1. Marketing Research The Process

2. Marketing Research Is Important, Blah Blah Blah… Now What? 1. Define the problem/Set goals 2. Gather data 3. Analyze the data 4. Recommend solutions 5. Apply the results

3. Define the Problem & Set Goals What is it you want to find out? ▫Guest satisfaction? ▫Opinion of company? ▫Would people buy your product?  Why? Why Not? ▫Does your product need changes?  What should they be?

4. Pick The Best Method Should you use? ▫Surveys ▫Focus groups ▫Interviews ▫Polls ▫Product testing ▫Media research

5. Gathering Data Two types of data: ▫Primary data – data gathered for a specific purpose for the first time (new clothes) ▫Secondary data – data that has been collected previously for some other purpose (used clothes)

6. Primary Data Types of primary data: ▫Focus group interview – in depth ▫Mail survey – common, convenient ▫Online survey - cheap ▫Telephone survey – fast and effective ▫Telephone interview – in depth ▫Observation method (mystery shopping, nielsen) ▫Point of sale research – lots of information

7. Primary Data Advantages ▫Specific to needs ▫Quality control ▫Current Disadvantages ▫More expensive than secondary ▫Time consuming ▫Issues in creating

8. Secondary Data Types of secondary data ▫Internet sources - free or cheap  Company web sites, digital dossiers ▫Government sources – cheap, official  Census data, industry data ▫Specialized research companies - more expensive, quick, industry specific  Forecasts, demographics, purchase info ▫Business publications – inexpensive, industry specific

9. Secondary Data Advantages ▫Low cost to acquire ▫Ease of access ▫May make primary data unnecessary ▫May show that primary data will be ineffective Disadvantages ▫May not be quality research ▫Not specific to needs ▫May not be current