Chapter 1
Marke,ng Research: The (systema,c) and (objec,ve) process of finding, gathering, analyzing,
sharing, and using informa,on to help improve decision-making related to the (iden,fica,on)
and (solu,on) of (problems) and (opportuni,es) in marke,ng.
Marketing research can help us know what customers prefer, and, hence, improve our products
and services to better satisfy customers. It helps us identify which specific features we should
improve, update or add.
Why do we collect info of MR?
1. Specifies the info required to address these issues
2. Manage and implement the data collection process
3. Analyze the result
4. Communicate the findings
5. Help managers use this info to make decision
Decisions to conduct MR?
• Costs vs benefits
• Resources to conduct research
• Resources to implement the findings
• Management attitude
• Availability of information
Marke8ng research consists of:
1. Problem Iden,fica,on Research
• Market Share Research
• Sales Analysis Research
• Forecas,ng research
2. Problem Solving Research
• Segmenta,on Research
• Product Research
• Pricing Research
• Promo,on Research
• Distribu,on Research
Marketing Research Process
Step 1: Problem Definition
You have to take in consideration the information needed, and how it will be used in decision
making.
Tasks:
• Discussion with the decision makers
• Interviews with industry experts
• Analysis of secondary data
• Focus groups with customers
Step 2: Development of an Approach to the Problem
The approach is developed by creating objectives or a framework, analytical models, research
questions, and hypotheses. It also identifies what information is needed, guided by discussions
with management and experts, and analyzing existing data.
Step 3: Research Design Formulation
The research design is a plan for the study. It outlines how to collect the needed information to
test hypotheses and answer research questions. This includes defining variables, creating
measurement scales, and deciding how to gather data (e.g., surveys or experiments) and
designing a questionnaire and sampling plan.
Step 4: Fieldwork or Data Collection
Data collection involves gathering information either in person, by phone, through mail, or
electronically. A skilled team conducts this process to minimize errors in the data collected.
Step 5: Data Preparation and Analysis
Includes editing, coding, and verifying the data. The data from questionnaires are organized and
analyzed to provide insights related to the marketing research problem, which will help in
making management decisions.
Step 6: Report Preparation and Presentation
Finally, the project is documented in a written report addressing the research questions,
describing the approach, the design, data collection, analysis, and presenting the results. An
oral presentation is also made to management using visual aids like tables and graphs for better
understanding.
Compe88ve Intelligence (CI)
• The ongoing collection, analysis and reporting of information about the competitive
market place to provide decision makers with insights for better decision.
Marke8ng Research Suppliers-Services
Selec8ng a Research Supplier
• What is the reputation of the supplier?
• Do they complete projects on schedule?
• Are they known for maintaining ethical standards?
• Are they flexible?
• Are their research projects of high quality?
• What kind and how much experience does the supplier have? Has the firm had
experience with projects similar to this one?
• Do the supplier's personnel have both technical and non- technical expertise?
• Can they communicate well with the client?
