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By the end of class, students will be able to:
•Identify the two main types of marketing research.
•Differentiate between the four methods of conducting
marketing research.
•Discuss trends and limitations in
marketing research.
Issues in Marketing Research
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• quantitative research
• qualitative research
• attitude research
• market intelligence
• media research
• product research
Marketing Research Terminology
+Two Types of Marketing Research
Two Broad Types of Research
QUANTITATIVEResearch
QUALITATIVE Research
Quantitative ResearchMarketing research that answers questions that begin with “how many” or “how much.” It often gathers information from large random samples.
Qualitative ResearchMarketing research that focuses on smaller numbers of people and tries to answer questions that begin with “why” or “how.”
+How might a company use Marketing Research?
TACO BELL used new product development research to
uncover the potential sales and market for a new version of
the taco. Doritos Locos Tacos was the MOST successful
product in 2012 with over 370 million sold. That’s over 1
Million Tacos daily! Doritos Locos Tacos Commercial
VW performed customer satisfaction research on its
Volkswagon Beetle convertibles which sparked the idea for
the following commercial:
VW Convertible Commercial
+Types of Marketing Research
Attitude Research
Attitude ResearchAlso known as opinion research; designed to obtain information on how people feel about certain products, services, companies, or ideas.
AttitudeResearch
Mail surveys
Telephone interviews
Opinion polls
**The Gallup Poll has measured and tracked the public’s attitudes concerning virtually every political, social and economic issue of the day in more than 140 countries.
+Types of Marketing Research
Market Intelligence
Market IntelligenceAlso known as market research; concerned with the size and location of a market, the competition, and segmentation within the market for a particular product.
MarketIntelligence
Sales forecasting
Economic forecasting
Competitive products
**Learning about competitor’s products is a key component of marketing intelligence.
+Types of Marketing Research
Media Research
Media ResearchAlso known as advertising research; focuses on issues of media effectiveness, selection, frequency, and ratings.
MediaResearch
Brand awareness
Advertisement recall
Brand image
Effectiveness of advertising copy
Audience size
+Types of Marketing Research
Product Research
Product ResearchResearch that centers on evaluating product design, package design, product usage, and consumer acceptance of new and existing products.
ProductResearch
New product research includes concept testing
Existing product research includes questionnaires and interviews
**Research shows that about half of new products introduced into the marketplace fail within the first two years of their product launch.
+Types of Marketing Research
Product Research ContinuedProduct
Research
New product research includes concept testing
Existing product research includes questionnaires and interviews
**Research shows that about half of new products introduced into the marketplace fail within the first two years of their product launch.
Stouffers performed research for 13 years before launching Lean Cuisine. They were so
successful that they had $125 million in sales their first year!
Some companies are so quick to “get in the game” that they may not do their research. For
example……
+Types of Marketing Research
Qualitative & Quantitative Research
AttitudeResearch
MarketIntelligence
MediaResearch
ProductResearch
Mail surveys
Telephone interviews
Opinion polls
Sales forecasting
Economic forecasting
Competitive products
Brand awareness
Advertisement recall
Brand image
Effectiveness of advertising copy
Audience size
New product research includes concept testing
Existing product research includes questionnaires and interviews
+Issues in Marketing Research
Trends in Marketing Research
Global Trends in Marketing Research
Globalization of the marketplace means increased competition.
Product quality and customer satisfaction are more important than ever.
Use of internal and external information for managing a business is mandatory.
Research of other cultures is important to a product’s success in a foreign market.
MCDONALD'S EGYPT COMMERCIAL
MCDONALD'S JAPAN COMMERCIAL
MCDONALD'S INDIA COMMERCIAL
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Global Corporations like McDonald’s perform intensive new product development research before launching new menu items in the marketplace.
International Marketing Research
McDonald's Menu Items From Around the World
+Issues in Marketing Research
Limitations of Marketing Research
The amount of information that can be gathered is limited by money and time.
Favorable customer reviews do not guarantee a product’s success.
Fast-changing markets may not allow time for research.