1. MARKETING RESEARCH TYPES, TRENDS AND LIMITATIONS Chapter 28.2

2. Issues in Marketing Research
By the end of class, students will be able to:
Identify the two main types of marketing research.
Differentiate between the four methods of conducting marketing research.
Discuss trends and limitations in marketing research.

3. BRAIN WARMER
PREDICT What would happen if marketing research was not used in product development?

4. Marketing Research Terminology
quantitative research
qualitative research
attitude research
market intelligence
media research
product research

5. Two Types of Marketing Research
Two Broad Types of Research
QUANTITATIVE Research
QUALITATIVE Research
Quantitative Research
Marketing research that answers questions that begin with “how many” or “how much.” It often gathers information from large random samples.
Qualitative Research
Marketing research that focuses on smaller numbers of people and tries to answer questions that begin with “why” or “how.”

6. How might a company use Marketing Research?
TACO BELL used new product development research to uncover the potential sales and market for a new version of the taco. Doritos Locos Tacos was the MOST successful product in 2012 with over 370 million sold. That’s over 1 Million Tacos daily! Doritos Locos Tacos Commercial
VW performed customer satisfaction research on its Volkswagon Beetle convertibles which sparked the idea for the following commercial:
VW Convertible Commercial

7. Types of Marketing Research
Attitude Research
Attitude Research
**The Gallup Poll has measured and tracked the public’s attitudes concerning virtually every political, social and economic issue of the day in more than 140 countries.
Mail surveys
Telephone interviews
Opinion polls
Attitude Research
Also known as opinion research; designed to obtain information on how people feel about certain products, services, companies, or ideas.

8. Types of Marketing Research
Market Intelligence
**Learning about competitor’s products is a key component of marketing intelligence.
Market Intelligence
Sales forecasting
Economic forecasting
Competitive products
Market Intelligence
Also known as market research; concerned with the size and location of a market, the competition, and segmentation within the market for a particular product.

9. Types of Marketing Research
Media Research
Media Research
Brand awareness
Advertisement recall
Brand image
Effectiveness of advertising copy
Audience size
Media Research
Also known as advertising research; focuses on issues of media effectiveness, selection, frequency, and ratings.

10. Types of Marketing Research
Product Research
Product Research
New product research includes concept testing
Existing product research includes questionnaires and interviews
Product Research
Research that centers on evaluating product design, package design, product usage, and consumer acceptance of new and existing products.
**Research shows that about half of new products introduced into the marketplace fail within the first two years of their product launch.

11. Types of Marketing Research
Product Research Continued
Product Research
New product research includes concept testing
Existing product research includes questionnaires and interviews
Stouffers performed research for 13 years before launching Lean Cuisine. They were so successful that they had $125 million in sales their first year!
Some companies are so quick to “get in the game” that they may not do their research. For example……
**Research shows that about half of new products introduced into the marketplace fail within the first two years of their product launch.

12. Types of Marketing Research
Qualitative & Quantitative Research
Attitude Research
Market Intelligence
Media Research
Product Research
Mail surveys
Telephone interviews
Opinion polls
Sales forecasting
Economic forecasting
Competitive products
Brand awareness
Advertisement recall
Brand image
Effectiveness of advertising copy
Audience size
New product research includes concept testing
Existing product research includes questionnaires and interviews

13. Issues in Marketing Research
Trends in Marketing Research
Global Trends in Marketing Research
Globalization of the marketplace means increased competition.
Product quality and customer satisfaction are more important than ever.
Use of internal and external information for managing a business is mandatory.
Research of other cultures is important to a product’s success in a foreign market.
MCDONALD'S EGYPT COMMERCIAL
MCDONALD'S JAPAN COMMERCIAL
MCDONALD'S INDIA COMMERCIAL

14. International Marketing Research
Global Corporations like McDonald’s perform intensive new product development research before launching new menu items in the marketplace.
McDonald's Menu Items From Around the World

15. Issues in Marketing Research
Limitations of Marketing Research
The amount of information that can be gathered is limited by money and time.
Favorable customer reviews do not guarantee a product’s success.
Fast-changing markets may not allow time for research.

16. Chapter 28 - Marketing Research Review
MARKETING RESEARCH QUIZ
Directions
Read the statements about marketing research and determine whether each is true or false. Write TRUE or FALSE in the space before each statement.
IF an answer is FALSE, please re-write the false statement to make it true.