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Marketing Research: Marketing Research: It’s Everywhere!

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Presentation on theme: "Marketing Research: Marketing Research: It’s Everywhere!"— Presentation transcript:

1 Marketing Research: Marketing Research: It’s Everywhere!

2 target market product price place promotion Marketing Management and the Infamous 4 Ps...

3 Role of Marketing Research in Decision Making Customer/Society Strategic Marketing Plan: Organizational Resources,Objectives,Marketing Strategy, Implementation and Control Marketing Research informs Marketing Strategy/Marketing Mix Product-Price-Promotion-Distribution influences

4 Definition of Marketing Research Marketing research is the “function which 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.”

5 Figure 3: Where the Marketing Research Dollars are Concentrated Source: Inside Research, “Where the Money Is,” American Demographics (www.demographics.com).

6 Figure 5, continued Source: “Marketing Fact Book,” Marketing News (July 7, 2003).

7 RESEARCH REALITIES 2: TOP 20 GLOBAL RESEARCH ORGANIZATIONS Source: Honomichl Top 50 Annual Business Report on the Marketing Research Industry, Marketing News (June 9, 2003), Chicago: American Marketing Association.

8 e-Bay: Listening to Customers Vision: To help practically anyone trade practically anything on earth To achieve the vision, e-Bay: – Blends marketing research with its overall business strategy – Forms voice of the customer group to keep itself informed about the needs and preferences of its customers – Creates Feedback Forum for users to give each other ratings for each transaction

9 T.G.I.Friday’s: Using Marketing Research to Identify New Opportunities How the Research Was Conducted: – Formal interviews with parents and children – Observation of young customers’ likes and wants Research Showed – Young customers want something beyond ordinary drinks – T.G.I Friday’s created special kids’ drinks like Banana Kong

10 Marketing Research to Track Product Performance and Customer Satisfaction of Products and Services Research Showed – Consumers wanted abundance of toppings Marketing research led to revamping of pizza toppings

11 Developing and Implementing Marketing Strategies Develop an effective Marketing Mix PricePlace ProductPromotion

12 Principles of Marketing Research Principle #1: – Attend to the timeliness and relevance of research Principle #2: – Define research objectives carefully and clearly Principle #3: – Do not conduct research to support decisions already made

13 Principle # 1: Attend to the Timeliness and Relevance of Research Ariel High Suds Launch LOW SALES RATES Marketing Research Lag Time

14 Research and Decision Making P&G’s Ariel High Suds – Research-related decisions--the timing of the research studies prior to launch Decision to forgo additional research to understand the impact of changed economic conditions – contributed to the initial lackluster performance of the product

15 Principle # 2: Define Research Objectives Carefully and Clearly Coca Cola tested New Coke against Coke Classic They didn’t account for consumer reaction to lack of choice between the two! End Result: New Coke failed

16 Principle # 3:Do Not Conduct Research to Support Decisions Already Made Indianized Yogurt: – Decision was made to produce yogurt – Yogurt plant was constructed – Marketing research determined there was only a very small market – Product failed in the marketplace Nestlé's Dahi is a recent entrant in the yogurt market

17 Classification of Marketing Research Basic Research : to generate or create knowledge – Journal of Marketing articles Applied research – To solve a problem – To develop strategies for products and services

18 How Do You Recruit a Nun? Marketing Research Comes to the Rescue St.Benedictine Convent: – Majority of Sisters 70+ years – Inability to attract new recruits Conducted Focus Groups: – To determine why they were not able to recruit young members – Research showed people perceived nuns to have a dull existence Launched New Ad campaign Recruited an average of three nuns a year

19 In-house Marketing Research Formal Marketing Department – Centralized: one marketing department for all product lines – Decentralized: separate marketing departments for individual product lines – Hybrid : combination of centralized and decentralized

20 Exhibit 1.4 Illustrative Centralized Marketing Research Function in a Multibrand Company Corporate Marketing Research Department Responsibilities include: Designing Studies Constructing Questionnaires Selecting Samples Collecting Data Analyzing Data Preparing Reports Choosing External Research Providers Corporate Marketing Department Marketing of Brand A Marketing of Brand B Marketing of Brand C Research Reports Research Requests

21 Corporate Marketing Department Marketing of Brand A Marketing of Brand B Marketing of Brand C Requests Reports Requests Reports Requests Reports Marketing Research Department for Brand A Responsibilities Include: Designing Studies Constructing Questionnaires Selecting Samples Collecting Data Analyzing Data Preparing Reports Choosing External Research Providers Marketing Research Department for Brand B Responsibilities Include: Designing Studies Constructing Questionnaires Selecting Samples Collecting Data Analyzing Data Preparing Reports Choosing External Research Providers Marketing Research Department for Brand C Responsibilities Include: Designing Studies Constructing Questionnaires Selecting Samples Collecting Data Analyzing Data Preparing Reports Choosing External Research Providers Exhibit 1.5 Illustrative Decentralized Marketing Research Function in a Multibrand Company

22 Corporate Marketing Department Marketing of Brand A Marketing of Brand B Marketing of Brand C Research Reports Research Requests Corporate Marketing Research Department Responsibilities include: Collecting Data Analyzing Data Preparing Reports Choosing External Research Providers Marketing Research Department for Brand A Responsibilities Include: Designing Studies Constructing Questionnaires Selecting Samples Marketing Research Department for Brand B Responsibilities Include: Designing Studies Constructing Questionnaires Selecting Samples Marketing Research Department for Brand C Responsibilities Include: Designing Studies Constructing Questionnaires Selecting Samples Shared Responsibilities for Research Exhibit 1.6 Illustrative Mixed-Structure Marketing Research Function in a Multibrand Company

23 External Marketing Research Large Commercial Firms: – AC Nielsen provides full service, planning through recommendations Small Commercial Firms – Specialize in one part of the process – Custom Research Inc. provides marketing research,customer satisfaction, and database marketing services

24 External Marketing Research (Cont’d) Academic Consultants Professors and students’ research projects Trade Associations International trade site (www.fita.org)

25 Marketing Services Claritas Inc -- Specializes in providing marketing information to companies Key supplier of information containing the profiles and life-styles of U.S. consumers on a zip code-by-zip code basis Developed a information base by combining U.S. Census Bureau demographic data with life- style/attitudinal data generated through various regional surveys


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