Essentials_of_Marketing_Research_4e_Ch_03.pptVIP

LEARNING OUTCOMES Classify marketing research as either exploratory research, descriptive research, or causal research List the major stages of the marketing research process and the steps within each Understand the concepts of theory and hypothesis and the critical role they play in research Know the difference between a research project and a research program Introduction Key ways in which researchers contribute to decision making: Helping to better define the current situation Defining the firm—determining how consumers, competitors, and employees view the firm Providing ideas for product improvements or possible new product development Testing ideas that will assist in implementing the marketing mix strategy for the firm Examining how correct a certain marketing theory is in a given situation Types of Marketing Research Exploratory Descriptive Causal Exploratory Research Exploratory Research Conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities. Initial research conducted to clarify and define the nature of a problem. Does not provide conclusive evidence Subsequent research expected Particularly useful in new product development. Exploratory Research and Problem Solving Symptoms – observable cues that serve as a signal of a problem because they are caused by that problem. Descriptive Research Describes characteristics of objects, people, groups, organizations, or environments. Addresses who, what, when, where, why, and how questions. Considerable understanding of the nature of the problem exists. Does not provide direct evidence of causality. Diagnostic analysis Seeks to diagnose reasons for market outcomes and focuses specifically on the beliefs and feelings consumers have about and toward competing products. Descriptive Research (cont’d) Examples The average Weight Watchers’ customer Is a female about 40 years old Has a household income of about $50,000 Has at least some college education Is trying to juggle c