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o traps when defining the MRP ? Define it too broadly ? Does not provide clear guidelines ? Define it too narrowly ? Precludes some alternative courses of action ? Prevents the researcher from addressing important concerns ? Results in trivial and unimportant findings Broad MDP – Increase market share Broad MRP – What factors will result in an improved market share? Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 13 Topic ? From management decision problem to marketing research problem ? Defining the marketing research problem ? Tasks in defining the marketing research problem ? The research brief ? Marketing research suppliers and services ? Importance of ethics in marketing research ? Stakeholders in marketing research ? International marketing research ? Summary Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 15 Describing the Information Required ? Specify the key aspects of the problem ? Set clear guidelines on how to proceed toward the research objectives ? Description of the information ? Provides insights into the nature of the decision ? Allows DM to clarify the decision making process Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 17 Estimating the Value of Research and Setting a Budget ? Research is a cost and a budget is a must ? Value of research – what does the research contribute towards a better decision? ? Alternative approaches ? Expected value ? Return on investment ? Value contribution Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 19 Return on Investment (ROI) ? Project likely to return $1m ? Cost of project is $4m ? Therefore ROI = $1m/$4m = 25% ? In the public and social areas a costbenefit approach applicable ? Relates benefits against meeting public and social objectives Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 21 Value Contribution Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 and (2) if not set then the research agency cannot tell how important the study is and could guess incorrectly Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 24 The Research Brief ? Formal brief should be the oute of defining the research problem ? It is a document that describes the business decision problem and the expectations of a research study design to collect information to make the decision ? Two types of briefs: ? Prescriptive ? Open Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 26 The Research Brief ? Brief requires: ? Background information ? Consideration of the management problem ? Information required to make decisions ? Specification of decision criteria ? Budget estimate ? Indication of timing Students should refer to Appendix 2A (Reaching agreement on a market research project) and Appendix 2B (Writing a research brief) for more details Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 28 Selecting a Research Supplier ? External supplier used when tasks cannot be undertaken internally ? Basic criteria for supplier selection: ? Reputation ? Complete on schedule ? Maintain ethical standards ? Flexibility ? High quality projects ? Extent and type of experience ? Experience in similar projects ? Level of technical and nontechnical expertise ? Client munication skills Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 30 Topic ? From management decision problem to marketing research problem ? Defining the marketing research problem ? Tasks in defining the marketing research problem ? The research brief ? Marketing research suppliers and services ? Importance of ethics in marketing research ? Stakeholders in marketing research ? International marketing research ? Summary Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 32 Marketing Research Suppliers and Services ? Syndicated services ? Companies that collect and sell mon pools of data designed to serve information needs shared by a number of clients ? Omnibus survey ? A regularly scheduled multiclient and multitopic survey that is available for any client to add questions on a sharedcost basis ? Standardised or branded services ? Those that are available on the same basis over time to many different businesses Malhotra, Hall, Shaw, Oppenheim: Marketing Research 3e 169。 2023 Pearson Education Australia 34 Marketing Research Suppliers and Services ? Field services ? Focus on data collection via mail, personal or telephone interviewing ? Coding and data entry services ? Involve transf