Marketing Research

Marketing The oldest saying in business is “the customer is always right” We will change this slightly to “the consumer is always right” – What is the difference? Too many businesses try to tell the consumer what their wants and needs are

Review of Marketing Definition Marketing is the sum of all the activities involved in planning, pricing, promoting, distributing, and selling of goods and services to satisfy consumers’ needs and wants. – Need – necessary for survival – Want – Make your life pleasant

Marketing It is the job of the marketer to find out the needs and the wants of their potential customers In that way – a marketer is like a psychiatrist – understanding the human mind and getting inside the head of their consumers

Marketing Research Textbook Definition: Systematic collection, analysis, and interpretation of information used to develop a marketing strategy or to solve a marketing problem. Provides information based on supportable facts. Short Definition: Listening to the consumer, recording their thoughts and opinions in order to effectively plan your marketing strategy.

When have you been part of marketing research?

Marketing Research Examples Comment cards – Any restaurant Telephone Surveys – Rogers Focus Groups Taste Tests Census Traffic Wires Observation – Hidden cameras Questionnaires – Many done online now – After you purchased...

Market Research Activity Your task is to survey the class as quickly as possible on the following topics in order to collect data – Age range in the class – Colour of eyes – Favourite subject – Favourite food