Transcript ch03_lesson1 - STaRT

Chapter 3:
Marketing Research
Chapter 3 Lesson 1
Marketing Research: Role and Scope
 pp. 57-66
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Why Perform Marketing
Research?
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To assist managers in their decision making
Managers must define the four P’s of their
marketing strategy based on results of
marketing research
Helps companies become aware of new
opportunities and threats emerging in the
market
Businesses must keep up with the times if
they want to stay on top!
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Scope of Marketing
Research
Market
Analysis
Information about the
marketplace.
Product
Research
Information about how
people perceive products.
Consumer
Analysis
Information about the
needs and motivations of
consumers.
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Most Common Uses of
Marketing Research
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Testing of new product concepts is the
most common use of marketing research
Others include
– Testing advertising campaigns for impact and
effectiveness
– Conducting surveys to measure customer
satisfaction
– Tracking brand awareness vs. the competition
– Pre-testing of advertising strategies
– Measuring the influence of pricing tests
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Marketing Research
Process
Problem
Awareness
Exploratory Research
Recommendations & Action
Secondary Data
Collection
Analysis & Interpretation
Data Collection & Processing
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Primary Research
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Problem Awareness
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Precisely defining a problem/decision
Definition should be specific – not
general or vague
Develop a clearly worded statement
that provides direction for further
research on the topic to be
investigated.
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Exploratory Research
Informal analysis that helps define the precise
nature of a problem.
Funnelling
Situation Analysis
Dividing a subject into
manageable variables so
that research can be
conducted.
Collecting information
from knowledgeable
people and secondary
sources.
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Secondary Data
Data compiled & published for some other purpose.
Secondary Data
Internal Sources
External Sources
Database
Management
System
Government
Business
Decision
Support
System
Online
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Secondary Data
Advantages
 Available at low or no cost
 Updated constantly by some sources
 Only source some of the time
 Useful for exploratory research
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Secondary Data
Disadvantages
 Inability to resolve specific problem
 Reliability and accuracy questioned
 Data outdated in changing market
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Assignment
Read Pages 57 - 66
Complete WSH 3.1
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