Marketing Research

1,339 views

Published on

Introductory slides on market research

Published in: Business, News & Politics
0 Comments
5 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,339
On SlideShare
0
From Embeds
0
Number of Embeds
15
Actions
Shares
0
Downloads
195
Comments
0
Likes
5
Embeds 0
No embeds

No notes for slide

Marketing Research

  1. 1. + Market Research http://flickr.com/photos/view/142745616/
  2. 2. Definition <ul><li>The systematic and objective search for information relevant to the identification and solution of any problem in the field of marketing </li></ul><ul><li>Key words </li></ul><ul><ul><li>Systematic and objective </li></ul></ul>
  3. 3. What is it? <ul><li>Consists of activities that enable an organization to obtain the information it needs to make decisions about its: </li></ul><ul><ul><li>Environment </li></ul></ul><ul><ul><li>Marketing Mix </li></ul></ul><ul><ul><li>Present or potential customers </li></ul></ul>
  4. 4. Objectives <ul><li>Identify markets </li></ul><ul><li>Characteristics of markets </li></ul><ul><li>Market trends </li></ul><ul><li>Market changes </li></ul><ul><li>Market opportunities/threats </li></ul><ul><li>Effectiveness of marketing activities </li></ul><ul><li>Analysis of competition </li></ul>
  5. 5. Methods <ul><li>SWOT analysis </li></ul><ul><ul><li>Strengths </li></ul></ul><ul><ul><li>Weaknesses </li></ul></ul><ul><ul><li>Opportunities </li></ul></ul><ul><ul><li>Threats </li></ul></ul>
  6. 6. Methods <ul><li>Secondary information </li></ul><ul><li>Primary information </li></ul><ul><li>Quantitative </li></ul><ul><li>Qualitative </li></ul><ul><li>Internal to organization </li></ul><ul><li>External to organization </li></ul>
  7. 7. Research Data <ul><li>Secondary data is information which has already been gathered </li></ul><ul><li>It is secondary because its use is not purpose for which it was gathered </li></ul><ul><li>Sources </li></ul><ul><ul><li>Government agencies </li></ul></ul><ul><ul><li>International data bases </li></ul></ul><ul><ul><li>Own organization </li></ul></ul><ul><ul><li>Financial institutions </li></ul></ul>
  8. 8. Research Data <ul><li>Primary data is collected from original sources for the purpose of study </li></ul><ul><ul><li>Three ways to do this: </li></ul></ul><ul><ul><ul><li>Observation </li></ul></ul></ul><ul><ul><ul><li>Experiment </li></ul></ul></ul><ul><ul><ul><li>Survey </li></ul></ul></ul>
  9. 9. Need to ask four questions <ul><li>Is the information relevant? </li></ul><ul><li>Is it current or obsolete? </li></ul><ul><li>How accurate is it? </li></ul><ul><li>How credible is the source of the data? </li></ul>
  10. 10. Marketing Research Information <ul><li>Is either: </li></ul><ul><ul><li>Quantitative </li></ul></ul><ul><ul><li>or </li></ul></ul><ul><ul><li>Qualitative </li></ul></ul>
  11. 11. Quantitative <ul><li>“ research aimed at producing data that can be statistically analyse and results that can be expressed numerically .” </li></ul><ul><li>[Dibb, Simkin, Pride and Ferrell 1997] </li></ul><ul><li>This is hard data </li></ul>
  12. 12. Qualitative <ul><li>“ research that deals with information too difficult or expensive to quantify such subjective opinions and value judgements, typically unearthed during interviews or discussion groups.” </li></ul><ul><li>[Dibb, Simkin, Pride and Ferrell, 1997] </li></ul><ul><li>This is soft data </li></ul>
  13. 13. Techniques <ul><li>Surveys </li></ul><ul><li>Questionnaires </li></ul><ul><li>Personal interviews </li></ul><ul><li>Focus groups </li></ul><ul><li>Observation </li></ul><ul><li>Telephone interviews </li></ul><ul><li>Mail interviews </li></ul><ul><li>Experiments </li></ul><ul><li>Test marketing </li></ul>
  14. 14. Research <ul><li>Can be either </li></ul><ul><li>Internal = information gathered from within the company </li></ul><ul><li>Or </li></ul><ul><li>External = information gathered from outside the company </li></ul>
  15. 15. Research <ul><li>Continuous </li></ul><ul><ul><li>Carried out to determine long term trends </li></ul></ul><ul><li>Ad hoc </li></ul><ul><ul><li>Carried out for a particular purpose </li></ul></ul>
  16. 16. 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

×