ch 9 MKTG-Market Research

ch 9 MKTG-Market Research - Marketing Research Foundations...

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Marketing Research Foundations of Marketing Stephen Walls
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Today’s basic question: What is the purpose and process of market research?
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Agenda: Decision Support Systems 5 Steps to Research 3 Types of Problems Markets, Marketing Mix, Performance 3 Types of Objectives Exploratory, Descriptive, Causal 2 Types of Data Primary, Secondary
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Marketing Decision Support Systems Decision Support Systems An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions.
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DSS Characteristics Interactive Flexible Discovery-Oriented Accessible
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Marketing Decision Support Systems Database Marketing The creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns. The key tool for successful one-to-one marketing.
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Role of Marketing Research Marketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision.
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Three Roles of Marketing Research Descriptive – gathering and presenting factual statements e.g., what is the historic sales trend in the industry? Diagnostic – explaining data e.g., determining the impact on sales of a change in the design of the packaging Predictive – or what if? e.g., what is the likely impact on sales if we add a new model to the product line
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Importance of Marketing Research Improve quality of decision making Trace problems Focus on keeping existing customers and reaching new customers Understand changes in the marketplace
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Types of Research Problems Related to understanding markets Demand forecasting Segmentation: Who are potential buyers of our product? Related to creating the
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This note was uploaded on 06/16/2010 for the course MKT 76620 taught by Professor Walls during the Summer '10 term at University of Texas at Austin.

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ch 9 MKTG-Market Research - Marketing Research Foundations...

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