Introducing marketing research
Download
1 / 21

introducing MARKETING RESEARCH - PowerPoint PPT Presentation


  • 73 Views
  • Uploaded on

Winter 2013. introducing MARKETING RESEARCH. Overview Marketing Research. 1. 3. 2. Marketing Research and it’s impact. Examples of Mkt Research studies. Relationship btw research and planning. What goal are we all trying to achieve?. BUSINESS GOAL.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'introducing MARKETING RESEARCH' - fedora


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
Introducing marketing research

Winter 2013

introducingMARKETING RESEARCH


Introducing marketing research

OverviewMarketing Research

1

3

2

Marketing Research and it’s impact

Examples of Mkt Research studies

Relationship btw research and planning

What goal are we all trying to achieve?


Introducing marketing research

BUSINESS GOAL

The true competitive advantage comes from

the understanding you have of your customer,

that your competitors don’t have.

This information HAS TO come from

the customer.

We obtain this information through marketing research.


Introducing marketing research

COMPETITVE ADVANTAGE

Get the Customer.

Keep the Customer.

Grow your Customer.

The difference between competitors is how we achieve these goals.


Marketing research

1

Marketing Research

Definition, Purpose, and Impact


Why marketing research
Why? Marketing Research

Businesses make millions of decisions that impact the success or failure of their business. These decisions require additional information in order to be effective.

Marketing Research is what those businesses use to obtain, analyze, and interpret information. In situations where the outcome is negative it can help figure out what went wrong.

Information reduces uncertainty.

This job is more difficult with the explosion of information over the last decade.


Introducing marketing research

CRM

Developing long term relationships with customers helps businesses succeed.

Having knowledge of both your customer and your market makes key decisions easier.

Information including:

Demographics and Psychographics

Buying and Service Histories

Preferences

Complaints

Proper marketing research can make this information readily available.

Customer Relationship Management


Why decisions aided by research
Why? Decisions Aided by Research

Target Decisions

Who are our target customers? What are their demographics?

Should we aim towards more than one target audience? What are the strengths and weakness of our competitors who court the same audience?

Product Decisions

What modifications should be made?

What products should be added or deleted from our line?

What changes need to be made in packaging?

Should we expand, contract, or maintain our present line?

The answers to these question can mean the difference between an iPod and a Zune.


Why decisions aided by research1
Why? Decisions Aided by Research

Price Decisions

Should we price at, above, or below the competition?

What special price incentives should we use to stimulate sales?

Will the market bear a price sufficient to yield a profit?

Promotion Decisions

What kinds of advertising appeal, slogan and theme should be used?

What media should we use?

How large should the budget be?

How effective is our advertising?

The answers to these question can mean the difference between an iPod and a Zune.


How many what are companies actually doing
How Many? What are companies actually doing


Relationship research and planning

2

RelationshipResearch and Planning

Necessary to have accurate information to make the correct decisions.


Planning and decision making
Planning and Decision Making

Framework

Questions that can be answered by research are usually broad in nature. Questions can include:

Which new markets should we penetrate?

What products should we introduce?

What new opportunities should we pursue

Decisions that can be made from the information gathered are usually more narrow in nature and can help determine items such as:

Advertising Effectiveness

Product Positioning

Sales Tracking & Performance Monitoring

Anticipating & Initiating changes in Marketing Practices.

These types of decisions guide a business to success.


Decision making marketing research tasks
Decision Making Marketing Research Tasks

MARKETING PLANNING MARKETING RESEARCH TASK

Marketing Analysis Opportunity Assessment

Market Segmentation Benefit and Lifestyle Studies Competitive Analysis Performance Analysis

Target Marketing Target Marketing Analysis

Positioning Perceptual Mapping

New Product Planning Concept, Product, Testing

Distribution Decisions Cycle Time, Retailing, Logistic Research & Assessment

Pricing Decisions Demand Analysis

Sales Forecasting

Integrated Marketing Comm. Advertising Effectiveness Studies

Attitudinal Research

Sales Tracking

Program Implementation Performance Analysis

Marketing Control Product Analysis


Marketing research activities
Marketing Research Activities

PROBLEM IDENTIFICATION PROBLEM SOLVING

Marketing potential research Segmentation research

Market share research Product research

Image research Pricing research

Market characteristics Promotion research

Sales analysis research Distribution research

Forecasting research

Business trends research


Stages product life cycle
Stages Product Life Cycle

Planning and Research Process for a New Product

Identify Opportunity

Focus Groups

Market Definition Study

Idea Generation

Design

Consumer Measurement

Product Engineering

Forecasting Sales Potential

Launch

Tracking Studies

Evaluate

Market Response Analysis

Store Audits

Product Refinement Tests


Samples marketing research

3

Samples Marketing Research

Marketing Research should be conducted when the value exceeds the estimated cost.


Bad examples
BAD Examples

  • The Worst Survey Question in Existence

  • This question was on an application form for the Northwest International Women’s Conference. There were no instructions on how many choices to check.


Bad examples1
BAD Examples

  • And another worthy example:

  • The instructions stated the following:

  • Your participation in this National Survey on marine mammals is requested. You will find the questions easy to answer. Estimated to complete the survey is 2-3 minutes. Please mark your answers in the space provided.


Qualities good researcher
Qualities Good Researcher

  • To get the information you need:

  • You need to do the following:

  • Listen

  • Select among viable alternatives

  • Fit the technique to the problem and not vice versa

  • Communicate effectively

  • Avoid complicating scenarios

  • Be careful and conscientious


Conclusions in class assignment homework
Conclusions / In Class Assignment / Homework

CONCLUSIONS

What is Marketing Research? Why is it important?

When to do and when not to do research?

IN CLASS ASSIGNMENT

You will be conducting a survey on one of the following topics:

Gun Control

Immigration

Abortion

Fiscal Cliff

Intelligent Design

Once you’ve chosen your topic, come up with the following:

Target Demographic

Expected Outcomes

Take that information and go to the street—ASK THEM!

Once you’ve questioned at least 20 people in your target. Collate the information and provide the following for homework week 2.


Homework
Homework

STREET ANALYSIS

For week 2 I would like you to provide a written analysis of the information you collected. Provide your original field notes, an informational graph that gives a visual representation of your outcomes and an analysis of the information and your conclusions.

Initially I would recommend providing some background on your topic and the target demographic and expected outcomes you originally assumed. Make sure to note if they were correct and did the information back you up or not. Explain why you believe it did or didn’t.

Your analysis should be typewritten, MLA format and make sure to SPELL CHECK. I will collect them at the beginning of next week’s class.