1. Information Management and Market Research
Chapters 28 and 29

2. Marketing Research Links….
Consumer, Customer, and Public
Marketer through information
Marketing Research: Involves the process & methods used to gather information, analyze it, & report findings related to marketing goods and services.

3. Marketing Research What is the primary purpose of Marketing Research?
To obtain information about the preferences, opinions, habits, trends, and plans of current and potential customers.

4. Marketing Research
Marketing Information Systems is a set of procedures & methods that regularly:
Generates
Stores
Analyzes
Distributes……
…marketing information for use in making marketing decisions.

5. Marketing Research
Database Marketing: Process of designing, creating, and maintaining customer lists.
Also known as Customer Relationship Marketing (CRM)
What do they use this information for?
Sending out catalogs
Special offers
Selling information to other businesses

6. Market Research
The type of research a business conducts depends on the problem they are trying to solve.
Quantitative Research: Answers questions that start with “how many” or “how much”. This type of information gathers information from a larger group of people.
Usually done through surveys or questionnaires
Qualitative Research: Focuses on smaller numbers of people (usually less than 100) and tries to answer the question “why” or “how”.
Usually done through interviews

7. Types of Marketing Research
Attitude Research
Also known as opinion research – finds out how people feel about products. Commonly done through Satisfaction Surveys.
Market Intelligence
Concerned with size, location, competition and segmentation of the market for a product
Helps a company determine who their target market is
Media Research
Focuses on media effectiveness, selection, frequency & ratings.
Helps marketers determine what methods of advertising would be most beneficial
Product Research
Centers on evaluating product design, package design, product usage, and customer acceptance of new and existing products.

8. Marketing Research Process:
The Marketing Research Process involves five steps
Step #1
Defining the problem
Occurs when a company clearly identifies the problem & what is needed to solve it
Allows you to create objectives that will guide your research process

9. Types of Data Step #2: Obtaining data Primary Data Secondary Data
Obtained for one particular purpose
Secondary Data
Already gathered for another purpose

10. Secondary Data Sources:
Internet
U.S. Government
Consumer and Business Information companies
Business and Trade Publications

11. Primary Data Sources: Obtained by: Survey method Observation method
Online surveys
Phone surveys
Interview Method
Observation method
Fastest and most cost-effective
Mystery Shopper
Experimental method

12. Mystery Shopper
Researcher that poses as a customer and goes into a retail store to observe employees.
A mystery shopper is someone hired by a company to pose as a customer, to evaluate the services or purchase pre-selected merchandise.
Becoming a mystery shopper is free. It doesn't cost a penny to find out about shopping opportunities

13. Research Process the data collected.
Step #3: Analyzing the data
- Research compile, analyze, and interpret
the data collected.
Step #4: Recommending solutions to the problem
- Researchers come up with potential solutions to
the problem and present them in a report.
Step #5: Applying The Results
- Research results are put into action.

16. Finish M&M Worksheet
Your %'s should = 100%