Kotler Keller Marketing Management 14e Conducting M arketing - - PDF document

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Kotler • Keller

Phillip Kevin Lane

Marketing Management • 14e

Conducting M arketing Research

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Discussion Questions

• 1. What constitutes good marketing

research?

• 2. What are the best metrics for

measuring marketing productivity?

• 3. How can marketers access their

return on investment of marketing expenditures?

M arketing Research S ystem

Insight M arket Research

How and why Customer and market

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The systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

M arketing Research

Over $28 billion was spent on marketing research in 2007.

Creative Research M eans

Rivals

M arketing partners Student projects Internet sources Check out rivals

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M arketing Research Process

Step 1: Define the Problem

Focused inquiry

• Specify decision

alternatives

• State research
• bjectives

Will passengers pay $25 for internet on a direct flight between Chicago and Tokyo?

• What is the top 10

Satellite channels viewed by Jordanians?

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Step 2: Develop the Research Plan

Sampling plan Contact method Data Sources

• Secondary data
• Primary data

Research Approaches

• Observation
• Focus groups
• Surveys
• Behavioral data
• Experiments

Research instrument

• Questionnaires
• Qualitative measures
• Technological devices

Step 3: Collect the Information

Online surveys Telephone surveys Interviews In-home surveys

Most expensive step Most prone to errors

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Step 4: Analyze the Information

Develop summary measures Compute averages Statistical analysis / decision models

Step 5: Present the Findings

Transform raw data into insight Present information in clear and compelling fashion

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Step 6: M ake the Decision

Research Decisions Research should guide decisions, not be used to support decisions already made.

Types of Research

Exploratory Descriptive Causal

shed light on the real nature of the problem and to suggest possible solutions or new ideas

it seeks to quantify demand, such as how many first-class passengers would purchase in- flight Internet service at $25 its purpose is to test a cause-and- effect relationship

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Questionnaire Do’s and Don’ts

• Ensure questions are free
• f bias
• M ake questions simple
• M ake questions specific
• Avoid jargon
• Avoid sophisticated words
• Avoid ambiguous words
• Avoid negatives
• Avoid hypotheticals
• Avoid words that could be

misheard

• Use response bands
• Use mutually exclusive

categories

• Allow for “other” in fixed

response questions

Pros and Cons of Online Research

Advantages

• Inexpensive
• Fast
• Accuracy of data
• Versatility

Disadvantages

• Small samples
• Skewed samples
• T

echnological problems

• Inconsistencies

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What is a M arketing Decision Support S ystem (M DSS)?

• A marketing decision support system is a

coordinated collection of data, systems, tools, and techniques with supporting hardware and software by which an

• rganization gathers and interprets

relevant information from business and environment and turns it into a basis for marketing action.

Barriers Limiting the Use of M arketing Research

• A narrow conception of the research
• Uneven caliber of researchers
• Poor framing of the problem
• Late and occasionally erroneous findings
• Personality and presentational differences

My experience

• Satellite channels viewers in Jordan
• Political participation in political life

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M arket Research Can Fail

a science fiction film 1970 whether to back the film The film would fail Rewards $4.3 Billions The reason is concentration on information not insight

Characteristics of Good M arketing Research

• 1. Scientific method
• 2. Research creativity
• 3. M ultiple methods
• 4. Interdependence of models and data
• 5. Value and cost of information
• 6. Healthy skepticism
• 7. Ethical marketing

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(1) Marketing metrics to assess marketing effects and (2) Marketing-mix modeling to estimate causal relationships and measure how marketing activity affects outcomes.

Measuring Marketing productivity

What are M arketing M etrics?

M arketing metricsare the set of measures that helps marketers quantify, compare, and interpret marketing performance.

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M arketing M etrics

External

• Awareness
• M arket share
• Relative price
• Number of complaints
• Customer satisfaction
• Distribution
• Total number of

customers

• Loyalty

Internal

• Awareness of goals
• Commitment to goals
• Active support
• Resource adequacy
• Staffing levels
• Desire to learn
• Willingness to change
• Freedom to fail
• Autonomy

What is M arketing-M ix M odeling?

M arketing-mix modelsanalyze data from a variety of sources, such as retailer scanner data, company shipment data, pricing, media, and promotion spending data, to understand more precisely the effects of specific marketing activities.

M arketers can conduct multivariate analyses, such as regression analysis, to sort through how each marketing element influences marketing

• utcomes such as brand sales or market share.

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M arketing M easurement Pathway

M arketing Dashboard

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Sample Customer-Performance Scorecard M easures

• % of new customers to average #
• % of lost customers to average #
• % of win-back customers to average #
• % of customers in various levels of satisfaction
• % of customers who would repurchase
• % of target market members with brand recall
• % of customers who say brand is most preferred

M arket Survey Questionnaire

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Question Types - Dichotomous

In arranging this trip, did you contact American Airlines?  Yes  No

Question Types – M ultiple Choice

With whom are you traveling on this trip?

 No one  Spouse  Spouse and children  Children only  Business associates/ friends/ relatives  An organized tour group

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Question Types – Likert Scale

Indicate your level of agreement with the following statement: Small airlines generally give better service than large ones.  Strongly disagree  Disagree  Neither agree nor disagree  Agree  Strongly agree

Question Types – Semantic Differential

American Airlines Large … … … … … … … … … … … … ...… … .Small Experienced… … … … … … … .… .Inexperienced M odern… … … … … … … … … .… ..Old-fashioned

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Question Types – Importance Scale

Airline food service is _____ to me.

 Extremely important  Very important  Somewhat important  Not very important  Not at all important

Question Types – Rating Scale

American Airlines’ food service is _____.

 Excellent  Very good  Good  Fair  Poor

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Question Types – Intention to Buy Scale

How likely are you to purchase tickets on American Airlines if in-flight Internet access were available?

 Definitely buy  Probably buy  Not sure  Probably not buy  Definitely not buy

Question Types – Completely Unstructured

What is your opinion of American Airlines?

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Question Types – Word Association

What is the first word that comes to your mind when you hear the following? Airline ________________________ American _____________________ Travel ________________________

Question Types – Sentence Completion

When I choose an airline, the most important consideration in my decision is: __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ ______________________________.

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Question Types – Story Completion

“I flew American a few days ago. I noticed that the exterior and interior of the plane had very bright colors. This aroused in me the following thoughts and feelings.” Now complete the story. ________________________________________ ________________________________________ ________________________________________ ________________________________________ _______________

Research Sampling Plan

• Sampling unit: Who is to be surveyed?
• Sample size: How many people should be

surveyed?

• Sampling procedure: How should the

respondents be chosen?

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For Review

• What constitutes good marketing research?
• What are the best metrics for measuring

marketing productivity?

• How can marketers assess their return on

investment of marketing expenditures?