YDC_E_Challenge_Workshop_III_PPT2

YDC_E_Challenge_Workshop_III_PPT2 - MarketingResearch...

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Marketing Research Sherman Lam March 28, 2009
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HK Immigration: Number of Children in China from parents not formally married
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Marketing research provides information to  help implement… The Study of Marketing The Use of the Marketing Concept Marketing Strategy
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Marketing research provides information to  help implement… Marketing: process of all activities necessary for the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives
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Marketing research provides information to  help implement… Marketing Concept: the business philosophy that holds the key to achieving organizational goals consists of determining the benefits sought by target market members and delivering these benefits more effectively & efficiently than competitors. This is to be done at a “profit.”
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Marketing research provides information to  help implement… Marketing Strategy: consists of selecting one or more segments of the market as the company’s target market(s) and designing the proper “mix” of the “4Ps”
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Key Point:   To practice marketing; to implement  the marketing concept; to carry out a  marketing strategy,  managers must  make informed decisions .   Many decisions require additional  information and marketing research  may be needed in order  to supply  that information .
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Useful questions for determining the information needs of marketing managers. What decisions do you regularly make? What information do you need to make these decisions? What information do you regularly get? What special studies do you periodically request? What information would you want that you are not getting now? What information would you want daily? Weekly? Monthly? Yearly? What magazines and trade reports would you like to see on a regular basis? What topics would you like to be kept informed of? What data analysis programs would you want? What are the four most helpful improvements that could be made in the present marketing information system?
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the consumer, customer, and public to the marketer through information information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. AMA- Definition of Marketing Research
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YDC_E_Challenge_Workshop_III_PPT2 - MarketingResearch...

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