C.

MARKETING RESEARCH
MARKET INFORMATION SYSTEM (MIS)
 Is the people, equipment and procedures used to gather, sort, analyze, evaluate, and
distribute needed, timely, and accurate information to marketing decision-makers.
“Components of MIS”
1. Internal Records – this refers to documents in the company’s Order-to-Payments cycle,
such as invoices, shipping orders, etc.
 It also avails documents and resources that comprise the
sales information system, such as sales forecasts, information
from sales personnel, and culled from automated sales
system.
2. Marketing Intelligence – these are set of procedures and sources used by managers to
obtain everyday information about developments in the marketing environment.
3. Market Research – this refers to the systematic design, collection, analysis, and
reporting of data and findings relevant to a specific marketing situation facing the
company.

RESEARCH PROCESS
*Sample Questions:
a. Who are our typical buyers?
b. Where do our buyers come from?
c. How big is our market?
d. What are our customers’ aspirations?
e. How do our customers shop and with whom?
f. What do our customers buy?
g. Why do customers refuse to buy our products?

*The processes involved in conducting market research:

a. Define the Problem and Research Objectives
b. Develop the Research Plan
*Components:
b.1. Data Sources
 Secondary Data – involves the gathering of prior and related research
works since it is possible that other parties have already developed
useful findings on the matter being studied.
 Primary Data – involves actually undertaking the research itself in
order to get first-hand knowledge on the matter.
b.2. Research Approaches – it can be conducted through observation, focus groups,
survey research, behavioral data, and experimental research.
b.3. Research Instruments – these include questionnaires or mechanical instruments
such as video recorders.
b.4. Sampling Plan – this addresses with:
 Sampling Unit (Who is to be surveyed?)
 Sampling Size (How many people should be surveyed?)
 Sampling Procedure (How should they be chosen?)
b.5. Contact Methods –
 Survey Sample (personal or impersonal means)
 Mail Questionnaires
 Telephone Surveys
 Personal Interviews
 Internet
c. Collect the Information
d. Analyze the data
e. Present the findings

RESEARCH METHODS

1. OBSERVATION – is best to use when trying to answer questions involving how a market behaves.
2. SURVEY RESEARCH – is best to use when trying to determine a market’s opinions, perceptions, and
basic demographic data.
3. FOCUSED GROUPS – are useful for gathering strong opinions and beliefs from a given target market.
4. EXPERIMENTAL RESEARCH – is a means of answering hypothesis through the use of an experiment.

BIAS – is the tendency of data to skew toward a particular direction.