MKT Ch 9

The Shinn Company wants to manufacture a new mouthwash designed to fight cavities and whiten teeth. The Shinn Company looks at the previously collected data over the last three years on consumer preferences in mouthwash and looks to social media to see what customers are saying about its products. This is an example of
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The Shinn Company wants to manufacture a new mouthwash designed to fight cavities and whiten teeth. The Shinn Company looks at the previously collected data over the last three years on consumer preferences in mouthwash and looks to social media to see what customers are saying about its products. This is an example of
secondary data
ADT home alarm systems allow homeowners to turn on and off their burglar alarm systems from an app on their cell phones. When John left home for the weekend and forgot to turn on his alarm system, he was able to activate it while driving to the airport using his cell phone. Connecting his alarm system wirelessly to a network to improve its functionality is an example of John's use of
the Internet of Things (IoT)
Xin's Candy Company uses the tools of customer relationship management. Xin has learned that mothers want to give their children candy that is healthy. Xin has used this customer information to develop a product line of vitamin-enriched candy. Which of the following is the step that Xin's Candy Company must now follow in the CRM cycle?
Leverage customer information
Which of the following is NOT an advantage of mobile research surveys?
1) Increased response rates
2) Immediate feedback
3) Narrow geographic reach
4) Cost savings
3
The marketing research problem
refers to determining what information is needed and how that information can be obtained efficiently and effectively.
Cascade Insights has been removing uncertainty in the tech sector for over a decade. With custom B2B market research, Cascade Insights helps technology companies up their competitiveness and identify new market opportunities. Clients include FinTech, MarTech, HealthTech, and EdTech. Cascade works only in the B2B tech sector, and does not do B2C. As CI consultants, which benefit does Cascade provide its clients?
More effectively marketing their products and services
Teavana has a shop in the airport and offers samples of the newest flavors of tea. Travelers who are waiting for their flights can taste the new tea at Teavana and answer a short survey on a tablet handed to them by a Teavana employee about the latest flavor. This is an example of which type of primary data?
Computer-assisted self-interviewing
Javier is the captain of the Permian High School volleyball team. During practices and games, Javier sits on the sidelines and watches his team members play. He can watch their strengths and weaknesses in volleyball. Javier is conducting
observation research
The Nature Company manufactures cereal using only organic ingredients. To find out what the public wants in a cereal, the Nature Company uses mobile surveys because it can share photos, videos, and voice recordings with new and potential customers via smartphones. The advantage of mobile research shown in this example is
richer content
The marketing research objective
the specific information needed to solve a marketing research problem that will provide insightful decision-making information?
marketing researchplanning, collecting and analyzing data relevant to a marketing decisionWhy do marketing research?describe, diagnose, predictdescribefactual statementdescribe exwhich segmentations are the easiest for markets to cater todiagnoseexplain dataex of diagnosewhy did sales drop last monthpredictwhat if?ex of predictwhat if we were to change the packet? will it impact sales???when should you do marketing research- high level of uncertainty - research benefits and research costwhat is the marketing research process1. ID problem/ opportunity 2. Plan design/ primary/ secondary data 3. specify sampling procedure 4. collect data 5. analyze data 6. prepare/ present report 7. follow upprimary dataanswers RQ directly data collected for solving the problem under investigationsecondary datauseful for situation analysis, determining direction data previously collected for another reasonexamples of secondary dataInternal Corporate Information Government Agencies Trade and Industry Associations Business Periodicals News MediaPros of Primary DataAnswers a specific research question Data are current The Source of data is known Secrecy can be maintained You own it!Cons of primary dataexpensivepros of secondary data-Saves time and money -Aids in determining the direction for primary data collection -Pinpoints the kinds of people to approach -Serves as a basis of comparison for other datacons of secondary dataMay not be on target with the research problem Outdatedexperimentalter one or more variables while observing the effects of those alterations. aim for causalitysurvery researchthe most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudesExamples of survey researchin-home interviews mail/online surveys mall intercept interviews executive interviews telephone interviews focus groupsfocus group7-10 people who participate in a group discussion led by a moderatorQuestionare designclear and concise no ambiguous lang avoid leading questions avoid 2 questions at onceprobability samplesRepresentative of the universe (e.g. random)non-probability samplingmay not be representative of the universe (convenience, snowball)what is the basis of marketing research?non-probability sampling and probability samplingResearch questionwhat does the data tell us?what is in the reportsummary of findings recommendations