M370 Chapter 10 In-Class Activity

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Marketing

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Feb 20, 2024

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M370 Chapter 10 In-Class Activities 1. Defining Objectives and Research Needs What factors must be considered to decide whether to conduct research? Cost, Time, and Availability of Expertise 2. Designing the Research The researcher must decide on the research type and type of data to use. Exploratory – gather preliminary info that will clarify problems and suggest hypotheses to test on larger representative samples in the future Descriptive – describe marketing problems, situations, or market potential Experimental – test hypotheses about cause-and-effect relationships, why things happen 3. Collecting the Data Secondary Data: Collected prior to the start of the research project; External as well as internal data sources; Already exists Primary Data: Data that you have to collect; Collected to address specific research needs Examples: focus groups, in-depth interviews, surveys Sample: Choose a group of customers who represent the customers of interest and generalize their opinions to the market segment Quantitative Measures: Surveys Good for broad insights Qualitative Measures: Focus groups, in-depth interviews Good for helping clarify research problem Unstructured Good for in-depth analysis 1
4. Analyzing the Data and Developing Insights Survey Research in Action A gas station located near an exit along a major interstate recently conducted some customer satisfaction surveys to measure customers’ evaluations of the station on several features: 1. Speed with which customers can fill their gas tank 2. Cleanliness of the restrooms 3. The selection of foods and snacks inside the station’s store 4. Friendliness of the employees 5. The quality of the car wash All service features were measured of a 7-point scale; where 1 = very poor, and 7 = very good. Below are the results: Customer Evaluations of Gas Station Service Features (1 = very poor; 7 = very good) 5.1 5.2 5 2.2 1.9 0 1 2 3 4 5 6 Gas Filling Speed Restroom Cleanliness Snack Selection Friendly Employees Car Wash Quality What do you recommend? What managerial decisions would you make based on these results? - Keep cleaning the restrooms - Tell employees to be friendlier - Make sure pumps are newer and speed is good What else do you need to know? - Availability of a pump - Competitiveness of pricing - Proximity of competitors 2
Survey Research in Action Continued Customers were also asked to rate the importance of each service feature. On the screen are the complete results. Now what do you recommend? What managerial decisions would you make now? - Focus on the bathrooms How should results be presented? - With context Ethics in Research Reporting How ethical is the claim in the advertisement presented? - It isn’t fully ethical, but isn’t unethical 5. Developing and Implementing an Action Plan What is the difference between an Executive Summary and an Introduction? - An executive provides insights and recommendations (less than 1 page) - An introduction is a brief overview of what the report is about Secondary Data Marketing Research Industry – Secondary Data Providers A. Go to greenbook.org . Do a search for marketing research companies in Chicago from the “Firms” tab using “By Location” field. How many are there? Pick one and provide a brief description of their services. There are 85 in the Chicago area. Proactive worldwide: We examine competitors, suppliers, customers, regulatory issues, and more—through advanced competitive, market, and customer intelligence—to deliver a more complete picture of the decision-making environment with a far-reaching perspective that uncovers hidden opportunities and key threats. B. Then go to quirks.com . First provide a brief description of what you can find from one of the menus along the top, investigate it more deeply and describe briefly what you discover. WebMD: Medscape is the leading source of clinical news, health information and point- of-care tools for health care professionals in the U.S. and globally. Medscape offers health care professionals the most robust and integrated medical information and educational tools. On an annual basis our U.S. visitor count exceeds 730,000 active U.S. physicians and 1.9 million health care professionals. In EU4, our count of active physicians exceeds 500,000. Our sample includes physician specialists and primary care physicians, pharmacists, nurses, NPPA’s, hospital administrators, lab technicians and many other types of health care professionals. 3
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