1. Marketing Research Marketing Information Systems #1 Today I am: becoming familiar with the purpose of marketing research. So I can: explain the purpose of a marketing research system. I will know I am successful when: I can develop and conduct market research with clear results that represent the wants/needs of consumers.

2. Who conducts marketing research? Literally everyone Do YOU ever engage in research of a market personally? Do you ever want to be as-sure-as-possible about something before moving forward?

3. Essential Question: How do you know your product will sell? Make sure there is a market for the product Locate need and fill the need Example: Stouffer’s Lean Quisine brand Before launch, 13 years of research Result? $125 million in sales in year one alone

4. Marketing Research – the process and methods to gather information, analyze it and report findings related to marketing goods and services Question – Why is marketing research important? Answer #1 – The information obtained helps businesses increase sales and profits Answer #2 – Tells you what products to produce identifies consumer wants, needs & preferences solve marketing problems keep track of competition Answer #3 – Evaluates the effectiveness of current marketing plans

5. Marketing Information System – set of procedures and methods that regularly generates, stores, analyzes and distributes information for use in making marketing and other business decisions Essentially, a system is needed to makes sense if information gathered

6. Table assignment – with the product line given to you, create two products within your assigned business and then conduct research to help you decide which is better. Build at least four questions using a 1-5 rating system or multiple choice format for each to will help you determine which will sell best to your classmates. Think carefully about what you ask and how you ask it. Type the questions and print onto a single sheet of paper. Two sets of questions per page (the questions must fit onto ½ sheet). Print 12-16 copies, cut them in half and distribute to other tables. Title it with the product category and table number. For example, Table 3, Video Game Return completed surveys to proper table and tally results. We will report the results when finished. Surveys are due to be printed at the end of the period. We will hand out and calculate results tomorrow. 1 – fast food salad 2 – hamburger3 – video game4 – shoe company 5 – nutrition bar 6 – candy bar7 – coffee drink8 – Smoothies