MARKETING RESEARCH MARKETING ESSENTIALS CHAPTER 28 OBJECTIVES Describe

MARKETING RESEARCH MARKETING ESSENTIALS CHAPTER 28

OBJECTIVES § Describe the purpose of marketing research. § Explain the characteristics and purposes of a marketing information system. § Identify procedures for gathering information using technology. § Identify the methods of conducting marketing research. § Discuss the trends and limitations in marketing research.

ISSUES IN MARKETING RESEARCH

TYPES OF MARKETING RESEARCH § Two broad types: - Quantitative – how many or how much? - Large samples - Surveys or questionnaires - Qualitative – why or how? - Fewer than 100 - In-depth interviews, observations

FOUR SPECIFIC TYPES OF MARKETING RESEARCH § § Attitude (opinion) Market Intelligence (size and location) Media (advertising) Product (design, use, acceptance)

ATTITUDE RESEARCH § Aka Opinion research - Determine feelings - Within companies (employees) - External (customers and public) - Employee surveys - Customer satisfaction surveys - Opinion polls

MARKET INTELLIGENCE § Aka Market research - Size and location of market - Competition - Segmentation within the market - Create profiles - Determine market strategy § Sales forecasting – anticipate and predict § Economic forecasting – trends and growth

ENGAGEMENT ACTIVITY

MEDIA RESEARCH § Aka Advertising research - Effectiveness - Selection - Frequency - Ratings § Brand awareness and recall § Brand image § Channel effectiveness and impact

MEDIA RESEARCH - CONT § PRINT MEDIA - Notice, remember and associate with an ad - Focus groups § BROADCAST MEDIA - Theater tests, interviews, in-home testing, focus groups - Nielsen (TV), Arbitron (radio) § INTERNET MEDIA - Interaction, click-through and dwell rates (web-centric) - Demographic and lifestyle polling (user-centric)

PRODUCT RESEARCH § Evaluates: - Product design - Package design - Product usage - Consumer acceptance - Competing products § New product research § Existing product research

PRODUCT RESEARCH - CONT Advertising Concept Testing Pricing Positioning Brand Research Word and Personality Association New Product Research Quality Product Placement Performance Choice Study/Blind Test Feedback on Generic Products

PRODUCT RESEARCH - CONT § EXISTING PRODUCT RESEARCH - Customer satisfaction questionnaires and interviews - Used in both industrial and consumer markets

ENGAGEMENT ACTIVITY

NUMBERED RESPONSE 1. 2. 3. 4. ATTITUDE MARKET INTELLIGENCE MEDIA PRODUCT

TRENDS AND LIMITATIONS § Global competition drives: - Need to maintain customer satisfaction - Information to understand those needs - Fastest growing form of research § Global businesses must understand global cultures § 4 P’s must adapt to global marketplace § Time, money and fast-changing markets limit research

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