Market Research: Definition, Stages, and Types Essay

Submitted By DSonhengO
Words: 4208
Pages: 17

Marketing Research Defined
The objective collection, analysis and communication of information to aid in making management decisions.
Stages in the Research Process
Primary Data
Determine Data Collection Method (3)
Design Data Collection Forms (4)
Design Sample (5)
Collect Data (6)
Formulate Problem (1)
Determine Research Design (2)

Analyze and Interpret Data
Prepare the Research Report

Secondary Data
Identify Data Source
Aggregate Data
The Problem Formulation Process
Step 1: Meet with Client
Step 2: Clarify the Problem/Opportunity
Step 3: State the Manager’s Marketing Problem/Opportunity
Step 4: Develop Possible Research Objectives
Step 5: Select Research Objective(s) to Be Addressed
Step 6: Prepare Research Request Agreement
Marketing Research Objectives
Goal statements defining the specific data needed to answer the research question

7 Types of Primary Data
Examples include age, education, occupation, marital status, gender, and income
Often basis of segmenting the results
Personality refers to the normal patterns of behavior exhibited by an individual
Attributes, traits, and mannerisms (ex. Aggressive, social, friendly)
An individual’s overall evaluation of something
Energy/BBDO found that 37% of teens like to wear the logos of their favorite brands
Insight into, or understanding of facts about, some object or phenomenon
Unaided recall vs. Aided recall vs. Recognition
Anticipated or planned future behavior
Most often purchase intent.
Researcher’s interest in determining why people behave as they do
Need, want, desire, urge, drive, wish
Inner state that directs behaviour
What individuals have done or are doing
What, how much, where, when, and who (NOT WHY!)
A physical activity or action that takes place under specific circumstances, at a particular time, and involves one or more actors or participants
Observing behaviors vs. asking respondents to remember and report behaviors
Scanner data and Web analytics are both observed behavior
Accurate memory and reporting can be challenging for respondents

Steps for Research Objectives

Types of Research - Qualitative Research Quantitative Research
Research designs - Exploratory Descriptive Causal
Qualitative Research
A small number of respondents
Findings are not subject to mathematical analysis
Focused on obtaining: respondents’ in-depth comments through unstructured, verbatim discussion
Best known types:
Focus groups
In-depth interviews
Most useful:
During exploratory phases of studies
When it is difficult to articulate a question in a survey
To obtain clarification of findings from a quantitative study (when you need to know the thinking behind what respondents do and say
Attitudes and behaviours are not easy to measure
Smaller samples may not be representative of the entire population

Quantitative Research
A large number of respondents
Findings are presented using mathematical analysis:
Responses are often a selection from a scale
Frequencies, averages, correlations etc.
Formal findings can be stated with known accuracy
Best known types:
Quantitative Research
Most useful:
For measuring and assessing marketing issues
When the decision risk requires an accurate answer
For efficiently gathering and analyzing large volumes of data
Limited depth/probing
Response rates for surveys are declining
Types of Research Design
Exploratory Research
Discover ideas and insights
Descriptive Research
Describing a population with respect to important variables
Causal Research
Used to establish cause-and-effect relationships between variables

Exploratory Research
Preliminary research conducted to help figure out what other research to do increase understanding of a