Session 03 - MKT Research

Conducting Marketing Research
Discussion Questions
1. What constitutes good marketing

research?
2. What are the best metrics for
measuring marketing productivity?
3. How can marketers access their
return on investment of marketing
expenditures?
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 2 of 22

Marketing Research System
Companies need information about their:
Marketing environment
Effective marketing information enables an organisation to

make better decisions on the most appropriate marketing
strategies
right information
right time
right quantity
right form

ed
fi n
De
Marketing Research
The systematic design, collection,

analysis, and reporting of data and
findings relevant to a specific marketing
situation facing the company.
Creative Research Means
Check out rivals
Internet sources
Rivals
Marketing partners
Student projects
. 1
4
u r e Marketing Research Process
F ig

Step 1: Define the Problem
A broad statement of the general problem and
identification of the specific components of the
marketing research problem.
Problem Definition involves,
Discussions with decision makers
Interviews with industry experts
Analysis of secondary data
Qualitative research

Step 2: Develop the Research Plan
Research Approaches
Data Sources
•Observation
•Secondary data
•Focus groups
•Primary data
•Surveys
•Behavioral data
Sampling plan •Experiments
•Sampling unit
•Sample size
•Sampling Procedure
Contact method
•Mail contact Research instrument
•Telephone contacts •Questionnaires
•Personal contacts •Qualitative measures
•Online contacts •Technological devices
Step 3: Collect the Information
Online surveys
Telephone surveys
Interviews
In-home surveys
Step 4: Analyze the Information
Data preparation includes the editing, coding,
transcription and verification of data.’
The data are analyzed to derive information
related to the components of the marketing
research problem and thus to provide input
into the management decision problem.

Step 5: Present the Findings
• Transform raw data into insight

• Present information in clear and compelling
fashion

Step 6: Make the Decision
Research Decisions
• Research should guide decisions, not be
used to support decisions already made.
• Marketing decision support systems (MDSS)

coordinated collection of data systems, tools
and techniques with supporting software
and hardware by which an organization
gathers and interprets relevant information
from business
Characteristics of Good Marketing Research
1. Scientific method
2. Research creativity
3. Multiple methods
4. Interdependence of models and data
5. Value and cost of information
6. Healthy skepticism
7. Ethical marketing

Measuring Marketing Productivity
Marketers are facing pressure to provide clear, quantifiable
evidence as to how marketing expenditures (ads, promo, etc) are
helping their firms be more profitable.
Two complementary approaches to measuring marketing
productivity are:
Marketing-mix modeling
Marketing metrics
Marketing Metrics
Marketing metrics are measures that helps
marketers quantify, compare, and interpret
marketing performance.
Marketing
Performance

Marketing Metrics
External
• Awareness
• Market share
• Relative price
• Number of complaints
• Consumer satisfaction
• Total number of customers
• Perceived quality/esteem
• Loyalty/retention
• Relative perceived quality

Marketing-Mix Modeling
The results of marketing-mix modeling helps guide allocation on
marketing budgets. With the right models, marketers can
determine how each marketing element (sales promotions,
advertising, trade promotions, etc) impact product revenue.
Marketing mix modeling has three shortcomings, as outlined by

Dave Reibstein:
1.Focus on incremental growth rather than on long-term sales
2.Integrating multiple metrics (such as satisfaction, awareness,
and brand equity) is limited
3.These models fail to incorporate metrics related to
competitors, the trade, or the sales force.
Awareness
Expenditure
Marketing Dashboards
Dashboards are similar to the

instrument panel of an airplane.
They can be designed to provide
information in real-time that
managers can use to better
understand the market.

. 2
r e 4 Marketing Measurement
ig u
F Pathway

. 3
e 4
r
F ig u Marketing Dashboard Example

In Class Activity
Marketers are facing pressure to provide clear,
quantifiable evidence as to how marketing expenditures
are helping their firms be more profitable.
Describe different approaches available for marketing

evaluating marketing productivity.
Explain the advantages and disadvantages of each of

those approaches

Marketing metrics-assess marketing effort 04 Marks
Marketing Mix Modelling-estimate causal relationships and

measure and how marketing activity affects outcome
Evaluating Marketing Metrics 08 Marks
Marketers quantify, compare, and interpret marketing
performance
Enable to research consumer behavior continuously
Can integrate marketing effects with financial costs
Compare present results with past
Can adjust the present process
Disadvantages- high cost, effort and time in terms of monitoring
Evaluating Marketing Mix Modelling 08 Marks
Guide allocation on marketing budgets
Marketers can determine how each marketing element (sales
promotions, advertising, trade promotions, etc) impact product
revenue.
Disadvantages-Focus on incremental growth, integrating multiple
matrices

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Conducting Marketing Research

1. What constitutes good marketing

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 2 of 22

Effective marketing information enables an organisation to

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 3 of 22

The systematic design, collection,

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 6 of 22

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 7 of 22

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 10 of 22

• Transform raw data into insight

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 11 of 22

• Marketing decision support systems (MDSS)

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 13 of 22

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 15 of 22

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 16 of 22

Marketing mix modeling has three shortcomings, as outlined by

Dashboards are similar to the

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 18 of 22

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 19 of 22

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 20 of 22

Describe different approaches available for marketing

Explain the advantages and disadvantages of each of

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 21 of 22

Marketing Mix Modelling-estimate causal relationships and

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