IPE 2111:Legal Issues and

Management for Engineers

Lecture Series on Marketing Management

Course Instructor:
Md. Zahidul Islam
Lecturer, Department of IPE, RUET
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Conducting Marketing Research

Discussion Questions

1. What constitutes good marketing

research?
2. What are the best metrics for
measuring marketing productivity?
3. How can marketers access their
return on investment of marketing
expenditures?

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 Marketing Research System
Market Research

Insight

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 ed
fi n
De
Marketing Research

The systematic design, collection,

analysis, and reporting of data and
findings relevant to a specific marketing
situation facing the company.
 Creative Research Means
Check out rivals
Internet sources

Rivals

Marketing partners

Student projects
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 . 1
4
u r e Marketing Research Process
F ig

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Step 1: Define the Problem

Focused inquiry

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 Step 2: Develop the Research Plan
Research Approaches
•Observation
•Focus groups
•Surveys
•Behavioral data
•Experiments
Data Sources
•Secondary data
•Primary data

Research instrument
Sampling plan •Questionnaires
Contact method •Qualitative measures
•Technological devices
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Step 3: Collect the Information
Online surveys

Telephone surveys

Interviews
In-home surveys
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Step 4: Analyze the Information

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Step 5: Present the Findings

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 Step 6: Make the Decision

Research Decisions

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 Characteristics of Good Marketing Research
1. Scientific method
2. Research creativity
3. Multiple methods
4. Interdependence of models and data
5. Value and cost of information
6. Healthy skepticism
7. Ethical marketing

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 Former marketing research
executive for General Foods
concluded that Star Wars would
fail at the box office. The film
grossed $4.3 billion in box office
receipts.

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 • No research is better than bad research

• Albert Einstein was asked: "If you were told you

only had an hour to live and you could solve one
problem, what would it be?" Einstein replied: "I
would spend the first 59 minutes defining the
problem.“

• You can have data without information, but you

cannot have information without data

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 Measuring Marketing Productivity
Marketing-mix modeling

Marketing metrics
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Marketing Metrics

Marketing
Performance

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Marketing Metrics

External
• Awareness
• Market share
• Relative price
• Number of complaints
• Consumer satisfaction
• Total number of customers
• Perceived quality/esteem
• Loyalty/retention
• Relative perceived quality

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Marketing-Mix Modeling

Awareness

Expenditure

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Marketing Dashboards

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 . 2
r e 4 Marketing Measurement
ig u
F Pathway

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 . 3
e 4
r
F ig u Marketing Dashboard Example

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