Unit 6: Marketing Research Mrs. Brink Marketing Principles

Functions of Marketing Product Service Management Financing Selling Distribution Pricing Promotions Marketing Information Management Chapter 5

What is Marketing Research? Involves the marketing function that links the consumer, and the public to the marketer through information Gather, analyze and interpret data related to a research problem

How do we do Market Reasearch? Through studies using the Market Research Process Define the problem Analyze the situation Develop a data-collection procedure Gather and study information Propose a solution

Step 1: Seeing the Problem Clearly Discovering a problem always leads to research to find answers Step 1: Define the problem

Step 2: Analyzing the Situation Identify what is already known about the problem View information that is available about the problem

Step 3: Secondary V. Primary Data Secondary data can be obtained by a number of agencies. It is PREXISTING information Researching online Government documents Similar research done by other businesses Primary data is information YOU GATHER. Can be done using: the survey method the observation method the experimental method

Step 4: Gather Information Select the participants for primary research Population: entire group that could be researched Sample: group that represents entire population Collect the data! Analyze the data: Interpreting Results Numerical data: Quantitative Non-numerical data: Qualitative WHAT DOES THIS DATA TELL US!

Step 5: Propose a Solution Solutions must be presented in a report MUST BE FEASABLE! Must be measurable!

What methods are used to gather data?

Primary Data Primary data is EXTREMELY important to market research Allows marketers to hear directly from consumers!

Conducting Surveys Surveys are the most common form of primary data Should contain well thought out, SPECIFIC questions Close-ended questions: forces people to pick from preselected answers Open-ended questions: allows people to write in their own thoughts and responses

Focusing on the Issues Focus groups are a popular way to obtain primary data Group of carefully selected people brought together to discuss Always have a moderator Important to have questions carefully written http://www.youtube.com/watch?v=2djs-hy4s8k

Making Observations Observation collects information by recording actions without interacting or communication with the participant. Recording devices include Video cameras Audio recorders Bar code scanners Eye-tracking photography

Performing Experiments Test markets: use a specific geographic region to be the study EX: Chick-Fil-A Spicy Chicken Simulations: experiments put together by researchers to see reactions to changes in marketing mix EX: Febreeze http://www.nytimes.com/video/business/media/100000000889874/febreze-commercial.html

Trends in Market Research Scanners Social Media Hashtags Followers, likes Selling consumer data Customer Reward Cards

Let’s see how this is really done! Reading stations: You will rotate with your table members Read a total of 3 articles and answer all questions Chapter 5

Hillgrove School Store Market Research Project Problem: We are opening a school store but we are uncertain if our planned product selection will be successful Your job is to find a solution to this problem through market research using online surveys! Secondary data: North Gwinnett Primary data: Surveys! Chapter 5

Process Define the problem Analyze the situation Already know….. Balloons Spirit Wear Odds and ends—chap stick School Supplies North Gwinnett High School Develop a data-collection procedure Survey—10 questions that will answer problem Gather and study information Today! Propose a solution Write a brief report in class WED/THURS

Writing Surveys Demographic Questions: ALWAYS AT THE BEGINNING Mixture of close choice, open ended and scales Likert scales Chapter 5