1: Marketing Research for Decision Making

1-2 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 Marketing Research Marketing research is the function that links an organization to its market through the gathering of information.

1-3 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 Tasks in the Process  Designing methods for collecting data  Managing the information collection process  Analyzing and interpreting results  Communicating findings to decision makers

1-4 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 Research can…  Locate and identify new market opportunities for a company (opportunity assessment)  Help launch brand new products, line extensions or product modifications  Identify segments of customers within a product-market (segmentation)  Help choose which segments to target  Help position a product within a target segment  Identify existing and potential competitor’s strengths and weaknesses (performance analysis)  Help strategize and execute the Marketing Mix elements (4 Ps)

1-5 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 Target market analysis  Identifies segments the company wishes to serve as well as the needs of those groups  Gather information on:  Demographics, psychographics, attitudes  User profiles, usage patterns  Effectiveness of current marketing mix

1-6 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 Positioning  Company seeks to establish meaning consistent with customer needs and preferences  Refers to the perception of company’s brand versus competitors’ brand in the mind of the consumer

1-7 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 New Product Planning  Provides information for improving products and planning new products  Concept and product testing  Test marketing

1-8 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 Marketing Program Development  Gathers information for total marketing mix  Product portfolio analysis  Distribution decisions  Pricing decisions  Integrated marketing communications

1-9 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 Desired Skills (General) Communication skills Interpersonal skills Statistical skills

1-10 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 ESOMAR’s Ethical Principles  Conform to all national and international laws.  Behave ethically.  Be particularly careful with children and other vulnerable groups.  Ensure respondents are cooperating voluntarily and are well informed of risks.

1-11 Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved. Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008 ESOMAR’s Ethical Principles  Respect rights of respondents.  Protect personal data and use only for intended purpose.  Conduct projects with accuracy, transparency, objectivity, and quality.  Conform to principles of fair competition.