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Marketing Research
Sherman Lam
March 28, 2009
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HK Immigration:
Number of Children inChina from parents not
formally married
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Marketing research provides information to
help implement
The Study of Marketing
The Use of the Marketing Concept
Marketing Strategy
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Marketing research provides information to
help implement
Marketing:process of all activitiesnecessary for the conception,pricing, promotion, and distributionof ideas, goods, and services tocreate exchanges that satisfy
individual and organizationalobjectives
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Marketing research provides information to
help implement
Marketing Concept:the businessphilosophy that holds the key toachieving organizational goalsconsists of determining the benefitssought by target market membersand delivering these benefits more
effectively & efficiently thancompetitors. This is to be done at aprofit.
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Marketing research provides information to
help implement
Marketing Strategy:consists ofselecting one or more segments ofthe market as the companys targetmarket(s) and designing the propermix of the 4Ps
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Key Point:To practice marketing; to implement
the marketing concept; to carry out a
marketing strategy, managers mustmake informed decisions.
Many decisions require additional
information and marketing researchmay be needed in order to supply
that information.
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Useful questions for determining the informationneeds of marketing managers.
What decisions do you regularly make? What information do you need to make these decisions?
What information do you regularly get?
What special studies do you periodically request? What
information would you want that you are not getting now? What information would you want daily? Weekly? Monthly?
Yearly?
What magazines and trade reports would you like to see on aregular basis?
What topics would you like to be kept informed of?
What data analysis programs would you want?
What are the four most helpful improvements that could bemade in the present marketing information system?
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"Marketing research is the function that links
the consumer, customer, and public to themarketer through information information used to identify and define
marketing opportunities and problems; generate, refine, and evaluate marketing
actions;
monitor marketing performance; andimprove understanding of marketing as a
process.
AMA- Definition of Marketing Research
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Marketing research specifies the
information required to address these issues, designs the methods for collecting
information, manages and implements the data
collection process,
analyzes, and communicates the findings and their
implications.AMA- Definition of Marketing Research
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"Marketing research is aboutresearching the whole of a
company's marketing process,(Palmer 2000) "i.e. marketing research into the
elements of the marketing mix,competitors, markets, and
everything to do with the customers.
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Market research is an
aid to decision making not a substitute for it.
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The MarketingResearch Process
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The Marketing Research Process: 11 Steps
Step One: Establishing the Need for MarketingResearch
Step Two: Defining the Problem Step Three: Establishing Research Objectives
Step Four: Determining Research Design
Step Five: Identifying Information Types and
Sources Step Six: Determining Methods of AccessingData
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The Marketing Research Process: 11 Steps cont
Step Seven: Designing Data Collection Forms
Step Eight: Determining Sample Plan and Size Step Nine: Collecting Data
Step Ten: Analyzing Data
Step Eleven: Preparing and Presenting the FinalResearch Report
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The Marketing Research ProcessStep One: Establish the Need for Marketing Research
Marketing Research is not needed whenthe:
required information is already available
decisions need to be made now
organization cant afford the research
costs outweigh the value of theresearch
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The Marketing Research ProcessStep Two: Define the Problem
The most important step in the
marketing research process isdefining the problem.
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The Marketing Research ProcessStep Three: Establish Research Objectives
What information is needed in
order to solve the problem?
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The Marketing Research ProcessStep Four: Determine Research Design
Exploratory Research: collectinginformation in an unstructured andinformal manner
Descriptive Research: refers to a set ofmethods and procedures describingmarketing variables
Causal Research (experiments and otherapproaches): allows isolation of causesand effects
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The Marketing Research ProcessStep Five: Identify Information Types and Sources
Primary Data: information that hasbeen gathered specifically for the
research objectives at hand
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The Marketing Research ProcessStep Six: Determine Methods of Accessing Data
Primary Data: collecting data fromparticipants through methods such as
telephone, mail, online, and face-to-face(quantitative), and observation studiesand focus groups (qualitative)
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The Marketing Research ProcessStep Five: Identify Information Types and Sources
Secondary Data: information that hasbeen collected for some purpose
other than the research at hand
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The Marketing Research ProcessStep Six: Determine Methods of Accessing Data
Secondary Data: accessing datathrough sources such as the Internet
and library
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Secondary-Data Sources
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Hong Kong in Figures a quick overview of major economic and social aspects of HK
http://www.info.gov.hk/censtatd/eng/hkstat/index2.html
Geography and Climate
Population & Vital Events
Information Technology
Lobour Land, Housing, Building &
Construction
National Accounts & Balanceof Payments a/c
Transport, Communications& Tourism
Public Accounts, Money andFinance
Commerce
Education Prices
Health
External Trade
Social Welfare
Production
Law and Order
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Changes in U.S. Population Distribution
Adapted fromStatistical Abstract of the United States
, 1999, 119th ed., U.S.Bureau of the Census, Washington, DC, 1999, p. 17
__________________________________________
Age Group Percent Change:2010-2020
__________________________________________
Under 5 years old 15.8
5-17 years old 7.418-24 years old 13.9
25-34 years old 15.3
35-44 years old -11.3
45-54 years old 1.9
55-64 years old 74.1
65-74 years old 73.1Over 74 years old 31.7
Total population 17.5
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Changes in the Minority Population
Minorities populations are growing
rapidly. It is predicted that by 2025:
Minorities will reach 38% of the population,
up from 28% currently.
Asian-American growth (97%) will be high.
Hispanic growth (88%), will also be high.
However, these groups are not necessarily
homogeneous.
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The Marketing Research ProcessStep Seven: Design Data Collection Forms
The design of the data collection form thatis used to ask or observe and recordinformation in marketing research projects
is critical to the success of the project. It is easy to write a set of questions but
very difficult to construct a questionnaire.
General types of instruments (forms) Questionnaires
Observation Study forms (protocols)
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The Marketing Research ProcessStep Eight: Determine Sample Plan and Size
Sample plan: refers to the processused to select units from the
population to be included in thesample
Sample size: refers to determininghow many elements (units) of the
population should be included in thesample
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The Marketing Research ProcessStep Nine: Collect Data
Sound data collection is very importantbecause, regardless of the data analysismethods used, data analysis cannot fix
bad data. Nonsampling errors may occur during
data collection. These are related to poordesign and/or execution of the data
gathering. Sampling errors may occur based purely
on chance
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The Marketing Research ProcessStep Ten: Analyze Data
Data analysis: involves enteringdata into computer files,inspecting data for errors (datacleaning), running tabulations(frequencies), and conducting
various statistical tests
h k h
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The Marketing Research ProcessStep Eleven: Prepare and Present the Final
Research Report
Findings are presented, often byresearch objective, in a clear and
concise way. The need for a good report cannot be
overstated. It is the report, and/or itspresentation, that properly
communicates the results to theclient.
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What is online research?
Online research:the use of computer networks,
including the Internet, to assist in any phase ofthe marketing research process includingdevelopment of the problem, research design,data gathering, analysis, and report writing anddistribution
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What is online research?
Web-based research:research that is conducted
to evaluate various facets of Web applications;may use traditional methods as well as on-lineresearch methods in conducting research onWeb-based applications
Online survey research: collection of data using
computer networks
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The Seven Characteristics of Good Marketing Research
1. Scientificmethod
Effective marketing research uses the principles of thescientific method: careful observation, formulation ofhypotheses, prediction, and testing.
2. Research
creativity
At its best, marketing research develops innovativeways to solve a problem: a clothing company catering
to teenagers gave several young men video cameras,then used the videos for focus groups held inrestaurants and other places teens frequent.
3. Multiple
methods
Marketing researchers shy away from overreliance on
any one method. They also recognize the value of usingtwo or three methods to increase confidence in theresults.
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Reader Digest:
Comparing honesty ofAsian people