Marketing Research Chapter 28.

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Presentation transcript:

Marketing Research Chapter 28

WHAT Is Marketing Research? Process and methods used to: Gather information Analyze information Report information

WHY Marketing Research? Information gathered helps businesses: Decide on a marketing mix strategy Track current market trends Gauge customer satisfaction Identify marketing opportunities FINDS ANSWERS!!!

WHO Uses Marketing Research? All businesses; large and small Profit and/or non-profit organizations Manufacturers, wholesalers, retailers

HOW Is Marketing Research Conducted? In-house research departments Outside research companies [ACNielsen, Ipsos Reid] Trade associations collect industry data

Marketing Information System A set of procedures and methods that regularly generates, stores, analyses, and distributes information for use in decision making Database Marketing [or CRM] designing, creating, and managing lists of specific customer information Ex. Microsoft CRM 3.0: Lemonade stand

Types of Marketing Research Quantitative Qualitative

Types of Marketing Research Quantitative Qualitative ‘how many or how much’ Large numbers of people Surveys, questionnaires

Types of Marketing Research Quantitative Qualitative ‘how many or how much’ Large numbers of people Surveys, questionnaires ‘why or how’ Smaller numbers of people In-depth interviews Attitude Research Market Intelligence Media Research Product Research

Attitude Research Discover how people FEEL about their products Ex. Satisfaction surveys, opinion polls, telephone interviews, focus groups, etc.

Market Intelligence Concerned with the market itself: Size Location Competition Segmentation Sales and economic forecasting Often done before a new product launch

Media Research Determine the effectiveness of various media advertising Conducted before or after a media campaign Ex. Nielsen Media Research Inc’s “1985 People Meters” “Why do you think local television ratings are important?”

Media Research cont… Important statistics: Audience - # of homes/people exposed Frequency - # of times a viewer in the audience sees or hears an ad Reach - % of target audience that will see or hear an ad at lease once

Product Research Gather information about the product: Design Usage Packaging Acceptance by customers

What Type of Research Am I? Fact and Idea Review

Fact and Idea Review 1. A political candidate conducts an opinion law enforcement issues prior to an election campaign. ATTITUDE 2. Your family receives in the mail a product sample and cents off coupon for reformulated Cheer laundry detergent. PRODUCT

Fact and Idea Review 3. A local radio station asks you to complete a mail-in diary on your listening habits. MEDIA 4. A new, purple mustard is available in Toronto for a limited time. PRODUCT 5. Sales of Ivory liquid soap are tracked for a 12 –month period. MARKET

Fact and Idea Review 6. Polaris predicts that its new all-terrain vehicles will be bought by 35,000 customers. MARKET 7. A website records the number of clicks on a banner ad MEDIA 8. The Gallup Organization conducts a random sample survey about the impact of technology on Canadians. ATTITUDE/MEDIA

Fact and Idea Review 9. McDonald’s tests pizzas in selected stores in the Midwest PRODUCT 10. Ford Motor Company offers a $1500.00 rebate on Escorts during the month of February to increase its sales penetration of the sun-compact car market. MARKET

Fact and Idea Review 11. Fortune magazine has a subscriber survey with each new subscription to determine the most effective advertising message for a particular advertiser. MEDIA 12. Marriott asks overnight guests to complete a customer satisfaction survey ATTITUDE