Transcript Marketing Information Management

May 9th, 2015
Describe the purpose
of marketing research
Why Is Marketing Research Important?
The information obtained from research helps
businesses increase sales and profits. Research
answers questions about:
• What products to produce
• At what price to sell them
• Who will buy the products
• How the products will be promoted
Research also helps solve marketing problems
and gauge the potential of new ideas.
Market Intelligence
market
intelligence
Information
about the size
and location of a
market, the
competition, and
the segmentation
within the
market for a
particular
product or
service.
Market intelligence is
concerned with:
• The size and location of a market
• The competition
• The segmentation within the market
for a particular product or service
Market intelligence helps define
potential target markets for a particular
product or service and how to reach
potential customers.
Marketing Essentials Chapter 28, Section 28.2
Types, Trends, and Limitations
of Marketing Research
Types of Marketing Research
The type of marketing research businesses
conduct depends on the problem that they
are trying to solve. Some of the most
significant areas of research are:
 attitude research
 market research
 media research
 product research
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Types, Trends, and Limitations
of Marketing Research
Attitude Research
Attitude research, also known as opinion
research, is research designed to obtain
information on how people feel about certain
products, ideas, or companies.
 Example: The Gallup Organization
conducts opinion research polls on politics,
elections, business and the economy,
social issues, and public policy.
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Types, Trends, and Limitations
of Marketing Research
Market Research
Market research involves the systematic
gathering, recording, analyzing, and presentation
of information related to marketing goods and
services. It uses market analysis—the study of
particular consumer and industrial markets—to
obtain data about the size, location, and make-up
of the market for a product.
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SECTION 28.2
Types, Trends, and Limitations
of Marketing Research
Market Research
Sales forecasting is an effort to estimate the
future sales of a product.
Economic forecasting is an attempt to predict
future economic conditions. Most businesses
rely on government data to predict economic
conditions and to adjust their business
activities depending on the economic outlook.
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Types, Trends, and Limitations
of Marketing Research
Media Research
Media research focuses on issues of media
selection and frequency. It measures the
effectiveness of the advertising message and
media placement. Media research is done on:
 print media
 broadcast media
 online media
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Types, Trends, and Limitations
of Marketing Research
Researching Print Advertisements
The effectiveness of a printed advertising
message can be tested on its recall,
communication, and persuasive abilities.
Several different techniques are used, including:
 reader surveys
 consumer panels
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TV Ratings
Types, Trends, and Limitations
of Marketing Research
Advertisers who prepare
television advertisements
are interested in TV
ratings. What information
can TV ratings provide for
a television advertiser?
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Types, Trends, and Limitations
of Marketing Research
Researching Online Advertising
As online advertising increases in popularity,
researchers have developed marketing research
techniques for online copy testing. Techniques
include:
 using a mock environment similar to
traditional copy testing
 live testing in an interactive environment
 tracking ad recall and copy effectiveness
 evaluating Web site elements that
attract users
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Types, Trends, and Limitations
of Marketing Research
Product Research
Product research centers on evaluating
product design, package design, product
usage, and consumer acceptance of new
and existing products.
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Product Research
product
research
The evaluation of
product design,
package design,
product usage,
and consumer
acceptance of
new and existing
products.
Product research centers on evaluating:
• Product design
• Package design
• Product usage
• Consumer acceptance
of new and existing products
Product research is also conducted to collect
information about competitive products.
Concept testing, product positioning, and
pricing studies are frequently done with focus
groups to get initial consumer reactions to a
product or service idea.
Types, Trends, and Limitations
of Marketing Research
New Product Acceptance
Product tests are a way of measuring new
product acceptance. Techniques include:
 having consumers try a product and
give their opinions
 providing samples
 test marketing by placing a new product
in a selected geographic area
 having a product rating board
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Types, Trends, and Limitations
of Marketing Research
Existing Product Research
Satisfaction questionnaires and interviews gather
information about existing products and services.
 Industrial satisfaction surveys focus upon
products and services utilized by business
and manufacturing firms.
 Customer satisfaction surveys provide data
for businesses regarding retail customer
attitudes toward existing products and
services.
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Types, Trends, and Limitations
of Marketing Research
Trends in Marketing Research
The nature and scope of marketing research
are rapidly changing to keep pace with a
changing marketplace. In the face of global
competition, research that measures product
quality and consumer satisfaction is the
fastest growing form of marketing research.
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Types, Trends, and Limitations
of Marketing Research
Limitations of Marketing Research
Marketing research information is used to help
businesses make sound business decisions,
however it is limited by the following factors:
 the company's budget
 time
 quickly changing customer preferences
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ASSESSMENT
Reviewing Key Terms and Concepts
1. What are the four major areas of marketing
research?
2. What is the difference between sales and
economic forecasting?
3. What is test marketing?
4. List at least four trends facing marketing
researchers today.
5. What are two limitations of marketing
research?
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ASSESSMENT
Thinking Critically
Should every type of business engage in
marketing research? Why or why not?
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Graphic Organizer
Types of Marketing Research
Types of Marketing Research
Product
Research
New
Product
Acceptance
Existing
Product
Research
Attitude
Research
Researching
Print
Advertisements
Media
Research
Researching
Researching
Broadcast
Media
Online
Advertising
Market
Research
Sales
Forecasting
Economic
Forecasting
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