Marketing Research: Process, Types, and Methods
Marketing Research: A Systematic Approach
Marketing Research: The systematic and objective process of finding information. The identification, collection, analysis, dissemination, and use of information for the purpose of improving decision-making. The main goal is to gain insight.
Types of Marketing Research
- Problem Identification vs. Problem Solving: Problem Identification (PI) research helps identify current or potential future problems, while Problem Solving (PS) research helps solve specific marketing issues.
- Qualitative vs. Quantitative: Qualitative research is non-numerical, while quantitative research is numerical and statistical.
- Primary vs. Secondary: Primary research is conducted firsthand, while secondary research uses publicly available data.
Six Steps of the Marketing Research Process
- Defining the Problem
- Developing an Approach to the Problem
- Formulating a Research Design
- Conducting Field Work / Collecting Data
- Preparing & Analyzing Data
- Preparing and Presenting the Report
Management vs. Research Problem
A Management Decision Problem (MDP) asks what the decision-maker needs to do, is action-oriented, and focuses on symptoms. A Marketing Research Problem (MRP) asks what information is needed, is information-oriented, and focuses on underlying causes.
Broad and Specific Components of a Research Problem
A broad problem statement can be broken down into specific components that capture the essence of the research.
Qualitative Research: In-Depth Insights
Qualitative research gathers rich, descriptive information for deeper insights. It identifies attitudes, motivations, emotions, values, and morals underlying behavior and decisions. Qualitative research can be exploratory or explanatory. Exploratory research is used when the researcher lacks insight, while explanatory research is used when deeper insights are needed.
Overview of Qualitative Research Methods
- Individual In-Depth Interviews: Conducted on a 1:1 basis, suitable for sensitive issues. Eliminates social pressure, but results depend on the interviewer’s skills and can be costly.
- Focus Groups: Planned group discussions where results are subjective. Not representative of the larger market but can stimulate thinking and identify issues for further research. Allows ideas to build on each other and reduces pressure on introverted participants. However, it can be unstructured, not representative, and may suffer from groupthink.
- Ethnographic Research: Examines participant behavior in social situations, either disguised or undisguised. Focuses on group behavior, ranging from re-created reality to pure ethnography. Allows for observation of behaviors in their natural setting, but is hard to quantify and best suited for behaviors that can be analyzed.
Online Qualitative Research
Online qualitative data can be divided into extant, elicited, and enacted.
- Extant Data: Developed without researcher influence. Reveals attitudes from natural settings, is quick, and easy to access. However, records may be incomplete, biased, or altered.
- Elicited Data: Data gathered in response to researcher questions. Can be synchronous or asynchronous. Allows for asking ‘why’ and direct communication with participants. However, it is hard to read body language and has limitations with physical 3D stimuli.
- Enacted Data: An environment is constructed for participants, who are considered co-researchers. Generates many ideas and discussions due to high involvement. However, body language cues may be hard to read, there can be technical difficulties, and participants can get distracted.
Big Data
Big data is a collection of high-volume, high-velocity, and high-variety data. It is only relevant when processed and analyzed. It can be structured, semi-structured, or unstructured.
Sources of Structured Data
Machines and Humans