Marketing Audit Approach

STEP 1: DEFINE THE PROBLEM

The research objectives are specific, measurable goals the decision makers seek to achieve in solving a problem. Typical marketing objectives are increasing sales and profits, discovering what consumers are aware of and want, and finding out why a product isn't selling well. In setting these research objectives, marketers have to be clear on the kind of research they are about to do. The three kinds of research, with examples explained in more detail later in the chapter, are:

A. Exploratory research provides ideas about a relatively vague problem. General Mills discovered that the initial version of its Hamburger Helper wasn't satisfactory for many consumers, so it interviewed them to get ideas to improve the product.

B. Descriptive research generally involves trying to find the frequency that something occurs or the extent of a relationship between two factors. So when General Mills wants to study how loyal consumers are to its Wheaties, it can obtain data on the number of households buying Wheaties and competitive products.

C. Causal research, the most sophisticated, tries to determine the extent to which the change in one factor changes another one. In the Fisher-Price example discussed next, changing the toy designs is related to changes in the amount of time children play with the toy. Experiments and test markets, discussed later, are examples of causal research.

1. What types of information and data you plan to review

2. The types of analysis you might perform on the data that you collect

3. When you plan to do this

4. Any challenges that you perceive in completing the part

STEP 2: DEVELOP THE RESEARCH PLAN

The second step in the marketing research process involves (1) specifying the constraints on the marketing research activity, (2) identifying the data needed for marketing decisions, and (3) determining how to collect the data.

1. What types of information and data you plan to review

2. The types of analysis you might perform on the data that you collect

3. When you plan to do this

4. Any challenges that you perceive in completing the part

STEP 3: COLLECT RELEVANT INFORMATION

Collecting enough relevant information to make a rational, informed marketing decision sometimes simply means using your knowledge to decide immediately. At other times it entails collecting an enormous amount of information at great expense.

1. What