 Identify the different sources of marketing

information
 Define marketing research
 describe the importance of market research
to a business enterprise; and
 Identify the steps in conducting market
research.
Marketers need research in order to get to know
their customers better. Business owners need to
study the viability and feasibility of their business
before investing money in putting it up. Thus, in
target location they need to study the population
density, demographic characteristics such as age
and gender, and psychographic characteristics
such as behavior and preferences. These piece of
information do not only help them to make
informed decisions on whether to pursue the
business or not, but can also help them
communicate with and understand their
customers better.
Companies are gathered marketing insight in
from their customer to provide a well suited
product and marketing campaign for them.

These insight include

PURCHASE BEHAVIOR
PERSONAL PREPERENCES
LIFE STYLE CHOICE
and other information that may be useful for
these companies in crafting their campaigns.
 Using customer insight to suit marketing program
is important in building a good relationship with
consumers. This may lead to customers loyalty
and positive brand image.

EXAMPLE:
 A global brand of soda understands the struggle
of overseas Filipino workers missing their families
in the Philippines, specially during Christmas,
Capitalyzing on this vital information, this
company gave surprise gifts to selected OFWS
and created a touching video advertisement
 MIS can provide information that suits the
need of the management and trade partners
such as suppliers, retailers, resellers and
marketing agencies.
 MIS must able to balance the information.
 Marketing department must need to know
about the failure of the company on social
media that the management may not know.
 MIS must be able to provide insights about the
situation for the reputation of the management.
(Damage Control)
INTERNAL DATA
– it can be built by collecting consumer and
marketing information electronically. These
data can be valuable source of information and
can create a competitive advantage for the
company. Internal data base can be accessed
and proceed more quickly and cheaply than
other information sources.
COMPETITIVE MARKETING INTELLIGENCE
- Is the systematic collection and analysis of
publicy available information about
consumers, competitors, and developments in
the market place ( Kotler and Armstrong,2014 )

- Its goal is to provide valuable information about

consumers, competitors, and the industry so
management can carefully make strategic
decisions based on actual trends and scenarios.
 Observing customer behavior and reactions
 Casually chatting with customers on product
effectiveness
 Monitoring online feedback and conversation
of customers
 Benchmaking competitors’ product with
company’s own
 Monitoring marketing activities and expenses
of competitors
 Monitoring online engagement of competitors
MARKETING RESEARCH

- Is the process of planning, collecting, and analyzing data

relevant to a marketing decisions ( Lamb, Hair, and
McDaniel, 2012 )

- It is the systematic design, collection, interpretation, and

reporting of information to help marketers find
marketing opportunities, segment their markets and
make informed marketing information (Pride and Ferrell,
2016)

- Marketing research helps companies respond to trends

and shifts in consumers behavior and it helps them
respond better to competition.
Identify the Analyze
research Develop the data and Prepare the
problem research Collect data interpret research
and design. research report
objectives. findings
First Step: Identifying the Research Problem and
Objectives

A research problem can be an issue to be resolved, a

challenge to be addressed, a difficulty to be
eliminated, or an area of concern for the company.
For example, if a company experiences losses during
a peak season , it may want to investigate the cause
of losses to act upon it; or if a company posts
unusually high sales during an off-peak season, it
may want to investigate further to capitalize on the
sudden increase in sales. Either way, a company
needs valuable data in order to make marketing
decisions.
 The objective expresses the specific goals that the
research wants to achieve. This will serve as guide
throughout conducting the research.

The objective of the research usually dictates the type

of research that you are going to do.

Exploratory Research
- The objective is to collect additional information to
help understand the problem better and to suggest
hypotheses.
Exploratory Research
An example of this type of research in marketing is a
study on which celebrity is a better endorser of its
brand based on how the customers think of the
celebrity. In this particular study, you will explore
how the general image of a certain celebrity (e.g.,
wholesome, sexy) and how the consumers would feel
if this celebrity endorses the brand or the product.

Descriptive Research
The objective is to describe or understand the
characteristics of, for example, the target market of a
product.
Descriptive Research
An example of this type of research is a study of a
company who wants to introduce a new brand of ball
pen to high school and college students. In this
particular study, the company would want to know
the ball pen consumption behavior of students– when
they use it and what they use it for (note-taking,
doodling, art making etc.)– and the features that they
look for in a ballpen (can be erased, does not blot,
does not bleed, etc.).
Causal or Experimental Research
The objective is to test the effect of a variable.

This type of research looks to test the hypotheses in

cause and effect relationships

An example of this is a study on the effects of

increasing the price of fried chicken of a fast-food
company from P79 to P89. Will consumers still buy it?
Will the demand decrease? Will people patronize its
competitors instead?
 Second Step: Developing the Research
Design
The research design determines the specific plan in
order to obtain the needed information to address the
research problem. In this step, the management or the
researcher needs to make important decisions such as
the research approach, data collection method, and
needed instruments.
 Third Step: Data Collection
After the research proposal has been approved, the
next process is data collection design determines the
specific plan in order to obtain the needed.

Two types of data in research

 Primary Data consist of information collected
specifically for the research. Examples are data from
survey or interviews.
 Secondary Data are existing information collected
for reasons other than the specific research.
Secondary data include internal data, or data that can
be found within the company such as sales history,
existing research projects, and costumer database;
and external data or data collected by an outside
organization such as population statistics, published
articles, and commercial data being sold by research
companies.

Qualitative research generate data that give

descriptive, nonstatistical information. This is usually
generated by asking open-ended questions (questions
with no choices; it is up to the responded to come up
with the answer. )
Quantitative research yields empirical and statistical
information. This is usually generated by asking
questions with choices. (questions with no choices; it
is up to the responded to come up with the answer.

Sampling is systematically choosing the

respondents to represent a portion of the
population.
Sample refer to the group of respondents chosen
through any sampling method.
Probability Sampling where everyone in the
population being studied has a known chance of
being selected as a responded and result are more
likely to accurately reflect the entire population.

Nonprobability Sampling which is more subjective

and makes little attempt to get a representative cross
section of the population.

Different Data Gathering Procedure

 Online surveys or surveys conducted in any online
platform such as e-mail, social media, or Web sites
 Telephone survey the researcher records or takes
note of the answer of the respondent over a phone
line.

 Mail surveys ta printed questionnaire is sent to the

respondents. They are asked to send back the
completed questionnaire to the company or the
researcher, which is why mail surveys usually yield a
low response rate.

 Personal interviews participants answer face to

face.
 Fourth Step: Data Analysis and
Interpretation
This is where conclusions will be based on. The
purpose of analysis and interpretation is to transform
the data collected into information that will be useful
in addressing the research problem. Tabulating
results and using analysis software help in generating
statistical output. Statistical interpretation focuses on
what is typical or common in the data generated and
on what deviates from the average.
A research has validity if it collects the appropriate
data for the study. It has reliability if it yields the
same findings in repeated trials.
Fifth Step: Preparation and Presentation of a
Research Report
The research report is formal, written document
submitted to the top management or the office that
requested for the research to be done. These decision-
makers often need accurate, detailed but concise
information, thus, as a researcher you must determine
how much detail and supporting data are needed for
decision-makers.