1. Chapter 32
Marketing Research

2. What is Marketing Research?
Marketing Research – involves the systematic gathering, and analyzing of information about problems related to marketing goods and services.

3. Goal of Marketing Research
Obtain information about:
Preferences
Opinion
Habits
Trends
And plans of potential customers.
Research can minimize potential losses when introducing a new product.

4. Why is Research Important?
Research helps answer the following questions
What products should be produced?
Where should the products be sold?
How will the products be promoted?
At what price will the products sell?
A few years a go McDonalds made a major change to their packaging in response to Marketing Research results.

5. Marketing Information Systems
A Marketing Information System – is a set of procedures and methods that regularly generates, stores, analyzes, and distributes marketing information.
Asking your zip code at check out helps build a the database.

6. Marketing Databases
Data can be collected using barcode scanners at point-of-sale terminals.
Databases – are created with this data and are then sold to a variety of sources
American Express sells all types of information to other companies about its customers.
Privacy Invasion

7. Types of Marketing Research
Advertising Research
Product Research
Market Research
Sales Research

8. Advertising Research
Advertising Research focuses on the advertising message and the media.
Testing the Advertising Message – consumer panels are set up to get people’s reactions to an advertisement.
Researching the Medium – Testing whether people use a particular media over another (For example: T.V. vs Magazine)

9. Product Research
Product Research – evaluates product design and acceptance, competitive products, package design and product usage.
Product Samples with coupons in the mail.
Test Marketing

10. Market Research
Customer Analysis – is the study of consumer behavior. Questionnaires and Interviews are used to generate this information.
Market Analysis – the study of behavior of a consumer market.
Trends

11. Sales Research Sales Research – is the study of sales data.
Sales Forecasting – when the future sales of the product are estimated.
Economic Forecasting – is an attempt
to predict the future economic
conditions of a city, region, country
or the world.

12. Limitations of Marketing Research
Funding for Research
Time
Customers in a test situation might behave differently than when they are acting in the real-world.