Unit 3 Introduction to Marketing Assignment 2 (P3/M2/D2)
Assignment 2 Learning Outcomes All WILL be able to describe how John Lewis use marketing research to contribute to the development of its marketing plans (P3). All SHOULD be able to explain the limitations of marketing research used to contribute to John Lewis’ marketing plans (M2). All COULD be able to recommend three ways to improve marketing research for John Lewis’ marketing plan (D2). Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
Market Research Primary Secondary Market Research is the systematic and objective collection, analysis and evaluation of information that is intended to assist the marketing process. Primary Secondary Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
Have a go….. Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
Market Research http://www.research-live.com/magazine/in-partnership/4004253.article http://www.netpromoter.com/why-net-promoter/know/ http://www.marketingweek.co.uk/brands/john-lewis-partnership/ https://www.marketingsociety.com/sites/default/files/6288%20MS%20case%20studies%20John%20Lewis_v6.pdf Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
What is a Marketing Plan? A Marketing Plan is a detailed statement of the marketing strategy that will help the business achieve it overall objectives. Key Purpose – To inform employees what actions will be taken and what part they play. Why is this important? Can you think of an example? Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
The Marketing Planning Process PESTLE audit SWOT analysis Setting SMART marketing objectives based on company objectives Deciding on marketing strategy and tactics Implementing marketing strategy and tactics (marketing plan) EVALUATE effectiveness Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
P E S T L Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
M2 Limitations Reliability – would you get the same results from different group? Is it measuring what is claims to measure? Validity – how accurate is the information? Costs versus benefits How reliable is the research that your chosen business conducts? Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business
D2 - Recommendations IDEAS? Ask Specific and Objective Questions Make the Sample Match the Target Avoid Self-selection Use Screening to Make Your Sample Representative http://smallbusiness.chron.com/might-improve-validity-market-research-methods-78521.html Learning Objective: To know how marketing research is used to contribute to marketing plans used in one business