Definition: The systematic design,
collection, analysis, and reporting of data
relevant to a specific marketing situation
facing an organization
Most companies use a combination of
Purpose: Companies use marketing marketing research resources to study their
research in a wide variety of situations industries, competitors, audiences, and
channel strategies.
To recall to the scientific approach
Creativity
Characteristics of an efficient market The multiplicity of approaches.
research:
Interdependence of models
To measure costs and benefits of information.
To develop a strong analytical approach.
Exploratory research (Unware of problem):
Marketing research to gather preliminary
information that will help define problems and
suggest hypotheses
Decriptive research (Aware of Problem):
Marketing research to better describe
DEFINE THE PROBLEM AND marketing problems, situations, or markets,
STEP 1: RESEARCH OBJECTIVES. such as the market potential for a product or
the demographics and attitudes of consumers
Causal research (Problem Clearly Defined):
Marketing research to test hypotheses about
cause-and-effect relationships
1. Mangement problem
4. Marketing Research
2. Research objectives
3. Information needed
Research Plan Includes
4. How the results will
help management decisions
5.Budget
Secondary data: Information already exists
To meet the manager’s information needs, the somewhere.
research plan can call for gathering + Collected for another purpose
To succeed in today’s marketplace,
Know where to advertise Sources of data secondary data, primary data or both Primary data: Information collected for the
companies must know how to turn
Set better goals for your business specific purpose at hand.
mountains of marketing information into
Create relevant brochures fresh customer insights that will help Observational research: Gathering primary
Decision making made simple them deliver greater value to customers 1.The Importance of Information data by observing relevant people, actions,
and situations
Minimizing business risk in Marketing Survey research: Gathering primary data by
Easily spot business opportunities DEVELOPING THE RESEARCH PLAN FOR
STEP 2: COLLECTING INFORMATION asking people questions about their
Sales outperforming competitors knowledge, attitudes, preferences, and
buying behavior
1. Research approaches
Experimental research: Gathering primary
data by selecting matched groups of subjects,
Marketing managers and other giving them different treatments, controlling
related factors, and checking for differences
information users in group responses.
The Marketing Research Process Mail
Telephone
Personal
2. Contact methods Online
A segment of the population selected for
First, MIS interacts with marketing research to represent the
these information
users to assess
2. The Marketing Information MARKETING RESEARCH Planning Primary Data Collection
population as a whole
information needs. System (MIS)
3. Sampling plan
Helping decision makers use the
information for customer
Developing needed information Types of sample:
Next, MIS interacts with the
marketing environment to develop Assessing the information needs
needed information through
internal company databases, Research is the starting point for
marketing intelligence activities, Mechanical Instruments
and MARKETING RESEARCH.
marketing.
W ithout research, a company enters a Open – Ended questions: Do not privide
4. Research Instruments response choices
market like a blind man Questionnaire
W hen done correctly you gain decision 3. The (most common research instrument) Closed – Ended questions: Supple a certain
number of responses from which respondents Multiple-choice Questions
making power. If done incorrectly, it Analyzing and using information Importance of are expected to choose. Dichotomous Questions
could end up costing your company Marketing (unique choice)
millions Research The researcher next puts the marketing
IMPLEMENTING THE RESEARCH research plan into action. This involves
PLAN – COLLE CTING AND ANALYZING collecting, processing, and analyzing the
STEP 3: THE DATA information.
The market researcher must now interpret the
INTERPRETING AND REPORTING THE findings, draw conclusions, and report them
STEP 4: FINDINGS to management
Managing detailed information about
individual customers and carefully
5. Customer managing customer touch points to
Relationship maximize customer loyalty
Management -
CRM
