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Introduction to Marketing Research: Key Concepts and Applications

Explore the fundamentals of marketing research, including its role in implementing marketing strategies, the marketing concept, and the use of online research methods. Learn about Marketing Information Systems and Decision Support Systems.

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Introduction to Marketing Research: Key Concepts and Applications

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  1. Chapter 1 An Introduction to Marketing Research

  2. Marketing research provides information to help implement… • The Study of Marketing • The Use of the Marketing Concept • Marketing Strategy • Let’s look at each of these in turn

  3. Marketing research provides information to help implement… • Marketing:process of all activities necessary for the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives

  4. Marketing research provides information to help implement… • Marketing Concept:the business philosophy that holds the key to achieving organizational goals consists of determining the benefits sought by target market members and delivering these benefits more effectively & efficiently than competitors. This is to be done at a “profit.”

  5. Marketing research provides information to help implement… • Marketing Strategy:consists of selecting one or more segments of the market as the company’s target market(s) and designing the proper “mix” of the “4Ps”

  6. Key Point:To practice marketing; to implement the marketing concept; to carry out a marketing strategy, managers must make informed decisions. Many decisions require additional information and marketing research may be needed in order to supply that information.

  7. What is online research? • Online research:the use of computer networks, including the Internet, to assist in any phase of the marketing research process including development of the problem, research design, data gathering, analysis, and report writing and distribution

  8. What is online research? • Web-based research:research that is conducted to evaluate various facets of Web applications; may use traditional methods as well as on-line research methods in conducting research on Web-based applications • Online survey research: collection of data using computer networks

  9. Marketing Information System • Marketing Information System (MIS):a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers19

  10. Internal Reports System … existing organization/company reports and records (sometimes called “accounting information system”) Marketing Intelligence System … everyday info about pertinent developments in the environment Components of an MIS

  11. Decision Support System (DSS) … collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making (“playing what if?”). Marketing Research System…provides information not available from other systems. When specific problem must be solved, marketing research may be needed. This is “project-based” not continuous as with other systems. Components of an MIS

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