Marketing Research

Marketing Research

​Marketing Research

​•Marketing research is gathering and analyzing information to help make sound marketing decisions

–Market intelligence is information provided by marketing research

–Marketing-information management (MIM) involves gathering and analyzing information about markets, customers, industry trends, new technology, and competing businesses

–The marketing concept focuses on satisfying customers as the means of achieving profit goals

​​Marketing Research

​•Data are pieces of information gained through research

•A database is an organized collection of data in digital form

–Many businesses collect data and contact information about their current customers and store the information in a customer database

–A marketing research database contains the results of marketing research

​​Marketing Research

​•Primary data are pieces of information collected directly by an individual or organization

–Primary research is conducted first-hand by a researcher

–Common ways to collect primary data include:

–Observations

–Interviews

–Surveys

–Diaries

Experiments

​​Marketing Research

​•Secondary data are information, statistics, or another type of data that already exists

–Secondary research is searching data already assembled and recorded by someone else

–Resources can include internal and external sources

•Governmental sources

•Market-research sources

•Academic sources

•Trade associations

•The Internet

Multiple Choice

The marketing concept focuses on __________ customers as the means of achieving profit goals

• tempting

• satisfying

• controlling

• pressuring

Multiple Choice

What are the two main types of Market Research?

• Applied and Theoretical

• First and Second

• Primary and Secondary

• Business and Educational

Multiple Choice

Resources can include internal and external sources of research including all of the following except...

• Governmental

• Academic

• Criminal

• Internet

​​Marketing Research

​•Qualitative data provide insight into what people think about a topic

•Quantitative data are facts and figures from which conclusions can be drawn

​​Marketing Research

​•Observations

–Researcher watches people or situations and records facts

–Central research issue: consumer behavior

–A secret shopper is a person hired by a company to visit its place of business and observe the quality of service

–To have objectivity is to be free of personal feelings, prejudices, or interpretations

​​Marketing Research

​•An interview is a formal meeting between two or more people to obtain certain information

–Central research issue: insight into thoughts and opinions of people about product or business

–Conducted through

•Focus group: group of people brought together to discuss a specific topic

•One-on-one interviews

Multiple Choice

What is your next step after graduating from high school is an example of a _____________ question.

• qualitative

• quantitative

Multiple Choice

How many times a day do you check your email is an example of a ____________ question.

• qualitative

• quantitative

Fill in the Blank

A group of people brought together to discuss a specific topic or question is known as a ____________?

​​Marketing Research

​•A survey is a set of questions posed to a group of people to determine how that group thinks, feels, or acts

–Central research issue: gathering facts and figures about a group of consumers

•Before deciding to use a written survey, consider the following:

–What is the best method for getting information?

–Who is the target audience?

–How many people should receive the survey to get an adequate number of responses?

–How will a representative sampling be selected?

​​Marketing Research

​ • Market-research sources

–Companies’ websites

–Research firms

• Academic sources

–Universities

–Community colleges

–Local libraries

–Small-business organizations

Open Ended

What are three good practices to follow when you are creating a survey?