Best Practices in Best Practices in Marketing ResearchMarketing Research

Craig W. Roggow

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IntroductionIntroduction Marketing research is an essential pillar of goal Marketing research is an essential pillar of goal

attainment in modern corporate environments. attainment in modern corporate environments. It forms the basis of developing the most It forms the basis of developing the most

effective marketing tactics. effective marketing tactics. Marketing research is a crucial component of Marketing research is a crucial component of

success for corporate entities. success for corporate entities. This presentation focuses on Nike, Inc. & IBM as This presentation focuses on Nike, Inc. & IBM as

best practice companies in marketing research.best practice companies in marketing research.

Objects of this Objects of this ProjectProject

Identify and explain what these best-practice Identify and explain what these best-practice companies do in the field of marketing companies do in the field of marketing researchresearch

Define the similarities between Nike & IBMDefine the similarities between Nike & IBM Describe major differences between Nike Nike & IBM& IBM Critique Nike & IBM Nike & IBM best practices Identify how to implement best practices

Best Practice Companies: Best Practice Companies:

IBMIBM IBM is a leading firm in the computer IBM is a leading firm in the computer

technology sector. technology sector. The company is based in Armonk.The company is based in Armonk. IBM develops highly innovative IBM develops highly innovative

technological products and services.technological products and services. It enhances innovativeness through It enhances innovativeness through

qualitative research.qualitative research.

Best Practice Companies: Best Practice Companies:

NikeNike Nike is among the most recognizable firms Nike is among the most recognizable firms

in the sports apparel industry.in the sports apparel industry. It has extensive networks across the It has extensive networks across the

globe.globe. Nike has a tremendous framework for Nike has a tremendous framework for

marketing research.marketing research.

Similarities between Similarities between Nike & IBMNike & IBM

They use research as a platform for They use research as a platform for venturing into new markets. venturing into new markets.

This facilitates for global expansion. This facilitates for global expansion. Both companies use marketing research Both companies use marketing research

as a platform for competitiveness.as a platform for competitiveness.

Differences between Differences between Nike & IBMNike & IBM

IBM specializes in the manufacture of computer IBM specializes in the manufacture of computer hardware and software. hardware and software.

Nike specializes in sports apparel and sports Nike specializes in sports apparel and sports equipment. equipment.

Nike and IBM use different approaches to marketing Nike and IBM use different approaches to marketing researchresearch

Differences between Differences between Nike & IBM (cont.)Nike & IBM (cont.)

IBM has a tremendous framework for technological IBM has a tremendous framework for technological research.research.

The levels of technological sophistication in Nike are The levels of technological sophistication in Nike are not comparable to IBM.not comparable to IBM.

IBM has a significantly lower market share in the IT IBM has a significantly lower market share in the IT industry.industry.

The market share for Nike in the sports apparel The market share for Nike in the sports apparel sector is considerably greater.sector is considerably greater.

Critique of Best Critique of Best Practices:Practices:

IBMIBM IBM’s platforms for marketing research are IBM’s platforms for marketing research are

based on innovative technological systems. based on innovative technological systems. This enhances the implementation This enhances the implementation

framework for the company’s marketing framework for the company’s marketing strategy. strategy.

The company needs to focus on The company needs to focus on competition in marketing research. competition in marketing research.

Critique of Best Practices:Critique of Best Practices:NikeNike

Marketing research strategies for Nike Marketing research strategies for Nike help in segmentation. help in segmentation.

The company does not diversify its The company does not diversify its framework for marketing research.framework for marketing research.

The company should develop The company should develop comprehensive research plans in the comprehensive research plans in the emerging markets. emerging markets.

Implementing Best Implementing Best PracticesPractices

Identification of marketing needs.Identification of marketing needs. It is vital to combine different methods of It is vital to combine different methods of

research in order to evaluate numerous research in order to evaluate numerous variables.variables.

The use of larger samples during surveys.The use of larger samples during surveys. Incorporating professional services in Incorporating professional services in

marketing research.marketing research.

ConclusionConclusion Marketing research is a crucial component Marketing research is a crucial component

of success for corporate entities. of success for corporate entities. Marketing research has influenced the Marketing research has influenced the

performance of IBM and Nike.performance of IBM and Nike. Both firms invest millions of dollars on Both firms invest millions of dollars on

streamlining its marketing framework. streamlining its marketing framework.

Blog PostBlog PostFor a full report on this project please visit For a full report on this project please visit my blog post: my blog post: http://mergerandacquisitionstrategies.org/behttp://mergerandacquisitionstrategies.org/best-practices-in-marketing-research/st-practices-in-marketing-research/

ReferencesReferences Bradley, N. (2007). Bradley, N. (2007). Marketing research: Tools & techniques. Marketing research: Tools & techniques.

Oxford Oxford University Press: Oxford, NY.University Press: Oxford, NY. Lee, M. and Johnson, C. (2005). Lee, M. and Johnson, C. (2005). Principles of advertising: A Principles of advertising: A

global global perspective. perspective. Routledge: New York, NY.Routledge: New York, NY. Malhotra, N. K. (2010). Malhotra, N. K. (2010). Marketing research: An applied Marketing research: An applied

orientationorientation, , (6th ed.). Prentice Hall: Boston, MA.(6th ed.). Prentice Hall: Boston, MA. Mooi, E. and Sarstedt, M. (2011). Mooi, E. and Sarstedt, M. (2011). A concise guide to A concise guide to

marketing marketing research: The process, data and methods. research: The process, data and methods. Springer Publishing Springer Publishing Company: New York, NY.Company: New York, NY.

Roggow, C. (2012). Best-Practice Companies in Electronic Roggow, C. (2012). Best-Practice Companies in Electronic Commerce. Retrieved from Commerce. Retrieved from

http://mergerandacquisitionstrategies.org/best-practices-in-http://mergerandacquisitionstrategies.org/best-practices-in-marketing-research/marketing-research/

Szwarc, P. (2005). Szwarc, P. (2005). Researching customer satisfaction & Researching customer satisfaction & loyalty. loyalty. Kogan Page Limited: London.Kogan Page Limited: London.

Wit, B. D. and Meyer, R. (2010). Wit, B. D. and Meyer, R. (2010). Strategy, process, content Strategy, process, content and and context: An international perspective.context: An international perspective. South- South-Western: Mason, Western: Mason, OH.OH.

Created By Created By Craig W. RoggowCraig W. Roggow

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