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Overview student version - Introduction to Marketing...

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© 2011 Robert H. Smith School of Business University of Maryland Introduction to Marketing Research Professor Whitney Professor Whitney
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© 2011 Robert H. Smith School of Business University of Maryland What is the Definition of Marketing Research? What are some critical characteristics of good market research? What marketing research techniques are you familiar with ?
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© 2011 Robert H. Smith School of Business University of Maryland Importance of Marketing Research Descriptive Function Diagnostic Function Predictive Function
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© 2011 Robert H. Smith School of Business University of Maryland Types of Marketing Research Applied Basic
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© 2011 Robert H. Smith School of Business University of Maryland Comment on the following statement by the owner of a restaurant in DC: “I see customers every day whom I know on a first-name basis. I understand their likes and dislikes. If I put something on the menu and it doesn’t sell, I know that they didn’t like it. I also read the magazine Modern Restaurants, to keep up with industry trends. This is all of the marketing research that I need to do.”
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© 2011 Robert H. Smith School of Business University of Maryland Deciding Whether To Conduct Market Research Is sufficient time & money available? Is the information on hand inadequate? Is the decision important? Does the information value exceed the cost? Conduct Marketing Research Do Not Conduct Marketing Research Yes Yes Yes Yes No No No No Costs include : research expenses, delayed decision, disclosure to competitors.
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© 2011 Robert H. Smith School of Business University of Maryland Research Firms Top 10 Firms 1. Nielsen Company (NY; 33,000
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Overview student version - Introduction to Marketing...

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