rm 1st session
TRANSCRIPT
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Research Methodology
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What is Business Research?
A systematic Inquiry whose objective
is to provide information to solvemanagerial problems.
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Why Study Research?
Research provides you with the
knowledge and skills needed forthe fast-paced decision-making
environment
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Different Styles of Research
Pure Research/Basic
Research
Applied Research
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Basic Research Attempts to expand the limits of knowledge
Not directly involved in the solution to a
pragmatic problem
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Basic Research Example The U.S Bureau of the Census is the
worlds largest fact-gathering agency. All
its data are foruse by others, including
marketers.
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Applied Research Conducted when a decision must be made
about a specific real-life problem
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Applied Research Example IBMs entry into personal computer lagged
that of the innovators, like Apple, and may
have been IBMs biggest challenge ever. A
key question was what market segment was
best strategically. After that would follow
problem on the ideal product and idealdistribution for the target market.
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What is Good Research? Following the standards of the scientific
method
Purpose clearly defined
Researchprocess detailed
Research design thoroughlyplanned
Limitations frankly revealed
High ethical standards applied
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What is Good Research? (cont.)
Following the standards of the scientific
method (cont.)
Adequate analysis fordecision-makers
needs
Findingspresented unambiguously
Conclusionsjustified
Researchers experience reflected
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Determining When to Conduct
Business Research Time constraints
Availability of data
Nature of the decision
Benefits versus costs
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YesIs sufficient time
available before
a managerial
decision
must be made?
Is the infor-
mation already
on hand
inadequatefor making
the decision?
Is the decision
of considerable
strategic
or tactical
importance?
Does the value
of the research
information
exceed the costof conducting
research?
Conducting
Business
Research
Do Not Conduct Business Research
Time Constraints
Availability of Data
Nature of the Decision
Benefits vs.
Costs
YesYesYes
No No No No
Determining When to Conduct Business Research
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Value versus Costs Potential Value of a Business Research
Effort Should Exceed Its Estimated Costs
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Value
Increased likelihood
of a correct decision
Improved business
performance and
resulting higher
profits
Costs
Research
expenditures
Delay of business
decision andpossible disclosure
of information to
rivals
Possible erroneous
research results
Value Should Exceed
Estimated Costs
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The Manager-Researcher
Relationship Managers obligations
Specify problems
Provide adequate background information
Access to company information gatekeepers
Researchers obligations
Develop a creative research design Provide answers to important business questions
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When Research Should be
Avoided When information cannot be applied to a
critical managerial decision
When managerial decision involves little
risk
When management has insufficient
resources to conduct a study
When the cost of the study outweighs the
level of risk of the decision
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The seven Major Steps in aResearch Project
Step 1
Determine or define the problem
or opportunity that is faced
Step 2
Specify what information is
needed.
Step 3
Identify the source of the
information.
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The seven Major Steps in aResearch Project
Step 4
Decide on the techniques for
acquiring the information
Step 5
Gather and process the
information
Step 6
Analyze and interpret the
meaning
Step 7
Present the finding to the decision
makers
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ChiefMarketing
Executive
Advertising
Manager
Product
Manager
Marketing
ResearchDept.
Market
Research
Agency
Advertising
Agency
Syndicated
data service
Government
Agency
SupportingService
Users
Users
and
Doers
Users and Doers
Network of Marketing Research Users (or Client) and Doers
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The Evolving Structure
Level 1Primary Information Users (Corporate
Marketing Departments)
The ultimate users of marketing research
Marketing research data is needed to:
1. Determine how targets will react to alternative marketing
mixes.
2. Evaluate success of operational marketing strategies.
3. Assess changes in the external environment.
4. Identify new target markets
5. Measure the quality of customer service and level of
satisfaction
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The Evolving Structure
Level 2Information Users (Ad Agencies)
Serves corporate clients
May be ultimate users of research data
Main business: development and execution of ad
campaigns
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The Evolving Structure
Level 3Research Suppliers
Represent the front line of the research industry
Research services
Design research
Analyze the results
Make recommendations to their clients
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The Evolving Structure
Level 4Data Collectors (Field Service Firms)
Field service firms collect data for
Syndicated research firms
Custom research firms
Ad agencies
Marketing departments
Reasons for Marketing Research
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To learn about the various types of firms
and their functions in research.
Corporate Marketing
Research Departments
The Marketing
Research Industry
The Internet Impact
Users of Marketing
Research
Strategic Partnering
and
Global Research
General Categories of Institutions Involved in Marketing Research
Kraft General Foods
InstitutionActivities, Functions, and Services
Level 1. Corporate marketing departments
Level 2. Ad agencies
Level 3. Syndicated service firms
Level 4. Field service firms
Specialized firms
Others
J. Walter Thompson
AC Neilson
subcontract
specialized support services
government, universities
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Set Objectives
Discover problem and define
Analyze problem environment
Search and select alternatives
Decide on action to take
Implement
Sequence of steps in solving a problem
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Sequence of steps in solving a problem
Set Objectives
Discover problem and define
Analyze problem environment
Search and select alternatives
Decide on action to take
Implement
Undertake
preliminary
research
Undertake
exploratory
research
Undertake
conclusive
research
Undertake
monitoring
research
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Researcher Client
6. Reject the Proposal6. Schedule the work
3. Prepare a proposal for its
approval
4. Evaluate costs, benefits,and priorities of proposed
study.
5. Decide: should the
proposed study be
approved?.
1. Crystalize the ProjectsPlan
2. Determine the costs and
benefits.
NoYes
Steps in proposing and approving a project