Market Research Questions 1 2 3 4 Describing

Market Research Questions 1. 2. 3. 4. Describing the market Describing your market position Measuring response to marketing action Developing a new product Dr. Satyendra Singh, Department of Adminstrative Studies

Describing the Market • Existing Market – Secondary sources – Syndicated services – Trade associations • Potential Market – Product growth models – Consumer surveys • Market Growth • Sub-national Markets – Predicasts – Same, if available Dr. Satyendra Singh, Department of Adminstrative Studies

Buyer Characteristics • Consumer – – – Source Demographics. . Media use. . . . Psychographic. . Product use/purchase Market segments. . . Brand Loyalty. . . • Industrial Buyers. . . Syndicated services Surveys Panels Trade Associations Salesperson reports Dr. Satyendra Singh, Department of Adminstrative Studies

Competitive Analysis • Your / Competitors Market Position • Shipment data / total market • Syndicated services • Trade Associations • Sales Forecasts • Trend analysis • Brand Awareness / Perception • Competition • • Annual reports Financial data Trade press Observation of marketing activities • Customer Satisfaction • Surveys • Complaints • Syndicated Services • Surveys Dr. Satyendra Singh, Department of Adminstrative Studies

Measuring Response to Marketing Actions • Distribution audit • Advertising Effectiveness – Awareness, attitudes, purchasing. • Surveys / Syndicated Services • Product Changes • Surveys, focus groups • Sales promotions – Coupon redemption / sales • Panel data • Pricing • Experiment, conjoint analysis, competitive prices Dr. Satyendra Singh, Department of Adminstrative Studies

New Product Development • Size of Market • Secondary Sources • Use tests • Surveys • Concept Testing • Focus Groups • Test Markets • Syndicated services • Surveys Dr. Satyendra Singh, Department of Adminstrative Studies