marketingresearch

marketingresearch - Prof. Richardson MKTG 116 slide 1...

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Unformatted text preview: Prof. Richardson MKTG 116 slide 1 Chapter 5 Prof. Richardson MKTG 116 slide 2 Chapter 5 Introduction Business which have “extra information” are more competitive. The process of developing information through Market Research is becoming more complicated and is greatly enhanced and improved by using advanced telecommunications (e-mail, fax, internet etc.) Prof. Richardson MKTG 116 slide 3 Chapter 5 “The quality of marketing planning decision depends on the quality of the information on which they are based” p. 76 Garbage In = Garbage Out good market info = good marketing planning Prof. Richardson MKTG 116 slide 4 Chapter 5 good market info = good marketing planning There are many sources of Market Info • customer complaints • sales-force reports • government statistics • industry reports … and ... Page 76 Prof. Richardson MKTG 116 slide 5 Chapter 5 Marketing Research The systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services. Page 76 Prof. Richardson MKTG 116 slide 6 Chapter 5 Marketing Research The critical task of the Marketing Manager is DECISION MAKING. P. 77 Marketing Research helps provide good information to help in decision making. Prof. Richardson MKTG 116 slide 7 Chapter 5 Marketing Research The information gathered during Marketing Research can help: • develop sales forecasts • design new products, based on customer opinion • create attractive packaging • guide advertising plans Page 77 Prof. Richardson MKTG 116 slide 8 Chapter 5 Marketing Research Where do you get the info? A. you can do it yourself by making someone in the company responsible for doing the research B. you can hire an outside agency that specializes in Market Research Page 78 Prof. Richardson MKTG 116 slide 9 Chapter 5 Marketing Research Where do you get the info? B. you can hire an outside agency that specializes in Market Research There are 2 types of outside agencies 1. Full Service Research Supplier 2. Syndicated Service Page 78 Prof. Richardson MKTG 116 slide 10 Chapter 5 Marketing Research There are 2 types of outside agencies 1. Full Service Research Supplier They will will handle all aspects, conduct interviews, send out questionnaires, do telephone polls etc. and provide a detailed report explaining all aspects of your potential customer base. Page 78 Prof. Richardson MKTG 116 slide 11 Chapter 5 Marketing Research There are 2 types of outside agencies 2. Syndicated Service These types of companies gather various types of information and sell it (usually in subscription form) to clients that have regular needs. • Restaurants can buy statistical information on eating habits and spending patterns • Clothing companies can buy information on demographics and seasonal buying patterns as well as trend information....
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This note was uploaded on 12/09/2011 for the course STATS 221 taught by Professor Nielson during the Fall '10 term at BYU.

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marketingresearch - Prof. Richardson MKTG 116 slide 1...

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