Section 28.2 Types, Trends, and Limitations of Marketing Research Marketing Essentials n Chapter 28 Marketing Research Section 28.2 Types, Trends, and Limitations of Marketing Research

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research What You'll Learn Four important areas of marketing research The important trends affecting marketing research The limitations of marketing research

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Why It's Important Sometimes more than one type of research is needed to solve a particular problem. In addition, data collected from one research study can often be used to solve other business problems related to marketing. This section will introduce you to the major types of marketing research, the latest trends, and the limitations of marketing research.

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Key Terms attitude research market research media research product research test research

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Types of Marketing Research The type of marketing research businesses conduct depends on the problem that they are trying to solve. Some of the most significant areas of research are: attitude research market research media research product research

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Attitude Research Attitude research, also known as opinion research, is research designed to obtain information on how people feel about certain products, ideas, or companies. Example: The Gallup Organization conducts opinion research polls on politics, elections, business and the economy, social issues, and public policy.

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Market Research Market research involves the systematic gathering, recording, analyzing, and presentation of information related to marketing goods and services. It uses market analysis—the study of particular consumer and industrial markets—to obtain data about the size, location, and make-up of the market for a product. Slide 1 of 2

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Market Research Sales forecasting is an effort to estimate the future sales of a product. Economic forecasting is an attempt to predict future economic conditions. Most businesses rely on government data to predict economic conditions and to adjust their business activities depending on the economic outlook. Slide 2 of 2

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Media Research Media research focuses on issues of media selection and frequency. It measures the effectiveness of the advertising message and media placement. Media research is done on: print media broadcast media online media

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Researching Print Advertisements The effectiveness of a printed advertising message can be tested on its recall, communication, and persuasive abilities. Several different techniques are used, including: reader surveys consumer panels

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research TV Ratings Advertisers who prepare television advertisements are interested in TV ratings. What information can TV ratings provide for a television advertiser?

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Researching Online Advertising As online advertising increases in popularity, researchers have developed marketing research techniques for online copy testing. Techniques include: using a mock environment similar to traditional copy testing live testing in an interactive environment tracking ad recall and copy effectiveness evaluating Web site elements that attract users

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Product Research Product research centers on evaluating product design, package design, product usage, and consumer acceptance of new and existing products.

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research New Product Acceptance Product tests are a way of measuring new product acceptance. Techniques include: having consumers try a product and give their opinions providing samples test marketing by placing a new product in a selected geographic area having a product rating board

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Existing Product Research Satisfaction questionnaires and interviews gather information about existing products and services. Industrial satisfaction surveys focus upon products and services utilized by business and manufacturing firms. Customer satisfaction surveys provide data for businesses regarding retail customer attitudes toward existing products and services.

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Trends in Marketing Research The nature and scope of marketing research are rapidly changing to keep pace with a changing marketplace. In the face of global competition, research that measures product quality and consumer satisfaction is the fastest growing form of marketing research.

Types, Trends, and Limitations of Marketing Research SECTION 28.2 Types, Trends, and Limitations of Marketing Research Limitations of Marketing Research Marketing research information is used to help businesses make sound business decisions, however it is limited by the following factors: the company's budget time quickly changing customer preferences

Reviewing Key Terms and Concepts ASSESSMENT 28.2 Reviewing Key Terms and Concepts 1. What are the four major areas of marketing research? 2. What is the difference between sales and economic forecasting? 3. What is test marketing? 4. List at least four trends facing marketing researchers today. 5. What are two limitations of marketing research?

ASSESSMENT Thinking Critically 28.2 Should every type of business engage in marketing research? Why or why not?

Graphic Organizer 28.2 Types of Marketing Research Product Research Attitude Research Media Research Market Research New Product Acceptance Existing Product Research Researching Print Advertisements Researching Broadcast Media Researching Online Advertising Sales Forecasting Economic Forecasting

Marketing Essentials End of Section 28.2