introduction to marketing research. lesson objectives define marketing research identify uses and...
TRANSCRIPT
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
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
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 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 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?