3 - 1 Chapter Chapter 3 3 Marketing Marketing Research Research 3 - 2 Key Learning Points Key Learning Points   The scope of marketing research activities The scope of marketing research activities   Where to find secondary sources of Where to find secondary sources of information information   Primary sources of marketing research Primary sources of marketing research information information   Developing estimates of market potential Developing estimates of market potential   Developing sales forecasts Developing sales forecasts   The impact of the Internet on marketing The impact of the Internet on marketing research research 3 - 3 Marketing Research Marketing Research   Three Major Functions of Research Three Major Functions of Research – – Scanning for opportunities and threats. Scanning for opportunities and threats. • • Markets, competitors, technology, and Markets, competitors, technology, and regulatory, economic, political, social, and regulatory, economic, political, social, and cultural environments cultural environments – – Risk assessment of future programs. Risk assessment of future programs. • • Current customers, competitors Current customers, competitors ’ ’ customers, customers, nonusers nonusers – – Monitoring of current programs. Monitoring of current programs. • • Performance evaluation of all segments Performance evaluation of all segments 3 - 4 Figure 3-1: Overview of the Marketing Research Process 3 - 5 Product & Service Product & Service Decisions Decisions “ “ Secondary information sources Secondary information sources are those that already exist and are those that already exist and were not developed for the were not developed for the particular problem at hand. particular problem at hand. ” ” “ “ Primary information sources are Primary information sources are those that are generated for the those that are generated for the particular problem being studied. particular problem being studied. ” ” 3 - 5 - Russell S. Winer 3 - 6 Product & Service Product & Service Decisions Decisions Key Decisions Key Decisions The Research Process The Research Process Data Sources Data Sources   Secondary Secondary – – Internal Internal – – External External   Primary Primary – – Informal Informal – – Qualitative Qualitative   Observations Observations 3 - 6   Surveys Surveys – – Personal Personal – – Phone Phone – – Mail Mail – – Internet Internet   Models and Models and Simulations Simulations   Panels Panels – – Continuous Continuous reporting reporting – – Special Special purpose purpose – – Scanner Scanner   Experiments Experiments 3 - 7 The Research Process The Research Process   Internal Secondary Data Sources Internal Secondary Data Sources – – Internal sources of information Internal sources of information exist within the organization. exist within the organization. • • Past marketing plans Past marketing plans • • Sales call reports Sales call reports • • Transaction information Transaction information • • Reverse engineering or Reverse engineering or benchmarking reports benchmarking reports • • Web site visitation information Web site visitation information 3 - 8 The Research Process The Research Process   Internal Secondary Data Sources Internal Secondary Data Sources – – Intranets share information in Intranets share information in multinational organizations multinational organizations – – Key problem with internal Key problem with internal information is obtaining information is obtaining information in a usable format information in a usable format – – Territorialism can be a problem Territorialism can be a problem when other departments are when other departments are unwilling to share information unwilling to share information 3 - 9 The Research Process The Research Process   External Secondary Data Sources External Secondary Data Sources – – Trade associations Trade associations – – General business publications (e.g. General business publications (e.g. Wall Wall Street Journal Street Journal ) ) – – Trade publications (e.g. Trade publications (e.g. Adweek Adweek ) ) – – Academic publications (e.g. Academic publications (e.g. Journal of Journal of Advertising Advertising ) ) – – Corporate reports Corporate reports – – Government publications and census Government publications and census 3 - 10 Not all information posted Not all information posted to the web is equally to the web is equally reliable. What factors reliable. What factors would you consider in would you consider in evaluating the evaluating the quality quality of of the secondary data? the secondary data? Discussion Question Visiting Yahoo! and Visiting Yahoo! and searching on the topic of searching on the topic of your choice will yield your choice will yield thousands of thousands of “ “ hits. hits. ” ” Click the graphic above to link to Yahoo! Click the graphic above to link to Yahoo! [...]... 24 The Research Process Primary Data Source: Models and Simulations – Developed to simulate a particular marketing problem – Regression is typically used to estimate the mathematical relationships between two controllable marketing variables 3 - 25 The Research Process Global Considerations in Marketing Research – The complexity of the research design is enhanced; global research requires more time... Decisions responses who are enlisted to give to questions or to provide data repeatedly over a period of time The main benefit of a panel is the ability to observe changes in behavior caused by changes in marketing variables or other factors in the marketplace.” - Russell S Winer 3 - 22 The Research Process Primary Data Source: Panels – Provide both cross-sectional and time-series data – Several problems... comparability and equivalence – Coordination of research and data collection across countries needs to be standardized, adding cost and time to research process – Intrafunctional aspect of international marketing decision-making 3 - 26 Product & Service Potential: “The maximum sales Decisions reasonably attainable under a given set of conditions within a specified period of time.” Forecast: “The amount... trends, and economic factors that affect product sales Sales forecasts are essential for production planning & inventory control Scenario planning forecasts alternative outcomes based on changes in key marketing input variables 3 - 31 Market Potential and Sales Forecasting Forecasting Judgment methods Counting methods Time-series methods Association – causal methods Judgment methods rely on pure opinion . 3 - 1 Chapter Chapter 3 3 Marketing Marketing Research Research 3 - 2 Key Learning Points Key Learning Points   The scope of marketing research. forecasts   The impact of the Internet on marketing The impact of the Internet on marketing research research 3 - 3 Marketing Research Marketing Research   Three