Chapter 33 Conducting Marketing Research

Chapter 33 – Conducting Marketing Research

Objectives 33.1 5 Five major steps are involved in conducting marketing research and they are: define the problem, obtain data, analyze the data, recommend solutions to the problem and apply the results. Both primary and secondary data (see terms 33.1) are collected to gain information about the problem.

Terms 33.1  Problem definition – occurs when a business clearly identifies a problem and states the information needed to solve the problem.  Primary data – is data obtained for the first time and used specifically for the particular problem under study.  Secondary data – has already been collected for some purpose other than the current study.  Survey method – is a research technique in which information is gathered from people directly through the use of interviews or questionnaires.  Sample – is a part of the target population that is assumed to represent the entire population.  Online computer services – is a way to obtain information through the internet.  Observation method – is a research technique in which the actions of people are observed and recorded.  Point of sale research – is a powerful new form of research that combines natural observation with personal interviews to get people to explain buying behavior.  Experimental method – is a research technique in which a researcher observes under controlled conditions the results of changing one or more marketing variables while keeping certain other variables constant.  Data analysis – is the compiling, analyzing and interpreting of the results of primary and secondary data collection.

Objectives 33.2 Research instruments need to be both valid (measure what is intended to be measured) and reliable (question should ask the same type of information from all the respondents). The use of computers allows for massive amounts of data collection and analysis of that data.

Terms 33.2  Forced choice questions – asks respondents to choose answers from possibilities given on a questionnaire.