Week 2

• What are the eight steps in the marketing research process?

  Problem identification, research design, method selection, sampling, data collection, analysis, report preparation, follow-up
• What mnemonic helps remember the marketing research process steps?

  PRoMS CAn Really Flow
• What is the purpose of gap analysis in problem identification?

  To identify the gap between expectations and actual performance
• Why might not all gaps identified be real problems?

  Some may stem from unrealistic targets or assumptions
• What are the three questions in the problem definition frameworks?

  1. Where: Is the gap in sales, profits, regions?
  2. When: Did it start suddenly? Growing or shrinking?
  3. What: Is it local, regional, or product-specific?
• How can different perspectives on an issue affect problem-solving?

  They can lead to varied solutions for the same issue
• What was the initial misunderstanding of Febreze regarding its sales?

  They didn't understand why people weren’t buying
• What is the key insight from Febreze's experience?

  Diagnose the problem before attempting to solve it
• What are the two key problems in marketing research?

  1. Marketing Decision Problem: Action-oriented, e.g., "What do we do?"
  2. Marketing Research Problem: Information-oriented, e.g., "What do we need to know?"
• What distinguishes a marketing decision problem from a marketing research problem?

  Decision problems focus on action, research problems on information
• What assumption did Coca-Cola make with New Coke?

  That sweetness was the main driver of preference
• What lesson can be learned from Coca-Cola’s New Coke experience?

  Check assumptions before taking action
• How does a well-defined research problem benefit decision-making?

  • Ensures relevant findings
  • Aligns with decision goals
  • Provides actionable insights
• What does the research design serve as in the marketing research process?

  A blueprint for how objectives will be achieved
• What are the two types of research design?

  1. Exploratory: For qualitative insights
  2. Conclusive: For quantitative data or hypothesis testing
• What is the trade-off in research design?

  Balancing cost, time, and data quality
• What are the two main types of research methods?

  1. Secondary Data: Existing records
  2. Primary Research: New data collection
• What is the purpose of causal studies in research methods?

  To establish cause-and-effect relationships
• What are the three criteria for proving causality?

  1. Temporal Sequence: Cause precedes effect
  2. Concomitant Variation: Cause and effect change together
  3. Control of Extraneous Variables: Eliminate external influences
• How should a clothing brand test ads for sales impact?

  Ensure increased sales result from ads
• What is the first step in sampling?

  Define the population
• What are the two types of sampling methods?

  1. Probability Sampling: Generalizable, estimates error
  2. Non-Probability Sampling: Easier but less representative
• What is the common method for data collection in surveys?

  Online surveys
• What role do field service firms play in marketing research?

  Conduct interviews and support research services
• What are the key components of the marketing research process?

  1. Survey Methods
  2. Role of Field Service Firms
  3. Steps in the Research Process
  4. Judging Report Quality
  5. Follow-Up and Implementation
• What is the focus of the analysis step in the research process?

  Transforming raw data into actionable insights
• What should be included in the reporting step of the research process?

  Written and oral reports tailored to managerial needs
• What criteria judge the quality of a research report?

  • Alignment with objectives
  • Robust methodology
  • Logical conclusions and actionable recommendations
• What is the importance of follow-up in the marketing research process?

  Ensures findings are acted upon
• What are the components of research requests and proposals?

  • Action
  • Origin
  • Information
  • Use
  • Target groups
  • Logistics
  • Comments
• What is the backward market research process?

  • Prioritize actionable outcomes
  • Define how results will be used
  • Design the final report collaboratively
  • Specify analyses needed for insights
  • Align data collection with expectations
• What are the stages for enhancing the effectiveness of actionable research?

  1. Set clear objectives and build commitment
  2. Design research with implementation in mind
  3. Present data concisely and clearly
  4. Align strategies with incentives
  5. Provide support for implementation
  6. Monitor the impact of actions
  7. Ensure effective communication
• What is confirmation bias in research?

  It affects acceptance of findings
• How can research be made more actionable?

  • Use benchmarks for context
  • Combine qualitative and quantitative methods
  • Focus on financial or market implications
• What are the tasks involved in implementing the plan?

  1. Assign responsibility and resources
  2. Involve stakeholders in planning
  3. Time research to align with planning cycles
• What is the outcome of assigning responsibility and resources in implementation?

  Creates a roadmap aligning with business goals
• Why is involving stakeholders in planning important?

  It builds commitment and increases plan relevance
• How should research be timed in relation to planning cycles?

  To align with strategic planning milestones
• What are the tasks involved in aligning employee incentives?

  1. Link incentives to research-driven goals
• What is the outcome of linking incentives to research-driven goals?

  Encourages employees to prioritize research objectives