205-Note03 Marketing Research.pptx - Marketing Researc h Topic Outline • The roles of marketing research • The marketing research process •

205-Note03 Marketing Research.pptx - Marketing Researc h...

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Marketing Researc h
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Topic Outline The roles of marketing research The marketing research process
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Marketing researc h Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Reduces risk and uncertainty in decision making Situational Analysis Marketing Mix Market Segmentation, Target Market Selection, and Product Positioning Marketing Goals Marketing Research 4P’s and Marketing Research Examples Product Price Place Promotion
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Defining the problem and research objectives The marketing research process Interpreting and reporting the findings Developing the research plan. Collecting and analyzing data Secondary Data Primary Data
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Step 1: Defining the problems and research objectives Symptoms and Problems “Declining Sales?” Research Objectives Exploratory: To gain insights and knowledge Descriptive: To find and test relationships Causal: To cause-and-effect relationship
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Step2: Developin g the research plan Research plan is a written document which outlines: Type of problems Exact information needed Plan for collecting data Budget
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Step3: Collecting and Analyzing Dat a Secondary data Information that already exists somewhere, having been collected for another purpose Advantages: Time, Cost Disadvantages: Lack of appropriateness Primary data Information collected for the specific purpose at hand
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Step3: Collecting and Analyzing Dat a Secondary data sources Internal records Government information (e.g., Statistics Korea ) Periodicals and books Commercial data services A. C. Nielsen, Information Resources Inc.
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