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Marketing Information Management. Meeting Customer Needs and Wants. Which people need my product?. Product – Price – Place - Promotion. The Need for Market Research. You want to start a new community theater in Roseville.

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Presentation Transcript

Meeting customer needs and wants
Meeting Customer Needs and Wants

Which people need my product?

Product – Price – Place - Promotion


The need for market research
The Need for Market Research

  • You want to start a new community theater in Roseville.

  • How do you know if you’ll be successful? What information will you need in order to figure this out?


Some interesting questions
Some Interesting Questions…

  • Where do people go now for theater?

  • Do people go to live theater if they have other entertainment options?

  • How much are people willing to pay for tickets?

  • How many volunteer musicians can we find?

  • What type of shows to people enjoy best (comedies, musicals, or dramas)?


More questions
More Questions…

  • How many people live in Roseville?

  • What is the unemployment rate in Roseville?

  • How much does it cost to rent rehearsal space?

  • What are the most popular shows?


Sources of data
Sources of Data

  • Primary Data – Data obtained for the first time and used specifically for the particular problem under study.

  • Secondary Data – Data that have already been collected by someone else for general purposes.


Sources of secondary data
Sources of Secondary Data

  • Government Sources

    • Bureau of Labor Statistics

    • U. S. Census

    • CIA World Factbook

    • Occupational Outlook Handbook


Sources of secondary data1
Sources of Secondary Data

  • Business and Trade Publications

    • BusinessWeek

    • Forbes

    • Wall Street Journal

    • City-data.com

    • Industry specific publications


Sources of secondary data2
Sources of Secondary Data

  • Consumer Publications

    • Local newspapers

    • Consumer magazines


Sources of secondary data3
Sources of Secondary Data

  • Books

  • Academic Journals

    • EBSCO Host

    • Academic Search Premier

    • Google Scholar


Sources of primary data
Sources of Primary Data

  • Interviews

    • Personal interview

    • Mall intercept interview

    • Focus group

    • Telephone interview


Sources of primary data1
Sources of Primary Data

  • Surveys

    • Mail survey

    • Internet survey


Sources of primary data2
Sources of Primary Data

  • Observation

    • Participant-observer

    • Traffic count

    • Mystery shopping



Sources of primary data4
Sources of Primary Data

  • Experiment

    • Requires a test group and a control group

    • A research observes the results of changing one or more marketing variables while keeping certain other variables constant under controlled conditions.

    • Example…

    • Why are experiments so powerful?


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