Marketing Research

Presented by:

Dennis OrtegaSheryl

Arambala Lauren Kate

SalvadorRobert Patrick

Lee

Definition

-is the process of collecting and using information for marketing decision making. - It aids decision makers by presenting pertinent data that transforms it into useful information and suggesting possible actions.

Development of Marketing Research

-N.W. Ayer, the first organized marketing research project in 1879.

- Charles C. Parlin in 1911, first commercial research at Curtis Publishing Company

Marketing Research Suppliersa.Syndicated Services- an organization that

provides a standardized set of data to all customers.

b.Full-Service Research Suppliers- an organization that contracts with clients to conduct complete marketing research projects.

c.Limited-Service Research Suppliers- a marketing research firm that specializes in a limited number of activities.

Marketing Research Activities a. Scanning Activities

- search for opportunities and challenges in the firm’s environment

b. Risk Assessment

- helps the firm to measure the cost and benefits of a particular course of action.

c. Monitoring

- these includes analyzing sales and profit data, customer satisfaction levels and results from advertising and promotion programs.

- defined as diagnostic tools

Marketing Research Processa. Defining the Problem

- well defined questions - avoid confusing symptoms of a problem with the problem itself

b. Conducting Exploratory Research

- seeks to discover the cause of a specific problem

- usually includes evaluation of company records, such as sales and profit analysis and data about the sales and profits of competitor’s products

Using Internal Data

a. Sales Analysis - compares actual and expected sales based on a detailed sales forecast by territory, product, customer, and salesperson.

b. Ratio Analysis – compares performance in current and previous years against industry benchmarks.

c. Marketing Cost Analysis – evaluation of expenses for tasks like selling, warehousing, advertising and delivery in order to determine the profitability of particular customers, territories and product lines.

c. Formulating a Hypothesis

- a tentative explanation for some specific event

- a statement about the relationship among variables that carries clear implications for testing this relationship

d. Creating a Research Design

- a series of decisions that taken together comprise a master plan or model for conducting marketing research

- selection of respondents

e. Collecting Data - Primary – refers to data collected for

the first time especially for marketing research study.

- Secondary – is data from previously published or compiled sources.

Advantages:

- it is almost always less expensive to gather.

- researchers usually must spend less time to locate and use secondary data.

f. Interpreting and Presenting the Research Information

- interpret the findings and present the research information in a format that allows them to make effective judgments

- conclusions must be clear, concise and actionable terms

- should outline technical details of the research methods in an appendix

Areas of Mutual

Understanding

Research User’s Knowledge

and Experience

Marketing Researcher’s Knowledge

and Experience

Marketing Research MethodsSecondary Data Collection

Two types:

- Internal (sales reports, product performance reviews, sales force activity results and marketing cost reports)

- External ( gov’t records, syndicated research services and industry publications)

Other Source of Data

Government Data Private Data Online Sources Data Sampling Techniques

Sampling – is the process of selecting survey respondents.

Probability Samples

Simple Random Sample

Stratified Samples

Cluster Samples

Nonprobability Samples

Convenience Samples

Quota Samples

Primary Research Methods

Observation Method

Survey Method

- Telephone Interviews

- Personal Interviews

- Focus Groups

- Mail Surveys

- Fax Surveys

- Online Surveys

The Experimental Method

Computer Technology in Marketing Research

The Marketing Information System (MIS)- planned computer-based system designed to provide managers with a continuous flow of information relevant to their specific decisions and areas of responsibility.

The Marketing Decision Support System (MDSS)- marketing information system component that links a decision maker with relevant databases and analysis tools.

Data Mining - process of searching through customer information files to detect patterns that guide marketing decision making.

Thank You!GOD BLESS

YOU