MKT 100 Chapter Notes - Chapter 4: Focus Group
28 Jun 2018
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MKT Chapter 4 - Marketing Research
Marketing Research - a set of techniques and principles for systematically
collecting, recording, analyzing and interpreting data that can aid decision makers
involved in marketing G, S or ideas
Provides valuable information that will help marketing managers make
segmentation, positioning, product, place, price, and promotion decisions
Helps reduce some of the uncertainty under which they currently operate
Provides a crucial link between firms and their environments
oEnables firms to be customer oriented (build strategies user
customer input)
The Marketing Research Process
1. Define the research problem and objectives
If you define the problem incorrectly, you will more than likely end up
with the wrong solution
Define the problem correctly but fail to carry out the rest of the process
correctly, you may end up with useless or misleading results
Once research problem is defined, marketers must specify
Poor design arises from three major sources:
oBasing research on irrelevant research questions
oFocusing on questions that marketing research cant answer
oAddressing research questions to answers that are already known
Proper research can help companies refine their marketing efforts and
campaigns
2. Design the research project
Identify the type of data needed to determine the type of research
necessary to collect it
Identifying the type of data needed for relative market share requires
finding the company’s sales during a particular time frame relative to the
largest firm in the industry
Identifying the type of data needed for assessing the extent to which the
firms marketing position will improve/deteriorate/stay the same is not
as easy
Secondary Data - pieces of information that have been collected prior to
the start of the focal project (internal and external sources)
oCensus data, trade associations, internet, books
oNot specific or timely, maybe not be completely relevant
Primary data - data collected to address the specific research
needs/questions currently under investigation
oFocus groups, in depth interviews and surveys
oHelps eliminate any problems with secondary data
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