Market Opportunity

2. Chapter 3 Module 1: Strategic Marketing
versus Tactical Marketing

18. Chapter 3 Module 2: The Marketing
Environment

29. 1. Research Need Determination
The problem situation has to be assessed initially to determine if
marketing research is needed at all.
2. Problem / Opportunity Determination
Both problems and opportunities can be subject of marketing
research.
3. Establishment of Research Objectives
The purpose or research objectives is to gather precise information to
address information gaps
4. Research Design Determination
At this step, methods and procedures for the collection and analysis
of information must be determined

30. 4 Major Types of Research Design
A. Observational – social phenomenon is observed in its natural setting, and
observations can be made any one time or regularly within a period of time.
B. Experimental – includes laboratory experiments and test marketing.
Results from 2 sets of samples are compared.
C. Qualitative – includes focus groups, in depth interviews and projective
techniques. This type of research uses only a small number of respondents.
Thus, results are not reflective of the general population.
D. Quantitative – one example of this type or research is the use of surveys. It
is used to test observations. The number or respondents is relatively large
and randomly selected, and the results are generally reflective of the
population.

31. Steps in the Marketing Research Process
5. Information Source/ Type Identification
2 Basic Types Types of Information :
a. Primary Information – data gathered by the researcher himself for the specific
research problem.
b. Secondary Information – acquired from the previously conducted researches
2 Sources of information :
a. Internal Data
b. Focus Group
6. Determination of Data Access Method
a. Person Administered Surveys
b. Computer Administered Surveys
c. Self Administered Surveys
d. Hybrid Surveys

32. 7. Data Collection Forms Design
Types of questions used in questionnaires :
a. Categorical Response Questions
- Dual or Multiple Choice
b. Open-ended Questions
c. Metric Questions
8. Sample Size and Sampling Plan Determination
Sampling methodology can be nonprobability or probability- based.

34. 9. Data Collection
This is the stage in the process where the questionnaires are administered to the selected
respondents.
10. Data Analysis
At this stage, collected data is summarized and generalized. The differences and relationships
between and among data are determined.
11. Report Preparation and Presentation
The last step in the marketing research process is the preparation and presentation of the report
findings, interpretations, conclusions, and recommendations to marketing decisions makers. This
serves as basis for strategic or tactical decisions.
External Factor Research
The information from these researches helps marketers identify macroenvironmental shifts. These
are the bases in pinpointing opportunities, and anticipating threats.
Observational Research
This is an invaluable aid in determining consumer behavior. It assists marketers in determining the
retails shelf placement strategy to use.

35. Test Marketing
Based on test marketing results, the company shall gauge the acceptability of a proposed product/service.
Target Market Studies
These help identify, quantify and understand the target market better.
Concept, Product Development. And Product Studies
Using the results generated by concept, product development and product studies, marketing organizations shall select the
proposed product / service concepts that have the highest level or market acceptance.
Pricing Tests
Pricing tests can be utilized by marketer’s to calculate a product’s or service’s optimal price to determine price elasticity, or
to determine how price adjustment can affect total demand for the product or service.
Location Studies
Location studies determine ideal retail store locations and is a valuable tool in site selection.
Advertising pre- and post – testing
These tests can determine advertising copy effectiveness, advertising recall, sales promotion response rates, outdoor
advertising traffic results, and the effectiveness of public relations media placement.
Usage, attitude and image studies
These studies can provide cost-effective ways on how to increase a product’s / service’s awareness level and brand trial.

41. 3 PERCEPTUAL PROCESSES GUIDE AN
INDIVIDUAL PERCEPTION :
• Selective Attention
• Selective Distortion
• Selective Retention

48. THANK YOU!