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    Research Methodology

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    What is Business Research?

    A systematic Inquiry whose objective

    is to provide information to solvemanagerial problems.

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    Why Study Research?

    Research provides you with the

    knowledge and skills needed forthe fast-paced decision-making

    environment

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    Different Styles of Research

    Pure Research/Basic

    Research

    Applied Research

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    Basic Research Attempts to expand the limits of knowledge

    Not directly involved in the solution to a

    pragmatic problem

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    Basic Research Example The U.S Bureau of the Census is the

    worlds largest fact-gathering agency. All

    its data are foruse by others, including

    marketers.

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    Applied Research Conducted when a decision must be made

    about a specific real-life problem

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    Applied Research Example IBMs entry into personal computer lagged

    that of the innovators, like Apple, and may

    have been IBMs biggest challenge ever. A

    key question was what market segment was

    best strategically. After that would follow

    problem on the ideal product and idealdistribution for the target market.

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    What is Good Research? Following the standards of the scientific

    method

    Purpose clearly defined

    Researchprocess detailed

    Research design thoroughlyplanned

    Limitations frankly revealed

    High ethical standards applied

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    What is Good Research? (cont.)

    Following the standards of the scientific

    method (cont.)

    Adequate analysis fordecision-makers

    needs

    Findingspresented unambiguously

    Conclusionsjustified

    Researchers experience reflected

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    Determining When to Conduct

    Business Research Time constraints

    Availability of data

    Nature of the decision

    Benefits versus costs

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    YesIs sufficient time

    available before

    a managerial

    decision

    must be made?

    Is the infor-

    mation already

    on hand

    inadequatefor making

    the decision?

    Is the decision

    of considerable

    strategic

    or tactical

    importance?

    Does the value

    of the research

    information

    exceed the costof conducting

    research?

    Conducting

    Business

    Research

    Do Not Conduct Business Research

    Time Constraints

    Availability of Data

    Nature of the Decision

    Benefits vs.

    Costs

    YesYesYes

    No No No No

    Determining When to Conduct Business Research

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    Value versus Costs Potential Value of a Business Research

    Effort Should Exceed Its Estimated Costs

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    Value

    Increased likelihood

    of a correct decision

    Improved business

    performance and

    resulting higher

    profits

    Costs

    Research

    expenditures

    Delay of business

    decision andpossible disclosure

    of information to

    rivals

    Possible erroneous

    research results

    Value Should Exceed

    Estimated Costs

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    The Manager-Researcher

    Relationship Managers obligations

    Specify problems

    Provide adequate background information

    Access to company information gatekeepers

    Researchers obligations

    Develop a creative research design Provide answers to important business questions

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    When Research Should be

    Avoided When information cannot be applied to a

    critical managerial decision

    When managerial decision involves little

    risk

    When management has insufficient

    resources to conduct a study

    When the cost of the study outweighs the

    level of risk of the decision

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    The seven Major Steps in aResearch Project

    Step 1

    Determine or define the problem

    or opportunity that is faced

    Step 2

    Specify what information is

    needed.

    Step 3

    Identify the source of the

    information.

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    The seven Major Steps in aResearch Project

    Step 4

    Decide on the techniques for

    acquiring the information

    Step 5

    Gather and process the

    information

    Step 6

    Analyze and interpret the

    meaning

    Step 7

    Present the finding to the decision

    makers

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    ChiefMarketing

    Executive

    Advertising

    Manager

    Product

    Manager

    Marketing

    ResearchDept.

    Market

    Research

    Agency

    Advertising

    Agency

    Syndicated

    data service

    Government

    Agency

    SupportingService

    Users

    Users

    and

    Doers

    Users and Doers

    Network of Marketing Research Users (or Client) and Doers

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    The Evolving Structure

    Level 1Primary Information Users (Corporate

    Marketing Departments)

    The ultimate users of marketing research

    Marketing research data is needed to:

    1. Determine how targets will react to alternative marketing

    mixes.

    2. Evaluate success of operational marketing strategies.

    3. Assess changes in the external environment.

    4. Identify new target markets

    5. Measure the quality of customer service and level of

    satisfaction

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    The Evolving Structure

    Level 2Information Users (Ad Agencies)

    Serves corporate clients

    May be ultimate users of research data

    Main business: development and execution of ad

    campaigns

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    The Evolving Structure

    Level 3Research Suppliers

    Represent the front line of the research industry

    Research services

    Design research

    Analyze the results

    Make recommendations to their clients

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    The Evolving Structure

    Level 4Data Collectors (Field Service Firms)

    Field service firms collect data for

    Syndicated research firms

    Custom research firms

    Ad agencies

    Marketing departments

    Reasons for Marketing Research

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    To learn about the various types of firms

    and their functions in research.

    Corporate Marketing

    Research Departments

    The Marketing

    Research Industry

    The Internet Impact

    Users of Marketing

    Research

    Strategic Partnering

    and

    Global Research

    General Categories of Institutions Involved in Marketing Research

    Kraft General Foods

    InstitutionActivities, Functions, and Services

    Level 1. Corporate marketing departments

    Level 2. Ad agencies

    Level 3. Syndicated service firms

    Level 4. Field service firms

    Specialized firms

    Others

    J. Walter Thompson

    AC Neilson

    subcontract

    specialized support services

    government, universities

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    Set Objectives

    Discover problem and define

    Analyze problem environment

    Search and select alternatives

    Decide on action to take

    Implement

    Sequence of steps in solving a problem

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    Sequence of steps in solving a problem

    Set Objectives

    Discover problem and define

    Analyze problem environment

    Search and select alternatives

    Decide on action to take

    Implement

    Undertake

    preliminary

    research

    Undertake

    exploratory

    research

    Undertake

    conclusive

    research

    Undertake

    monitoring

    research

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    Researcher Client

    6. Reject the Proposal6. Schedule the work

    3. Prepare a proposal for its

    approval

    4. Evaluate costs, benefits,and priorities of proposed

    study.

    5. Decide: should the

    proposed study be

    approved?.

    1. Crystalize the ProjectsPlan

    2. Determine the costs and

    benefits.

    NoYes

    Steps in proposing and approving a project