Managing Marketing Information to Gain Customer Insights - Marketing Research

11 important questions on Managing Marketing Information to Gain Customer Insights - Marketing Research

What is marketing research and of which 5 steps does it exist?

Marketing research is the systematic design, collection, analysis and reporting of data relevant for a marketing topic facing the organization. This is based on information which is not there yet.

It is a non-lineair process, which consists of the following steps

Define problem and objectives --> Research plan --> data collection --> data analysis --> presenting findings.

In-between presenting findings and define problems and objectives is feedback; internal as well as external.

After defining the problem, research objectives can be made up. We distinguish exploratory, descriptive and causal research. What's the difference?

Exploratory --> marketing research gather information that will help to define problems and suggest hypothesis.

Descriptive --> marketing research gather information that will help you to describe the problems, situations etc.

Causal --> marketing research to test the hypothesis about cause-and-effect relationships.

Within the research plan you decide what type of data you'll use. What's the difference between primary and secondary data?

Primary data is gathered by your research, by you.

Secondary data is gathered for other purposes which you will use in your research as well. This data is already available.
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What is decriptive research?

Helps to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitude of consumers.

When talking about primary data we can distinguish probability and random sampling. What's the difference?

Probability sampling --> a sampling method with which the units have a known chance of being selected for the sample. In stratified sampling, the population is divided according to common characteristics.

Random sampling --> a sampling method with which all units in a population have equal chance of appearing in the sample.

Information for the research plan can be taken from several sources, which 4?

1. Secondary data
2. Primary data
3. Research approaches
4. Contact methods

What's the difference between marketing intelligence and marketing research?

Marketing intellegence is about information that's already available, and marketing research is about information that's not available yet.

What are commercial online databases?

Collection of information available from online commercial sources or accessible via internet.

What is observational approach?

Gathers data by observing people, situations and actions.

What is the ethnographic approach?

Where trained observers are sent to watch and interact with consumers in their natural environment.

Name 6 types of contact methods?

1. Mail questionaires
2. Telephone interviewing
3. Personal interviewing
4. Group interviewing
5. Online marketing research
6. Online focus groups

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