All slides
HC 1 | Wed 3 sept
The marketing system
The task of marketing management The environment affecting marketing
Why do Firms do Research in Marketing?
Marketers use the “right” principle ‘to do’ Marketing
Get the right products to the right people at the right place at the right time at the right price
using the right promotion techniques
To be “right” in marketing: need for decision making information that reduces uncertainty to aid in
smarter managerial decision making
Marketing research
Planning, collection, and analysis of data relevant to marketing decision making and the
communication of the results of this analysis to management.
All slides 1
, → It can be micro-level (individual) or macro-level (market) in nature
The value of marketing research:
Decreased uncertainty
Increased likelihood of a correct decision
Improved marketing performance and resulting higher profits
Fundamental distinction
Marketing Decision Problem Marketing Research Problem
Asks what the decision-maker needs to Asks what information is needed and
do. how it can best be obtained.
Action oriented. Information oriented.
Focuses on the symptoms. Focuses on the underlying causes.
Popularity of analytics in marketing
Spending on marketing analytics hits decade long all-time high
Company use of marketing analytics in decision making rises to all-time high
Increase usage of Ai
Analytics = Most Desirable Skill (And Largest Talent Gap)
All slides 2
, Classifying Marketing Research
By type of data
Quantitative research
Nominal, ordinal, interval, ratio level of measurement
Qualitative research
By research design
Exploratory research
Descriptive and predictive research
Causal research
By data source
Secondary data
Syndicated research
Primary data
Qualitative
Not concerned with numbers. Good for:
Mapping the customer’s overall range of behavior and attitudes
Pinpointing the motivations behind people’s behavior
Stimulating new and creative ideas
Providing a forum for fresh creative thinking
Quantitative
Focus on numbers, amendable to statistical analysis. Good for:
All slides 3
, Profiling detailed usage and behavior
Highlighting variations between different sub-groups
Precisely measuring consumer preferences for different products and services
Measuring the exact priorities consumers attach to different product features
Hybrid skills: the boundaries between qual and quant are blurring, but you still need both
Higher order thinking: connecting the dots between intuition and evidence-based rigor
Exploratory Research
Research in which the major emphasis is on gaining ideas and insights
Purposes:
Increase familiarity with problem
Clarify concepts
Develop specific hypotheses
Approaches:
Literature review
Interviews
Case studies
Focus groups
Text analysis
Descriptive and Predictive Research
Often guided by an initial hypothesis
Purposes:
Describe the characteristics of certain groups
Estimate the proportion of people in a specified population who behave in a certain way
Examine associations between two or more variables
Make specific predictions
Descriptive research reveals associations between variables: X <-> Y
Example: Do larger stores generate higher sales?
If so, why? What is the underlying causal reason? Better overview and more
relaxing environment to shop in? More products to sell? Or merely because
the chain has larger stores in larger cities and more consumers passing by?
We could add additional variables in the model: urban/rural environment, #SKU
All slides 4
HC 1 | Wed 3 sept
The marketing system
The task of marketing management The environment affecting marketing
Why do Firms do Research in Marketing?
Marketers use the “right” principle ‘to do’ Marketing
Get the right products to the right people at the right place at the right time at the right price
using the right promotion techniques
To be “right” in marketing: need for decision making information that reduces uncertainty to aid in
smarter managerial decision making
Marketing research
Planning, collection, and analysis of data relevant to marketing decision making and the
communication of the results of this analysis to management.
All slides 1
, → It can be micro-level (individual) or macro-level (market) in nature
The value of marketing research:
Decreased uncertainty
Increased likelihood of a correct decision
Improved marketing performance and resulting higher profits
Fundamental distinction
Marketing Decision Problem Marketing Research Problem
Asks what the decision-maker needs to Asks what information is needed and
do. how it can best be obtained.
Action oriented. Information oriented.
Focuses on the symptoms. Focuses on the underlying causes.
Popularity of analytics in marketing
Spending on marketing analytics hits decade long all-time high
Company use of marketing analytics in decision making rises to all-time high
Increase usage of Ai
Analytics = Most Desirable Skill (And Largest Talent Gap)
All slides 2
, Classifying Marketing Research
By type of data
Quantitative research
Nominal, ordinal, interval, ratio level of measurement
Qualitative research
By research design
Exploratory research
Descriptive and predictive research
Causal research
By data source
Secondary data
Syndicated research
Primary data
Qualitative
Not concerned with numbers. Good for:
Mapping the customer’s overall range of behavior and attitudes
Pinpointing the motivations behind people’s behavior
Stimulating new and creative ideas
Providing a forum for fresh creative thinking
Quantitative
Focus on numbers, amendable to statistical analysis. Good for:
All slides 3
, Profiling detailed usage and behavior
Highlighting variations between different sub-groups
Precisely measuring consumer preferences for different products and services
Measuring the exact priorities consumers attach to different product features
Hybrid skills: the boundaries between qual and quant are blurring, but you still need both
Higher order thinking: connecting the dots between intuition and evidence-based rigor
Exploratory Research
Research in which the major emphasis is on gaining ideas and insights
Purposes:
Increase familiarity with problem
Clarify concepts
Develop specific hypotheses
Approaches:
Literature review
Interviews
Case studies
Focus groups
Text analysis
Descriptive and Predictive Research
Often guided by an initial hypothesis
Purposes:
Describe the characteristics of certain groups
Estimate the proportion of people in a specified population who behave in a certain way
Examine associations between two or more variables
Make specific predictions
Descriptive research reveals associations between variables: X <-> Y
Example: Do larger stores generate higher sales?
If so, why? What is the underlying causal reason? Better overview and more
relaxing environment to shop in? More products to sell? Or merely because
the chain has larger stores in larger cities and more consumers passing by?
We could add additional variables in the model: urban/rural environment, #SKU
All slides 4
