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PRINCIPLES OF MARKETING
QUARTER 3 – MODULE 5

Marketing Research

Prepared by:

MONALYN C. DE VERA

Teacher II
Lesson Objectives:

At the end of this module you will be able to:

1. Define marketing research;
2. Identify the steps in marketing research;
3. State its importance to a business enterprise.

What is Marketing Research?

• Marketing research is the systematic collection, analysis, and interpretation

of data pertaining to the marketing conditions.
• It is the process of evaluating the feasibility of a new product or service,
through research conducted directly with potential consumers. This method
allows organizations or businesses to discover their target market, collect and
document opinions and make informed decisions.
• Market research can be conducted directly by organizations or companies or
can be outsourced to agencies which have expertise in this process.
The basic reason for carrying out the marketing research is to find out the
change in the consumer behaviour due to the change in the elements of the
marketing mix (product, price, place, promotion). The information obtained from
conducting market research can be used to tailor marketing/ advertising activities
or to determine what are the feature priorities/service requirement (if any) of
consumers.

Marketing Research Process

To start with the market research, following steps has to be observed:

1. Define the Problem. The foremost
decision that every firm has to undertake
is to find out the problem for which the
research is to be conducted. The problem
must be defined adequately because if it
is too vague, then it may result in the
wastage of scarce resources and if it is too
narrow, then the exact conclusion cannot
be drawn. In order to define the problem
appropriately, each firm must have a
clear answer to the questions viz. What is
to be researched (content and the scope)?
And why the research is to be done
(decisions that are to be made)?
2. Develop the Research Plan - This step
involves gathering the information
relevant to the research objective. It
includes:
a. Data Sources.
b. Research approaches
c. Sampling plan
d. Contact methods
 3. Collect information. This is one of the most expensive methods of marketing
research. At this stage, the researcher has to adopt the methods to collect the
information, he may find it difficult to gather the correct information because of
the respondent’s biasedness, unwillingness to give answers or not at home.
4. Analyze the Information. Next step is to organize the collected information in
such a way that some analysis can be obtained. The researchers apply several
statistical techniques to perform the analysis, such as they compute averages
and measures of dispersion. Also, some advanced decision models are used to
analyze the data.
5. Present the Findings. All the findings and the research are shown to the top
management level viz. Managing director, CEO, or board of directors to make
the marketing decisions in line with the research.
6. Make the Decision. This is the last step of the marketing research, once the
findings are presented to the top level management it is up to them either to rely
on the findings and take decisions or discard the findings as unsuitable.

Types of Market Research

1. Primary Market research. (A combination of both qualitative and quantitative

research). It is the process, where organization or businesses get in touch with
the end consumers or employ a third party to carry out relevant studies to
collect data.
2. Secondary Market Research. It uses information that is organized by outside
source like government agencies, media, chambers of commerce etc. This
information is published in newspaper, magazines, books, company website,
free government and nongovernment agencies and so on.

Why is Marketing Research Important?

Here are the reasons why market research is important and should not be ignored:

• It provides information and opportunities about the value of existing and new
products, thus, helping businesses plan and strategize accordingly.
• It helps in determining what the customers need and want. Marketing is customer-
centric and knowing the customers and their needs will help businesses design
product or services that best suit them.
• By understanding the needs of customers, businesses can also forecast their
production and sales. One of the most difficult aspects for a production manager
is to keep inventory stacked. What is the requirement and how much should be
produced to fulfill the needs of the customer? Market research helps in
determining optimum inventory stock.
• To stay ahead of competitors, market research is a vital tool to carry out
comparative studies. Businesses can device business strategies that can help them
stay ahead of their competitors.
Name: ______________________________________________________Date: _____________
Grade/Section: _________________________________________________________ Score:____________

Title of the Activity: Marketing Research

Most Essential Learning Competency:
Define marketing research, its importance to a business
enterprise, and identify the steps in marketing
research (K-12 BEC CG: (ABM_PM11-Ie-i-11)

Directions: Fill in the blanks. Arrange the jumbled words to

answer the blanks in each item.

1-2. The basic reason for carrying out the marketing research is to find
out the change in the consumer ________ (u r i e a h b v o ) due to the
change in the elements of the _____________ (e n k i g m t a r i m x ).

3. All the findings and the research are shown to the ______________
(p o t m a n g t m e a e n ) level viz.
4. Collecting information is one of the most __________ ( e i v e p n e x s )
methods of marketing research

5-8. Marketing research is the _________ ( s e s c r o p ) of evaluating the

_____________ ( y a i s i b e t l f i ) of a new product or service, through
_____________ ( s c r h r e e a ) conducted directly with potential
_________ ( o s r n m s e u c ) .

9-10. ______________ ( t e k m a r r e e c r a h s ) can be conducted

directly by organizations or companies or can be outsourced to agencies
which have __________ ( e r i e x t s p e ) in this process.

Direction: Sequencing. Number the steps in marketing research to its

chronological order. Put your answer on the space provided.

______ Analyze the collected data

______ Define the problem
______ Collect the information
______ Present the findings & make decisions
______Developed a research plan
Name: ______________________________________________________Date: _____________
Grade/Section: _________________________________________________________ Score:____________

Title of the Worksheet: Marketing Research

Most Essential Learning Competency:
Define marketing research, its importance to a business
enterprise, and identify the steps in marketing
research (K-12 BEC CG: (ABM_PM11-Ie-i-11)

Direction: Read and analyse each statement carefully. Choose the

letter of the correct answer, write it on the space provided before the
number.

______1. What is the first step in the marketing research process?

a. Analyze results c. Define the problem

b. Experiment d. Conduct a survey

______2. Which of the following is an example of a primary data source:

a. Inventory reports c. Survey

b. Sales Reports d. Expense reports

______3. Which of the following isn’t collecting qualitative data?

a. Do you like chocolate or vanilla, -yes or no?

b. Describe the kind of toppings do you like on your pizza
c. Why should phones be banned during school?
d. How should you discipline a child?
______4. Maddle is creating a survey to determine student’s favourite place to
shop. This type of research is:
a. Primary b. Sales c. Secondary d. Product
______5. Which of the following is not the reason businesses use marketing
research?

a. Identify market opportunities

b. Monitor market performance
c. Solve Marketing problems
d. Deciding when staff should have team meetings
______6. Which of the following are types of primary research?

a. Websites, newspapers, books, articles, magazines and

census
b. Questionnaires or surveys, observations, interviews, trials,
and focus groups

______7. Which of the following are types of secondary research?

a. Websites, newspapers, books, articles, magazines and
census
 b. Questionnaires or surveys, observations, interviews, trials,
and focus groups
______8. Internal secondary data may come from all of the following EXCEPT:

a. Inventory reports c. quarterly sales reports

b. New customers surveys d. Customer data
______9. Which is the order of the marketing research process?

a. Collect data; analyze the problem; design the research;

evaluation of the plan; define the sample
b. Analyze data; act on the plan; design the research; evaluation
of the plan
c. Define the problem; design the research; collect data; analyze
data; make recommendations for a plan of action; evaluation
of plan
d. Act; analyze; evaluation; define; plan
______10. The plan of action from marketing research doesn’t require
evaluation. If the marketing research process is followed appropriately,
it is always a success.
a. True b. False

Reflective Essay: Make a five (5) sentence paragraph that

define marketing research.
Rubric:
5- If the paragraph consists of 5 or more sentences with correct
and complete Information.
4- If the paragraph consists of 3 to 4 sentences with correct
information.
3- If the paragraph consists of 2 to 3 sentences with correct
information.
2- If the paragraph consists of 2 sentences with correct
information
1- If the paragraph consists of only one sentence with correct
information.
ANSWER KEY

Activity 1: Fill in the blanks

1. behaviour 6. feasibility
2. marketing mix 7. research
3. top management 8. consumers
4. expensive 9. Market research
5. process 10. expertise
Activity 2: Sequencing

4 Analyze the collected data

1 Define the problem
3 Collect the information
5 Present the findings & make decisions
2 Developed a research plan

Worksheet 1:
1. C 6. B
2. C 7. A
3. A 8. B
4. A 9. C
5. D 10. B

Worksheet 2:
(Answer may vary). Refer to rubric.
5- If the paragraph consists of 5 or more sentences with correct
and complete Information.
4- If the paragraph consists of 3 to 4 sentences with correct
information.
3- If the paragraph consists of 2 to 3 sentences with correct
information.
2- If the paragraph consists of 2 sentences with correct
information
1- If the paragraph consists of only one sentence with correct
information.
REFERENCE

AB Ilano. (1977). Principles of Marketing .Manila, Philippines: Rex Book Store

Keller (2017). Principles of Marketing. Larsen & amp;,

Business Jargons. Marketing Research.

https://businessjargons.com/marketing-research.html

Imsmarketing. Why is market research so important?

https://www.imsmarketing.ie/market-research/why-is-market-
research-so-important/