Marketing Research is the function that links the organization to its market through the gathering of information …….Marketing research allows for:
Identification and definition of market driven opportunities and
problems…Generation, refinement and evaluation of marketing actions.
.Monitoring of marketing performance and improved understanding of marketing as a business process …the info allows for Knowledge of the market.
Effective training programs for employees…Employee empowerment and teamwork…Customer information…Data integration…Information Technology…Creation of customer profiles…types of research studies.
analysis(new mkt ops, swot) ,market analysis(opp. Assesmetn,scan extermal envt.),mkt. segmentation(benefit/lifestyle study cust. Characteristics, brand pref./loyalty, cust. Profiles),competitive analysis,positioning, new
….demand analysis(how large is potential mark…how sens. Is demand to price change)….Value forma.(what non price fact. R important.).
.Sales forecasting…Estimates financial outcomes
of various pricing strategies
types of research orgs.
.internal(Advantages: method consistency, shared information, minimized spending) vs. external (Advantages:
Objectivity, less subject to politics, specialized talents, flexibility)
measures customer knowledge…Affective:
measures overall impression or attitude toward a product, brand…Behavioral:
specific behaviors or intended behaviors
Don’t use MR if Info is already avail,not enuf time.
.inadequate sources,costs outweigh value.
4 phases of MRP
…Determination of information research problem…Selection of appropriate research design….Execution of research design….Communication of the results
.Determine and clarify management’s information needs(Formal statement,iceberg,understand complete prob.determine units of analysis/variables/constructs)Specify the research questions and define the
research problem .
.Confirm research objectives and determine the value of the information ….
and evaluate research design and data sources(ex,des,cau. Sec/pri.).
sample plan and sample size,
measurement issues and scales, Pretest the questionnaire…
…Collect and process data(ex,des,cau. Sec/pri.),
data(create data, quantitative analy.),
data structures into information.
and present final report to management
information(only good for so long)
of Secondary Data:Availability, Reliability(is it? Don’t always believe), Inexpensive.
for another purpose either internally or externally(done by others ie. govt)…
l market data.
.trend analysis, bus.
Intelligence, compet. Analysis