

Can build rapport

Ask complex questions with the help of visual and other aids

Clarify misunderstandings

High degree of flexibility

Probe for more complete answers

Accurate for neutral questions

Do not need an explicit or current list of households or individuals

Personal Interviews: Disadvantages

Bias of Interviewer

Response Bias Embarrassing/personal questions

Time Requirements

Cost Per Completed Interview Is High

Telephone Interviewing: Advantages

Central location, under supervision, at own hours

More interviews can be conducted in a given time Travelling time is saved

More hours of the day are productive

Repeated call backs at lower cost

Absence of administrative costs

Lower cost per completed interview

Intrusiveness of the phone and ease of call backs Less sample bias

Telephone Interviewing: Limitations

Inability to employ visual aids or complex tasks

Can't be longer than 5-10 min. or they get boring

Amount of data that can be collected is relatively less

A capable interviewer essential

Sample bias As all people do not have phones, or are not listed

Mail Surveys: Advantages

Lower cost

Better results, including a shorter response time

Reliable answers as no inhibiting intermediary

Survey answered at respondents discretion

Mail Surveys: Disadvantages

The identity of the respondent is inadequately controlled

No control over whom the respondent consults before answering the questions

The speed of the response can't be monitored

No control on the order in which the questions are exposed or answered

Respondent may not understand questions

No control over omissions, appropriateness of response

Long response time

Mail Surveys: Disadvantages

The respondent may not clearly understand the question and no opportunity to clarify

No long questionnaires

Subject to availability of a mailing list

Response rate is generally poor

Number of problems such as obsolescence, omissions, duplications, etc

Internet Surveys: some thoughts respondent needs computer skills

respondent can choose own schedule for completion

easy to incorporate complex branching questions

can easily use respondent-generated words in questions throughout survey

can accurately measure response time of respondents to key questions

can easily display variety of graphics and directly relate them to questions

eliminates need to encode data from paper

speedier data collection, coding, analysis

What Information do we want?

What kind of information do we want to obtain?

What people say they want > attitudes

What people think is true > beliefs

What people do > behaviour

What people are > attributes

ExamplesAttitudes

a) should Personal Financial Advisors be legislated?

Yes/No

b) how do you feel about legislating Personal Financial Advisors?

1 - strongly oppose… 5 - strongly favour

Examples

Beliefs:a) is this statement true or false:

Personal Financial Advisors take advantage of older people: true/false

b) do PFAs take advantage of older people?

1 - always … 6 - never

ExamplesBehaviour:

a) have you ever used a Personal Financial Advisor? Yes/No

b) do you think you will use the services of a PFA at some time in the future?

1-no, 2-unlikely, 3-very likely, 4-yes

ExamplesAttributes:

a) are you currently married?Yes/No

b) how many children have you had? None, 1, 2, 3…c) do you have an investment

portfolio?Yes/No

Designing the QuestionnaireLogical Steps to Develop a Good QuestionnairePlan what to measure

Formulate questions to obtain the needed information

Decide on the order and wording of questions and the layout of the questionnaire

Using a sample, test the questionnaire for omissions and ambiguity

Correct the problems (pretest again, if necessary)

Open-ended questionsQuestion: Why did you purchase that automobile?Individual 1:

it was on saleIndividual 2:

there were so many things I likes about it. It had a pretty green colour, comfortable seats, an AM/FM radio and CD player, got good gas mileage, had an 80,000 km warranty, a V6 engine. Oh, yes, it was also on sale, so I got a good deal on it.

Closed-response Questions

There Are Two Basic Formats for Closed Ended or Structured Questions

Choice from a list of responses

Appropriate single-choice rating on a scale

Closed-response Questions: Advantages

Easier to answer

Require less effort by the interviewer

Tabulation and analysis is easier

Less potential error in the way the question is asked and the way it is recorded

The responses are directly comparable from respondent to respondent

Closed-response Questions: Limitations

Disagreement among researchers on the type of responses that should be listed

The answer to a closed response question will be received no matter how relevant or irrelevant the question is in that context

May not produce meaningful results

Dichotomous questions are prone to a large amount of measurement error because the alternatives are polarized

Order Bias: Does The Question Create The Answer?

5.74. Asked about both advantages and disadvantages

0.03. Asked only about disadvantages

16.72. Asked only about advantages

2.81. No question asked

Percentage of Respondents “Very Much Interested” in Buying New Product

Questions Preceding Buying Interest Question

Guidelines for writing questions

use simple wordsdo not be vaguekeep it shortbe specificavoid biasdo not be too specificdo not talk down to respondentsavoid objectionable questionsavoid hypothetical questions

Sequence And Layout Decisions

Open with an easy and non threatening question

The questionnaire should flow smoothly and logically from one topic to the next

Proceed from broad general questions to the more specific

Proposal DevelopmentManager describes problem & states management question

Researcher translates management question into research question

Researcher explores alternative approaches

Manager & researcher discuss proposal, clarify & redefine problem & objectives of project

Researcher refines research question

Researcher elaborates research question into investigative question (s)

Researcher prepares proposal

Manager reviews proposal

Study begins

They disagree

They agree Not

accepted

Summary:What’s important in market

researchUnderstanding the role of market researchConduct research ethicallyTranslating problem into research objectiveA clear research designSelecting the appropriate sampleChoosing the right survey methodCreating a clear, user-friendly questionnairePre-test before launching the survey

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