introduction to marketing research ppt

Introduction to Marketing Research

Market research and marketing research are often confused. ‘Market’ research is simply research into a specific market. It is a very narrow concept. ‘Marketing’ research is much broader. It not only includes ‘market’ research, but also areas such as research into new products, or modes of distribution such as via the Internet . Here are a couple of definitions:

The Marketing research Process.

Marketing research is gathered using a systematic approach. An example of one follows:

1. Define the problem. Never conduct research for things that you would ‘like’ to know. Make sure that you really ‘need’ to know something. The problem then becomes the focus of the research. For example, why are sales falling in New Zealand?

2. How will you collect the data that you will analyze to solve your problem? Do we conduct a telephone survey, or do we arrange a focus group? The methods of data collection will be discussed in more detail later.

3. Select a sampling method. Do we us a random sample, stratified sample, or cluster sample?

4. How will we analyze any data collected? What software will we use? What degree of accuracy is required?

5. Decide upon a budget and a timeframe.

6. Go back and speak to the managers or clients requesting the research. Make sure that you agree on the problem! If you gain approval, then move on to step seven. 7. Go ahead and collect the data .

8. Conduct the analysis of the data .

9. Check for errors. It is not uncommon to find errors in sampling, data collection method, or analytic mistakes.

10. Write your final report. This will contain charts, tables, and diagrams that will communicate the results of the research, and hopefully lead to a solution to your problem. Watch out for errors in interpretation.

Sources of Data – Primary and Secondary

There are two main sources of data – primary and secondary . primary research is conducted from scratch. It is original and collected to solve the problem in hand. secondary research , also known as desk research, already exists since it has been collected for other purposes.

We have given a general introduction to marketing research. Marketing research is a huge topic area and has many processes, procedures, and terminologies that build upon the points above. (See also lesson on primary marketing research and secondary marketing research ).

"Marketing research is the function that links the consumer, customer , and public to the marketer through information – information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process . Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process , analyzes, and communicates the findings and their implications." American Marketing Association (AMA) – Official Definition of Marketing Research

How do the professionals do marketing research?

Obviously, this is a very long and involved definition of marketing research.

"Marketing research is about researching the whole of a company’s marketing process ." Palmer (2000).

This explanation is far more straightforward i.e. marketing research into the elements of the marketing mix, competitors, markets, and everything to do with the customers.

Instructor Resources (available with login)

Powerpoints.

This course includes PowerPoint slide decks organized by module and aligned to course content.

Since the slides are openly licensed, you are welcome to retain, reuse, revise, remix, and redistribute them. They are also accessible. If you do revise them, make sure to follow these guidelines for creating accessible PowerPoints .

Use the links below to download the individual decks:

• Module 1: What Is Marketing?
• Module 2: Marketing Function
• Module 3: Segmentation and Targeting
• Module 4: Marketing Strategy
• Module 5: Ethics and Social Responsibility
• Module 6: Marketing Information and Research
• Module 7: Consumer Behavior
• Module 8: Positioning
• Module 9: Branding
• Module 10: Product Marketing
• Module 11: Pricing Strategies
• Module 12: Place: Distribution Channels
• Module 13: Promotion: Integrated Marketing Communication (IMC)
• Module 14: Marketing Globally
• Module 15: Marketing Plan
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• Projector Screen. Authored by : Denis Shumaylov. Provided by : Noun Project. Located at : https://thenounproject.com/term/projector-screen/1211212/ . License : CC BY: Attribution

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Introduction to Market Research

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Introduction to Marketing Research

Mar 11, 2019

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Introduction to Marketing Research. “It ain’t the things we don’t know that gets us in trouble. It’s the things we know that ain’t so.” Artemus Ward. Marketing Research Defined. The systematic and objective process of generating information for aid in making marketing decisions.

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Introduction toMarketing Research

“It ain’t the things we don’t know that gets us in trouble. It’s the things we know that ain’t so.” Artemus Ward

Marketing Research Defined The systematic and objective process of generating information for aid in making marketing decisions

The Marketing Research Process • Problem Definition • Exploratory Research? • Mgmt & Research Questions, Hypotheses • Planning the Research Design • Methodology • Questionnaire Design • Planning the Sample • Fieldwork • Prepare & Analyze the Data • Prepare & Present the Report

Marketing Research Types Basic research Applied research

Basic Research • Attempts to expand the limits of knowledge • Not directly involved in the solution to a pragmatic problem

Basic Research Example • Do consumers experience cognitive dissonance in low-involvement situations?

Applied Research • Conducted when a decision must be made about a specific real-life problem

Applied Research Example • Should Procter & Gamble add a high-priced home teeth bleaching kit to its product line? • Research showed Crest Whitestrips would sell well at a retail price of $44

Scientific Method • The analysis and interpretation of empirical evidence (facts from observation or experimentation) to confirm or disprove prior conceptions

Scientific Method Prior Knowledge Observation Hypotheses Hypotheses Test Conclusion (New Knowledge)

Using Marketing Research • We can use Marketing Research to: • Identify & Evaluate Opportunities • Analyze Market Segments • Select Target Markets • Plan & Implement Marketing Mixes • Analyze Marketing Performance • Performance Monitoring Research

Identifying and Evaluating Opportunities Examples • Mattel Toys investigates desires for play experiences • Home cooking is on the decline. Purchase of precooked home replacement meals is on the rise.

Analyze Market Segments and Select Target Markets Examples • Cadillac investigates buyers’ demographic characteristics • Sears learns women, age 25-54 with average household income of $38,000, are core customers

Plan and Implement a Marketing Mix • Price: • Safeway does a competitive pricing analysis • Distribution: • Caterpillar Tractor Co. investigates dealer service program. • Product: • Oreo conducts taste test, Oreo cookie vs. Chips Ahoy • Promotion: • How many consumers recall the “Life Tastes Good. Coca Cola!” slogan?

Analyze Marketing Performance • This year’s market share is compared to last year’s. • Did brand image change after new advertising?

Performance-monitoring Research • Research that regularly provides feedback for evaluation and control • Indicates things are or are not going as planned • Research may be required to explain why something “went wrong”

Determining When to Conduct Marketing Research • Time constraints • Availability of data • Nature of the decision • Benefits versus costs

Determining When to Conduct Marketing Research Time Constraints Availability of Data Nature of the Decision Benefits vs. Costs Is sufficient time available? Information already on hand inadequate? Is the decision of strategic or tactical importance? Does the information value exceed the research cost? Conduct Marketing Research Yes Yes Yes Yes No No No No Do Not Conduct Marketing Research

Potential Value of a Marketing Research Effort Should Exceed Its Estimated Costs • Research expenditures • Delay of marketing decision and possible disclosure of information to rivals • Possible erroneous research results • Decreased uncertainty • Increased likelihood of correct decision • Improved marketing performance and resulting higher profits Costs Value

ALWAYS Remember • Marketing Research is a tool. • It assists marketing managers in their decision making. • IT IS NOT A REPLACEMENT FOR MANAGERIAL JUDGEMENT!!

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