Introduction to Introduction to Marketing ResearchMarketing Research

Lesson ObjectivesLesson ObjectivesDefine marketing researchDefine marketing research

Identify uses and applications of Identify uses and applications of marketing researchmarketing research

Identify 4 types of marketing Identify 4 types of marketing researchresearch

Explain the limitations of marketing Explain the limitations of marketing research research

Marketing Marketing Information Information

SystemsSystems

Set of procedures and methods Set of procedures and methods that regularly generates, stores, that regularly generates, stores,

analyzes and distributes analyzes and distributes marketing informationmarketing information

Marketing Marketing ResearchResearch

Systematic gathering, recording Systematic gathering, recording and analyzing of information and analyzing of information

about problems related to about problems related to marketing goods and servicesmarketing goods and services

Uses of Marketing Uses of Marketing ResearchResearch

Preferences and opinionsPreferences and opinions

Habits (lifestyle and Habits (lifestyle and buying)buying)

Trends (economic and Trends (economic and consumer)consumer)

Future consumer plansFuture consumer plans

Applications of Applications of Marketing Marketing ResearchResearch

Product planningPrice planningPromotion planningPlace/distributionMinimization of losses (risk management)Staffing requirementsFinancial needs

Marketing Research can Marketing Research can be categorized into 4 be categorized into 4

areas:areas:Media ResearchMedia Research

Product ResearchProduct Research

Attitude ResearchAttitude Research

Market Analysis and Market Analysis and Sales ForecastingSales Forecasting

Media ResearchMedia Research

Designed to Designed to measure:measure:

MessageMessageWhat is it saying? Hitting target market?Recall?Meeting goals?

MediaMediaTV, radio, TV, radio, magazine, coupon, magazine, coupon, promotional promotional activity (BOGO) activity (BOGO) etc.etc.

Is your target Is your target market market using/seeing it?using/seeing it?

Return on costs?Return on costs?

Common Techniques for Common Techniques for Media ResearchMedia Research

Consumer Consumer panels – oral, panels – oral, written or written or observed observed behavior behavior recordedrecordedAd recallAd recallWritten Written diaries/home diaries/home monitorsmonitors

Introduction to Introduction to Marketing ResearchMarketing Research

Marketing Marketing ResearchResearch

Systematic gathering, recording Systematic gathering, recording and analyzing of information and analyzing of information

about problems related to about problems related to marketing goods and servicesmarketing goods and services

Marketing Research can Marketing Research can be categorized into 4 be categorized into 4

areas:areas:Media ResearchMedia Research

Product ResearchProduct Research

Attitude ResearchAttitude Research

Market Analysis and Market Analysis and Sales ForecastingSales Forecasting

Product Product ResearchResearch

Product Research Product Research Focuses on…Focuses on…

Product designProduct usageProduct acceptance by consumersTesting of existing productsCompetitive productsPackage design

Applications of Product Applications of Product ResearchResearch

New product conceptsNew product concepts low fatlow fat single servingsingle serving

New uses for existing productNew uses for existing product Arm and Hammer Baking Soda Arm and Hammer Baking Soda

Pricing the productPricing the product

Designing the packageDesigning the package Reynolds Plastic WrapReynolds Plastic Wrap

Attitude ResearchAttitude Research

Also known as opinion Also known as opinion researchresearch

Obtains information about Obtains information about how people feelhow people feel

Attitude ResearchAttitude ResearchTells Us…………. Tells Us………….

People’s opinions on People’s opinions on Politics and Elections – ‘polls’Politics and Elections – ‘polls’Company perceptionCompany perceptionThe EconomyThe EconomySocial IssuesSocial IssuesPublic PolicyPublic Policy

Market Market AnalysisAnalysis

Market Research Market Research Focuses on…Focuses on…

Consumer buying behaviorConsumer buying behavior

Market trends – what the Market trends – what the consumers are buying consumers are buying or planning to buyor planning to buy

Sales forecastingSales forecasting

Economic forecastingEconomic forecasting

Sales Forecasting Sales Forecasting Focuses on…Focuses on…

Sales dataSales data

Sales forecasting Sales forecasting (determining potential (determining potential sales for product)sales for product)

Economic forecasting Economic forecasting (determining potential (determining potential economic conditions)economic conditions)

Limitations of Marketing Limitations of Marketing ResearchResearch

CostCost

Time-consumingTime-consuming

Time lag between research Time lag between research and applicationand application

Respondent or interviewer Respondent or interviewer commitment/validity of datacommitment/validity of data

ReviewReviewWhat is marketing research?What is marketing research?

What are the 4 types of marketing What are the 4 types of marketing research?research?

Give an example of how each type is Give an example of how each type is appliedapplied

What are the limitations of marketing What are the limitations of marketing research?research?