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Lecture 44

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34 views20 pages

Lecture 44

Uploaded by

faisal waleed
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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LECTURE #44

REFERENCE SLIDES
TOPIC
MARKET RESEARCH
(PART-1)
Marketing Research

“Research is the search for and


retrieval of existing, discovery
or creation of new information
or knowledge for a specific
purpose”.
Research has many categories, from
medical research to literary
research. Marketing research (also
called consumer research) is a
form of business research. It is a
form of applied sociology which
concentrates on understanding the
behaviours, whims and
preferences, of consumers in a
market-based economy.
Other Types of Business Research
In addition to marketing research, other
forms of business research include:

• Market Research is broader in scope and


examines all aspects of a business
environment. It asks questions about
competitors, market structure,
government regulations, economic
trends, technological advances, …
….and numerous other factors that
make up the business environment.

• Environmental Scanning

• Product Research

• New Product Development


Types of Marketing Research
Marketing research techniques
come in many forms, including:

• Test marketing
• Concept testing
• Mystery shopping
• Store audit
• Demand

• Commercial eye tracking

• Sales Forecasting Advertising

• Customer Satisfaction studies


• Distribution Channel

• Price Elasticity

• Segmentation research

• Consumer Decision process


research
• Positioning Research

• Brand Name testing

• Brand Equity

• Advertising and promotion


research
All of these forms of marketing research
can be classified as either problem-
identification research or as problem-
solving research.
A similar distinction exists between
exploratory research and conclusive
research. Exploratory research provides
insights into and comprehension of an
issue or situation. It should draw
definitive conclusions only with extreme
caution. Conclusive research draws
conclusions: the results of the study can
be generalized to the whole population.
Both exploratory and conclusive
researches exemplify primary research.
A company collects primary research
for its own purposes. This contrasts
with secondary research: research
published previously and usually by
someone else. Secondary research
costs far less than primary research,
but seldom comes in a form that
exactly meets the needs of the
researcher.
Marketing Research Methods
Methodologically, marketing research
uses four types of research designs,
namely:
• Qualitative Marketing Research -
generally used for exploratory purposes
- small number of respondents - not
generalizable to the whole population -
statistical significance and confidence
not calculated - examples include focus
groups, in-depth interviews, and
projective techniques.
• Quantitative Marketing Research -
generally used to draw
conclusions - tests a specific
hypothesis - uses random
sampling techniques so as to infer
from the sample to the population -
involves a large number of
respondents - examples include
surveys and questionnaires.
• Observational Techniques - the
researcher observes social
phenomena in their natural setting
- observations can occur cross-
sectionally (observations made at
one time) or longitudinally
(observations occur over several
time-periods) - examples include
product-use analysis and
computer cookie traces.
• Experimental Techniques - the
researcher creates a quasi-artificial
environment to try to control
spurious factors, then manipulates
at least one of the variables -
examples include purchase
laboratories and test markets.
Researchers often use more than
one research design. They may
start with secondary research to
get background information, then
conduct a focus group (qualitative
research design) to explore the
issues. Finally they might do a full
nation-wide survey (quantitative
research design) in order to devise
specific recommendations for the
client.
Some commonly used marketing
research terms
Many of these techniques resemble
those used in political polling and
social science research.

• Meta-analysis refers to a statistical


method of combining data from
multiple studies or from several
types of studies.
• Conceptualization means the
process of converting vague mental
images into definable concepts.
• Operationalization is the process of
converting concepts into specific
observable behaviours that a
researcher can measure. Precision
refers to the exactness of any given
measure.
• Reliability refers to the likelihood that
a given operationalized construct will
yield the same results if re-measured.
• Validity refers to the extent to which a
measure provides data that captures
the meaning of the operationalized
construct as defined in the study. It
asks, “Are we measuring what we
intended to measure?”
• Applied research sets out to prove a
specific hypothesis of value to the
clients paying for the research. For
example, a cigarette company might
commission research that attempts to
show that cigarettes are good for
one's health. Many researchers have
ethical misgivings about doing applied
research.

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