Transcript Marketing Research

Marketing
Research
The crystal ball of successful
Marketing
Marketing Research
The collection and analysis
of information that is
relevant to the marketing
strategy of a product or
service.
Consumer Research
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Discovers what type of product
consumers want and predicts
the overall sales potential of the
product
Consumer Research
cont’d
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A FOCUS GROUP is a companyarranged meeting of potential
consumers to gain feedback on a
product
The group provides their opinion
on various aspects of the product
and they are compensated for
their participation
Market Research
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Identifies specific groups of
consumers who would use a
particular product or service
Profiles of the consumer are
developed
Advertising and promotion are
created to ‘match’ the consumer
Motivation Research
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Analyzes the psychology of consumer
behaviour
The rational (thinking) and emotional
(feeling) motives behind why we buy
particular products
•Ford Windstar was the first
minivan in the industry to receive
the Quadruple 5-Star crash test
rating.†
•All Ford Windstars include the
Personal Safety System, an
advance safety technology.
Pricing Research
What price can the company
sell the product for while still
making a profit
 How will price affect
demand??
 $2.99 vs. $3.00
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Competitive Research
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Studies similar products on the
market
Avoid repeating the same mistakes
Opportunities for new products
Product Research
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Examines each detail of the
product or service and analyzes
what impact these details might
have on the market
Colour, packaging, flavour, size,
texture, scent
Advertising Research
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What are the most effective
forms of advertising?
How should we design are ads
to target the consumer?