Lecture 1
Lecture 1
Lecture 1
• Organizational Knowledge
• Knowledge gained through the interactions between technologies, techniques
and people
• Explicit knowledge
• Documented and share via IT. It is structured, fixed and
externalized
• Tacit knowledge
• It is difficult to document, about the behaviour and body
languages, helps a lot in cultivating business relationships
Knowledge: how to set up in the organization
Enterprise Partners
Enterprise
Partners
knowledge
Competitors
Competition
Customers
Marketing & Business Research
Customer Groups
Consumers Employees
Shareholders Suppliers
Uncontrollable
environment
Controllable Variables
Marketing
Variables Economy
Marketing / Business Research
Product Technology
Pricing Competition
Promotion Laws and Regulations
Assessing Providing Marketing
Distribution information Decision Cultural and social
needs information factors
Making
Political factors
Customer Groups
Market Segmentation
Target Market Selection
Marketing Programs
Performance and Control
TYPICALLY ASKED BUSINESS QUESTIONS
Why is my product not moving in the market?
What is the likely demand for the new product I intend
introducing?
What is my current level of customer satisfaction?
Am I charging the optimum price?
Is my Ad campaign effective?
Have I understood the purchase and usage patterns of my
customers?
Who are my customers? How can I segment them?
What is my brand equity? How can I leverage on it?
How best should I position/reposition my product?
How well do I know my competitors, what strategies
should I adopt?
What market / business research is?
• The systematic and objective identification, collection, analysis,
dissemination, and use of information for the purpose of
assisting management in the decision making related to the
identification and solution of problems in marketing & business.
Time Constraints Availability of Data Nature of the Decision Benefits vs. Costs
Is the Does the
Information
Is sufficient decision of information Yes
Yes already on Yes Yes Conduct
time strategic value
hand Research
available? or tactical exceed the
inadequate?
importance? research cost?
No No No No
➢Research expenditures
➢Decreased uncertainty ➢Delay of marketing
➢Increased likelihood of decision and possible
correct decision disclosure of information
➢Improved marketing to rivals
performance and ➢Possible erroneous
resulting higher profits research results
Costs
Value
Introduction to the research process
Things to consider
Methods -
Methodology -
Characteristics:
• Knowledge production –
(Modes 1 and 2 knowledge)
Sources:
authors’ experience; Easterby-Smith et al. (2008); Hedrick et al. (1993)
Figure 1.1 Basic and applied research
The research process (1)
Stages of the research process
• Collecting data
• Analysing data
• Writing up
Based on Figure 1.2: Saunders et al. (2009)
The research process (2)
Factors to consider
• Access to data
• Ethical issues
Summary
• Is transdisciplinary
Appropriateness: is it worthwhile?
Useful Techniques
• Integrating ideas
Useful techniques
Creswell (2002)