1 / 16

Chapter One

Chapter One. A Decision Making Perspective on Marketing Research. A Perspective on Marketing Research. What is marketing research? Definition of marketing research Factors influencing marketing research decisions? Who uses marketing research? Who produces marketing research?.

marcell-connor
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. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter One A Decision Making Perspective on Marketing Research

  2. A Perspective on Marketing Research • What is marketing research? • Definition of marketing research • Factors influencing marketing research decisions? • Who uses marketing research? • Who produces marketing research?

  3. What is Marketing Research?Examples GTE (Direct-Marketing) Catalina Marketing Supermarket Coupons General Motors EV1

  4. What is Marketing Research?Examples Gentleness • Tylenol Pain Relievers (perceptual map) Effectiveness • Bayer • Advil • Private-label Aspirin • Nuprin • Anacin • Excedrin

  5. Perceptual Maps continued

  6. Common Marketing Research Questions Monitoring the general environment: • Economic environment • Technological developments • Social changes, changes in buying behavior • Legal and political developments • ...

  7. Common Marketing Research Questions Describing the general market: • How big is the existing market? • How big is the potential market? • How fast is the market growing? • What are the buyers like? • How brand loyal is the market? • How and why do buyers use the product? • What market segments exist? • ...

  8. Common Marketing Research Questions Describing an organizations market position: • What market share does the company hold? • How do buyers perceive your brand and competing brands? • What is the repurchase rate for your brand and competing brands? • How satisfied are customers with your brand? • What are competitors marketing plans (product lines, prices, distribution, advertising, promotions, sales force)? • ...

  9. Definition of Marketing Research Marketing research is the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing

  10. Factors Influencing Marketing Research Decisions • Relevance • Type and Nature of Information Sought • Timing • Availability of Resources • Cost-Benefit Analysis

  11. 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! Factors Influencing Marketing Research Decisions

  12. Role of Marketing Research in Managerial Decision Making Four Stages of Market Planning Situation analysis Process Strategy development Marketing program development Implementation

  13. Situation Analysis Analysis of • Market environment • Market characteristics • Consumer behavior Research Approaches • Organize information obtained from prior studies (secondary) • Focus groups

  14. 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?

  15. Marketing Program Development • Programs embrace specific tasks • Action program usually focuses on a single objective in support of one element of overall business strategy

  16. Implementation • Starts with decision to proceed to a new program or strategy • Commitment to objectives, budgets and timetables • Specific measurable objectives must be set for all elements of marketing program • "Did the elements achieve their objectives?" • “Should the marketing program be continued, discontinued, revised or expanded?"

More Related