Marketing research
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Marketing Research. Ch. 28 ME. Section 28.1. Marketing Information Systems. Defining Marketing Research. Marketing Research – involves the process and methods used to gather information, analyze it, and report findings related to marketing goods and services Is often used by companies to:

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Marketing research

Marketing Research

Ch. 28 ME


Marketing information systems

Section 28.1

Marketing Information Systems


Defining marketing research

Defining Marketing Research

  • Marketing Research – involves the process and methods used to gather information, analyze it, and report findings related to marketing goods and services

  • Is often used by companies to:

    • Determine customers’ attitudes and preferences

    • Test product features

    • Determine market size and growth potential

    • Learn about competitive products

    • Determine buying cycles

    • Understand how the company is perceived by the public


Why is marketing research important

Why is Marketing Research Important?

  • Helps businesses increase sales and profits

  • Answers questions about:

    • What products to produce

    • At what price to sell the products

    • How the products will be promoted

  • Solve market problems and gauge the potential of new ideas

  • Helps a company keep track of what is happening with its current markets


Marketing information systems1

Marketing Information Systems

  • Marketing Information Systems – is a set of procedures and methods that regularly generates, stores, analyzes, and distributes information for the use in making marketing and other business decisions

    • Rely heavily on:

      • Data about current customers

      • Overall product sales reports

      • Inventory levels


Database marketing

Database Marketing

  • Database Marketing (CRM) – is a process of designing, creating, and managing customer lists

    • Developed from customer touch points such as face to face sales, direct-mail responses, telephone or e-mail purchases, service requests, or Web site visits


Types trends and limitations of marketing research

Section 28.2

Types, Trends, and Limitations of Marketing Research


Types of marketing research

Types of Marketing Research

  • Quantitative Research – answers questions that start with “How many” or “how much”

    • Gathers information from large numbers of people

    • Relies heavily on the surveys or questionnaires to obtain information

  • Qualitative Research – focuses on smaller numbers of people (usually fewer than 100) and tries to answer questions about “why” or “how”

    • Relies heavily on in-depth interviews


Types of marketing research1

Types of Marketing Research

Attitude Research – is designed to obtain information on how people feel about certain products, services, companies, or ideas

Market Intelligence – is concerned with the size and location of a market, the competition, and the segmentation with the market for a particular product or service


Forecasting

Forecasting

Sales Forecasting – is an attempt to estimate the future slaes of an existing product

Economic Forecasting– is an attempt to predict the future economic conditions of a city, a region, a country, or other part of the world


Media research

Media Research

  • Media Research – focuses on issues of media effectiveness, selection, frequency, and ratings

  • Media Advertising Measurers

    • Audience – is the number of homes or people exposed to a particular advertising medium

    • Frequency – is the number of times a viewer in the audience sees or hears an ad

    • Reach – is the percentage of the target audience that will see or hear an ad at least once


Product research

Product Research

  • Product Research – centers on evaluating product design, package design, product usage, and consumer acceptance of new and exiting products

    • Also conducted to collect information on competitive products

    • Concept testing is used in the early stages of product development


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