Introduction to Marketing Research

Overview

OutlineMarketingMarketing Research DefinedThe Role of Marketing ResearchCharacteristics of Marketing ResearchTypes of Marketing Research StudiesThe Marketing Information SystemThe Future of Marketing Research Summary

Learning ObjectivesTo know what is meant by the term Marketing

and Marketing ResearchTo understand the role of marketing research, its

uses and characteristics.To describe a marketing information system and

explain how marketing research and marketing information systems differ.

MarketingMarketing Defined- marketing is defined as

the performance of all activities necessary for the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organisation objectives.

Marketing QuoteA sweet, brown, fizzy beverage that at once represents the best and worst of American business enterpriseCoca-Cola is one of the worlds truly nonessential products brilliantly marketed.Anonymous commentator, quoted in the Wall Street Journal, Feb

3 1997.

Marketing QuoteThe Arch Deluxe burger tastes like (ouch!) a Burger King Whopper only with more glop.Consensus of informal marketing survey taken by fortune, Nov 4, 1996

MarketingMarketing Strategy- consists of selecting a

segment of the market as the companys target market and designing the proper mix of product/service , price, promotion and distribution system to meet the needs of the consumers within the target market.

MarketingThe Marketing Concept- is a business

philosophy that holds that the key to achieving organisational goals consists of determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.

Marketing

Marketing Managers need:ObjectiveAccurateCurrent InformationSocial and Cultural EnvironmentPolitical and Legal Environment

Develop Marketing Strategies

Marketing Research Assists Decision Making

QuotesFor all the money we spend on marketing,

we know very little about our customers.Robert Thomas, president of the automobile firm Nissan Motor Corporation U.S.A, quoted in wall Street Journal, December 9, 1996

Our research showed that almost everyone has a can or two of Campbells soup in the cupboard. The problem was to eat the soup.

Del Macaulay, former package design chief of Campbells quoted in Worth, May 1995.

Marketing Research DefinedMarketing Research- is the process of:

DesigningGatheringAnalyzingReporting Information that may be used to solve

a specific marketing problem.

Marketing Research Process

The Role of Marketing ResearchRole of Marketing Research- is to provide

information that facilitates marketing decisions.

Without research it is hard for management to make sound marketing decisions or to implement the marketing concept

Increases Probability of Success

The Role of Marketing Research Marketing research is used by

management to:1. Identify and define marketing opportunities. 2. Generate and refine marketing actions.3. Monitoring marketing strategies.4. To improve our understanding of the

marketing process.

The Role of Marketing Research Marketing research is used by

management to:1. Identify and define marketing opportunities. 2. Generate and refine marketing actions.3. Monitoring marketing strategies.4. To improve our understanding of the

marketing process.

Characteristics of Marketing Research

Applied or Basic Research? Applied Research- we mean that the research

is undertaken to solve a specific problem. Basic Research- we mean that research is

undertaken for the sake of extending knowledge.

Sometimes Inaccurate Shaped by budgets and time constraints.

Types of Marketing Research Studies Marketing research studies can be

classified by the functions of management: Analysis/planning

Identifying opportunities and market demand. Implementing

Studies conducted to implement the four Ps. Controlling

How well a marketing strategy is going.

The Marketing Information System

MIS- is a structure consisting of people, equipment, and procedures to gather, sort, analyse, evaluate and distribute needed, timely, and accurate information to marketing decision makers.

The Marketing Information System Components of an MIS:

1. Internal Reports System. 2. Marketing Intelligence.3. Marketing Decision Support.4. Marketing Research System.

The Future of Marketing Research Marketing research is undergoing vast

changes. Technology advances Internet Information is power. Future of marketing research is bright.

Summary The marketing concept is a philosophy that states

that the key to business success lies in determining and fulfilling consumers wants and needs.

Marketers practicing the marketing concept need information to develop strategies to satisfy consumers needs and wants.

Environmental changes mean that marketers must constantly collect information to monitor customers, markets and competition.

We define marketing research as the design, gathering, analyzing, and reporting of information to solve a specific problem.

You are welcome to contact Nigel Bairstow at B2B Whiteboard your source of B2B Asia / Pacific marketing advice

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