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Über dieses Buch

This accessible, practice-oriented and compact text provides a hands-on introduction to the principles of market research. Using the market research process as a framework, the authors explain how to collect and describe the necessary data and present the most important and frequently used quantitative analysis techniques, such as ANOVA, regression analysis, factor analysis, and cluster analysis. An explanation is provided of the theoretical choices a market researcher has to make with regard to each technique, as well as how these are translated into actions in IBM SPSS Statistics. This includes a discussion of what the outputs mean and how they should be interpreted from a market research perspective. Each chapter concludes with a case study that illustrates the process based on real-world data. A comprehensive web appendix includes additional analysis techniques, datasets, video files and case studies. Several mobile tags in the text allow readers to quickly browse related web content using a mobile device.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction to Market Research

When Toyota developed the Prius – a highly fuel-efficient car using a hybrid petrol/electric engine – it took a gamble on a grand scale. Honda and General Motors’ previous attempts to develop frugal (electric) cars had not worked well. Just like Honda and General Motors, Toyota had also been working on developing a frugal car but focused on a system integrating a petrol and electric engine. These development efforts led Toyota to start a development project called Global twenty-first century aimed at developing a car with a fuel economy that was at least 50% better than similar-sized cars. This project nearly came to a halt in 1995 when Toyota encountered substantial technological problems. The company solved these problems, using nearly a thousand engineers, and launched the car, called the Prius, in Japan in 1997. Internal Toyota predictions suggested that the car was either going to be an instant hit, or that the take-up of the product would be slow, as it takes time to teach dealers and consumers about the technology. In 1999, Toyota made the decision to start working on launching the Prius in the US. Initial market research showed that it was going to be a difficult task. Some consumers thought it was too small for the US, some thought the positioning of the controls was poor for US drivers, and there were other issues, such as the design, which many thought was too strongly geared toward Japanese drivers.
Erik Mooi, Marko Sarstedt

Chapter 2. The Market Research Process

Executing professional market research requires good planning. In this chapter, we introduce the planning of market research projects, starting with identifying and formulating the problem and ending with presenting the findings and the follow-up (see Fig. 2.1). This chapter is also an outline for the chapters to come.
Erik Mooi, Marko Sarstedt

Chapter 3. Data

lie at the heart of conducting market research. By data we mean a collection of facts that can be used as a basis for analysis, reasoning, or discussions. Think, for example, of the answers people give to surveys, existing company records, or observations of shoppers’ behaviors.
Erik Mooi, Marko Sarstedt

Chapter 4. Getting Data

In the previous chapter, we discussed some of the key theoretical concepts and choices prior to collecting data such as validity, reliability, sampling, and sample sizes. We also discussed different types of data. Building on Chap. 3, this chapter discusses the practicalities of collecting data. First, we discuss how to collect quantitative and qualitative secondary data. Subsequently, we discuss how to collect primary data through surveys. We also introduce experimental research and some basics of primary qualitative research.
Erik Mooi, Marko Sarstedt

Chapter 5. Descriptive Statistics

Market research projects involving data become more efficient and effective if a proper workflow is in place. A workflow is a strategy to keep track of, enter, clean, describe, and transform data. These data may have been collected through surveys or may be secondary data. Haphazardly entering, cleaning, and analyzing bits of data is not a good strategy, since it increases one’s likelihood of making mistakes and makes it hard to replicate results. Moreover, without a good workflow of data, it becomes hard to document the research process and cooperate on projects. For example, how can you outsource the data analysis, if you cannot indicate what the data are about or what specific values mean? Finally, a lack of good workflow increases one’s risk of having to duplicate work or even of losing all of your data due to accidents. In Fig. 5.1, we show the steps necessary to create and describe a dataset after the data have been collected.
Erik Mooi, Marko Sarstedt

Chapter 6. Hypothesis Testing & ANOVA

In the previous chapter, we learned about descriptive statistics, such as means and standard deviations, and the insights that can be gained from such measures. Often, we use these measures to compare groups. For example, we might be interested in investigating whether men or women spend more money on the Internet. Assume that the mean amount that a sample of men spends online is 200 USD per year against the mean of 250 USD for the women sample. Two means drawn from different samples are almost always different (in a mathematical sense), but are these differences also statistically significant?
Erik Mooi, Marko Sarstedt

Chapter 7. Regression Analysis

Regression analysis is one of the most frequently used tools in market research. In its simplest form, regression analysis allows market researchers to analyze relationships between one independent and one dependent variable. In marketing applications, the dependent variable is usually the outcome we care about (e.g., sales), while the independent variables are the instruments we have to achieve those outcomes with (e.g., advertising). Regression analysis can provide insights that few other techniques can. The key benefits of using regression analysis are that it can:
Erik Mooi, Marko Sarstedt

Chapter 8. Factor Analysis

Factor analysis identifies unobserved variables that explain patterns of correlations within a set of observed variables. It is often used to identify a small number of factors that explain most of the variance embedded in a larger number of variables. Thus, factor analysis is about data reduction. It can also be used to generate hypotheses regarding the composition of factors. Furthermore, factor analysis is often used to screen variables for subsequent analysis (e.g., to identify collinearity prior to performing a linear regression analysis as discussed in Chap. 7).
Erik Mooi, Marko Sarstedt

Chapter 9. Cluster Analysis

Grouping similar customers and products is a fundamental marketing activity. It is used, prominently, in market segmentation. As companies cannot connect with all their customers, they have to divide markets into groups of consumers, customers, or clients (called segments) with similar needs and wants. Firms can then target each of these segments by positioning themselves in a unique segment (such as Ferrari in the high-end sports car market). While market researchers often form market segments based on practical grounds, industry practice and wisdom, cluster analysis allows segments to be formed that are based on data that are less dependent on subjectivity.
Erik Mooi, Marko Sarstedt

Chapter 10. Communicating the Results

Communicating results is a critical step in a market research project. This includes giving clear answers to the research questions and recommending a course of action, where appropriate. The importance of communicating marketing research results should not be underestimated. Even if the research has been carefully conducted, spending too little time and energy on communication makes it difficult for clients to understand the implications of the results and to appreciate the study’s quality. To communicate the findings effectively, these need to be comprehensible to clients who may know little about market research and who may even be unfamiliar with the specific market research project. Hence, the communication must provide a clear picture of the whole project and should be relevant for the audience.
Erik Mooi, Marko Sarstedt

Backmatter

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