Chapter 32 Marketing Research. What is Marketing Research? Marketing Research – involves the...
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Transcript of Chapter 32 Marketing Research. What is Marketing Research? Marketing Research – involves the...
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Chapter 32
Marketing Research
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What is Marketing Research?
Marketing Research – involves the systematic gathering, and analyzing of information about problems related to marketing goods and services.
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Goal of Marketing Research
Obtain information about:PreferencesOpinionHabitsTrendsAnd plans of potential customers.
Research can minimize potential losses when introducing a new product.
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Why is Research Important?
Research helps answer the following questionsWhat products should be produced?Where should the products be sold?How will the products be promoted?At what price will the products sell?
A few years a go McDonalds made a major change to their packaging in response to Marketing Research results.
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Marketing Information Systems
A Marketing Information System – is a set of procedures and methods that regularly generates, stores, analyzes, and distributes marketing information. Asking your zip code at check out
helps build a the database.
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Marketing Databases
Data can be collected using barcode scanners at point-of-sale terminals.Databases – are created with this data and are then sold to a variety of sources American Express sells all types of
information to other companies about its customers.
Privacy Invasion
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Types of Marketing Research
Advertising ResearchProduct ResearchMarket ResearchSales Research
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Advertising ResearchAdvertising Research focuses on the advertising message and the media. Testing the Advertising Message
– consumer panels are set up to get people’s reactions to an advertisement.
Researching the Medium – Testing whether people use a particular media over another (For example: T.V. vs Magazine)
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Product Research
Product Research – evaluates product design and acceptance, competitive products, package design and product usage. Product Samples with coupons in the
mail. Test Marketing
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Market Research
Customer Analysis – is the study of consumer behavior. Questionnaires and Interviews are used to generate this information.Market Analysis – the study of behavior of a consumer market. Trends
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Sales ResearchSales Research – is the study of sales data. Sales Forecasting – when the future
sales of the product are estimated. Economic Forecasting – is an attemptto predict the future economic conditions of a city, region, country or the world.
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Limitations of Marketing Research
Funding for ResearchTimeCustomers in a test situation might behave differently than when they are acting in the real-world.