Marketing Research by bK4698M


									Marketing Research
      Unit 11
      Marketing Information

   How are decisions made to introduce
    new products and delete old ones?
            Unit 11 Vocabulary
   Attitude Research            Open-ended Questions
   Data Analysis                Point-of-sale Research
   Database Marketing           Primary Data
   Database                     Problem Definition
   Experimental Method          Product Research
   Forced-choice Questions      Quantitative Research
   Market Intelligence          Qualitative Research
   Marketing Research           Reliability
   Marketing Information        Sample
    System                       Secondary Data
   Media Research               Survey Method
   Observation Method           Validity
        Unit 11 Essential

   How does marketing information
    and research affect business and
    marketing decisions?
     Essential Question 1
     Marketing Research

 What is the role of marketing
 information management?
What is Marketing Research?
 Obtaining information about the
  preferences, opinions, habits, trends,
  and plans of potential customers.
 Helps to determine what customers
  want and need.
 Why is Research Important?
 Businesses  that do not pay attention
  to what consumers are buying, are
  likely to make costly mistakes.
 Information obtained from research
  helps businesses to plan for the
 Why is Research Important?

 Helps  to anticipate or solve problems
  in the marketplace.
 Helps a company keep track of what
  is happening in its markets.
     Essential Question 2
     Marketing Research

 How  does each type of research
 differ from each other?
Types of Marketing Research
   Advertising Research
 Focuses on the
 effectiveness of the
 advertising message
 and the effectiveness
 of media placement.
Types of Marketing Research
    Product Research
 Usedto evaluate product
 design and acceptance,
 competitive products,
 package design, and
 product usage.
Types of Marketing Research

            Market Research
 Studiescustomer behavior (customer
 analysis) to gather information about
 customer attitudes.
Types of Marketing Research

            Market Research
 Studiesthe behavior of a consumer
 market (market analysis) to
 investigate the potential markets for a
 product and to define the target
Types of Marketing Research
          Sales Research
 The study of sales data to determine
 the potential sales for a product and
 to solve problems related to future
     Essential Question 3
     Marketing Research

 What are the steps in the marketing
 research process?
   The Marketing Research
  Step 1 - Defining the Problem
 Identify and clearly state what the
  problem is and what can be done to
  solve the problem.
 Determine which problems are the
  most important to solve at a given
   The Marketing Research
     Step 2 - Obtaining Data
 Collectand examine information in
  terms of the problem being studied.
 Primary data can be used and/or

 Secondary data can be used.
   The Marketing Research
   Step 3 - Analyzing the Data
 Compiling,  analyzing, and
  interpreting the results of primary
  and secondary data.
 The results of each question can be
  clearly read and interpreted.
   The Marketing Research
Step 4 - Recommending Solutions
          to the Problem.
 Solutions are usually presented in a
  well written report.
 Recommendations must be clear and
  supported by the research data.
   The Marketing Research
  Step 5 - Applying the Results
 Therequired form of action is
 decided upon and put into place.
    Essential Question 4
    Marketing Research

 Whatare the differences in
 primary and secondary data?
            Types of Data
 Primary    data: Data obtained for the
  first time and used specifically for
  the particular problem or issue under
 Secondary data: Data already
  collected for some purpose other than
  the current study.
    Essential Question 5
    Marketing Research

 Whatmethods are used to collect
 primary and secondary data?
              Data Collection
   Primary data can be obtained by:
                   - the survey method
                - the observation method
               - the experimental method
   Secondary data can be obtained by a
    number of agencies.
                     - Internet Sources
               - US and Government Sources
             - Specialized Research Companies
      - Business Publications and Trade Organizations
    Essential Question 6
    Marketing Research

 How are population, sample, bias,
 and error used in marketing
                   Data Sampling
   When designing a survey, marketers must
    determine the number of people to
    include in their survey.
    •   Population: The entire target group of people under study.
    •   Sample: Part of the target population that represents it
    •   Bias: Inaccuracies introduced into the results due to errors
        in measurement, coverage, and nonresponsive.
    •   Error: Determined by the sample size with respect
        to the population. The greater the sample size,
        the lower the margin of error.
     Essential Question 7
     Marketing Research

 What are the trends and limitations
 in marketing research?
                  Research Trends
   Trends in research:
    •   Global Marketplace
         -   Due to increased international competition, US
             companies must improve or change products frequently
             to hold on to customers.
         -   Product quality and customer satisfaction are keys to
             business success and research that measures these
             qualities are the fast form of marketing research.
    •   Business Management
         -   Many businesses are using internal and external
             information to improve business operations.
        Research Limitations
 Limitations   in research:
  •   Money
  •   Time
  •   Customers saying one thing and doing

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