Essay about Marketing and Research Approach Data

Submitted By maheenmian
Words: 982
Pages: 4
Open Document
4
Conducting
Marketing Research

Marketing Insights

Venus Razor

$300 million

$2 billion revenue (2001-2005)

2

From an MR Project, Gillette found:



Different Consumer Preferences led into four customer segments o Perfect shave seekers o Skin pamperers o Pragmatic functionalists o EZ seekers

3

Gillette’s Earlier successes
 Mach 3 razors (1998): Spent $1B in R&D and Marketing  $5 vs
$15; Blade costs 5 cents; sells at $2 (4500% profit margin)
 Fusion razors (2006): Aims to bring $1 billion revenue a year
 Fusion Proglide razors (2010)  “SilverTouch” for sensitive skin

4

Chapter Questions



Marketing Research Process
Marketing Metrics

5

Marketing Research







Systematic design of research plan
Collection and analysis of data
Reporting relevant findings
Provide Insights for making decisions for specific marketing problems
A new name: Marketing Insights

6

Marketing Research Process
1.
2.
3.
4.
5.
6.

Define the problem
Develop research plan
Collect information
Analyze information
Present findings
Make decision

7

Harley: Whether to expand to new market




Options (no options  no business decisions) o Stay with big bad bikes for brand value o Expand into the new bike market o Collaborate with other manufacturers o Any other options?
Suppose you are the decision maker. What do you need to know?

8

Step 1: Define the Problem



The most important step
State research objectives o o



Not to be used to support decisions already made
Not too broad or too narrow (New Coke; KFC?)

Harley’s research problem? o o o List of the problems…What do we want to know?
“We do not even know what we need to know…”
“We need an accurate number of XYZ.”

9

Step 2: Develop the Research Plan








Who performs the research? o Vendor o In-house
Research approach
Data sources
Research instruments
Sampling plan
Contact methods

10









Research approach o Exploratory (Qualitative) o Focus groups, interviews, observations, ethnography, mechanical devices, etc. o Descriptive (Quantitative) o Statistical analysis for: descriptive stats, association and relationships among variables o Causal (Quantitative) o Statistical analysis with experiments
Data sources
Research instruments
Sampling plan
Contact methods
11

Step 3. Collecting Information



Research approach
Data sources o Secondary data: internal, published, syndicated o Primary data: qualitative, quantitative
Exploratory: secondary data, primary data o Descriptive: secondary data, primary data o Causal: secondary data, primary data
Research instruments
Sampling plan
Contact methods o 



12





Research approach
Data sources
Research instruments for Primary Data
Qualitative
o Observational and ethnographic
 Technical devices o Focus group
Quantitative
o Survey  Questionnaire (descriptive) o Experiments (causal) o New Developments:
 Social Media and Big Data
 Biometrics




Sampling plan
Contact methods
13

Question Types – Likert Scale
Indicate your level of agreement with the following statement:
Small airlines generally give better service than large ones.

 Strongly disagree
 Disagree
 Neither agree nor disagree
 Agree
 Strongly agree

14

Question Types – Semantic Differential
American Airlines
Large ………………………………...…….Small
Experienced………………….….Inexperienced
Modern……………………….…..Old-fashioned

15

Question Types – Importance Scale

Airline food service is _____ to me.

 Extremely important
 Very important
 Somewhat important
 Not very important

 Not at all important

16

Question Types – Rating Scale
American Airlines’ food service is _____.

 Excellent
 Very good
 Good
 Fair

 Poor

17

Question Types – Intention to Buy Scale
How likely
Show More

Related Documents: Essay about Marketing and Research Approach Data

Online Boking Hotel Service Research Essay examples

Research Application in Global Business RESEARCH PROPOSAL: ‘IMPACT OF ADVANCED ONLINE BOOKING SYSTEM ON MANAGING STAFF AVAILABILITY IN LITTLE PARADISE INN’ Executive Summary This report is a proposal to conduct a research on the ‘impact of advanced online booking on managing staff availability in Little Paradise Inn’. The report will consist of the focus and purpose of the research. The report will consist of the aims and objectives of the research followed by the literature review…

Words 3801 - Pages 16

Why The Leading Brand Should Be Considered To Have The Best Products For Their Customers?

Topics Why the leading brand should to be considered to have the best products for their customers? A case study on MacDonald’s. Abstract: In the marketing community, there is big question in the marketers and the consumers concerning leading brands and the products they offer. Many question whether leading brands should be thought to offer the customers best product or otherwise. The most trustworthy brands may not have the biggest sales or market share but they have…

Words 2871 - Pages 12

Marketing Research Essay

Marketing concept means that an organization should seek to make a profit by serving the needs of customer groups. Purpose of marketing concept is to rivet the attention of marketing managers on serving broad classes of customer needs (customer orientation) rather than on the firms’ current products (production orientation) r on devising methods…

Words 3537 - Pages 15

Importance Of Marketing Plan

Marketing Plan 1. Introduction - shows aim of report - gives definition of marketing - reworded - may include brief description of product / service - may show understanding (briefly) of marketing application to product - importance of marketing plan marketing def – process of planning, executing conception, pricing, promotion and distribution of ideas, goods, services to create exchanges that satisfy individual & organisation’s objectives…

Words 506 - Pages 3

Marketing Strategy and Economic Recession Essay

>Submitted to: Ms. Ewa Maciejewski Business Research Table of Content 1. Working Title 3 2. Purpose and Justification 3 3. Objectives 3 4. Literature Review 4 4.1 Recession 4 4.2 Customer behaviour 5 4.3 Customer behavior during economic recession 5 4.4 Marketing strategies 6 5. Methodology 6 5.1 Research philosophy 6 5.2 Research approach 7 5.3 Research strategy and data collection method 7 5.4 Sample size, data analysis method and ethical issues 7 6. Anticipated…

Words 1951 - Pages 8

Small Business Essay

Unit name: Marketing Fundamental COMPENTECY CODE and title: BSBRES401A: Analyze and Present Research Information Topics for the Midterm Exam: 1. Describe 4 different methods of collecting information? 2. Describe the meaning of the following terms: * Quantitative Research * Qualitative Research * Market Research * Census * Geographics * Key Verifying * Market Research Brief * Mean * Median * Secondary Research * Validation * Data Processing…

Words 419 - Pages 2

How to conjoint Essay

magazine, see Marketing (magazine). Marketing Key concepts Product marketing Pricing Distribution Service Retail Brand management Brand licensing Account-based marketing Ethics Effectiveness Research Segmentation Strategy Activation Management Dominance Marketing operations Social marketing Identity Digital marketing Promotional contents Advertising Branding Underwriting spot Direct marketing Personal sales Product placement Publicity Sales promotion Sex in advertising Loyalty marketing Mobile marketing…

Words 2564 - Pages 11

Essay about Amity Sol Marketing Management Assignment

SECTION A ANSWER 1.. Marketing management is the analysis, planning, implementation and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. The various management philosophies are: a. The production concept: This concept is one of the oldest philosophies that guides sellers. The first occurs when the demand for a product exceeds the supply. The second situation occurs when the product’s…

Words 5172 - Pages 21

Research Paper On Market Research

11/03/2013 Market Research Presentation prepared by Lucy Miller Macquarie University © 2009 John Wiley and Sons Australia Chapter 3: Market research Learning Objectives: •discuss the importance of market research as a basis for marketing decision making •define a research problem and prepare a brief •outline the issues in research design, the role of primary and secondary data, and the uses of quantitative and qualitative research •understand the key principles of data collection and analysis…

Words 1446 - Pages 6

Project Part 1 Essay

September 2014 Project: Part 1 Market Research Anaylst Job Descriptions for Market Research Analyst Positions 1) Libbey Inc. Toledo, OH Job Title: Marketing Analyst Perform marketing and sales research and analysis support for Global Commercial Team. Conduct financial analysis. Perform online market research. Manage data and spreadsheets. Measure global events outcomes and customer activation. Track internal ideation data, capture external market data, and create databases. Maintain complete…

Words 783 - Pages 4