GARCIA, DARLENE JANICA F.

FEBRUARY 16, 2019

MBBA-500 BUSINESS RESEARCH DR. CORAZON B. CABRERA

MARKETING AND PRODUCT PROMOTION

RESEARCH
WHAT IS MARKETING?

The process of creating and delivering desired goods and services to customers and involves all of the
activities associated with winning and retaining loyal customer.

MARKET RESEARCH

 It is the vehicle for gathering the information that serves as the foundation for the
marketing plan
 It involves systematically collecting, analyzing and interpreting data pertaining to a
company’s market, customers and competitors
 It’s objective is learn how to improve the level of satisfaction for existing customers and
to find ways to attract new customer.

11 STEPS OF MARKETING RESEARCH PROCESS

 Establish the need for marketing research

 Define the problem
 Establish research objectives
 Determine the research design
 Identify information types and sources
 Determine the methods of accessing data
 Design data collection forms
 Determine sample plan and size
 Collect data
 Analyze data
 Prepare and present the research report

WHAT QUESTION CAN BE ANSWERED THROUGH MARKET RESEARCH?

 Who are my target audience?

 What do they need?
 What are their wants?
 Which geographies have sales potential?
 What can be the distribution channel?
 Why they will need/want my product and services?
 Who will be our competitors?
 How’s the market environment?
 What can I do to make my product an service more attractive?
  What are Government rules and regulations in my target market?
 What is the best entry strategy for my target market?

PROMOTION RESEARCH

Refers to any type of marketing communication used to inform or persuade target audiences of the
relative merits of a product, service, brand or issue. The aim of promotion is to increase awareness,
create interest, generate sales or create brand loyalty.

PRODUCT

Product refers to the goods or services you are offering. You might consider a range of factors such as
packaging, labelling, branding and quality when developing your product.

PRICE

Setting a suitable price for your products or services will help you to be profitable and stay competitive.
Start by including all the costs associated with producing and delivering your products and services, then
research your target market to determine how much they would be willing to pay. If there is a gap you
have more work to do – perhaps reducing your costs or focusing on a different market

PROMOTION

Promotion refers to the methods you will use to advertise and sell your products and services.
Promotional methods may include:

 website
 social media
 blogging
 e-newsletters
 networking
 brochures and flyers
 TV, radio or print advertising
 word of mouth
 loyalty and reward programs
 cold calling
 mail-outs and letter drops
 sponsorship
 PR activities such as media releases and events

PLACE

This aspect of marketing refers to how your customers will be able to purchase your products or
services. Distribution channels may include:
 • retailing direct to the public through a store or outlet

• selling goods via wholesalers

• retailing online

• using distributors, consultants or agents to sell your products

• When deciding which channel to use, consider your target market and the logistics involved in
getting your products and services to them

PEOPLE

• You will most likely have to engage with suppliers, distributors, wholesalers, stakeholders and
employees to get your product or services to market. These groups all form part of your team.
You need to ensure they understand the importance of providing quality products and customer
service.

PROCESS

The right customer service and business processes are essential to support your marketing
goals. They may include procedures for ordering new stock, ensuring products or services are
delivered in a timely manner, providing opportunities for customers to give feedback and
regularly reviewing sales and financial reports.

UNDERSTANDING MARKET METRICS

To test to see if your marketing is successful, It is necessary to measure where you were and where you
are now. This can be carried out with long-term tracking studies monitoring your market position and
charges to your brand image overtime or, particular campaigns, measuring pre-and post- event to see
what has changed.