MARKETING

MARKETING RESEARCH
- is a function under business organization’s Marketing Information
System (MIS). MIS is primarily responsible for the gathering, analysis, and
timely distribution of information for the use of marketing decision
makers.
Definition:
- Marketing research is the function responsible for acquiring and
evaluating market and consumer-based information for decision making
and the determination of marketing strategic direction.
The Purpose and Importance of Marketing Research
- companies have complete information about their products from
production to distribution. However, it is a challenge for the companies to
know what happens to the product after it was purchased.
The following are some issue that can be addressed by marketing research:
1. Identify viable new products and services
2. Enable risk production
3. Identify market opportunities and threats
4. Determine the level of customer satisfaction
5. Pinpoint and anticipate market trends or changes
6. Decide on the best advertising medium
7. Pre-test and post test advertising and promotional campaigns
8. Evaluate the results of test marketing
9. Evaluate the results of packaging, brand name, and label testing
10. Determine consumer price awareness and sensitivity
11. Undertake location studies
STEPS IN THE MARKETING RESEARCH PROCESS
• Re\\
Research Problem/ Establishment Research
Need Opportunity of research Design
determination definition objectives determination

Sample size and Data Determination Information

Sampling plan Collection Of data access Source/types
Determination Forms design methods identifications

Data Report
Data
analysis Preparation and
Collection
presentation
Step 1: Research need determination
This initial step in the marketing research process is necessary in
order to save effort, time, and cost.
Step 2: Problem/opportunity definition
Both problem and opportunities can be subjects of marketing
research. However, to set the general research direction and operational
parameters, the problem/opportunity must be defined precisely.