Topic 1 Introduction to Marketing Research

Summary

This lecture introduces marketing research, distinguishing between inquiry and research. It outlines two types of research design: qualitative and quantitative. The session covers five types of qualitative research, including experimental, correlational, descriptive, diagnostic, and explanatory designs. It emphasizes the importance of choosing the right research design to answer specific questions. The lecture also explains the marketing research process, from identifying problems to taking action based on findings. Finally, it touches on the IMRaD format for structuring research papers and concludes with an assignment on submitting a biographical statement.

Takeaways

• 📚 The difference between 'query' and 'research' is that query involves asking questions to seek answers, while research is a systematic process to find answers and establish facts.
• 🔍 There are two main types of research design: qualitative (descriptive without numerical data) and quantitative (analyzes data in terms of numbers).
• 📊 Quantitative research design answers 'who,' 'what,' 'where,' 'how,' and 'when,' and presents outcomes using statistics, graphs, and numbers.
• 📖 Qualitative research design aims to answer 'how' and 'why,' using open-ended questions and focusing on understanding behavior.
• 🧪 Experimental research design studies cause and effect relationships, like comparing TV commercials and online ads for impact.
• 🔗 Correlational research design studies the relationship between two variables, such as brand loyalty and customer satisfaction.
• 📝 Descriptive research design gathers unbiased data through observation, case studies, and surveys to understand behaviors.
• 🩺 Diagnostic research design identifies the cause of problems and finds solutions, often used in marketing to improve products.
• 📑 Explanatory research design explores concepts and theories to understand the reasons behind behaviors or trends.
• 🧠 Marketing research gathers information on target markets to improve products and customer experience, often using surveys and focus groups.

Q & A

What is the main difference between a query and research?

A query is about generating questions, seeking out answers, and exploring complex problems, while research is a more systematic process of finding answers, establishing facts, and reaching new conclusions.

What are the two main types of research design discussed in the script?

The two main types of research design discussed are qualitative and quantitative.

How does quantitative research design differ from qualitative research design?

Quantitative research design aims at finding answers to questions like who, what, where, and when, and its outcomes are often represented in the form of statistics, graphs, and charts. Qualitative research design focuses on understanding 'how' and 'why', using open-ended questions to help subjects express their views clearly.

What is an experimental design in research?

Experimental design is a type of research that scientifically observes human behaviors and social psychology by establishing a clear cause and effect of every event. It tries to understand the impact of independent variables on dependent variables.

Can you provide an example of experimental design in marketing?

An example of experimental design in marketing would be comparing the effects of television commercials versus online advertisements in a controlled environment to see which gets more attention among different age groups and genders.

What is correlational design and how is it used in marketing?

Correlational design establishes a relationship between two related variables by observing them over time. In marketing, it can be used to examine relationships such as between brand loyalty and consumer satisfaction.

What is descriptive research design and how does it help in understanding customer behavior?

Descriptive research design is a theory-based method that describes the primary subject matter of the research. It uses techniques like natural observation, case studies, and surveys to provide insight into customer behavior and interactions with specific features.

What is diagnostic design and how does it help in solving business problems?

Diagnostic design strives to explore the reasons behind an issue and find solutions to solve it. It is often used in marketing to identify areas of improvement or potential opportunities for growth by analyzing customer feedback and reviews.

What is the purpose of explanatory design in research?

Explanatory design in research aims to explore concepts and ideas to understand more about a subject. It seeks to answer questions like 'how', 'what', and 'why' by exploring undiscovered aspects and theories.

How does marketing research help a company in making decisions?

Marketing research helps a company by gathering information to better understand the target market, consumer behavior, and perspectives. This information is used to design better products, improve customer experience, attract quality leads, and improve conversion rates.

What is the IMRaD format and how is it used in research papers?

IMRaD stands for Introduction, Method, Results, and Discussion. It is a format often used for structuring research papers, particularly in social science, natural science, engineering, and computer science. It provides a clear and logical structure for presenting research findings.

What is a biographical statement and how is it used in academic settings?

A biographical statement is a document that provides personal information such as name, contact details, and a brief description of one's background and accomplishments. In academic settings, it is often used for assignments or as part of an application process.