Companies constantly have to make decisions about the products and services they offer. In order to create successful products and services, it is necessary to know how consumers can become customers. Therefore it is essential for a company to under- stand who their (potential) customers as well as (potential) competitors are. Accord- ing to Kotler/Keller, it is “the job of marketing researchers to produce insight into the customer’s attitude and buying behavior”.
Over the last years, the Internet has been a fast developing technology. Especially services like email or chat-rooms are used in everyday life by millions of people.2 The usage of the Internet has spread very fast through nearly the whole society. It is estimated that today nearly 67% of U.S. households have access to the Internet. Kotler/Keller state that online research “[...] was estimated to make up 33 % of all survey-based research in 2006, and Internet-based questionnaires also accounted for nearly one-third of U.S. spending in market research surveys in the same year”.
This raises the question whether the Internet is a suitable device for market research. This paper will discuss the use of the Internet for conducting market research on sales markets. First, the concept of market research, as well as what is understood by the term ‘Internet’, will be defined. Thereafter it will be discussed whether and how the Internet can be of assistance to market research.
Table of Contents
- 1. INTRODUCTION
- 2. DEFINITIONS
- 3. THE MARKET RESEARCH PROCESS
- 3.1. Definition of Problem and Research Objectives
- 3.2. Development of a Research Plan
- 3.3. Collecting the Information
- 3.3.1. Executing the Research Plan
- 3.3.2. Online Communities
- 3.3.3. Email Surveys and Computer Aided Web Interview
- 3.3.4. Tracking Web Site Users
- 3.3.5. Online Group Discussion
- 3.3.6. Online Panels
- 3.4. Analyzing the Information
- 3.5. Presenting the Findings and Making the Decision
- 4. QUALITY ASPECTS OF ONLINE SAMPLES
- 5. CONCLUSION
Objectives and Key Themes
This paper aims to investigate the suitability of the internet as a tool for market research, focusing on sales markets. It explores the market research process within the context of online methodologies and examines the quality of online samples.
- Defining market research and its process
- Exploring the use of the internet for data collection in market research
- Analyzing various online market research methods
- Assessing the quality of data obtained through online research
- Determining the overall effectiveness of internet-based market research
Chapter Summaries
1. Introduction: This introductory chapter establishes the context for the paper by highlighting the critical role of market research in informing company decisions regarding products and services. It emphasizes the importance of understanding consumer behavior and competition. The chapter introduces the rapid development of the internet and its increasing prevalence in daily life, prompting the central question of whether the internet is a viable tool for conducting effective market research. The growing use of online research methods, particularly surveys, is noted, leading to the main focus of the paper: an evaluation of the internet's suitability for market research on sales markets.
2. Definitions: This chapter provides clear definitions of key terms, starting with "market research." It draws from Kotler/Keller's definition, emphasizing the systematic process of data design, collection, analysis, and reporting. The chapter then clarifies the distinction, according to Freter, between "market research" (focused on external market information) and "marketing research" (focused on sales markets and internal information). For the purposes of this paper, the terms are used synonymously due to the paper's focus on sales markets. Finally, the chapter defines the internet, describing it as a global computer network operating on TCP/IP and supporting various communication services, including email, websites, and newsgroups.
3. The Market Research Process: This chapter delves into the market research process as a multi-stage endeavor, beginning with problem definition and objective outlining. It stresses the importance of precise problem definition, neither too broad nor too narrow, advocating a backward approach from the ultimate decision to the root problem. The chapter outlines the importance of clearly defined research objectives linked to the research purpose. The chapter then focuses on data collection, encompassing several online methods such as online communities, email surveys, computer-aided web interviews, website user tracking, online group discussions, and online panels. This section forms the core of the paper, detailing how the internet facilitates various data gathering approaches. While the chapter mentions the later steps of analysis and decision-making, the main focus is on the diverse data collection techniques enabled by the internet.
4. Quality Aspects of Online Samples: This chapter would likely discuss the challenges and considerations related to ensuring the quality and representativeness of online samples in market research. This would involve exploring issues such as sample bias, response rates, and the generalizability of online findings to the broader population.
Keywords
Market research, internet, online research methods, data collection, online surveys, online communities, sample quality, consumer behavior, marketing decisions.
Frequently Asked Questions: A Comprehensive Guide to Online Market Research
What is the main topic of this paper?
This paper investigates the suitability of the internet as a tool for market research, specifically focusing on sales markets. It explores the market research process using online methodologies and examines the quality of online samples obtained.
What are the key themes explored in the paper?
The key themes include defining market research and its process; exploring internet-based data collection in market research; analyzing various online market research methods; assessing the quality of data from online research; and determining the overall effectiveness of internet-based market research for sales markets.
What is the structure of the paper?
The paper is structured into five chapters: An introduction setting the context and highlighting the research question; a chapter defining key terms like "market research" and "internet"; a detailed exploration of the market research process with a focus on various online data collection methods; a chapter dedicated to discussing the quality aspects of online samples; and finally, a conclusion summarizing the findings.
What are some of the online market research methods discussed?
The paper explores several online methods, including online communities, email surveys, computer-aided web interviews, website user tracking, online group discussions, and online panels. These methods are detailed within the context of the overall market research process.
What aspects of online sample quality are considered?
While the specifics aren't detailed in the preview, the paper addresses the challenges and considerations related to ensuring the quality and representativeness of online samples. This likely includes issues such as sample bias, response rates, and the generalizability of findings to the broader population.
How is the market research process defined in the paper?
The paper defines the market research process as a multi-stage endeavor, starting with defining the problem and research objectives. It emphasizes a precise problem definition and clearly defined research objectives linked to the research purpose. The process then involves data collection, analysis, and finally, presenting findings and making decisions.
What is the difference between "market research" and "marketing research" as defined in the paper?
The paper clarifies the distinction, according to Freter, between "market research" (focused on external market information) and "marketing research" (focused on sales markets and internal information). However, for this paper's focus on sales markets, the terms are used interchangeably.
What are the keywords associated with this paper?
The keywords include: Market research, internet, online research methods, data collection, online surveys, online communities, sample quality, consumer behavior, and marketing decisions.
- Quote paper
- Dipl.Kfm, Christopher Schroeder (Author), 2010, The Internet as a Device for Market Research, Munich, GRIN Verlag, https://www.grin.com/document/155475
