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					Marketing Research (P3/M2/D2)


         Unit 3: Introduction to Marketing
      BTEC National Level 3 Award in Business
                        Yr12
                    Miss Vincent
           Learning Objectives
By the end of today’s lesson, you should be able
  to…

LO1) Explain the difference between primary and
     secondary research (all).
LO2) Explain the difference between qualitative and
     quantitative research (all).
LO3) Critique the use of marketing research in developing
     marketing plans (most).
       Market Research…
Gathering, recording and analysis of
data about a particular target market,
competition and/or environment.
                    Marketing is all about
                  responding to customers’
                    wants/needs. Market
                research is about finding out
                what those needs/wants are!
      Marketing Research…
Marketing research is the analysis of
marketing strategies such as how
effective advertising has been or a
particular promotion.
                Scenario:
Your Marketing Director has asked you to find
out how well the new flavour of banana and
dark chocolate ice cream is selling and how
customers are perceiving the new product. He
is concerned that the company’s nearest
competitor has just launched a similar flavour
and is worried that this is out-selling ours!
       LO1) Primary Research
Primary Research (field research):
  Data/info that has been gathered first-hand.
  This is information that did not exist before the
  research began.



  Methods include: questionnaires, postal
  surveys, telephone interviews, focus groups,
  test marketing
    LO1) Secondary Research
Secondary Research (desk research):
Data that is already in existence in some form
and has been produced by someone else.

Internal-     sales figures, existing market
              research reports, annual
              reports & accounts.
External-     Competitor info I.e. brochures,
              books, journals, newspapers,
              marketing journals, websites,
              census data, public records.
 LO2) Qualitative Vs Quantitative
Quantitative:
 Information/data that you can measure
 (statistical data) such as “how many cans of
 lemonade do you buy each week?”

Qualitative:
 Information about peoples’ attitudes, beliefs,
 feelings and opinions. E.g. “What do you think
 of pepperoni pizza?”
    LO3) Advantages & Limitations
            ADVANTAGES                                LIMITATIONS
Finding out what customer’s            Relying on people’s opinions (human
want/need and developing a             behaviour) that can change over time
product/service to match that needs    (or as fashions change!).
reduces the risk of product failure!
Businesses are not just relying on     Costly (might have to employ a
guesswork.                             market research agency to collect the
                                       primary research on your behalf).
Measure effectiveness over time.       Time-consuming!
Measure success of a                   Reliability?
marketing/promotional campaign.
                                       Validity (how accurate is your data?)
                                       Sampling and bias (can not ask the
                                       whole population!!!)
           Learning Objectives
By the end of today’s lesson, you should be able
  to…

LO1) Explain the difference between primary and
     secondary research (all).
LO2) Explain the difference between qualitative and
     quantitative research (all).
LO3) Critique the use of marketing research in developing
     marketing plans (most).
                      Key Terms
Market Research    Marketing     Primary Research   Secondary
                   Research                          Research
  Qualitative     Quantitative       Validity
   Research        Research

				
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posted:12/18/2011
language:English
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