Introduction to Marketing Research

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Because Marketing Research is part of Marketing we should understand:
‡ What is marketing? ‡ What is the marketing concept? ‡ What is marketing strategy?

Ch 1

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What is Marketing? ‡ Marketing has been defined by the AMA as an organizational function and a set of processes for creating. Ch 1 3 . communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

delivering. and communicating customer value to its chosen markets.What is the Marketing Concept? ‡ The Marketing Concept is a business philosophy that holds that the key to achieving organizational goals consists of the company¶s being more effective than competitors in creating. Ch 1 4 .

and distribution system to meet the wants and needs of the consumers within the target market. promotion. price. Ch 1 5 .What is Marketing Strategy? ‡ A Marketing Strategy consists of selecting a segment of the market as the company¶s target market and designing the proper ³mix´ of the product/service.

Learning by Doing: Let¶s Apply Marketing to a Restaurant ‡ Target market segment? ‡ Marketing strategy ± Location? ± Menu? ± Prices? ± Type? ± Advertising? Ch 1 6 .

Restaurant Marketing Decisions ‡ What if you owned a restaurant located in Delhi. Punjab near the Delhi University ? ‡ What would be your marketing strategy? ‡ How certain are you that you made the right decisions? Ch 1 7 .

Italy.Restaurant Marketing Decisions ‡ What if the restaurant was located near a university in a foreign country like China. what¶s going on? Class comments? Ch 1 8 . or Peru? ‡ What would be your decisions? ‡ How certain are you that you made the right decisions now? ‡ So. Thailand. Iceland.

managers must make decisions. to implement the marketing concepts. ‡ Many decisions require additional information and marketing research is needed in order to supply that information.Key Point ‡ To practice marketing. Ch 1 9 . to implement marketing strategy.

We need Marketing Research to: ‡ ‡ ‡ ‡ Make the ³right´ decisions to Implement marketing Practice the marketing concept and Make the right decisions to select the right marketing strategy Ch 1 10 .

analyzing. gathering. and reporting information that may be used to solve a specific marketing problem.What is Marketing Research? (Burns and Bush Definition) ‡ Marketing research is the process of designing. Ch 1 11 .

refine. and improve the understanding of marketing as a Ch 1 process. customer. and public to the marketer through information ± information used to identify and define marketing opportunities and problems. 12 . monitor marketing performance.What is Marketing Research? AMA definition ‡ Marketing research: the function that links the consumer. generate. and evaluate marketing actions.

´ Ch 1 13 . and analyzing of data with respect to a particular market. where µmarket¶ refers to a specific group in a specific geographic area. recording. Marketing Research ‡ Market research: the ³systematic gathering.Market Research vs.

What is the purpose of Marketing Research? ‡ To link the consumer to the marketer by providing information that can be used in making marketing decisions Ch 1 14 .

refine. and evaluate potential marketing actions ‡ Monitor marketing performance ‡ Improve marketing as a process Ch 1 15 .What are the uses of Marketing Research? ‡ Identify marketing opportunities and problems ‡ Generate.

Classifying Marketing Research Studies ‡ Identifying marketing opportunities and problems ± Market-demand determination ± Market segments identification ± Marketing audits SWOT analysis Ch 1 16 .

and evaluating potential marketing actions ± Proposed marketing-mix evaluation testing ± New-product prototype testing ± Advertising pretesting Ch 1 17 .Classifying Marketing Research Studies ‡ Generating. refining.

Classifying Marketing Research Studies ‡ Monitoring marketing performance ± Image analysis ± Tracking studies ± Customer satisfaction studies Ch 1 18 .

analyze. Ch 1 19 . and accurate information to marketing decision makers. and procedures to gather. sort. and distribute needed. timely. evaluate. equipment.The Marketing Information System ‡ An MIS is a structure consisting of people.

‡ Marketing Intelligence System.. etc..Components of an MIS ‡ Internal Reports System« Accounting information system«data from income statement. Information coming from outside the firm« ‡ Marketing Decision Support System (DSS)«database with analytical tools ‡ Marketing Research System Ch 1 20 .

The Marketing Research System has a role in MIS because« ‡ It gathers information not gathered by the other MIS component subsystems. Ad Ch 1 21 hoc studies/Projects . ‡ Marketing research studies are conducted for a specific situation facing the company. People Magazine study ± which of three different cover stories should we use? ‡ Marketing research projects unlike other MIS components are not continuous ± they have a beginning and an end.

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