Marketing Research – Short Outline

MARKETING RESEARCH General information rendering Systematic and objective collection and analysis of information for the purpose of termination making in marketing Key functions Studies consumer behaviour Helps identify marketing opportunities & problems Helps evaluate companys marketing performance Helps select/ make better marketing strategy Marketing Research ? Market Research Provides selective information on Provides data on companys environment companys take in roducts/services/current customers The Marketing Research Process 1. Problem comment 1. 1 Formulating decision problem (e. g. how to price new product) 1. 2 determine purpose scope of enquiry 2. Research Design Exploratory research understanding the nature of a problem Conclusive research respond research questions 2. 1 Choosing Types of data Facts Opinions Motivations 2. 2 Locating Sources of data supplementary data (previously published) Primary data (obtained directly from the consumer) 2. 3 Methods of Collecting entropy from primary sources Observation Analysing customer? s behaviour Self-reporting Focus pigeonholing take part in a discussion to analyse pecks reaction to special topics Projective technique respondents are asked to say the first gear word that comes into their minds upon a specific topic Questionnaire Mail Online Telephone -Personal 2. 3 Selecting the SampleSample Group of elements (persons, stores, financial reports) chosen from among a total population prospect sample Each unit has a known chance of be selected Nonprobability Sample Sampling units are selected arbitrarily 2. 4 Anticipating the Results = Making a plan about how the marketing research and the final report pull up stakes be designed 3. Research Conduction = Implementing the research plan 4. selective information Processing = Transforming the information obtained into a report for management