lecture 1_introduction to marketing research

8/2/2019 Lecture 1_Introduction to Marketing Research

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MKTG 6030 –

Marketing Research

Lecturer: Grace-Anne Jackman, PhD



Super Bowl 2012

http://www.youtube.com/watch?v=Ae52ourE3P

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http://www.youtube.com/watch?v=8nRu0-dLK1A

http://www.youtube.com/watch?v=STb6ZSo5CPw

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Session Objectives

• Review the history of Marketing Research

• Review the marketing concept and the

marketing mix

• Define Marketing Research

• Discuss the purpose and uses of Marketing

Research• Discuss when marketing research should and

should not be conducted

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History of Marketing Research

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vs.

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Marketing Research

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Anybody

Can Do It

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Role of Marketing Research

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Marketing

MarketingConcept

MarketingStrategy

MarketingResearch

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AMA Definition of Marketing Research

Marketing research is the function that links theconsumer, customer, and public to the marketerthrough information--information used to identify anddefine marketing opportunities and problems;

generate, refine, and evaluate marketing actions;monitor marketing performance; and improveunderstanding of marketing as a process.

Marketing research specifies the information requiredto address these issues, designs the method forcollecting information, manages and implements thedata collection process, analyzes the results, andcommunicates the findings and their implications.

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Important Aspects of the Definition

• Links customers, consumers, and the public tomarketers through information

• Logical, systematic, empirical and replicable

process – Designing methods for collecting information

– Managing the information collection process

– Analyzing and interpreting results

–

Communicating findings to decision

• It aids in decision-making – BUT it doesNOT make decisions!

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Uses of Marketing Research

• Identify and define marketing problems and

opportunities accurately

• Understand markets and customers and offer reliable

prediction about them• Develop marketing strategies and actions to provide

a competitive edge and refine and evaluate them

•

Monitor marketing performance• Improve the understanding of marketing as a process

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Research by

Type of Marketing Mix

Decision

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Research by Stage in Product Life Cycle

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Planning and

Research

Process forNew Product



Customer Satisfaction Research

• How satisfied are our customers?

• How do our customers rate on thesecharacteristics?

• How loyal are our customers?

–How likely are they to use our services/products again?

– How likely are they to recommend us to others?

– How likely are they to switch to one of our competitors?

• What are areas of strengths and weaknesses

compared to the competition?

• Where do we need to improve?

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Why Do Marketing Research?

• To guess is cheap, to guess wrongly is expensive!” (Chinese proverb)

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How to Get Optimal Results from the

Marketing Research Process

• Clear problem or opportunity definition

• Clearly stated and accurate researchobjectives

• Well laid-out research design

• Efficient and effective data collection method

• Utilization of proper data analysis techniques

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How to Get Optimal Results from the

Marketing Research Process

• Findings are accurate, reliable, and defensible

• High ethical standards are applied

•Limitations are explicitly stated

• Decision maker’s information is well written

and accurately presented

• The study measured what it intended tomeasure

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Deciding Whether to Conduct

Marketing Research

• Lack of required resources

• Poor timing in the marketplace

• Decision has already been made

• Managers cannot agree on needed information

• Needed information already exists

• Costs outweigh benefits

• Lose element of surprise

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Value Should Exceed

Estimated Costs

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• Decreased uncertainty

• Increased likelihood of a correct decision

• Improved marketing

performance and

resulting higher profits

•Research expenditures

• Delay of marketing

decision and possible

disclosure of

information to rivals

• Possible erroneous

research results

Value

Costs

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In-class Activity

and Presentations

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lecture 1_introduction to marketing research

Documents