1. Bell Ringer
List five reasons why you think that some new businesses have almost immediate success while others fail miserably.

2. Marketing Information Systems
Chapter 28 and 29

3. Marketing Research What
Is the process and methods used to gather information, analyze it, and report findings related to marketing goods and services.
Who
Small businesses- do not have a specific department dedicated to MR. MR is done informally by owners, managers, employees or hire outside services.
Large businesses- have specific research departments or hire outside consulting firms
6.2 billion spent annually on research

4. Why Marketing Research is Important?
Avoid costly marketing mistakes
Increase sales and profits
Helps manage and make 4P decisions
Keep track of what competitors are doing
Know what’s going on in the market
New trends
Consumer preferences
Customer satisfaction

5. How
Follow research process 3 main ways to collect primary data- survey, observations, experimental methods Internet is a source of secondary data

6. Marketing Information Systems
Data that is collected, sorted and stored so the results can be put to good use
Databases are created with all types of information that is collected
60 minutes data brokers

7. Types of Marketing Research
Qualitative vs. Quantitative
Attitude Research
Opinion research
Determine how people feel
Typically a satisfaction survey
Focus Groups
Market Intelligence
Size and location of market
Competition
Market segmentation
Helps define potential target markets
Sales forecasting
Media Research
Advertising research
Focuses on issues of media effectiveness, selection, frequency, and ratings
Determine which media outlets to advertise in
Product Research
Evaluating product design, packaging, product usage, and consumer acceptance of new products.
Product testing
Focus groups

8. Complete page 241 and 242 in Workbook

9. Marketing Research Limitations
Limited by money and time
Personnel needed

10. Marketing Research Process
Define the problem
Obtain data
Analyze the data
Recommend solutions to the problem
Apply the results
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11. Step 1: Define Problem
Problem definition - occurs when a business clearly identifies a problem and state the information needed to solve the problem.
Problems can focus on any part of the marketing mix.
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12. Step 2: Obtaining Data
Data are collected and examined in terms of the problem(s) being studied
Primary Data - data obtained for the first time and used specifically for the particular problem under study.
Secondary Data - data already collected for some purpose other than the current study. Less expensive than primary data - try to use secondary data first before primary data.
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13. Step 2: Obtaining Data Sources of secondary data Internal sources
employees
business records
External sources
US government agencies
Corporate, public, and university libraries
Consumer and business information companies
Business publications
Trade publications, books, and journals
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14. Step 2: Obtaining Data Sources of primary data
Individual company research
Commercial research organizations
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15. 3 methods to collect primary data
Step 2: Obtaining Data
3 methods to collect primary data
Survey method - information is gathered from people directly through the use of interviews or questionnaires. Most frequently used method.
Determine sample size - a part of the target population that is assumed to represent the entire population
Use personal interviews, focus groups, telephone interviews, mail survey, and online computers.
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16. Interviews Questioning people face to face Expensive
Originated in shopping malls
Focus Group is a type of personal interview
Involves 8 to 12 people
Lead by a moderator
Open discuss with questioning to evaluate advertising, product design, package design, or marketing strategy.
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17. Dominos Pizza Marketing Research for Product Improvement
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18. Step 2: Obtaining Data
Observation Method - the actions of people are observed and recorded. Used to get information about customer behavior or preferences.
Contrived situations - researchers can control the testing situation
Natural situations - customers or employees are viewed as they would normally act in a given situation. Traffic count - count people or cars as they pass the store.
Point of sale research - a combination of contrived and natural. Observe shoppers and decide which ones to choose as research subjects.
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19. Step 2: Obtaining Data
Experimental method - a research observes under controlled conditions the results of changing one or more marketing variables while keeping certain other variables constant. Often used to test new package designs, levels of media usage, and new promotions.
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20. Step 3: Analyzing the Data
Data analysis - the compiling, analyzing, and interpreting of the results of primary and secondary data collection.
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21. Step 4: Recommendations
Conclusions are presented in a report.
Recommendations must be clear and well supported by the research data.
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22. Step 5: Applying Results
Use the research report to make decisions about next actions to take regarding the problem.
Inconclusive research - research does not help to solve the problem
Additional research may be needed
Research suggests specific course of action
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23. Constructing the Questionnaire
Questionnaires should provide data that is valid - data should measure what it was intended to measure.
Questionnaires should have reliability - questions should ask the same type of information from all the respondents.
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24. Writing Questions
Open ended - ask respondents to construct their own response to a question.
“How can we serve you better?”
Difficult to categorize and tabulate
Close Ended - ask respondents to choose answers from possibilities given on a questionnaire.
multiple choice, yes/no or rating questions.
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25. Writing Questionnaires
Formatting
have different types of questions
clear directions for completing questionnaire
excellent visual appearance and design
number all sections
refer to additional pages if necessary
Distribution
Mail first class
Hand signed cover letter explaining purpose of questionnaire
Postage paid return envelope
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