Transcript Introduction to Marketing Research

MARKETING
RESEARCH
5th edition
Alvin C. Burns Ronald F. Bush
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Introduction to Marketing
Research
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Because Marketing Research is
part of Marketing we should
understand:
• What is marketing?
• What is the marketing concept?
• What is marketing strategy?
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What is Marketing?
• Marketing has been defined by the
AMA as 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.
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What is the Marketing Concept?
• The Marketing Concept is a business
philosophy that holds that the key to
achieving organizational goals
consists of the company’s being more
effective than competitors in creating,
delivering, and communicating
customer value to its chosen
markets.
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What is Marketing Strategy?
• A Marketing Strategy consists of
selecting a segment of the market as
the company’s target market and
designing the proper “mix” of the
product/service, price, promotion, and
distribution system to meet the wants
and needs of the consumers within
the target market.
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Learning by Doing:
Let’s Apply Marketing to
a Restaurant
• Target market segment?
• Marketing strategy
– Location?
– Menu?
– Prices?
– Type?
– Advertising?
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Restaurant Marketing Decisions
• What if you owned a restaurant
located in Austin, Texas near the
University of Texas?
• What would be your marketing
strategy?
• How certain are you that you made
the right decisions?
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Restaurant Marketing Decisions
• What if the restaurant was located
near a university in a foreign country
like China, Thailand, Italy, Iceland, or
Peru?
• What would be your decisions?
• How certain are you that you made
the right decisions now?
• So, what’s going on? Class
comments?
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Key Point
• To practice marketing; to implement
the marketing concepts; to implement
marketing strategy, managers must
make decisions.
• Many decisions require additional
information and marketing research is
needed in order to supply that
information.
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We need Marketing Research to:
•
•
•
•
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Make the “right” decisions to
Implement marketing
Practice the marketing concept and
Make the right decisions to select the
right marketing strategy
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What is Marketing Research?
(Burns and Bush Definition)
• Marketing research is the process of
designing, gathering, analyzing, and
reporting information that may be
used to solve a specific marketing
problem.
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What is Marketing Research?
AMA definition
• Marketing research: the function that
links the consumer, customer, and
public to the marketer through
information – information used to
identify and define marketing
opportunities and problems;
generate, refine, and evaluate
marketing actions; monitor marketing
performance; and improve the
understanding of marketing as a
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Market Research vs. Marketing
Research
• Market research: the “systematic
gathering, recording, and analyzing of
data with respect to a particular
market, where ‘market’ refers to a
specific group in a specific
geographic area.”
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What is the purpose of
Marketing Research?
• To link the consumer to the marketer
by providing information that can be
used in making marketing decisions
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What are the uses of
Marketing Research?
• Identify marketing opportunities and
problems
• Generate, refine, and evaluate
potential marketing actions
• Monitor marketing
performance
• Improve marketing
as a process
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Classifying Marketing Research
Studies
• Identifying marketing opportunities
and problems
– Market-demand determination
– Market segments identification
– Marketing audits SWOT analysis
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Classifying Marketing Research
Studies
• Generating, refining, and evaluating
potential marketing actions
– Proposed marketing-mix evaluation
testing
– New-product prototype testing
– Advertising pretesting…see Insight
Express AdInsight ad pretesting…
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Classifying Marketing Research
Studies
• Monitoring marketing performance
– Image analysis…bank image
analysis
– Tracking studies...sales, market
shares of all brands in our category
– Customer satisfaction studies
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Classifying Marketing Research
Studies
• Improving marketing as a process
– The purpose of these studies is to
expand knowledge (basic research) of
marketing as a process rather than to
solve a specific problem facing a
company…How does background music
affect perceptions of products…How
preshopping information affects product
returns…Understanding cultural differences
in consumer impatience…all in Journal of
Marketing.
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The Marketing Information
System
• An MIS is a structure consisting of
people, equipment, and procedures
to gather, sort, analyze, evaluate, and
distribute needed, timely, and
accurate information to marketing
decision makers.
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Components of an MIS
• Internal Reports System…
Accounting information system…data
from income statement, etc.
• Marketing Intelligence System...
Information coming from outside the
firm…
• Marketing Decision Support System
(DSS)…database with analytical
tools
• Marketing Research System
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The Marketing Research System
has a role in MIS because…
• It gathers information not gathered by
the other MIS component subsystems.
• Marketing research studies are
conducted for a specific situation facing
the company. People Magazine study –
which of three different cover stories
should we use?
• Marketing research projects unlike other
MIS components are not continuous –
they have a beginning and an end. Ad
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hoc studies/Projects
Hot Topics in Marketing
Research
• Online Marketing Research
• Growing Consumer/Respondent
Resentment
• Globalization
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Hot Topics – Online Marketing
Research
• Online research: the use of computer
networks, including the Internet, to
assist in any phase of the marketing
research process including
development of the problem,
research design, data gathering,
analysis, and report writing and
distribution.
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Hot Topics – Online Marketing
Research
• Web-based research: research that is
conducted on web applications; may
use traditional methods as well as online research methods in conducting
research on web-based
applications… Usability studies
• On-line survey research: collection of
data using computer networks…
Ordering samples online via Survey
Ch 1 Sampling, Inc.
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Hot Topics – Online Marketing
Research
• On-line survey research: collection of
data using computer networks…
Ordering samples online via Survey
Sampling, Inc.
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Hot Topics – Growing Consumer/
Respondent Resentment
• Marketing research is invasive.
• Telemarketers and direct marketers
have abused “marketing research.”
• The government through FTC has
instituted a “Do not call” list.
• The marketing research industry is so
far excluded from the ban of the “do
not call” regulations.
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Hot Topics – Globalization
• As marketing firms spread globally,
so did marketing research firms.
• According to Jack Honomichl, 48% of
U.S. marketing research firms’
revenues were generated outside of
U.S.
• The top 25 marketing research firms
in the world earn 67% of their
revenues outside their own country.
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