Transcript Marketing Research Bangor Transfer Abroad Programme

Marketing Research
Marketing Decision-Making
and Marketing Decisions
Bangor Transfer Abroad Programme
Marketing Research
AIM
To give you an understanding of
the uses of Marketing Research
and a knowledge of how
Marketing data are used in
Marketing decision-making
Bangor Transfer Abroad Programme
Marketing Research
OBJECTIVES
Describe the nature and processes of
Marketing Research
Practically apply methods of primary and
secondary data collection
Analyse Marketing data
Demonstrate Application of research to
Marketing decisions
Bangor Transfer Abroad Programme
Marketing Research
Professor
DON
Bathie
Bangor Transfer Abroad Programme
Marketing Research
The Knowledge Age
• Huge volumes of information now available
• Managers need to be selective and systematic
• As data is drawn from multiple sources,
needs to be combined and analysed for it to
be of value
Bangor Transfer Abroad Programme
Decision levels in
organisations
Strategic
Operational
Tactical
Marketing Research
Business direction
Market decisions
Investment decisions
New product development
Positioning
Marketing mix decisions
Customer service levels
Competitive responses
Campaigns
Bangor Transfer Abroad Programme
Marketing Research
Information processing
Input
Output/input
DATA
Output
INFORMATION
Value
added
Uninformed
Minimum cost
Total uncertainty
INTELLIGENCE
Value
added
Informed
Maximum cost
Less uncertainty
Bangor Transfer Abroad Programme
Marketing Research
Typical applications for
marketing research
• Market analysis
• New product/service development
• Selection of brand names and packaging
• Pricing decisions
• Advertising and promotion decisions
• Sales decisions
• Service support and complaint handling decisions
Bangor Transfer Abroad Programme
Marketing Research
Typical data requirements:
Market analysis
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Market size
Market profitability
Market growth trends
Main products in the market
Customer attitudes and buying behaviours
Major competitors and market shares
Distribution patterns
Marketing strategies used in the market
Bangor Transfer Abroad Programme
Marketing Research
Product research
Long range economic
studies
Satisfaction levels
and trends with
current products
Gap between current
products & perception
New products
Consumer
research
Competitor research
Research from
international markets
Source: Hines
Bangor Transfer Abroad Programme
Marketing Research
Pricing decisions
• Competitor product prices
• Consumer attitudes to price
– what would they expect to pay?
– what would they be prepared to pay
• Cost/price/volume - what quantities are likely to sell at
different price levels?
Bangor Transfer Abroad Programme
Marketing Research
Advertising and promotion
• Size of potential market
• Demographic characteristics of users
• Demographic profiles of segments
• Behaviours and attitudes of different segments
• Language used by customers in talking about product
• Share of mind compared with competitors
Bangor Transfer Abroad Programme
Marketing Research
Sales decisions
• Sales territories
• Sales personnel efficiency
• Sales statistics
• Sales forecasts
• Sales incentives
• Distributor policy
Bangor Transfer Abroad Programme
Marketing Research
Summary
• Marketing
Research generates data and
analysis for Marketing Decisions
• Four types of decision area::
- Market Research
- Product Policy Research
- Pricing Research
- Communications Research
Bangor Transfer Abroad Programme
Summary
Marketing Research
Primary objective of researcher is to provide:
- Timely
- Accurate
- Relevant
…data and analysis to Marketing
Management
Key word is ‘Robust”
Bangor Transfer Abroad Programme