marketing information system and marketing research ppt

BUS203: Principles of Marketing

Marketing Research and Market Intelligence

Read this chapter. The American Marketing Association defines marketing research this way: "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, and analyzes and communicates the findings and their implications".

Marketing Information Systems

Learning objectives.

• Describe the components of a marketing information system and each component's purpose.
• Explain the situations in which marketing research should be used versus market intelligence.
• Describe the limitations of market intelligence and its ethical boundaries.
• Explain when marketing research should and should not be used.

A certain amount of marketing information is being gathered all the time by companies as they engage in their daily operations. When a sale is made and recorded, this is marketing information that's being gathered. When a sales representative records the shipping preferences of a customer in a firm's customer relationship management (CRM) system, this is also marketing information that's being collected. When a firm gets a customer complaint and records it, this too is information that should be put to use. All this data can be used to generate consumer insight. However, truly understanding customers involves not just collecting quantitative data (numbers) related to them but qualitative data, such as comments about what they think.

Interview with Joy Mead http://app.wistia.com/embed/medias/c89771530a Recall  that Joy Mead is an associate director of marketing with Procter & Gamble. Listen to this clip to hear Mead talk about the research techniques and methods Procter & Gamble uses to develop consumer insight. You will learn that the company isn't just interested in what consumers want now but also years in the future. The trick is integrating all the information you collect so it can be used by as many people as possible in your organization to make good decisions. Unfortunately, in many organizations, information isn't shared very well among departments. Even within departments, it can be a problem. For example, one group in a marketing department might research a problem related to a brand, uncover certain findings that would be useful to other brand managers, but never communicate them. A marketing information system (MIS) is a way to manage the vast amount of information firms have on hand - information marketing professionals and managers need to make good decisions. Marketing information systems range from paper-based systems to very sophisticated computer systems. Ideally, however, a marketing information system should include the following components:

• A system for recording internally generated data and reports
• A system for collecting market intelligence on an ongoing basis
• Marketing analytics software to help managers with their decision making
• A system for recording marketing research information

Internally Generated Data and Reports

As we explained, an organization generates and records a lot of information as part of its daily business operations, including sales and accounting data, and data on inventory levels, back orders, customer returns, and complaints. Firms are also constantly gathering information related to their Web sites, such as clickstream data. Clickstream data is data generated about the number of people who visit a Web site and its various pages, how long they dwell there, and what they buy or don't buy. Companies use clickstream data in all kinds of ways. They use it to monitor the overall traffic of visitors that a site gets, to see which areas of the site people aren't visiting and explore why, and to automatically offer visitors products and promotions by virtue of their browsing patterns. Software can be used to automatically tally the vast amounts of clickstream data gathered from Web sites and generate reports for managers based on that information. Netflix recently awarded a $1 million prize to a group of scientists to plow through Web data generated by millions of Netflix users so as to improve Netflix's predictions of what users would like to rent. Being able to access clickstream data and other internally generated information quickly can give a company's decision makers a competitive edge. Remember our discussion about how Walmart got a leg up on Target after 9/11? Walmart's inventory information was updated by the minute (the retailer's huge computing center rivals the Pentagon's, incidentally); Target's was only updated daily. When Walmart's managers noticed American flags began selling rapidly immediately following the terrorist attacks on 9/11, the company quickly ordered as many flags as possible from various vendors - leaving none for Target. Click on the following link to watch a fascinating documentary about how Walmart, the world's most powerful retailer, operates: http://www.hulu.com/watch/103756/cnbc-originals-the-new-age -of-walmart. Many companies make a certain amount of internal data available to their employees, managers, vendors, and trusted partners via intranets. An intranet looks like the Web and operates like it, but only an organization's employees have access to the information. So, for example, instead of a brand manager asking someone in accounting to run a report on the sales of a particular product, the brand manager could look on her firm's intranet for the information. However, big companies with multiple products, business units, and databases purchased and installed in different places and at different times often have such vast amounts of information that they can't post it all on an intranet. Consequently, getting hold of the right information can be hard. The information could be right under your nose and you might not know it. Meet people like Gary Pool: Pool works for BNSF Railway and is one of BNSF's "go-to" employees when it comes to gathering marketing data. Pool knows how to access different databases and write computer programs to extract the right information from the right places at BNSF, a process known as data mining. Combining data into one location is called data warehousing, and makes Pool's analysis easier. He then captures the information and displays it in dashboards, screens on the computer that make the data easily understood so that managers can detect marketing trends. While a dashboard may display a piece of information, such as the number of carloads sold in West Virginia, the manager can click on the number and get more detail. Figure 10.2

Gary Pool is an expert at data mining - hunting up information for decision makers at BNSF Railway. And no, he doesn't wear a headlamp. Nor does he wear a pocket protector! Pool's title: Manager, Marketing Systems Support & Marketing Decision Support & Planning.

Analytics Software

Increasingly, companies are purchasing analytics software to help them pull and make sense of internally generated information. Analytics software allows managers who are not computer experts to gather all kinds of different information from a company's databases - information not produced in reports regularly generated by the company. The software incorporates regression models, linear programming, and other statistical methods to help managers answer "what if" types of questions. For example, "If we spend 10 percent more of our advertising on TV ads instead of magazine ads, what effect will it have on sales?" Oracle Corporation's Crystal Ball is one brand of analytical software. The camping, hunting, fishing, and hiking retailer Cabela's has managed to refine its marketing efforts considerably using analytics software developed by the software maker SAS. "Our statisticians in the past spent 75 percent of their time just trying to manage data. Now they have more time for analyzing the data with SAS, and we have become more flexible in the marketplace," says Corey Bergstrom, director of marketing research and analysis for Cabela's. "That is just priceless". The company uses the software to help analyze sales transactions, market research, and demographic data associated with its large database of customers. It combines the information with Web browsing data to gain a better understanding of the individual customers marketing channel preferences as well as other marketing decisions. For example, does the customer prefer Cabela's' one-hundred-page catalogs or the seventeen-hundred-page catalogs? The software has helped Cabela's employees understand these relationships and make high-impact data-driven marketing decisions.

Market Intelligence

A good internal reporting system can tell a manager what happened inside his firm. But what about what's going on outside the firm? What is the business environment like? Are credit-lending terms loose or tight, and how will they affect what you and your customers are able to buy or not buy? How will rising fuel prices and alternate energy sources affect your firm and your products? Do changes such as these present business obstacles or opportunities? Moreover, what are your competitors up to? Not gathering market intelligence leaves a company vulnerable. Remember Encyclopedia Britannica, the market leader in print encyclopedia business for literally centuries? Encyclopedia Britannica didn't see the digital age coming and nearly went out of business as a result. (Suffice it to say, you can now access Encyclopedia Britannica online). By contrast, when fuel prices hit an all-time high in 2008, unlike other passenger airline companies, Southwest Airlines was prepared. Southwest had anticipated the problem, and early on locked in contracts to buy fuel for its planes at much lower prices. Other airlines weren't as prepared and lost money because their fuel expenses skyrocketed. Meanwhile, Southwest Airlines managed to eke out a profit. Collecting market intelligence can also help a company generate ideas or product concepts that can then be tested by conducting market research. Gathering market intelligence involves a number of activities, including scanning newspapers, trade magazines, and economic data produced by the government to find out about trends and what the competition is doing. In big companies, personnel in a firm's marketing department are primarily responsible for their firm's market intelligence and making sure it gets conveyed to decision makers. Some companies subscribe to news service companies that regularly provide them with this information. LexisNexis is one such company. It provides companies with news about business and legal developments that could affect their operations. Other companies subscribe to mystery shopping services, companies that shop a client and/or competitors and report on service practices and service performance. Let's now examine some of the sources of information you can look at to gather market intelligence.

Search Engines and Corporate Web Sites

An obvious way to gain market intelligence is by examining your competitors' Web sites as well as doing basic searches with search engines like Google. If you want to find out what the press is writing about your company, your competitors, or any other topic you're interested in, you can sign up to receive free alerts via e-mail by going to Google Alerts at http://www.google.com/alerts. Suppose you want to monitor what people are saying about you or your company on blogs, the comment areas of Web sites, and social networks such as Facebook and Twitter. You can do so by going to a site like WhosTalkin.com, typing a topic or company name into the search bar, and voilà! All the good (and bad) things people have remarked about the company or topic turn up. What a great way to seek out the shortcomings of your competitors. It's also a good way to spot talent. For example, designers are using search engines like WhosTalkin.com to search the blogs of children and teens who are "fashion forward" and then involve them in designing new products. WhosTalkin.com and Radian6 (a similar company) also provide companies with sentiment analysis. Sentiment analysis is a method of examining content in blogs, tweets, and other online media (other than news media) such as Facebook posts to determine what people are thinking at any given time. Some companies use sentiment analysis to determine how the market is reacting to a new product. The Centers for Disease Control (CDC) uses sentiment analysis to track the progress of flu; as people post or tweet how sick they are, the CDC can determine where the flu is increasing or decreasing. Figure 10.4

Type a company's name (or anything else you want) into the search bar and see what comes up. (Note: It takes a little while for all of the results to show up).

Publications

The Economist, the Wall Street Journal, Forbes, Fortune, BusinessWeek, the McKinsey Report, Sales and Marketing Management, and the Financial Times are good publications to read to learn about general business trends. All of them discuss current trends, regulations, and consumer issues that are relevant for organizations doing business in the domestic and global marketplace. All of the publications are online as well, although you might have to pay a subscription fee to look at some of the content. If your firm is operating in a global market, you might be interested to know that some of these publications have Asian, European, and Middle Eastern editions. Other publications provide information about marketplace trends and activities in specific industries. Consumer Goods and Technology provides information consumer packaged-goods firms want to know. Likewise, Progressive Grocer provides information on issues important to grocery stores. Information Week provides information relevant to people and businesses working in the area of technology. World Trade provides information about issues relevant to organizations shipping and receiving goods from other countries. Innovation: America's Journal of Technology Commercialization provides information about innovative products that are about to hit the marketplace.

Trade Shows and Associations

Trade shows are another way companies learn about what their competitors are doing. (If you are a marketing professional working a trade show for your company, you will want to visit all of your competitors' booths and see what they have to offer relative to what you have to offer). And, of course, every field has a trade association that collects and disseminates information about trends, breakthroughs, new technology, new processes, and challenges in that particular industry. The American Marketing Association, Food Marketing Institute, Outdoor Industry Association, Semiconductor Industry Association, Trade Promotion Management Association, and Travel Industry Association provide their member companies with a wealth of information and often deliver them daily updates on industry happenings via e-mail.

Salespeople

A company's salespeople provide a vital source of market intelligence. Suppose one of your products is selling poorly. Will you initially look to newspapers and magazines to figure out why? Will you consult a trade association? Probably not. You will first want to talk to your firm's salespeople to get their "take" on the problem. Salespeople are the eyes and ears of their organizations. Perhaps more than anyone else, they know how products are faring in the marketplace, what the competition is doing, and what customers are looking for. A system for recording this information is crucial, which explains why so many companies have invested in customer relationship management (CRM) systems. Some companies circulate lists so their employees have a better idea of the market intelligence they might be looking for. Textbook publishers are an example. They let their sales representatives know the types of books they want to publish and encourage their representatives to look for good potential textbook authors among the professors they sell to.

Suppliers and Industry Experts

Your suppliers can provide you with a wealth of information. Good suppliers know which companies are moving a lot of inventory. And oftentimes they have an idea why. In many instances, they will tell you, if the information you're looking for is general enough so they don't have to divulge any information that's confidential or that would be unethical to reveal - an issue we'll talk more about later in the book. Befriending an expert in your industry, along with business journalists and writers, can be helpful, too. Often these people are "in the know" because they get invited to review products.

Lastly, when it comes to market intelligence don't neglect observing how customers are behaving. They can provide many clues, some of which you will be challenged to respond to. For example, during the latest economic downturn, many wholesalers and retailers noticed consumers began buying smaller amounts of goods - just what they needed to get by during the week. Seeing this trend, and realizing that they couldn't pass along higher costs to customers (because of, say, higher fuel prices), a number of consumer-goods manufacturers "shrank" their products slightly rather than raise prices. You have perhaps noticed that some of the products you buy got smaller - but not cheaper.

Can Market Intelligence Be Taken Too Far?

Can market intelligence be taken too far? The answer is yes. In 2001, Procter & Gamble admitted it had engaged in "dumpster diving" by sifting through a competitors' garbage to find out about its hair care products. Although the practice isn't necessarily illegal, it cast P&G in a negative light. Likewise, British Airways received a lot of negative press in the 1990s after it came to light that the company had hacked into Virgin Atlantic Airways' computer system". Gathering corporate information illegally or unethically is referred to as industrial espionage. Industrial espionage is not uncommon. Sometimes companies hire professional spies to gather information about their competitors and their trade secrets or even bug their phones. Former and current employees can also reveal a company's trade secret either deliberately or unwittingly. Microsoft recently sued a former employee it believed had divulged trade secrets to its competitors". It's been reported that for years professional spies bugged Air France's first-class seats to listen in on executives' conversations.

Spying at Work - Espionage: Who, How, Why, and How to Stop It

To learn more about the hazards of industrial espionage and how it's done, check out this YouTube video. To develop standards of conduct and create respect for marketing professionals who gather market intelligence, the Society of Competitive Intelligence Professionals has developed a code of ethics. It is as follows:

• To continually strive to increase the recognition and respect of the profession.
• To comply with all applicable laws, domestic and international.
• To accurately disclose all relevant information, including one's identity and organization, prior to all interviews.
• To avoid conflicts of interest in fulfilling one's duties.
• To provide honest and realistic recommendations and conclusions in the execution of one's duties.
• To promote this code of ethics within one's company, with third-party contractors and within the entire profession.
• To faithfully adhere to and abide by one's company policies, objectives and guidelines".

Marketing Research

Marketing research is what a company has to resort to if it can't answer a question by using any of the types of information we have discussed so far - market intelligence, internal company data, or analytics software applied to data. As we have explained, marketing research is generally used to answer specific questions. The name you should give your new product is an example. Unless your company has previously done some specific research on product names - what consumers think of them, good or bad - you're probably not going to find the answer to that question in your internal company data. Also, unlike internal data, which is generated on a regular basis, marketing research is not ongoing. Marketing research is done on an as-needed or project basis. If an organization decides that it needs to conduct marketing research, it can either conduct marketing research itself or hire a marketing research firm to do it. So when exactly is marketing research needed? Keep in mind marketing research can be expensive. You therefore have to weigh the costs of the research against the benefits. What questions will the research answer, and will knowing the answer result in the firm earning or saving more money than the research costs? Marketing research can also take time. If a quick decision is needed for a pressing problem, it might not be possible to do the research. Lastly, sometimes the answer is obvious, so there is no point in conducting the research. If one of your competitors comes up with a new offering and consumers are clamoring to get it, you certainly don't need to undertake a research study to see if such a product would survive in the marketplace. Alex J. Caffarini, the president and founder of the marketing research firm Analysights, believes there are a number of other reasons companies mistakenly do marketing research. Caffarini's explanations (shown in parentheses) about why a company's executives sometimes make bad decisions are somewhat humorous. Read through them:

• "We've always done this research". (The research has taken on a life of its own; this particular project has continued for years and nobody questioned whether it was still relevant).
• "Everyone's doing this research". (Their competitors are doing it, and they're afraid they'll lose competitive advantage if they don't; yet no one asks what value the research is creating).
• "The findings are nice to know". (Great - spend a lot of money to create a wealth of useless information. If the information is nice to know, but you can't do anything with it, you're wasting money).
• "If our strategy fails, having done the research will show that we made our best educated guess". (They're covering their butts. If things go wrong, they can blame the findings, or the researcher).
• "We need to study the problem thoroughly before we decide on a course of action". (They're afraid of making a tough decision. Conducting marketing research is a good way to delay the inevitable. In the meantime, the problem gets bigger, or the window of opportunity closes).
• "The research will show that our latest ad campaign was effective". (They're using marketing research to justify past decisions. Rarely should marketing research be done after the fact).

Is Marketing Research Always Correct?

To be sure, marketing research can help companies avoid making mistakes. Take Tim Hortons, a popular coffee chain in Canada, which has been expanding in the United States and internationally. Hortons recently opened some self-serve kiosks in Ireland, but the service was a flop. Why? Because cars in Ireland don't have cup holders. Would marketing research have helped? Probably. So would a little bit of market intelligence. It would have been easy for an observer to see that trying to drive a car and hold a cup of hot coffee at the same time is difficult. That said, we don't want to leave you with the idea that marketing research is infallible. As we indicated at the beginning of the chapter, the process isn't foolproof. In fact, marketing research studies have rejected a lot of good ideas. The idea for telephone answering machines was initially rejected following marketing research. So was the hit sitcom Seinfeld, a show that in 2002 TV Guide named the number-one television program of all time. Even the best companies, like Coca-Cola, have made mistakes in marketing research that have led to huge flops. In the next section of this chapter, we'll discuss the steps related to conducting marketing research. As you will learn, many things can go wrong along the way that can affect the results of research and the conclusions drawn from it.

Market research presentation: A comprehensive guide

This comprehensive guide covers everything from choosing the right topic to delivering with confidence.

Raja Bothra

Building presentations

Ever wondered what goes into creating a killer market research presentation that not only impresses your stakeholders but also provides valuable insights?

You're in the right place.

In this comprehensive guide, we'll dive deep into the world of market research presentations, dissecting everything from what they are to how to create one that stands out.

How do you explain market research?

Before we jump into the nitty-gritty of market research presentations, let's start with the basics – what is market research?

Market research is the process of gathering, analyzing, and interpreting data about a particular market, industry, or consumer group. It's the compass that guides businesses in making informed decisions.

Market research comes in various forms: quantitative and qualitative. Quantitative research involves collecting numerical data, while qualitative research focuses on understanding the why and how behind consumer behavior. Both are crucial components of effective market research.

What is a market research presentation?

Now that we have a clear understanding of market research, let's move on to market research presentations. A market research presentation is the culmination of your research efforts, a visual and data-driven representation of your findings. It's the bridge that connects your research to your stakeholders, making it easier for them to grasp the insights you've gathered.

A well-crafted market research presentation is not just a collection of slides; it's a storytelling platform. It should engage your audience, present data in an understandable manner, and ultimately guide your stakeholders towards informed decision-making.

What to include in a market research presentation?

Creating a market research presentation involves more than just inserting a few charts and graphs. To ensure your presentation hits the mark, here are some essential elements to include:

1. Market research overview

• Define the purpose and objectives of your research.
• Provide a brief overview of the market you've studied.

2. Methodology

• Explain how you conducted your research, whether through surveys, data analysis, or other methods.
• Discuss any challenges you faced and how you overcame them.

3. Key findings

• Highlight the most significant discoveries from your research.
• Use charts, graphs, and infographics to visualize data.

4. Market analysis

• Dive deep into your market analysis, discussing trends, competition, and market share.
• Share insights that can impact the business.

5. Recommendations

• Based on your findings, provide actionable recommendations.
• Discuss the pros and cons of each recommendation.

6. Conclusion

• Summarize the core points of your presentation.
• Emphasize the key takeaways for your audience.

How to structure a market research presentation

Structuring a market research presentation effectively is essential to convey your findings and insights clearly to your audience. Whether you're presenting to stakeholders, colleagues, or clients, a well-structured presentation can make your data more understandable and impactful. Here's a suggested structure for a market research presentation:

1. Title slide

• Title of the Presentation
• Your Name and Affiliation
• Date of the Presentation
• Briefly outline what you will cover in the presentation. This gives your audience a roadmap of what to expect.

3. Introduction

• Provide a brief overview of the purpose and context of your market research.
• Explain why the research was conducted and its relevance.

4. Background and objectives

• Describe the background information, including any relevant industry trends or developments.
• Clearly state the research objectives and what you aimed to achieve.

5. Methodology

• Explain the research methods and techniques used.
• Discuss the data collection process, sample size, and any limitations.

6. Data collection

• Present the findings from your research.
• Use charts, graphs, and visuals to make data more accessible.
• Highlight key insights and trends.

7. Analysis and interpretation

• Explain the significance of the findings.
• Interpret the data and provide insights.
• Address any unexpected or interesting observations.

8. Competitor analysis

• Analyze the competitive landscape in your market.
• Highlight strengths, weaknesses, opportunities, and threats (SWOT analysis) for your company and competitors.

9. Consumer insights

• Share any insights into customer preferences, needs, and behaviors.
• Explain how these insights impact your business.

10. Recommendations

• Based on your research, provide actionable recommendations.
• Highlight strategies or changes that should be implemented.

11. Implementation plan

• If applicable, outline a plan for implementing the recommendations.
• Include timelines, responsibilities, and resources needed.

12. Conclusion

• Summarize the key points of your presentation.
• Reiterate the importance of the research.

13. Q&A session

• Open the floor for questions and discussion.

14. Appendix

• Include any supplementary information, detailed data, or additional charts and graphs.
• Ensure that this information is easily accessible but not essential for understanding the main presentation.

15. Contact information

• Provide your contact information in case the audience has further questions or needs clarification.

16. Thank you slide

• Express your gratitude for the audience's time and attention.

Remember to keep your presentation clear, concise, and visually engaging. Use visuals sparingly but effectively to support your points. Practice your delivery to ensure that you can explain the findings and recommendations confidently. Tailor the presentation to the needs and interests of your specific audience.

Do’s and don'ts on a market research presentation

To ensure your market research presentation hits the mark, here are some do's and don'ts to keep in mind:

• Do your research: Know your subject matter inside out.
• Do use visuals: Incorporate charts, graphs, and infographics.
• Do engage your audience: Encourage questions and discussions.
• Do practice: Rehearse your presentation until you're confident.

Don'ts:

• Don't overwhelm with data: Keep it concise and focused.
• Don't read slides: Speak naturally and use slides as visual aids.
• Don't rush: Take your time; clarity is key.
• Don't ignore questions: Address all queries from your audience.

Summarizing key takeaways

In this comprehensive guide, we've covered the ins and outs of creating and presenting a market research presentation. From understanding the basics of market research to crafting engaging presentations, you now have the knowledge to excel in this essential aspect of business strategy.

• Market research essentials: Market research is the process of gathering, analyzing, and interpreting data about a specific market, industry, or consumer group. It provides the foundation for informed decision-making in business.
• The role of market research presentations: A market research presentation is a visual and data-driven representation of research findings. It serves as a bridge between your research and stakeholders, helping them understand and act upon the insights you've gathered.
• Elements of a great presentation: A well-crafted market research presentation includes an overview, methodology, key findings, market analysis, recommendations, and a concise conclusion. These elements help structure your presentation effectively.
• Presentation delivery matters: Knowing your audience, practicing your presentation, engaging your audience, using visuals effectively, and being concise are all crucial for a successful presentation.
• Do's and don'ts: Do your research thoroughly, use visuals to enhance understanding, engage with your audience, and practice your delivery. Avoid overwhelming with data, reading slides, rushing through your presentation, and ignoring audience questions.

Remember, an effective market research presentation isn't just about showcasing data; it's about telling a compelling story that guides decision-making. So, use the power of visuals, engage your audience, and deliver insights that make a real impact.

1. Why is using a market research presentation template important?

Using a market research presentation template can streamline your research process. It provides a structured framework in powerpoint ppt with graphs and charts that help you present the results effectively. You can easily download a market research presentation template to make your presentation look professional and save time in creating a presentation design.

2. How can I effectively communicate market trends in my presentation?

To effectively communicate market trends in your presentation, start your presentation by explaining the research process and how you conducted market research. Use market research powerpoint (ppt) slides with graphs and charts to show key pieces of information. Connect the dots between the data and present the results using the market research PowerPoint template. This will make your presentation more engaging for your audience.

3. Why is market research essential for launching a new product or service?

Market research is essential when you want to present a new product or service idea to your core business audience. By conducting market research, you gather valuable insights about your target market, which can be used to create your presentation. A well-designed research ppt can make the best case for your business idea by showcasing the market trends and data you've collected.

4. How do I use market research to make my presentation more impactful?

To make your presentation more impactful, start by using a market research presentation template. Incorporate graphs and charts to present the research data effectively. Make sure your presenter skills are polished when presenting your research to stakeholders or investors. Use market research PowerPoint slides to show key findings and connect the dots between the research process and the business objectives you want to achieve.

5. Can you provide tips on how to present the results of my market research effectively?

Certainly! When presenting your research, use a market research PowerPoint template to organize your content. Download a template that suits your needs. Focus on the research design and how you conducted market research, talking to customers and gathering data. Use the template to create your presentation and ensure it flows smoothly. This will help you present the results in a way that engages your audience and conveys the importance of the research in supporting your business goals.

Create your market research presentation with prezent

Ready to create your market research presentation? Don't forget to leverage the right tools. Consider using Prezent, the business success communication platform for enterprise teams, offers a powerful solution for crafting market research presentations that elevate your business's communication. With our AI presentation tool, you can achieve full brand compliance and create personalized, on-brand presentations tailored to the preferences of your audience.

Key Features:

• Personalized fingerprints : Prezent allows you to customize your presentations based on audience preferences, ensuring that your message resonates effectively.
• Presentation builder : Our platform provides a user-friendly presentation builder that simplifies the process of creating compelling market research presentations.
• Business storytelling : Access guides and e-courses to master structured storytelling, with 50+ storylines commonly used by business leaders.
• Brand-approved design : Ensure brand consistency with our document management system, which offers over 35,000 slides in your company's approved design.
• Supercharge your team's communication : Prezent saves you 70% of the time required to make presentations, allowing you to crush 60% of communication costs by replacing expensive agencies with our software and services.
• Enterprise-grade security : Rest assured that your data is secure with our top-priority commitment to data protection and independent third-party assurance.

For a personal touch and additional support, explore our professional services, including overnight services and presentation specialists. Submit your presentation by 5:30 PM PST, and by 9:30 AM the next business day presentation is delivered in your inbox.

With Prezent, you can create market research presentations that not only impress but also deliver your message effectively, all while staying 100% on brand and reducing communication costs.

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Conducting insightful market research and creating a compelling presentation

If you’re interested in introducing a new product or service to consumers, you must be sure they need it and would want to purchase it. That is why you should conduct market research and design it into attractive market research slides to have an idea in advance of customer acceptance of that product to avoid as many risks of market unacceptance as possible.

Choosing presentation design service is the first step to avoiding risks because sheets of data will not impress anyone but colorful pie charts will.

What is Market Research Presentation?

Marketing research is a system of identifying and analyzing information related to the techniques and problems of marketing.

As an important part of the marketing function, market research has to be properly conducted and used regularly to get all the answers you need. The research is just as valuable to the manufacturer as its further market research ppt to present to managers and teams . Logical enough, if you create an unnecessary product with an unattractive presentation, few stakeholders will approve it, and few people will buy the product. Thus, your business idea will eventually fail.

Market research includes all research activities involved in marketing problems:

• Gathering information.
• Recording information.
• Analyzing information.

Sources of information on markets:

• Published statistics.
• Government agency.
• Trade associations.
• Other consultants.

Why Address Market Research Slide Deck?

The marketing research deck provides the next benefits:

• Effective sales forecasting with attractive graphs.
• Continued business vitality.
• The soundness of marketing decisions.
• Transparency on how much, where, to whom, and how to sell.

Additionally, a comprehensive market research deck helps to design sales analysis through recorded data. It can be even done in the company’s own office to set up sales records and yield data. As you see, there are no disadvantages to market analysis presentations, and it is a wholesome instrument to analyze your company and predict its prospects in beautiful tables and slides.

Check this material if you struggle with composing an effective sales plan and its analysis.

How to Design a Market Research PowerPoint Plan?

The scope of typical marketing research includes following the next steps:

• Measure market potential.
• Determine market characteristics.
• Analyze market share.
• Study competitive products.
• Make short and long-range forecasting.
• Discover business trends.
• Study advertisement effectiveness.
• Analyze pricing.
• Investigate plant and warehouse.
• Explore distribution channels.

How to Conduct Market Research?

Let’s discuss the exact steps involved in conducting effective market research.

Step 1: Define the problem

When posing questions, researchers will benefit from having a well-defined area of study. These inquiries need to be problem-solving in nature and customized for the project. The study objectives should also be clearly stated and briefly define the information that is required and how it might be acquired. The question of “why are we performing this research?” must eventually have an insightful response.

Step 2: Define the sample

The researcher needs a representative sample to conduct market research. A sample is a small group of individuals who serve as an accurate representation of a larger group. Obviously, a company cannot squander resources by gathering data from the incorrect demographic.

There are two techniques to obtain the sample:

• Probability sampling: it ensures that every member of the population will have the same chance of being chosen and included in the sample group because the sample will be chosen at random.
• Non-probability sampling: a variety of people are attempting to obtain a more representative sample that is more evenly distributed. Understanding the demographics of your group will surely help in limiting the target sample’s profile and defining interesting variables (gender, age, place of residence, etc.).

Step 3: Execute data collection

First, a data collection instrument should be developed. Indeed, not answering the survey or answering it incompletely will cause errors in research and further results.

Step 4: Analyze the results

If all the above is executed well, but there is no accurate result analysis, the consequent decisions will not be appropriately made. Meanwhile, in-depth analysis will be insightful and effective in making vital solutions. Data analysis has to be noted in a clearly written report.

Step 5: Make the research report

When presenting market research presentation slides with results, researchers should focus on what they want to achieve using these results. Bright graphs and charts are worth little if they answer no valuable business question.

To make a prominent report slide deck, consider these pieces of advice from expert analysts and presenters:

• Use storytelling: start with your conclusions and give fundamentals instead of accumulating evidence.
• Be flexible: order of questions in your questionnaire should not determine the order of outcomes in the presentation.
• Restructure data: you could discover new and more valuable information.
• Take decisions: act and implement!

And remember, every observer should be able to extract something from your report so that it becomes relevant to their field of work.

How to Design Market Research in PowerPoint?

The typical structure of a market research presentation includes the following set of slides:

• Title slide.
• Objectives.
• SWOT analysis.
• Intended outcomes.
• Target demographics.
• Data collection.

We would like to give you more options for marketing research presentation structures, and you pick the one that suits your specific request. We will not include the title, conclusion, and other slides so that you focus on the presentation’s main body.

Disclaimer: you are welcome to adjust, alter, and suit the next examples per your requirements.

Presentation Structure #1: Desk Research

• Sales analysis slide(s). – Past sales. – Fluctuations in sales & promotional expenditure. – Economics of order size.
• Correlation studies slide(s) (concerned with finding the relationship between two or more variables).
• Ratios slide(s). – Stock-turn (relation between sales and stocks). – Profit per capita.

Presentation Structure #2: Postal Questionnaire

• Questions slide(s). – Short. – Specific. – Statistical. – Open-minded.
• Answers slide(s).
• “So what?” slide(s).

Presentation Structure #3: Statistical Method

• Pre-collected data slide(s). – Bar charts. – Histograms. – Frequency polygons. – Frequency distribution curves.
• Sample size slide(s).
• Testing hypothesis slide(s).
• Data interpretation slide(s).

Marketing and sales are interconnected things. While the first is a more abstract notion, the second is based on exact numbers. And managing those numbers is a responsible task that must be based on solid market research. Collecting, analyzing, and interpreting data is what market research is. And every company needs plenty of them to make more informed decisions.

If you struggle with designing the obtained numbers into attractive charts and graphs, make sure to contact our presentation design services and get an animated interpretation of your data.

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Marketing Research and Information Systems

Sep 20, 2014

190 likes | 421 Views

Marketing Research and Information Systems. Marketing Research. ‘the systematic gathering, recording and analysing of data about problems relating to the marketing of goods and services’ American Marketing Association. Marketing Research. Early warning signal

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• marketing research
• data analysis
• data collection
• marketing research process
• primary data collected firsthand

Presentation Transcript

Marketing Research ‘the systematic gathering, recording and analysing of data about problems relating to the marketing of goods and services’ American Marketing Association

Marketing Research Early warning signal existing MIS may not show trend if outside target segment. Source of detailed information on specific problems Forecast the future …….what happens if we do this?

The Marketing Research Process Set objectives Define research Problem Assess the value of the research Construct a research proposal Specify data collection method Specify techniques of measurement Select the sample Data collection Analysis of results Present in a final report

Terminology of Marketing Research • Primary data - collected firsthand • Secondary data - already exists, desk research • Quantitative research - statistical basis • Qualitative research - subjective and personal • sampling - studying part of a ‘population’ to learn about the whole

Marketing ResearchProcess Problem Identification Symptoms versus Problems Marketing Concept Secondary Data Analysis Fast, Flexible, and Cheap Does the data exist somewhere?

Marketing Research Techniques • Interviews • face-to-face • telephone • postal questionnaire • Attitude measurement • cognitive component (know/believe about an act/object) • affective component (feel about an act/object) • conative component (behave towards an object or act)

Likert scale • strongly agree • agree • neither agree nor disagree • disagree • strongly disagree • Semantic differential scales-differences between words e.g. practical v impractical • Projective techniques • sentence completion • psychodrama (yourself as a product) • friendly martian (what someone else might do)

Group discussion and focus group • Postal research questionnaires • Diary panels - sources of continuous data • In-home scanning - hand-held light pen to scan barcodes • Telephone research • Observation • home audit • direct observation • In-store testing

Research Design Data Collection mail telephone personal interview observation email ……..advantages and disadvantages

Questionnaire Design Wording Cultural Bias Sequencing of Questions Question Structure

Sampling Nonprobability Probability Sample Size Determination

Validity and Reliability Did you measure what you intended to measure? Can you do it again?

Data Analysis What does the data mean? How can it be used? How can it be communicated to management? How does it solve the management problem?

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Marketing Information System

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