Market Research Toolbox

An ideal resource for those who want to conduct market research but have little experience in doing so, The Market Research Toolbox describes how to think of market research in the context of making a business decision. The book begins by defining market research and discussing some of the various types and techniques. It then examines what objectives can be met by doing market research and the expected payoffs. Six traditional market research techniques are covered - secondary research, customer visits, focus groups, surveys, choice modelling and experimentation. The author describes how each technique works along with its costs and uses, tips for success, when and how to use certain techniques and precautions to take while using them. Next, McQuarrie discusses nontraditional types of market research that have evolved in recent years to meet the needs of business-to-business marketers and technology firms. The volume concludes with a chapter on five common business applications that can be addressed by combining several individual research techniques into a research strategy. New to the Second Edition: - Chapters 1 and 2 have been extensively revised and updated based on feedback from students. - Chapter 3 on secondary research includes a new section on Internet research. - Chapter 6 will be split into two chapters, one to focus on survey research procedures and the other to focus on questionnaire design. - Chapter 7 will be revised to focus almost exclusively on conjoint analysis, a key tool. - Chapter 9 will be deleted, and relevant material will be moved to other chapters. - Chapter 10 will be expanded to include new topics such as forecasting - An Instructors Resource on CD-ROM will be made available to lecturers adopting the book for course use. It contains PowerPoint slides, case questions, teaching notes for suggested cases that can be linked to the book, and a sample syllabus. "McQuarrie presents an overview of market research for a manager and others who seek an understanding of the subject. . . .The choice of tools reflects current trends and includes business-to-business as well as consumer applications. The presentation is comprehensive, concise, and nontechnical." -- W.C. Struning * CHOICE *

Author bio Preface Plan of the book Who should read this book? 1. Nature and Characteristics of Market Research Distinction #1: exploratory vs. confirmatory research Distinction #2: marketing intelligence vs. market research Relationship of business strategy to market research Technological innovation and market research Concluding comments Suggested reading 2. Planning for Market Research Decision problem to research question Types of decision problem: the decision cycle Matching tools to decisions Effective application of research tools Summary Dos and Don'ts Suggested reading 2A. Financial justification for market research Part II 3. Secondary Research Procedure Steps to be taken by the firm Steps to be taken for ongoing market intelligence gathering Examples Strengths and Weaknesses Dos and Don'ts Suggested reading 3A: Search strategies for gathering marketing intelligence 4. Customer visits Ad hoc visits for marketing intelligence Programmatic visits for market research Examples Cost Strengths and Weaknesses Dos and Don'ts Suggested reading 5. The focus group Procedure Cost factors Examples Strengths and Weaknesses Dos and Don'ts Suggested reading 6. Sampling Types of samples Probability sample or non-probability sample? Why non-probability samples? Qualitative research and judgment samples The importance of understanding different types of samples Estimating the required sample size Formula for computing sample size Estimating the variance for a proportion variance variance Sampling reminders and caveats Suggested reading 7. Survey research Procedure Conducting the survey yourself Cost factors Examples Strengths and Weaknesses Dos and Don'ts Suggested reading 8. Questionnaire design Procedure Generating content for questionnaires Best practices and rules to observe The questionnaire as a whole Question phrasing Answer categories Suggested reading 9. Choice modeling via conjoint analysis Designing a conjoint analysis study Strengths and Weaknesses Dos and Don'ts Suggested reading 10. Experimentation Example #1: crafting direct mail appeals Example #2: selecting the optimal price Example #3: selecting a product design Commentary Strengths and Weaknesses Dos and Don'ts Suggested reading 11. Data analysis Procedure Types of data analysis in market research Managerial perspective on data analysis Suggested readings Suggested readings Part III 12. Combining Research Techniques into Research Strategies Developing new products Assessing customer satisfaction Segmenting a market Expanding into a market Developing an advertising campaign