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Marketing Information Management

Marketing Information Management. Marketing Research. Objectives:. Define marketing research Discuss the primary uses of marketing research and why it is important List the four types of marketing research Explain the limitations of marketing research. What is marketing research?.

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Marketing Information Management

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  1. Marketing Information Management Marketing Research

  2. Objectives: • Define marketing research • Discuss the primary uses of marketing research and why it is important • List the four types of marketing research • Explain the limitations of marketing research

  3. What is marketing research? The systematic gathering, recording, and analyzing of information about problems related to marketing goods and services.

  4. Primary uses of marketing research Obtain information about potential customer: • Preferences • Opinions • Habits • Trends • Plans

  5. Why is marketing research important? Marketing research helps companies answer the following questions: • What products to produce • Who is your primary customer • Where should the products be sold • How will the products be promoted • At what price will the product sell

  6. 4 Areas of Marketing Research: • Market Research • Product Research • Advertising Research • Sales Research

  7. Customer Trends Buying behavior or how buying decisions are being made Market Trends What the customers are buying 1.Market Research Focuses on the customer and the market

  8. Common Techniques for Market Research • Questionnaires • Focus Groups • Mall Interviews • Phone Interviews • Mystery Shoppers

  9. 2. Product Research Focuses on the product itself • Product design • Product usage • Product acceptance • Package design • Competitive products

  10. Common Techniques for Product research • Test Market • Product Samples • Mail • Newspaper • In Store

  11. Media Type Advertisement Itself 3. Advertising Research Two Areas:

  12. TV Radio Newspaper Magazine Is it reaching your target? Reach Do they remember the message? Recall How many times are they seeing it? Frequency Return on cost Media Type Focuses on:

  13. Advertising Design Ad Layout Message

  14. Testing Advertising Research • Consumer panels • Usually a group of people who share common characteristics • Target audience • Ad recall • Written Diaries

  15. 4. Sales Research The study of sales data

  16. Primary use • Sales Forecasting: determining the potential sales for a product • Economic Forecasting: determining the potential economic conditions

  17. Limitations of Marketing Research • Cost $$ • Time • Customer commitment / Validity of data • The time lag between research and the application

  18. Review • What is marketing research? • Primary uses of marketing research is to obtain what type of information about potential customers?

  19. Activity

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