LO 10-1 Identify the five steps in the marketing research process.
LO 10-2 Describe the various secondary data sources.
LO 10-3 Describe the various primary data collection techniques.
LO 10-4 Summarize the differences between secondary data and primary data.
LO 10-5 Examine the circumstances in which collecting information on consumers is
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marketing researchtenCopyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.LEARNING OBJECTIVES LO 10-1 Identify the five steps in the marketing research process.LO 10-2 Describe the various secondary data sources.LO 10-3 Describe the various primary data collection techniques.LO 10-4 Summarize the differences between secondary data and primary data.LO 10-5 Examine the circumstances in which collecting information on consumers is Step 1: Defining Objectives and Research NeedsStep 2: Designing the ResearchStep 3: Data Collection ProcessSecondary dataPrimary dataConverting data into information to explain, predict and/or evaluate a particular situation.Step 4: Analyzing Data and Developing Insights©Getty ImagesStep 5: Action Plan and ImplementationDigital Vision/Getty ImagesWhat are the steps in the marketing research process?What is the difference between data and information?External Secondary DataSyndicated DataNameServices ProvidedACNielsen (www.acnielsen.com)With its Market Measurement Services, the company tracks the sales of consumer packaged goods, gathered at the point of sale in retail stores of all types and sizes.SymphonyIRI Group (www.symphonyiri.com)InfoScan store tracking provides detailed information about sales, share, distribution, pricing, and promotion across a wide variety of retail channels and accounts.J.D. Power and Associates (www.jdpower.com)Widely known for its automotive ratings, it produces quality and customer satisfaction research for a variety of industries.Mediamark Research Inc. (www.mediamark.com)Supplies multimedia audience research pertaining to media and marketing planning for advertised brands.National Purchase Diary Panel (www.npd.com)Based on detailed records consumers keep about their purchases (i.e., a diary), it provides information about product movement and consumer behavior in a variety of industries.NOP World (www.nopworld.com)The mKids US research study tracks mobile telephone ownership and usage, brand affinities, and entertainment habits of American youth between 12 and 19 years of age.Research and Markets (www.researchandmarkets.com)Promotes itself as a one-stop shop for market research and data from most leading publishers, consultants, and analysts.Roper Center for Public Opinion Research (www.ropercenter.uconn.edu)The General Social Survey is one of the nation’s longest running surveys of social, cultural, and political indicators.Simmons Market Research Bureau (www.smrb.com)Reports on the products American consumers buy, the brands they prefer, and their lifestyles, attitudes, and media preferences.Yankelovich (www.yankelovich.com)The MONITOR tracks consumer attitudes, values, and lifestyles shaping the American marketplace.External Secondary DataScanner ResearchCourtesy The Nielsen CoIRI WebsiteExternal Secondary DataPanel ResearchGroup of consumersSurvey or sales receiptsWhat are they buying or not buying?©BananaStock/PunchStockFlying Colours Ltd/Getty ImagesInternal Secondary DataWhat is the difference between internal and external secondary research?Qualitative versus QuantitativeData Collection TechniquesDatacollectionresearchQualitative researchQuantitative researchData CollectionIn-Store Tracking AnalyticsWhat are the types of qualitative research?Survey ResearchWeb SurveyingResponse rates are relatively highRespondents may lie lessIt is inexpensiveResults are processed and received quicklySimon Fell/Getty ImagesHow do firms successfully use web surveying?Using Web SurveyingThe McGraw-Hill Companies, Inc/John Flournoy, photographerExperimental ResearchAP Photo/Mary AltafferAdvantages and Disadvantages of Secondary and Primary DataTypeExamplesAdvantagesDisadvantagesSecondary ResearchPrimary ResearchCensus dataSales invoicesInternet informationBooksJournal articlesSyndicated dataSaves time in collecting data because they are readily availableFree or inexpensive (except for syndicated data)May not be precisely relevant to information needsInformation may not be timelySources may not be original, and therefore usefulness is an issueMethodologies for collecting data may not be appropriateData sources may be biasedObserved consumer behaviorFocus group interviewsSurveysExperimentsSpecific to the immediatedata needs and topic at handOffers behavioral insightsgenerally not available fromsecondary researchCostlyTime consumingRequires more sophisticatedtraining and experience to designstudy and collect dataWhat are the types of quantitative research?What are the advantages and disadvantages of primary and secondary research?The Ethics of Using Customer InformationUnder what circumstances is it ethical to use consumer information in marketing research?What challenges do technological advances pose for the ethics of marketing research?Data are raw numbers or other factual information that, on their own, have limited value to marketers.GlossaryExperimental research is a type of quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on another variable.GlossaryMarketing research consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.GlossaryPanel research is a type of quantitative research that involves collecting information from a group of consumers (the panel) over time.GlossaryScanner research is a type of quantitative research that uses data obtained from scanner readings of UPC codes at check-out counters.GlossaryA survey is a systematic means of collecting information from people that generally uses a questionnaire.GlossarySyndicated data are data available for a fee from commercial research firms such as Information Resources Inc. (IRI), National Purchase Diary Panel, and ACNielsen.Glossary