1. Marketing Research

2. What is it?
Systematic gathering, recording, and analyzing of information about problems/questions related to marketing goods and services.

3. Why is it important? Increase sales and profits
Helps solve marketing problems/anticipate future problems
Tracks what’s happening in the market

4. Research is done by owners, employees, etc.
Who Uses It?
Organizations of any size
Businesses making less than $5 million
Research is done by owners, employees, etc.

5. Four General Types of Marketing Research
Advertising Research
Product Research
Market Research
Sales Research

6. Advertising Research Focuses on advertising message
Focuses on form of media TV
Billboard
Magazine
Consumer feedback
Focus groups

7. Product Research Evaluating product design & acceptance Example:
Movie “Big”
Tom Hanks – occupation was
primarily testing products

8. Market Research Focus on customer and market
Used to gather information
Study consumers attitudes

9. Sales Research Study of sales data
Goal is determine potential sales for a product
Solve problems
related to future
sales

10. Marketing Research Limitations
Lack of time to research
No guarantee consumers will buy a product
Ex: Costco – sampling free food
Customer buying habits change