Transcript Cover Page - Effective Marketing Research in Canada

Student PowerPoint
presentations for
First Canadian
Edition by
H. Onur Bodur,
Concordia
University
Copyright © 2008 by Nelson, a division of Thomson Canada Limited
Part 1
Introduction to
Marketing
Research Process
THE ROLE OF
MARKETING RESEARCH
Copyright © 2008 by Nelson, a division of Thomson Canada Limited
Chapter
1
LEARNING OBJECTIVES
What you will learn in this chapter
1. To understand the importance of marketing research as
a management decision-making tool
2. To recognize that the essence of marketing research is
to fulfill the marketing manager’s need for knowledge of
the market
3. To define marketing research
4. To understand the difference between basic and
applied marketing research
5. To explain that marketing research is a means for
implementing the marketing concept and total quality
management
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1–1
LEARNING OBJECTIVES (cont’d)
What you will learn in this chapter
6. To discuss the various categories of marketing
research activities
7. To understand the managerial value of marketing
research and its role in the development and
implementation of marketing strategy
8. To understand when marketing research is needed and
when it should not be conducted
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1–2
The Nature Of Marketing Research
• Marketing Research Defined
The systematic and objective process of generating
information to aid in making marketing decisions
• The process includes:
Specifying what information is required
Designing the method for collecting information
Managing and implementing the collection of data
Analyzing the results
Communicating the findings and their implications
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1–3
Basic and Applied Research
• Basic (Pure) Research
Research conducted to expand the limits of
knowledge, to verify the acceptability of a given
theory, or to learn more about a certain concept
 Attempts to expand the limits of marketing knowledge in
general
 Is not aimed at solving a pragmatic problem
• Applied Research
Research conducted when a decision must be made
about a real-life problem
 Example: SportChek
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1–4
The Scientific Method
• Scientific Method
The techniques and procedures used to recognize
and understand marketing phenomena
The analysis and interpretation of empirical evidence
(facts from observation or experimentation) to
confirm or disprove prior conceptions
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The Marketing Concept
• Marketing Concept
The most central idea in marketing thinking, which
calls on managers to be consumer-oriented, to
stress long-run profitability rather than sales volume,
and to adopt a cross-functional perspective
 Consumer oriented—decisions are made with a conscious
awareness of their effect on the consumer
 Emphasis on long-run profitability rather than short-term
profits or sales volume
 Cross-functional perspective—marketing is integrated
across other business functions
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1–6
Keeping Customers and Building Relationships
• Relationship Marketing
The idea that a major goal of marketing is the
building of long-term relationships with the parties
that contribute to an organization’s success
 A sale is not the end of a process but the start of an
organization’s relationship with a customer—marketers want
customers for life
 Managing the relationships that will bring about additional
exchanges—satisfied customers will return to a company
that has treated them well
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1–7
Total Quality Management
• Total Quality Management
A business philosophy that focuses on integrating
customer-driven quality throughout an organization
with continuous improvement of product quality and
service
 Focuses on integrating customer-driven quality throughout
the organization by evaluating itself through the eyes of the
customer
 Stresses continuous improvement—quality improvement is
every employee’s job
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Marketing Research: A Means for
Implementing the Marketing Concept
• Marketing research can help:
Maximize customer satisfaction with purchase
Identify after-sale services
Prevent commercialization of products that are not
consumer-oriented
Identify optimal pricing to maximize profitability
Increase sales efficiency through effective use of
market data.
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1–9
The Managerial Value of Marketing Research
for Strategic Decision Making
• Developing and implementing a marketing
strategy involves four stages:
1. Identifying and evaluating opportunities
2. Analyzing market segments and selecting target
markets
3. Planning and implementing a marketing mix that
will satisfy customers’ needs and meet the
objectives of the organization
4. Analyzing marketing performance
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1–10
Identifying and Evaluating Opportunities
• Monitoring the competitive environment for
signals indicating a business opportunity:
Helps managers recognize problems and identify
opportunities for enriching marketing efforts
Motivates a firm to take action to address consumer
desires in a way that is beneficial to both the
customers and to the firm
Identifies changes in customer needs, uses, and
demand for products
 Example: Chatelaine
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1–11
Analyzing and Selecting Target Markets
• Analyzing and Selecting Target Markets
Determining which characteristics of market
segments distinguish them from the overall market
 Example: Maclean’s magazine
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1–12
Planning and Implementing a Marketing Mix
• Product Research
Studies designed to evaluate and develop new
products and to learn how to adapt existing product
lines
 Concept testing
 Brand-name evaluation
 Package testing
• Pricing Research
Involves finding the amount of monetary sacrifice
that best represents the value customers perceive in
a product after considering various market
constraints
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1–13
Planning and Implementing a Marketing Mix
(cont’d)
• Distribution Research
Studies aimed at selecting retail sites or warehouse
locations in support of the distribution channel
• Promotion Research
Investigates the effectiveness of premiums, coupons,
sampling deals, and other sales promotions
• The Integrated Marketing Mix
Research studies investigate various combinations
of marketing ingredients to gather information to
suggest the best possible marketing program
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1–14
Analyzing Marketing Performance
• Performance-monitoring Research
Research that regularly provides feedback for
evaluation and control of marketing activity
• “What went right/wrong and why?”
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When is Marketing Research Needed?
• The determination of the need for marketing
research centres on:
Time constraints
The availability of data
The nature of the decision
Benefits versus costs
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Marketing Research in the 21st Century
• Global Marketing Research
Business research is increasingly global
Market knowledge is essential:
 General information about a country’s economic conditions
and political climate
 Cross-validation of cultural and consumer factors
 Market and competitive conditions—demand estimation
• Growth of the Internet
The Internet and other information technologies are
dramatically changing the face of marketing research
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