1. Marketing Research

2. Definition
Marketing research involves the process and methods used to gather information, analyze it, and report findings related to marketing goods and services
Marketing Research Association

3. How is the Research Used?
Determine consumers’ 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

4. Types of Research Quantitative Analysis of numerical data. “How many”
“how much”
surveys
Qualitative
Analysis of data such as words
“How”
“Why”
In-depth Interviews

5. Types of Marketing Research
Attitude & Opinion Research
Market Intelligence
Media Research
Product Research

6. Attitude & Opinion Research
Discover how people feel about products, services, or ideas
Satisfaction surveys
Mail surveys
Telephone interviews
Rate “how satisfied”
Opinion polls
Gallup Organization
Politics, elections, business, economy, social issues, sports
Focus groups

7. Market Intelligence
Information about an existing or potential market for market intelligence
Defines the size, location, and make-up of the market
Often done before a new product launch

8. Media (Advertising) Research
Determines the effectiveness of the various media to advertise a good or service
Brand awareness
Advertising recall
Effectiveness of copy

9. Media (Advertising) Research
Nielsen Media Research, Inc.
Audience measurement information for television industry
Viewing habits of 13,000 people in 5,000 homes
Arbitron Ratings Company
Produces radio audience measurements
Audience measurement in 267 local markets serving 2,300 radio stations
Contacts listeners, diaries

10. Product Research
Information about a product’s design, packaging, and usage
How customers react to a new product design or packaging
Information about how a competing product is designed and packaged

11. Knowledge Check.. Identify the type of research needed.
Starbucks needs information about a new Asian market.
Nike would like to know how consumers responded to a Super bowl commercial.
Coke needs to know how consumers react to a new can color.
Holiday Inn wants to know how pleased their past customers are.

12. The Research Process Define Problem Collect Data Analyze Data
Recommend Solutions

13. Obtaining Data Primary data Secondary data
Data obtained for the first time
Used for specific problem or issue
Secondary data
Data already collected for some purpose other than the current study
Less expensive than primary data

14. Secondary Sources Internet sources U.S. and state government sources
Specialized research companies
Business publications and trade organizations
Company Data Base
Advantages
Obtained easily
Inexpensive
Disadvantages
May not be suitable for the problem under study
Sometimes inaccurate

15. Primary Data Instruments
Survey Method
Most frequently used
The larger the sample, the more accurate the results
In person
Mail
Online

16. Primary Data Instruments
Interview method
Face-to-face
Phone
Focus Groups
A group is interviewed all at once and observed
Can be expensive

17. Primary Data Instruments
Observation method
Watched by cameras or observers
Mystery shoppers
Cannot measure attitudes or motivation
Faster than personal interviews
Cost effective
Experimental method
Observes results of changing one or more marketing variables while keeping other variables constant under controlled conditions
New package designs, media usage, new promotions
Expensive

18. IT IS NOT A REPLACEMENT FOR MANAGERIAL JUDGEMENT!!
ALWAYS Remember
Marketing Research is a tool.
It assists marketing managers in their decision making.
IT IS NOT A REPLACEMENT FOR MANAGERIAL JUDGEMENT!!