1. Marketing Fundamentals Unit
Market Research
Marketing Fundamentals Unit

2. MARKETING RESEARCH
The systematic collection, analysis, and interpretation of information used to develop a marketing strategy or to solve a marketing problem
Provides HARD DATA – information based on supportable facts

3. To find out what consumers want and need
WHY RESEARCH?
To find out what consumers want and need
To gather information about the consumers
To solve a problem

4. PRIMARY RESEARCH
New information collected by a researcher for a specific purpose
Qualitative Research is used to measure people’s reactions, responses, or feelings toward a given subject or problem (ex. opinion poll, focus group)
Quantitative Research involves collecting data by surveying a sample of a population (ex. TV Ratings)

5. SOURCES OF PRIMARY DATA
Taste test
Observation
Survey
Test Marketing
Focus Groups
Data Mining

6. SECONDARY RESEARCH
Information that has been collected and published by others
Information is secondhand
Much less expensive to conduct than primary research
Usually collected first before primary research

7. SOURCES OF SECONDARY DATA
Books
Periodicals/Databases
Internet
Research Professionals
Environics
Government (Statistics Canada)