MARKET RESEARCHCHAPTER 5

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B2C vs. B2B Market Research

2Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5Published by Routledge 2013

• A Marketing Information System – integrated approach to developing, storing and using information. – Include market research, internal and external

data sources.– Information is placed in “data warehouse”.– Effective Decision Support System (DSS).

Marketing Information System (MkIS)

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The Marketing Research Process

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Internet Business Information Sources

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Published by Routledge 2013

Developing Primary Data

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Developing Primary Data

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Fig. 5.1 Cost vs. speed in surveys

B2B Survey Methods

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Sampling• Random sampling is difficult due to small number

of potential respondents.

• Stratified random sampling is common.

• In many markets 100% review of the population is possible.

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Developing Questionnaires• Introduction should be succinct and should let the

respondents know why their answers are important.

• Questions should be in a logical order.• For telephone and mail surveys, closed questions

are best.• For interviews and focus groups, open questions

are best.• Avoid double questions.• Keep language simple and jargon-free.• Allow for “don’t know” responses.• Avoid hypothetical questions.

10Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5Published by Routledge 2013

Analyzing Data

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Development of Market and SalesForecast

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Fig. 5.2 Development of market forecast and sales forecast

Time Series Analysis

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Common Sales Forecasting Techniques

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Organizing for Market Research

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Fig. 5.3 Sample research proposal

Managing Research Projects

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The Benchmarking Process

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Fig. 5.4 The benchmarking process

Exhibit 5.1

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Customer market survey

Summary

19

• Market research is critical to effective business marketing program.

• Developing an effective marketing information system and a decision support system requires consistent effort.

• The most important step in developing market research is finding what kind of information is needed.

• Research is used to develop critical ratios, which are applied to known data to develop market potential.

• Composite method and scenario analysis are used in research. • Many firms have combined centralized and decentralized

approach to research.• To be successful, a project must have the support of top

management. • Benchmarking is the process of identifying best practices in

organizations. • Important to have an action plan in order to establish real

competitive advantage.Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5

Published by Routledge 2013