Introduction to Research

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 What is Research?
Decisions Making?

Information
.

Role of research: provide information to support

decision making.

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Marketing Research Does Matter
Big money is involved in marketing decisions

Example: automakers

3
Research Does Matter
A lot of uncertainty in decisions

Example: Government bailout of banks and

automakers
Will it work?

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Research Does Matters
Research is everywhere
From personal decisions, business decisions,
to government decisions…

5
 Should we conduct research?

•Situation analysis: Problems or opportunities

•Decision alternatives

Estimate the NO Do not conduct

value of
information marketing research

Is benefit > cost

Yes
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Evaluate the Value of Information
Related Factors:
 Uncertainty: how likely will the new
information alter your decision?
 Risk: how critical is the consequence of
making a wrong decision?
 Accuracy of Information

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Summary—Why Research?
 Decisionoften involves risk when
information is not perfect

 Riskand uncertainty can be reduced through

research.

 Value of information depends on uncertainty,

risk and accuracy of information

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The Research Process

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Discussion
Imagine that you are the marketing
manager of a five-star hotel, how
would you do your research when
you make decisions in this economic
downturn?

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Research Process
1. Formulate Problems: Specify research objectives

2. Research Design: Exploratory, Descriptive, Causal

3. Data Collection Method: (1).Primary/secondary;

(2) Questionnaire Design; (3).Attitude Measurement.

4. Sample Design: Sample selection; Sample size.

5. Data Analysis: Interpretation.

6. Research Report

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 Research Process
The process is more complex than it shows.

Itcould include feedback loops and rethink

some steps.

Steps are inter-related.

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