06.Marketing Research

06.Marketing Research - What is Marketing Research?...

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What is Marketing Research? Specifying, gathering, analyzing, and interpreting information to help managers: 1. Understand the environment 2. Identify problems and opportunities 3. Develop and evaluate courses of marketing action Basically, information for decision making
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Why do marketing research? In general, to provide information regarding. .. 1. The situation 2. Customers’ needs and wants 3. Customers’ reactions to the planned marketing mix
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Why do marketing research? Specifcally, illuminate customers’ needs Management may think they understand consumers’ needs, but they may be wrong . “False-consensus bias” describes tendency for managers to over-estimate how many people are similar to them. Avoid the “golden gut” problem--relying on your own intuition for big decisions.
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GM’s Famous “Golden Guts” Marketing = Art + Science Relying on the “art” (the golden gut) without reference to the “science” (marketing research) can lead to disaster.
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Why not do marketing research? Research is often costly “What would I do without this information?” --Maybe it doesn’t matter!
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06.Marketing Research - What is Marketing Research?...

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