Globe: Scientific Method and John Wiley Essay

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11/03/2013

Market Research
Presentation prepared by Lucy Miller Macquarie University

© 2009 John Wiley and Sons Australia

Chapter 3: Market research
Learning Objectives: •discuss the importance of market research as a basis for marketing decision making •define a research problem and prepare a brief •outline the issues in research design, the role of primary and secondary data, and the uses of quantitative and qualitative research •understand the key principles of data collection and analysis, and the subsequent reporting of market research findings to inform marketing decisions.
© 2009 John Wiley and Sons Australia

Market research
Market research • A business activity that discovers information of use in making marketing decisions. • Market research is an essential component of understanding the market. • Market research is only of value if the information it provides can contribute to improved performance.

© 2009 John Wiley and Sons Australia

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11/03/2013

Market research

© 2009 John Wiley and Sons Australia

Market research
Market research informs many different types of decisions, including decisions about: • Market segmentation • Sales performance • Product • Distribution • Promotion • Pricing • Attitudes and behaviours
© 2009 John Wiley and Sons Australia

Market research at Virgin Australia

Dial‐up

Broadband

© 2009 John Wiley and Sons Australia

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The components of a marketing information system

© 2009 John Wiley and Sons Australia

Market research
Market research involves five major components: • defining the research problem • designing the research methodology • collecting data • analysing data and drawing conclusions • presenting the results and making recommendations.

© 2009 John Wiley and Sons Australia

Market research
Before undertaking a market research project, the following factors should be considered: • Relevance • Timing • Availability of resources • Need for new information • Cost‐benefit analysis

© 2009 John Wiley and Sons Australia

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The research problem
Research problem • The question that the market research project is intended to answer. • A clearly specified research problem will ensure that the research will actually answer the question asked of it. • A poorly defined research problem will lead to research that does not generate the information required to enable the marketing organisation to make marketing decisions. • As the research proceeds the original questions asked may be redefined.
© 2009 John Wiley and Sons Australia

The research problem
Market research brief • A set of instructions and requirements that generally states the research problem, the information required, and specifies the timeframe, budget and other conditions of the project. • The market research brief will not necessarily propose a methodology or approach for the market research. • The more specific the problem, the more specific the answer will be.
© 2009 John Wiley and Sons Australia

The research problem
A typical market research brief will include: • Executive summary: overview • Introduction: explains why the research needs to be conducted and who is proposing the research. • Background: details the marketing problem, providing all known facts and related projects • Problem definition: the question that is to be addressed including set objectives

© 2009 John Wiley and Sons Australia

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The research problem
A typical market research brief will include the following: • Time and budget: the amount of money the marketer is able to spend; when the results are needed; various milestones and contingencies • Reporting schedule: includes precise dates on which reports are required and details about report format • Appendices: additional detailed background information
© 2009 John Wiley and Sons Australia

Research design
Research design • The…