Chapter one
This presentation is the property of its rightful owner.
Sponsored Links
1 / 24

Chapter One PowerPoint PPT Presentation


  • 137 Views
  • Uploaded on
  • Presentation posted in: General

Chapter One. A Decision Making Perspective on Marketing Research. Why study Marketing Research. Careers Research Organizations (e.g. A.C. Nielsen, J.D. Power Associates, IRI, etc.) Marketing & Business Consultancies (e.g. Arthur Andersen, Price Waterhouse, McKinsey & Co, etc.)

Download Presentation

Chapter One

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Chapter one

Chapter One

A Decision Making Perspective on Marketing Research

Essentials of Marketing Research Kumar, Aaker, Day


Why study marketing research

Why study Marketing Research

  • Careers

    • Research Organizations (e.g. A.C. Nielsen, J.D. Power Associates, IRI, etc.)

    • Marketing & Business Consultancies (e.g. Arthur Andersen, Price Waterhouse, McKinsey & Co, etc.)

    • Marketing Departments of Businesses

    • Academia

Essentials of Marketing Research Kumar, Aaker, Day


Situations where mr knowledge is essential

Situations where MR knowledge is essential

  • Your boss wants to introduce a new product and calls you for advice.

  • Your ad agency wants your business to buy an expensive ad campaign.

  • Your MR consultants present their findings about why your sales are falling. Do you accept their reasons?

  • Your boss wants to reduce prices and calls you for advice.

Essentials of Marketing Research Kumar, Aaker, Day


Why study marketing research1

Why study Marketing Research

  • Universal belief – numbers don’t lie

  • Increase chances of taking the right decision

  • Increase confidence in your recommendations

Essentials of Marketing Research Kumar, Aaker, Day


What is marketing research examples

What is Marketing Research?Examples

Pain Relievers

Perceptual Map

Gentleness

  • Tylenol

Effectiveness

  • Bayer

  • Advil

  • Private-label

    Aspirin

  • Nuprin

  • Anacin

  • Excedrin

Essentials of Marketing Research Kumar, Aaker, Day


Definition of marketing research

Definition of Marketing Research

  • Marketing research is the

    • systematic (pre-planned) and objective (measurable)

    • identification, collection, analysis, and dissemination of information (information goes from market to organization)

    • for the purpose of improving decision making (providing factual basis for taking a decision)

    • related to the identification of opportunities and solution of problems in marketing.

Essentials of Marketing Research Kumar, Aaker, Day


Role of marketing research in managerial decision making

Role of Marketing Research in Managerial Decision Making

Four Stages of

Market Planning Situation analysis

Process

Strategy development

Marketing program development

Implementation


Situation analysis

Situation Analysis

  • The analysis of the environment in which the business operates

    • Market (sector-specific e.g. demand and supply, production, etc.)

    • Economy (e.g. money supply, inflation, BOP, interest rates, etc.)

    • Consumer and society (buyer behavior, societal trends)

    • Technology (obsolescence, innovations, inventions)

    • Legal (laws regulating business)

    • Political (govt. attitudes to business and specific sectors)

    • Natural (effect of natural resources on business)

  • Usually focus on trends which impact the marketing situation

Essentials of Marketing Research Kumar, Aaker, Day


Aspect of business environment interested business

Aspect of business environment?Interested business?

  • Depletion of forest cover

  • Increased demand for gasoline in China and India

  • Tough vehicle emission laws in California

  • Fed drops interest rates by a quarter of a point

  • Dow Jones rises by 100 points

  • Consumers increasingly prefer to buy online

  • Increasing trend in downloading songs from the Internet

  • Growing popularity of satellite radio

  • Increased duties on European cars

Essentials of Marketing Research Kumar, Aaker, Day


Case mp3 players

Case: MP3 players

  • Identify at least one aspect of the external environment I-Pod would be interested in researching:

    • Economic

    • Technological

    • Buyer behavior

    • Market

    • Legal

Essentials of Marketing Research Kumar, Aaker, Day


Situation analysis common marketing research questions

Situation Analysis – Common Marketing Research Questions

Describing the market:

  • How big is the existing market?

  • How big is the potential market?

  • How fast is the market growing?

  • How brand loyal is the market?

  • What competitive products exist?

  • What is the supply situation in the market?

Essentials of Marketing Research Kumar, Aaker, Day


Situation analysis common marketing research questions1

Situation Analysis – Common Marketing Research Questions

Describing an organization’s market position:

  • What market share does the company hold?

  • What market segments exist and which do we serve?

  • Who are our primary competitors?

  • What opportunities exist with distribution channels?

Essentials of Marketing Research Kumar, Aaker, Day


Situation analysis common marketing research questions2

Situation Analysis – Common Marketing Research Questions

Describing buyer behavior:

  • Who are our customers? (i.e., demographic, geographic, psychographic segments)

  • How do buyers perceive our brand and competing brands?

  • What is the repurchase rate for our brand and competing brands?

  • How satisfied are customers with our brand?

  • Where do customers buy? When do they buy? Why do they buy?

  • How much do buyers like our brand?

Essentials of Marketing Research Kumar, Aaker, Day


Role of marketing research in managerial decision making1

Role of Marketing Research in Managerial Decision Making

Four Stages of

Market Planning Situation analysis

Process

Strategy development

Marketing program development

Implementation


Strategy development

Strategy Development

Market Research Provides Information to Assist Management With Three Critical Decisions

  • What business should we be in?

  • How will we compete?

  • What are the objectives for the business?

Essentials of Marketing Research Kumar, Aaker, Day


Strategy development common marketing research questions

Strategy development – Common Marketing Research Questions

  • What business should we be in:

    • What products should we offer (e.g. Why did Apple get into the music business?)

    • What technologies should we use (e.g. Should the TV industry go the plasma monitors way or the LCD way? Sony Betamax or Toshiba VHS?)

    • What market segments should we target (e.g. Under Armour – serious athletes or even casual athletes?)

    • What distribution channels should we use (e.g. Cars – dealerships or Internet?)

Essentials of Marketing Research Kumar, Aaker, Day


Strategy development common marketing research questions1

Strategy development – Common Marketing Research Questions

  • How will we compete

    • How do we differentiate ourselves / our product from competition (e.g. Should Lacoste be a premium brand or a mass market brand?)

    • What attributes do consumers consider to be important (e.g. toothpaste – whitening power or cavity protection?)

    • How do we compare to competition (e.g. Pepsi and Coke – who is winning?)

Essentials of Marketing Research Kumar, Aaker, Day


Strategy development common marketing research questions2

Strategy development – Common Marketing Research Questions

  • What our the business objectives

    • Sales Profits

    • Market share

    • Service objectives (Car dealers – low prices or turnaround times)

    • Customer satisfaction (self-survey or actual complaints)

    • Attitudes, etc.

Essentials of Marketing Research Kumar, Aaker, Day


Role of marketing research in managerial decision making2

Role of Marketing Research in Managerial Decision Making

Four Stages of

Market Planning Situation analysis

Process

Strategy development

Marketing program development

Implementation


Common questions

Common Questions

  • Segmentation – which segment to target (e.g. BMW – should they introduce an economy car?)

  • Product – How should the product be positioned (Should Apple I-Pod be a premium brand or a mass market brand?)

  • Distribution – exclusive / mass distribution (Barbie dolls – should be sold exclusively through Toys’r’us or even in Walmart?)

  • Advertising – what appeals should be used (e.g. Dolce & Gabbana super low-rise jeans – should they use over-the-top sex appeal in their ads or not?)

Essentials of Marketing Research Kumar, Aaker, Day


Common questions1

Common Questions

  • Personal selling – which customers should be approached personally (e.g. Epson printers – is personal selling and option?)

  • Price – what price should be charged (e.g. should Starbucks drop their prices?)

  • Branding – how can brand loyalty be increased (e.g. should Morton salt institute a customer rewards program?)

  • Customer satisfaction – how can it be measured

Essentials of Marketing Research Kumar, Aaker, Day


Role of marketing research in managerial decision making3

Role of Marketing Research in Managerial Decision Making

Four Stages of

Market Planning Situation analysis

Process

Strategy development

Marketing program development

Implementation


Common questions implementation

Common questions - Implementation

  • Did the marketing program achieve its objectives (e.g. did the Aflac duck campaign improve TOMR? Attitudes?)

  • Should the marketing program be modified, continued or terminated (e.g. The Sonic guys – should the company pull the campaign?)

Essentials of Marketing Research Kumar, Aaker, Day


Factors influencing marketing research decisions

Factors Influencing Marketing Research Decisions

Yes

Yes

Yes

Yes

Availability

of Data

Is the

information

on hand

inadequate?

Nature of

Decision

Is the

decision of

considerable

importance?

Time

Constraints

Is sufficient

time

available?

Benefits vs.

Costs

Does the value

of the research

exceed the cost?

Conduct

Marketing

Research

No

No

No

No

Do not conduct marketing research!

Essentials of Marketing Research Kumar, Aaker, Day


  • Login