Summary Marketing Management 344 Comprehensive Notes & Summaries for A2 Preparation Stellenbosch University – Third Year Module

MARKETING
MANAGEMENT
344
A2 ESSAY STYLE NOTES
(BASED ON REGULARLY
ASKED PAST QUESTIONS
& KEY TAKEAWAYS PER
CHAPTER)

,SECTION 1:CHAPTER 3
THE MARKETING RESEARCH
PROCESS
THE RESEARCH PROCESS
STEPS IN THE RESEARCH PROCESS
1. Defining the Research Objectives
2. Research Design
3. Sampling
4. Data Collection
5. Data Analysis
6. Conclusions & Reporting


PRIMARY RESEARCH
(2)RESEARCH DESIGN
HOW:
Types of Research: (CHAPTER 3)
Exploratory
Descriptive
Causal
Research Categories:
Qualitative Research (CHAPTER 5)
Quantitative Research

Research Techniques:
Qualitative (Gives idea/direction and not evidence):
Focus group interviews
Depth Interviews
Quantitative:
Observation (CHAPTER 8)
Experiment (CHAPTER 9)
Survey (CHAPTER 7)


WITH WHAT:
Quantitative Research = Questionnaire


FROM WHO:
Sampling (CHAPTER 12)

, THE RESEARCH PROCESS
Secondary Data
Define Research Selection of Exploratory Previous Research
PROBLEM Objectives Research Technique Experience Survey
Case Study
DISCOVERY &
DEFINITION Problem Definition Problem Statement,
(Statement of Decision Statement,
Research Objectives) Variables & Objectives



PLANNING Survey Research (Interview or Questionnaire)
Selection of Basic
THE Research Method Experiment (Labratory or Field)
RESEARCH Secondary data study
Qualitative & Observation
DESIGN Quantitative Research




Selection of Sample Probability Sampling
SAMPLING
Design Non-Probability Sampling




DATA Collection of Data
GATHERING (Fieldwork)



Editing & Coding
DATA Data
PROCESSING
& ANALYSIS Data Processing &
Analysis


DRAWING Interpretation of
CONCLUSIONS Findings

& PREPARING
Report(s)
REPORTS

, SECTION 1:CHAPTER 3
THE MARKETING RESEARCH
PROCESS
TYPES OF MARKETING RESEARCH
EXPLORATORY RESEARCH
Exploratory research aims to clarify ambiguous situations or discover ideas that
may result in true business opportunities. It does not provide conclusive evidence
to support a specific course of action. Researchers expect the need for further
research to be conducted to obtain conclusive evidence. Exploratory research
can be particularly helpful in the development of new products, revealing
insights. Innovation is needed to provide steady streams of new brand ideas or
profitable brand extensions.


Exploratory research may be useful in helping to better define marketing
problems or identify market opportunities. It may be implemented to try and
reveal the symptoms observed in some situation and the underlying potential
problems causing those symptoms. It can also be unclear sometimes and provide
numerous potential causes that require further research.


DESCRIPTIVE RESEARCH
Descriptive research describes the characteristics of objects, people, groups,
organizations and the environment. It ‘paints a picture’ of a given situation and
addresses the who, what, why, when, where and how questions. This type of
research often helps to define market segments.


When compared to exploratory research, researchers that conduct descriptive
research usually have a considerable understanding of the marketing situation.
This understanding, that may have been developed through exploratory research,
direct the study towards more specific issues. Surveys typify descriptive
research.


Diagnostic analyses seek to detect reasons for market outcomes. It focuses
specifically on the beliefs, feelings and reactions consumers have on competing
products.