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Lecture 3

The document outlines the steps in properly formulating a marketing research problem which are: 1) Recognizing the problem/opportunity, 2) Understanding why information is being sought, 3) Understanding the decision environment, 4) Using symptoms to clarify the problem, 5) Translating the management problem into a research problem, 6) Determining if needed information exists, and 7) Stating clear research objectives. It then provides examples of how to describe apparent problems, identify potential opportunities, and select between specific alternatives.

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Fahad Javaid
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52 views15 pages

Lecture 3

The document outlines the steps in properly formulating a marketing research problem which are: 1) Recognizing the problem/opportunity, 2) Understanding why information is being sought, 3) Understanding the decision environment, 4) Using symptoms to clarify the problem, 5) Translating the management problem into a research problem, 6) Determining if needed information exists, and 7) Stating clear research objectives. It then provides examples of how to describe apparent problems, identify potential opportunities, and select between specific alternatives.

Uploaded by

Fahad Javaid
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Marketing Research

Lecture 3

Marketing Research Lecture 3

Marketing Research Lecture 3

Steps in Problem Formulation


1. 2. 3. 4. 5. Recognize the problem/opportunity Why is information being sought Understand the decision environment Use symptoms to help clarify problem Translate mgmt problem into marketing research problem 6. Determine if info exists/whether questions can really be answered Research 4 7. State researchMarketing objectives Lecture 3

Recognize problem/opportunity
Find and evaluate new opportunities and recognize problem

Which problems or opportunities are anticipated? What is the scope of the problems & the possible reasons?

Marketing Research Lecture 3

Why Information is being sought


Determine what information will be used for. What decisions will be undertaken;
1. What are the alternatives being studied 2. What are the criteria for choosing among the alternative?

Large amounts of money, time and effort are wasted because marketing requests are poorly formulated or misunderstood
Marketing Research Lecture 3 6

Understand the decision environment


Conduct a situation analysis Use exploratory research: 1.to increase understanding of a concept 2.to clarify nature of the problem 3.To identify important variables to be studied
Marketing Research Lecture 3 7

Use symptoms to clarify problem


Distinguish between symptoms and the real problem
Use the concept of Iceberg principle to discover the real problems

Marketing Research Lecture 3

Translate management decision problem into a marketing research problem


Determine what information is needed to solve the problem Determine how that information can be obtained Determine marketing research objectives;

Marketing Research Lecture 3

Determine if information exists/whether qs can be answered


You already have the information you need. Time isnt on your side. You lack the necessary resources to pull it off. The cost of the information outweighs the benefits. Do not promise more than what you can deliver hurts suppliers credibility
Marketing Research Lecture 3 10

Research Objective
Goal statements defining the specific information needed to solve the marketing research problem. Well formulated research objectives serve as a road map in pursuing the research project Research Question Development of Hypotheses Scope or Boundaries of Research
Marketing Research Lecture 3 11

Marketing Research Lecture 3

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Describing an Apparent Problem


Management Problem: A decline in sales. Objectives of Research: A number of factors responsible for a decline in sales.. decline in demand, increased competition, loss of distribution, high prices, problem with product quality, ineffective promotions etc Needed Information: A well specified list of information is difficult to make. Gather whatever information is necessary. Data collection Project: A series of unstructured investigations needed.
Marketing Research Lecture 3 13

Identifying A Potential Opportunity


Management Problem: Identify new product ideas or develop more effective advertisements. Research Objectives: Cant be specific identify new ideas of product usage, product features, packaging and communicating about the product. Needed Information: Specified in general terms only. Consumers attitudes, behavior, likes dislikes Data Collection Project: Unstructured research exploratory in design.
Marketing Research Lecture 3 14

Selecting Between Specific Alternatives


Management Problem: Select between two or more alternatives under consideration Research Objectives: Identify the best alternatives Needed Information: Depends what is being measured. E.g. (i) for testing two or more advertisements, collect information on brand awareness & attitudes Data Collection Project: Experimentation/ casual design used. Marketing Research 15
Lecture 3

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