Marketing Information The Key To Business Success

What is Marketing Information? The data collected during the marketing research process The data collected during the marketing research process Types of data Types of data Company and competitor records Company and competitor records Customer profile data Customer profile data Buying behavior Buying behavior Shopping patterns Shopping patterns Demographics and lifestyle research Demographics and lifestyle research Government data Government data Market research reports produced and sold by research firms Market research reports produced and sold by research firms

Marketing Information Used to identify marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing performance.

Why is marketing information important to a business? The information obtained from research helps businesses plan their future operations to increase sales and profits The information obtained from research helps businesses plan their future operations to increase sales and profits Research answers the what, where, how, and at what price the products should be produced Research answers the what, where, how, and at what price the products should be produced The information also helps businesses solve marketing problems or anticipate future marketing potential The information also helps businesses solve marketing problems or anticipate future marketing potential

Marketing Research Involves the marketing function that links the consumer, the customer, and the public to the marketer through information American Marketing Association American Marketing Association

Marketing Research Involves the methods used to gather information, analyze it, and report the findings related to marketing goods and services Marketing research can apply to any aspect of marketing.

Types of Market Research

Types of Marketing Research The type of research used is based on the problem to be solved.

Attitude Research Also known as opinion research Also known as opinion research Attitude research is designed to obtain information about how people feel Attitude research is designed to obtain information about how people feel By using random samples of the population and interviewing techniques results can be generalized to the total population By using random samples of the population and interviewing techniques results can be generalized to the total population

Attitude Research Tells Us…………. Peoples opinions on Peoples opinions on Politics and Elections Politics and Elections Business Business The Economy The Economy Social Issues Social Issues Public Policy Public Policy

Market Research Involves the systematic gathering, recording, analyzing, and presenting information related to the marketing of goods and services Involves the systematic gathering, recording, analyzing, and presenting information related to the marketing of goods and services Research is needed before a product is put on the market and also during the life of the product Research is needed before a product is put on the market and also during the life of the product Research is not limited to products Research is not limited to products

Market Research Can Tell Us About…… Particular consumer and industrial markets through Market Analysis Particular consumer and industrial markets through Market Analysis Future sales estimates through Sales Forecasting Future sales estimates through Sales Forecasting Future economic conditions through Future economic conditions through Economic Forecasting

Media Research Focuses on media selection and frequency Focuses on media selection and frequency Measures the effectiveness of the ads message and the placement of the ad Measures the effectiveness of the ads message and the placement of the ad Can help determine which media mix is most effective Can help determine which media mix is most effective

Media Research Can Tell Us About…….. The effectiveness of the print media sent into the home through Consumer Panels The effectiveness of the print media sent into the home through Consumer Panels Broadcast media can be researched through Arbitron and Nielsen ratings obtained through diaries and special soft wear Broadcast media can be researched through Arbitron and Nielsen ratings obtained through diaries and special soft wear Researchers are even developing systems to measure the effectiveness of online advertising Researchers are even developing systems to measure the effectiveness of online advertising

Product Research Evaluating product design, product usage, and consumer acceptance of new and existing products Evaluating product design, product usage, and consumer acceptance of new and existing products Research is also conducted to collect information about competitive products Research is also conducted to collect information about competitive products

Product Research Tells Us About……….. New product acceptance New product acceptance Product testersProduct testers Test MarketsTest Markets Product Rating BoardsProduct Rating Boards Existing product research Existing product research Satisfaction questionnaires Satisfaction questionnaires Industrial Markets Industrial Markets Consumer Markets Consumer Markets