Marketing Research

Lecture 1
 MARKETING
• Purpose of Marketing is to allow a firm to
plan and execute the pricing, promotion
and distribution of products and services in
order to create exchanges that satisfy both
the firm and its customers.
• Marketing managers try to get the right
goods and services to the right people, at
the right place and time, with the right price
through the right promotion.
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 Strategic Marketing Planning &
Marketing Research
• It’s a big job….but someone has to do it
• Decision, decisions, decisions!!!
• Broad Question
– What markets should we penetrate?
– What products should we introduce?
– What new business opportunities should we pursue?
• Narrow Questions
– Is our new advertising campaign generating awareness?
– How is our brand positioned in the competitive
landscape?
– What is our most productive segment?
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Task of Marketing Management

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The environment of the marketing
process

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Marketing Intelligence Systems

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How Marketing Research Helps
a Marketing Manager

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Kinds Of Questions Marketing
Research Can Help Answer

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 Information That Managers
Need From Customers
• Target Market: What is the best target
market? Its size, description, attitudes,
opinions, preferences, & lifestyles.
• Product/services: how satisfied are the
current customers & what further they
desire with respect to the product/
service

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• Price: What value is perceived by the customers?
Which other products they are willing to substitute
for the product. What benefits, appeals or
features does organization's product have that
might allow it to charge a higher price.
• Distribution: what distribution channel is the
target market most likely to use when purchasing
the product in question? Will the channel be able
to provide the services or support needed for the
product?
• Promotion: what can the organization say in its
advertisements about its product that will appeal
to the target market and lead them to consider
product to be more attractive?
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What Is Marketing Research
Marketing research is the function which
links the consumer, customer and public to
the marketer through information-
information used to identify and define
marketing opportunities and problems:
generate, refine, and evaluate marketing
actions: monitor marketing performance:
and improve understanding of marketing
as a process.
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Marketing Research specifies the
information required to address these
issues: designs the method for collecting
information: manages and implements the
data collection process: analyze the
results: and communicates the findings
and their implications.

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 The Value of Marketing Research
Information
• Marketing research identifies new
approaches & evolving processes.
• Marketing research allows a business
enterprise to make confident, cost
effective decisions.
• Marketing research helps build & manage
relationships with customers.

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Lecture 1
 Phase 1
Setting Goals & Establishing
Strategies
Research can monitor:
Dissatisfactions & needs in
relevant market segments
Demand size & trend
Industry/market structure &
composition, competition,
market shares &
profitability
Technological & materials
innovation
Supply conditions & prices
Distribution, environmental &
legal developments
Phase 2 Phase3 Phase4
Developing Plan Putting Plan into Action Evaluating the Plan’s
Effectiveness
Research can: Research can monitor:
Identify key market segment Total industry & product End period compilation
by product category class sales & aggregation of
operating data to
Identify market segment Firm’s sales, by product &n
present an accurate
attitudes toward present market
picture of
products, promotions, &
performance. Also,
advertising
summary of survey
Test the appeal of potential Product availability in retail findings on
product attributes stores, shelf space, retail consumer
support, & so on awareness trial,
attitudes,
preferences,
Test the effectiveness of The cost & effectiveness of
repurchase rates, &
advertising & promotion the firm’s marketing
so on
efforts, by product &
market, & by
advertising, promotion,
& so on
Evaluate the needs & attitudes Awareness & trial in relevant
of channel members market segments
Changes in competitive
spending levels &
strategies, including
price, package, 14
promotion, & so on
 Strategic Planning Process &
Related Marketing Research Tasks

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