Marketing Research
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Marketing Research

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Introductory slides on market research

Introductory slides on market research

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    Marketing Research Marketing Research Presentation Transcript

    • + Market Research http://flickr.com/photos/view/142745616/
    • Definition
      • The systematic and objective search for information relevant to the identification and solution of any problem in the field of marketing
      • Key words
        • Systematic and objective
    • What is it?
      • Consists of activities that enable an organization to obtain the information it needs to make decisions about its:
        • Environment
        • Marketing Mix
        • Present or potential customers
    • Objectives
      • Identify markets
      • Characteristics of markets
      • Market trends
      • Market changes
      • Market opportunities/threats
      • Effectiveness of marketing activities
      • Analysis of competition
    • Methods
      • SWOT analysis
        • Strengths
        • Weaknesses
        • Opportunities
        • Threats
    • Methods
      • Secondary information
      • Primary information
      • Quantitative
      • Qualitative
      • Internal to organization
      • External to organization
    • Research Data
      • Secondary data is information which has already been gathered
      • It is secondary because its use is not purpose for which it was gathered
      • Sources
        • Government agencies
        • International data bases
        • Own organization
        • Financial institutions
    • Research Data
      • Primary data is collected from original sources for the purpose of study
        • Three ways to do this:
          • Observation
          • Experiment
          • Survey
    • Need to ask four questions
      • Is the information relevant?
      • Is it current or obsolete?
      • How accurate is it?
      • How credible is the source of the data?
    • Marketing Research Information
      • Is either:
        • Quantitative
        • or
        • Qualitative
    • Quantitative
      • “ research aimed at producing data that can be statistically analyse and results that can be expressed numerically .”
      • [Dibb, Simkin, Pride and Ferrell 1997]
      • This is hard data
    • Qualitative
      • “ research that deals with information too difficult or expensive to quantify such subjective opinions and value judgements, typically unearthed during interviews or discussion groups.”
      • [Dibb, Simkin, Pride and Ferrell, 1997]
      • This is soft data
    • Techniques
      • Surveys
      • Questionnaires
      • Personal interviews
      • Focus groups
      • Observation
      • Telephone interviews
      • Mail interviews
      • Experiments
      • Test marketing
    • Research
      • Can be either
      • Internal = information gathered from within the company
      • Or
      • External = information gathered from outside the company
    • Research
      • Continuous
        • Carried out to determine long term trends
      • Ad hoc
        • Carried out for a particular purpose
    • Conducting Market Research 1. Establish purpose or aim of research (objective) 2. Determine information requirements 3. Select suitable methods/techniques 4. Conduct research 5. Collate, analyse and interpret data 6. Report the findings