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Ch 2 The Marketing Research Process- ReadingNotesReasons to Conduct Marketing Research•Customer, employee, or stakeholderoSatisfactionoKnowledgeoBehaviorsoBeliefsoAttitudes•The Four Ps of Marketing AnalysisoWhat is the best price, product, promotion, or place mix?•Marketing environmental assessmentoWhat are relevant economic, technological, political ®ulatory issues?•Competitor analysis “opposition research”oWhat are your competitors doing & how can you best respondto the demands of the marketplaceThe Marketing Research Process1. Establish Need2. Define Problem•Separating symptoms from problem (decline in sales is not theproblem but perhaps the symptom of a poor marketing effort)•Sometimes, no problem to define, but an issues to address ( simplywanting to know customer attitudes)3. Establish Research Objectives•Research provider & research sponsor agree on project scope &objectives; agree on research goals, objectives, timetable, budget,& general resources needed•Clear, concise, specific4. Identify Information Sources & Types•Knowing where & how you will be able to get the neededinformation can be the difference between project success & failure5. Determine Research Design
•The research design is the step-by-step guide by which theresearch is executed; enables repeatability & traceability•