Resumen
Summary MARKETING RESEARCH SUMMARIES CHP 3
- Grado
- Institución
- Book
detailed summary of the marketing textbook (marketing research 4th edition) for Bem 314 covers all the chapters contained in the book
[Mostrar más]Vista previa 2 fuera de 6 páginas
Vista previa 2 fuera de 6 páginas
Añadir al carrito
Añadir al carrito
Libro relacionado
Título del libro:
Autor(es):
- Edición:
- ISBN:
- Edición:
Más resúmenes para
-
MNM3709 ASSESSMENT 2 SEMESTER 2 2024 You have been appointed to analyse Ocean Basket's market by practically describing the five role players and their roles based on Ocean Basket purchasing situatio...
-
MNM3709 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 11 September 2024
-
MNM3703 ASSIGNMENT SEMESTER 2 2024 Steps of the Wheel of Personal Selling Types of Objectives in Personal Selling
Vendedor
Seguir
029sabrinadias
Vista previa del contenido
BEM 314Chapter 3: Overview of marketing research process
Introduction
There is a logical sequence of steps to be followed in order to ensure that the
identified problem is solved
Marketing research specifies what info is requires, selects the data collection
methods, implements and manages the data collection process, analyses the results
and communicates the findings and their implications to marketing management
The distinction between preliminary and formal marketing research
There is no set procedure for the marketing research process, any research project
should consist of two distinct part: preliminary research investigation and formal
marketing investigation
Preliminary research is undertaken to establish whether there is a need for research
and what type of research is required and to ascertain the feasibility and value of
conducting a formal research
Besides normal cost-benefits analysis the decision to conduct formal research is also
influenced by nature of problem, the type of info required and the amount of info
available
Marketing problems encountered by researcher can be represented on a continuum
with certainty and ambiguity at opposite ends
Each point on the continuum has an influence on the type and extent of preliminary
and or formal research that needs to be done
Three positions on the continuum:
1. Certainty
- All required info is available and accessible
- Problem clearly defined and answers are easily obtained
- Formal research not needed
2. Uncertainty
- Basic problem is understood but insufficient info available about alternatives
and solutions
- More effort is needed to gain greater clarity
3. Ambiguity
- Exact nature of problem is unclear and insufficient info available to solve
- Formal research is needed
Preliminary research
the following steps are performed
1. Define the nature and extent of problem or opportunity
2. Develop hypothesis (depending on nature of problem)
3. Formulate a comprehensive research problem
4. Set research objectives
5. Determine research design, and prepare research proposal
6. Collect secondary data
1
Created by: Sabrina Dias
, To perform these steps a situational analysis or internal and external marketing
environment analysis is carried
Creates a picture of internal and external situation surrounding problem
Situational analysis gathers info about:
a) Marketing objectives and strategies – the product, distribution, price and
marketing communication strategy
b) Organizational resources – more specifically its weakness and strengths
c) Organization’s market – specific info about the consumers, market structure and
competitors
d) Situation in the external environment, including economic conditions, socio-
cultural factors, technology developments and government action
Purpose of situational analysis – all secondary data is first researched
Purpose of preliminary marketing investigation is precisely to research these
secondary sources of info
Formal marketing research
If the problem is not solved a formal
investigation must be conducted
After completing the preliminary
investigation, its often advisable to
anticipate the probable findings and
recommendations of the formal investigation
Before starting, marketing management
must decide whether the formal
investigation is justified and whether they
have the means
Marketing management may also face strong
opposition to a particular plan of action and
decide that a formal marketing investigation
cannot be justified economically
A framework for the steps to be followed:
1. Select method of primary data collection
2. Design questionnaire
3. Conduct investigation
4. Process date
5. Analyze data
6. Interpret results and compile report
The marketing research process defined
Marketing management is not always able to make meaningful and accurate
decisions with the available data
Marketing research is used to collect and process data, which is when presented in a
useable and relevant way for the purpose of making decisions
Key characteristics of formal scientific marketing research is that it is a systematic
process of collecting, analyzing and interpreting info
American marketing association (AMA) defines marketing research process as: the
sequence of steps in the design and implementation of a research study, including
2
Created by: Sabrina Dias
Los beneficios de comprar resúmenes en Stuvia estan en línea:
Garantiza la calidad de los comentarios
Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!
Compra fácil y rápido
Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.
Enfócate en lo más importante
Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable. Así llegas a la conclusión rapidamente!
Preguntas frecuentes
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
100% de satisfacción garantizada: ¿Cómo funciona?
Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller 029sabrinadias. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for 2,69 €. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
45,681 summaries were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now