Transcript Welcome to SALES MANAGEMENT

Welcome to
MARKETING RESEARCH
MKTG3342
Fall 2008
Professor Edward Fox
INTRODUCTION TO MARKETING
RESEARCH
Outline

What is Marketing Research?

Applications of Marketing Research
WHAT IS MARKETING?

Marketing is an organizational function and a set
of processes for creating, communicating, and
delivering value to customers and for managing
customer relationships in ways that benefit the
organization and its stakeholders.
- AMA 2004

Marketing is so basic that it cannot be
considered a separate function. It is the whole
business seen from the point of view of its final
result, that is, from the customer’s point of view.
- Peter Drucker
WHAT IS MARKETING?

Marketing is [the] “process by which individuals
and groups obtain what they need and want
through creating, offering, and exchanging
products of value with others.”
- Philip Kotler
WHAT IS MARKETING
RESEARCH?
Marketing Research involves:
Specifying the information required
 Designing the method for collecting
information
 Managing and implementing the collection of
data
 Interpreting the results and communicating
the findings and their implications

Adopted from American Marketing Association (see page 6 of Text)
MARKETING RESEARCH –
DEFINITION
Marketing research is the planning,
collection, and analysis of data relevant to
marketing decision making and the
communication of the results of this analysis
to management (McDaniel and Gates p. 6)
Marketing Research Enables
Implementation of the Marketing Concept
Marketing Research: Understanding customers and marketing environment.
Marketing Concept: Developing integrated marketing effort to satisfy customers
at the same time realizing company objectives.
Economy
Social/Cultural
Demographics
Competitors
End Users
Suppliers
Company
Channel of
Distribution
Market
Customers/
Intermediaries
Legal/Regulatory
Technology
APPLICATIONS OF MARKETING
RESEARCH
Traditional Marketing Applications
Identifying/evaluating opportunities - New product
development
 Segmentation/targeting/positioning
 Marketing mix decisions
 Monitoring and control

Non-Marketing Applications



Identifying donor bases for non-profit organizations
Employee satisfaction surveys
Political opinion polls, etc...