Types of Marketing Research

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Presentation transcript:

Types of Marketing Research Qualitative & Quantitative Research Attitude Research Market Intelligence Media Research Product Research Mail surveys Telephone interviews Opinion polls Sales forecasting Economic forecasting Competitive products Brand awareness Advertisement recall Brand image Effectiveness of advertising copy Audience size New product research includes concept testing Existing product research includes questionnaires and interviews

How might a company use Marketing Research? TACO BELL used new product development research to uncover the potential sales and market for a new version of the taco. Doritos Locos Tacos was the MOST successful product in 2012 with over 370 million sold. That’s over 1 Million Tacos daily! Doritos Locos Tacos Commercial VW performed customer satisfaction research on its Volkswagon Beetle convertibles which sparked the idea for the following commercial: VW Convertible Commercial

Issues in Marketing Research Trends in Marketing Research Global Trends in Marketing Research Globalization of the marketplace means increased competition. Product quality and customer satisfaction are more important than ever. Use of internal and external information for managing a business is mandatory. Research of other cultures is important to a product’s success in a foreign market. MCDONALD'S EGYPT COMMERCIAL MCDONALD'S JAPAN COMMERCIAL MCDONALD'S INDIA COMMERCIAL

International Marketing Research Global Corporations like McDonald’s perform intensive new product development research before launching new menu items in the marketplace. McDonald's Menu Items From Around the World

Issues in Marketing Research Limitations of Marketing Research The amount of information that can be gathered is limited by money and time. Favorable customer reviews do not guarantee a product’s success. Fast-changing markets may not allow time for research.

Assignment Products & Countries