Role of Marketing Research

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Presentation transcript:

Role of Marketing Research Chapter 1

The Task of Marketing Management Product Price Target Market Promotion Placement

The Marketing Environment Economic Environment Political/Legal Environment Marketing Mix Competitive Environment Environment Social Technological Environment Environment Natural

Definition of Marketing Research Marketing research is the firm’s formal communication link with the environment. Marketing Research is the “function which links the consumer, customer, and public to the marketer through information

Definition of Marketing Research Information is used to: opportunities and problems; generate marketing actions (PLANNING) refine and evaluate marketing actions (PROBLEM SOLVING) and monitor marketing performance (CONTROL)

Marketing Areas Research Can Help EXERCISE Planning Problem Solving Evaluation and Control

EXERCISE What are the Problem Solving Market Research Examples? Product Price Place Promotion

Cases that involve the following can benefit from marketing research Advertising & promotion effectiveness Agent performance Best effort evaluation Dealer performance Distributor performance Market size & growth New product opportunity Pricing Strategy

Could marketing research be used to investigate the following? How? Which brand name projects the image we want for our product? What kinds of firms use our services? What is the most effective trade promotion program? What is our reputation with government regulatory agencies?

How might each of these organizations use marketing research? An outdoor advertising firm A local bank A dairy farm An athletic department A nature conservation group An alternative rock band A steel manufacturer The Food and Drug Administration A movie theater A university A direct seller of cosmetics A hospital

Other Important Sources of Market Intelligence Sales personnel Customer service personnel Customer complaints Web site activity

Who Does Marketing Research? Producers of Products and Services Advertising Agencies Marketing Research Companies Others

Necessary Skills for an Entry or Junior Level Marketing Research Position Technical Skills computer literacy sample design statistical analysis numerical skills Managerial Skills oral presentation written communications people relations project coordination

Why Study Marketing Research? marketing researchers smarter consumer managers

Schools offering MS in Market Research Mercy College - Dobbs Ferry, New York Michigan State University, East Lansing, MI University of Wisconsin–Madison - Madison, Wisconsin Southern Illinois University Edwardsville, Edwardsville, Illinois California State Polytechnic University Pomona, Pomona, CA University of Georgia - Athens, Georgia University of Texas at Arlington - Arlington, Texas

Schools offering MS in Market Research Bentley University, Waltham, MA Baruch College, City University of New York - New York City, New York Clemson University - MS in Marketing, Clemson, South Carolina, South Carolina Columbia University - New York City, New York DePaul University - Chicago, Illinois Fairleigh Dickinson University - New Jersey International Institute of Market Research and Analytics (IIMRA), New York Hofstra University - Hempstead, New York Long Island University - Brooklyn, New York