Business Administration Department

 

BA341 Marketing Research                                                                                Fall 2007

Dr. Geoffrey P. Lantos

 

CLASSROOM LECTURE/DISCUSSION OUTLINE

 

OVERVIEW AND PERSPECTIVE

 

Introduction to BA 341: Course Structure and Requirements

 

I.          Syllabus and related handouts: Exam Template and Audiovisual Presentations

              Audio: 2003 Mercuries #3 Motel 6 “BusinessTalk”

II.         Marketing Research Term Paper Project

III.       Resources: Using the Business Library, Proofreader's Marks, Classroom Lecture/Discussion Outline, Transparency Handout Packet, 18 Ideas For Becoming A Master Student, Student Information Inventories

IV.              Assignments: Optional Marketing Research Statistical Data Analysis Problems, Business

              Week/Harris Poll Case

V.        Hand In: student information inventories

 

The Role of Marketing Research and Information Systems

(Related Reading: Chapters 1 and 2 and Appendix 2A)

 

I.                    What is Marketing Research (MR)?

·         MR and the Strategic Marketing Process

·         MR Defined - the function that links the consumer, customer, and public to the marketer through information used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance; and improve understanding of the marketing process.

- the systematic and objective process of generating information to aid in

    making marketing decisions.

·         Characteristics of MR –   (1) Scientific

                                                (2) Discontinuous/project basis

                                              vs. Marketing intelligence  

·         Purpose of MR –

·         Forms of information – What about intuition?

·         When can we skip MR?  Consider:

            1.      Time Constraints

            2.      Availability of data

            3.      Nature of Decision: high vs. low risk; strategic vs. tactical; expensive vs. inexpensive

4.       Cost vs. Value/Benefit of Info

II.         History of MR

III.       Users and Doers of MR/Careers in MR

IV.       Basic Research vs. Applied Research

·         Basic research (pure research, fundamental research)

·         Applied research (decisional research)

V.        The Scientific Method (SM) in MR

·            How do we derive knowledge?

·         SM Defined – A systematic process used to analyze empirical evidence in an objective and accurate manner so as to confirm or disconfirm prior conceptions (hypotheses) in an ongoing, open-minded fashion. 

·         Three areas where MR fall short of successfully using the SM:

(1)    Objectivity

(2)    Accuracy:

·         Two general traits of SM's results

             1. Validity –

                     2. Reliability –

       (3) Continuing and exhaustive nature of the investigation – replication tradition

VI.                   MR and the MKT'G concept

·         MKT'G concept defined -

·         Threefold conceptualization

·      Video: 1995 Clio Awards: Little Caesar's "More"

              MR and Total Quality Management (TQM)

·         Customer relationship management (CRM)/relationship marketing

VII.            Information (Info) and Decision Making

                Data vs. info vs. knowledge

            Decision Making    Planning        Info        Data Collection

·      Two general purposes of info:

                           1. Uncertainty reduction

                     2. Opportunity identification

·Characteristics of valuable information

·Information and the decision-making process: scope of MR activities

VIII      Value and Limitations of MR

.       

IX.          MKT'G Info Systems (MKIS)

·         MIS defined -

·         Components:

1. Internal records and reports system

                      2.     MKT'G intelligence system

                      3.     MR system

                      4.     Decision Support System (MDSS)

                             a.     Database system

                                    b.     Software

X.          Video Applications

·          Video: Hard Candy (10 min.)

·          Video: Toronto Blue Jays (9 min.)

 

An Overview of the MR Process

(Related Reading: Chapter 3)

 

I.                         Introduction: Decision Making and Marketing Research

·     MR Process

·         Management Decision-Making Process

·         Management Problem (Business Issue) vs. MR Problem

·         Forward and Backward Linkages in the MR Process

II.           Decision Theory

·         Decision making - the process used to resolve a problem or choose from among alternative

        opportunities.

·         Objective of decision making - find the alternative course(s) of action that maximizes

        managerial objectives in an uncertain environment.

·         Structuring the decision situation:

·   controllable (should we?) variables (decision variables, alternative courses of action) (A1, A2,... An)                                    Planning res.

·   uncontrollable (what if?) variables (environmental variables, situational variables, states of nature) (S1, S2,... Sn)                        Situation analysis res.

·   outcomes (what happens?) variables (payoffs, returns, results, responses, performance, objectives) (O1, O2,...,On)       Performance-

                                                                                    monitoring/evaluative res.

·         Payoff matrix:                S1           S2              S3

 


                               A1        O11         O12            O13 

                                             A2        O21         O22            O23 

              

·         Continuum of decision making (states of doubt):

·         ignorance/ambiguity       uncertainty         certainty

III.          Stages in the MR process

0.    Should research be done?

               1.    Problem definition and research (res.) objectives

               2.    Plan res. design (res. methodology)

· Classification of res. designs by function (vs. by technique/methodology—explore, describe, explain, predict, or evaluate/control:

a.       Exploratory res. (preliminary situation analysis, developmental res., nonconclusive res).