BSB126 Chapter Notes - Chapter 7: Data Mining, Qualitative Property, Uptodate
Chapter 7: Marketing Research
- Set of techniques and principles for systematically collecting, recording, analysing, and
interpreting data
- Factors to consider
oWill the research be useful?
oIs top management committed to the project and willing to abide by the results of
the research?
oShould the marketing research project be big or small?
- Step 1: Defining objectives and research needs
oResearch is expensive and time-consuming
oDone to establish in advance what problem needs to be solved
- Step 2: Designing the research
oResearchers identify the type of data needed and determine research necessary to
get it
oDriven by step 1
- Step 3: Data collection process
oSecondary data
Pieces of information that have been collected prior to the start of the focal
research project
External data sources
Free/inexpensive external sources (census data, information from
trade associations, and reports published in magazines)
May not always be specific/timely enough
Can purchase specialised research (syndicated data)
Researchers must pay attention to how sources of inexpensive
secondary data are collected
Scanner data – obtained from scanner readings of labels at check-
outs
Panel data – collected from a group of consumers organised into
panels over time
oRecords of what they purchase
oResponses to survey questions
Internal data sources
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Accessed through sales invoices, customer lists, other company
reports
Generated by the company’s day-to-day operations
Customer information and purchase history
Data mining
oUses a variety of statistical tools to uncover previously
unknown patterns in data or relationships among variables
oCan give insight into how social networking influences
online purchase behaviour
oUseful for a broad range of situations and organisations
Churn
o(Number of participants who discontinue use of a service)
divided by (average number of total participants)
oData mining reduces these levels
oPrimary data
Data collected to address specific research needs
Qualitative research
Understand the phenomenon of interest through broad open-ended
responses
Provides initial information that helps researchers more clearly
formulate research objectives
Informal
Observation
oExamining purchase and consumption behaviours through
personal or video camera scrutiny
oCan last for any amount of time
oUseful when consumers can’t articulate their experiences
oBest method to determine how consumers might use a
product
Following social media
oContributors are willing to share their opinions about the
firm and competitors
oBlogs are valuable tools
Provide reviews, wants, trends etc.
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Document Summary
Set of techniques and principles for systematically collecting, recording, analysing, and interpreting data. Step 1: defining objectives and research needs: research is expensive and time-consuming, done to establish in advance what problem needs to be solved. Step 2: designing the research: researchers identify the type of data needed and determine research necessary to get it, driven by step 1. Step 3: data collection process: secondary data. Pieces of information that have been collected prior to the start of the focal research project. Free/inexpensive external sources (census data, information from trade associations, and reports published in magazines) Researchers must pay attention to how sources of inexpensive secondary data are collected. Scanner data obtained from scanner readings of labels at check- outs. Panel data collected from a group of consumers organised into panels over time: records of what they purchase, responses to survey questions. Accessed through sales invoices, customer lists, other company reports.
