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Marketing Research Ch. 28 ME. Marketing Information Systems Section 28.1.

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Presentation on theme: "Marketing Research Ch. 28 ME. Marketing Information Systems Section 28.1."— Presentation transcript:

1 Marketing Research Ch. 28 ME

2 Marketing Information Systems Section 28.1

3  Marketing Research – involves the process and methods used to gather information, analyze it, and report findings related to marketing goods and services  Is often used by companies to:  Determine customers’ attitudes and preferences  Test product features  Determine market size and growth potential  Learn about competitive products  Determine buying cycles  Understand how the company is perceived by the public Defining Marketing Research

4  Helps businesses increase sales and profits  Answers questions about:  What products to produce  At what price to sell the products  How the products will be promoted  Solve market problems and gauge the potential of new ideas  Helps a company keep track of what is happening with its current markets Why is Marketing Research Important?

5  Marketing Information Systems – is a set of procedures and methods that regularly generates, stores, analyzes, and distributes information for the use in making marketing and other business decisions  Rely heavily on:  Data about current customers  Overall product sales reports  Inventory levels Marketing Information Systems

6  Database Marketing (CRM) – is a process of designing, creating, and managing customer lists  Developed from customer touch points such as face to face sales, direct-mail responses, telephone or e-mail purchases, service requests, or Web site visits Database Marketing

7 Types, Trends, and Limitations of Marketing Research 1.Section 28.2

8  Quantitative Research – answers questions that start with “How many” or “how much”  Gathers information from large numbers of people  Relies heavily on the surveys or questionnaires to obtain information  Qualitative Research – focuses on smaller numbers of people (usually fewer than 100) and tries to answer questions about “why” or “how”  Relies heavily on in-depth interviews Types of Marketing Research

9  Attitude Research – is designed to obtain information on how people feel about certain products, services, companies, or ideas  Market Intelligence – is concerned with the size and location of a market, the competition, and the segmentation with the market for a particular product or service Types of Marketing Research

10  Sales Forecasting – is an attempt to estimate the future slaes of an existing product  Economic Forecasting – is an attempt to predict the future economic conditions of a city, a region, a country, or other part of the world Forecasting

11  Media Research – focuses on issues of media effectiveness, selection, frequency, and ratings  Media Advertising Measurers  Audience – is the number of homes or people exposed to a particular advertising medium  Frequency – is the number of times a viewer in the audience sees or hears an ad  Reach – is the percentage of the target audience that will see or hear an ad at least once Media Research

12  Product Research – centers on evaluating product design, package design, product usage, and consumer acceptance of new and exiting products  Also conducted to collect information on competitive products  Concept testing is used in the early stages of product development Product Research

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