Transcript Marketing Research

Marketing Research
Lecture 1
MARKETING
• Purpose of Marketing is to allow a firm to
plan and execute the pricing, promotion
and distribution of products and services in
order to create exchanges that satisfy both
the firm and its customers.
• Marketing managers try to get the right
goods and services to the right people, at
the right place and time, with the right
price through the right promotion.
Marketing Research
Lecture 1
2
Strategic Marketing Planning &
Marketing Research
• It’s a big job….but someone has to do it
• Decision, decisions, decisions!!!
• Broad Question
– What markets should we penetrate?
– What products should we introduce?
– What new business opportunities should we pursue?
• Narrow Questions
– Is our new advertising campaign generating awareness?
– How is our brand positioned in the competitive
landscape?
– What is our most productive segment?
Marketing Research
Lecture 1
3
Task of Marketing Management
Marketing Research
Lecture 1
4
The environment of the marketing
process
Marketing Research
Lecture 1
5
Marketing Intelligence Systems
Marketing Research
Lecture 1
6
How Marketing Research Helps
a Marketing Manager
Pg 12
Marketing Research
Lecture 1
7
Kinds Of Questions Marketing
Research Can Help Answer
Marketing Research
Lecture 1
8
Information That Managers
Need From Customers
• Target Market: What is the best target
market? Its size, description, attitudes,
opinions, preferences, & lifestyles.
• Product/services: how satisfied are the
current customers & what further they
desire with respect to the product/
service
Marketing Research
Lecture 1
9
• Price: What value is perceived by the customers?
Which other products they are willing to substitute
for the product. What benefits, appeals or
features does organization's product have that
might allow it to charge a higher price.
• Distribution: what distribution channel is the
target market most likely to use when purchasing
the product in question? Will the channel be able
to provide the services or support needed for the
product?
• Promotion: what can the organization say in its
advertisements about its product that will appeal
to the target market and lead them to consider
product to be more attractive?
Marketing Research
Lecture 1
10
What Is Marketing Research
Marketing research is the function which
links the consumer, customer and public to
the marketer through informationinformation used to identify and define
marketing opportunities and problems:
generate, refine, and evaluate marketing
actions: monitor marketing performance:
and improve understanding of marketing
as a process.
Marketing Research
Lecture 1
11
Marketing Research specifies the
information required to address these
issues: designs the method for collecting
information: manages and implements the
data collection process: analyze the
results: and communicates the findings
and their implications.
Marketing Research
Lecture 1
12
The Value of Marketing Research
Information
• Marketing research identifies new
approaches & evolving processes.
• Marketing research allows a business
enterprise to make confident, cost
effective decisions.
• Marketing research helps build & manage
relationships with customers.
Marketing Research
Lecture 1
13
Phase 1
Phase 2
Phase3
Phase4
Setting Goals & Establishing
Strategies
Developing Plan
Putting Plan into Action
Evaluating the Plan’s
Effectiveness
Research can monitor:
Research can:
Research can monitor:
Dissatisfactions & needs in
relevant market segments
Identify key market segment
by product category
Total industry & product
class sales
Demand size & trend
Identify market segment
attitudes toward present
products, promotions, &
advertising
Firm’s sales, by product &n
market
Industry/market structure &
composition, competition,
market shares &
profitability
Test the appeal of potential
product attributes
Product availability in retail
stores, shelf space, retail
support, & so on
Technological & materials
innovation
Test the effectiveness of
advertising & promotion
The cost & effectiveness of
the firm’s marketing
efforts, by product &
market, & by
advertising, promotion,
& so on
Supply conditions & prices
Evaluate the needs & attitudes
of channel members
Awareness & trial in relevant
market segments
Distribution, environmental &
legal developments
Media trends
Changes in competitive
spending levels &
strategies, including
price, package,
promotion, & so on
End period compilation
& aggregation of
operating data to
present an accurate
picture of
performance. Also,
summary of survey
findings on
consumer
awareness trial,
attitudes,
preferences,
repurchase rates, &
so on
14
Strategic Planning Process &
Related Marketing Research Tasks
Marketing Research
Lecture 1
15