Bmgt 311 chapter_2
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The document summarizes the marketing research industry, including its history and structure. It discusses how the industry has evolved from early studies conducted in the 1900s to address the needs of large manufacturers. Today, marketing research is conducted by both internal company teams and external supplier firms of various sizes. The industry faces criticisms around ethical issues and an overemphasis on techniques rather than understanding client businesses, though professional associations work to address these concerns and improve standards.
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Bmgt 311 chapter_2
This chapter discusses the marketing research industry. It provides a brief history of the industry beginning in the early 1900s. There are two main types of marketing research firms - internal suppliers that conduct research for their own organizations, and external suppliers that are hired by other companies. External suppliers can be full-service firms that handle entire projects or limited-service specialists. The industry aims to improve ethical standards and practices through initiatives like best practice guidelines and certification.
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Bmgt 311 chapter_2
This chapter discusses the marketing research industry. It provides a brief history of the industry beginning in the early 1900s. There are two main types of marketing research firms - internal suppliers that conduct research for their own organizations, and external suppliers that are hired by other companies. External suppliers can be full-service firms that handle entire projects or limited-service specialists. The industry aims to improve ethical standards and practices through initiatives like best practice guidelines and certification.
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The document discusses various topics related to products and services, including:
1. It defines what constitutes a product and different types of products such as consumer goods, industrial goods, durable goods, and nondurable goods.
2. It outlines the new product development process which involves idea generation, concept development and testing, marketing strategy development, and commercialization.
3. It describes the product life cycle which consists of introduction, growth, maturity, and decline stages.
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The document provides an overview of marketing information systems (MIS) and international marketing information systems (IMIS).
[1] It defines MIS as a computer-based system that supports marketing decision making through the collection, analysis and presentation of internal and external information. IMIS helps address the dual problems of information abundance and scarcity in global markets.
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New product development
The document outlines the key steps in new product development: idea generation, product screening, concept testing, business and financial analysis, product development, test marketing, and commercialization. It then discusses various methods for generating new product ideas such as dimensional analysis, problem analysis, and benefit structure analysis. The document also identifies three key factors for effective new product development according to research: having a high-quality new product process, a clear new product strategy, and devoting adequate resources to new product development.
Product And Product Lines 8
1. The document discusses various aspects of product planning and management, including product classification, product life cycles, and strategies for different stages of the life cycle.
2. It describes core and augmented product features, and different types of products including generic, expected, potential, consumer, and industrial products.
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Product management, levels of products & classification of product.
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It's an informative presentation especially in Marketing/ Advertising sectors. Containing several guidelines and pictures as examples.
Try to have a peek. I'm sure you will enjoy it.
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The document discusses the nature and scope of marketing research. It defines market research as the acquisition of primary data about customers and demand for products, while marketing research is the broader systematic process of generating information to aid marketing decisions. Marketing research covers areas like market research, new product testing, advertising effectiveness, and research on competitors. It is used by organizations to better understand customers, identify opportunities, evaluate marketing actions, and monitor performance.
What is Market Research?
This presentation gives a brief introduction on what is market research and how to conduct market research.
Research marketing mbm
This document discusses conducting marketing research. It defines marketing research as the systematic process of gathering, analyzing, and reporting data to inform decision-making regarding a company's environment, marketing mix, and customers. Several methods of conducting marketing research are described, including collecting existing market data from sources like government and trade publications, and performing original research through qualitative methods like interviews and focus groups or quantitative methods like surveys. The importance of developing a research plan and properly selecting sample populations is also emphasized.
Marketing research
Marketing research involves collecting and analyzing information to make informed marketing decisions. It helps complement marketing strategies by enabling companies to select target markets and design appropriate products and services. Key steps in marketing research include defining problems, collecting primary and secondary data through qualitative and quantitative methods, analyzing the data, reaching conclusions, and implementing solutions. Common research agencies in India are IMRB International and RNB Research. Demand forecasting estimates future sales and involves techniques from simple surveys to complex statistical methods.
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The document discusses elements that should be included in a marketing research report, including the importance of the report, formatting, and use of visualizations. It provides guidelines for each section of the report such as the introduction, methods, results, conclusions and recommendations. The document also discusses best practices for presenting research orally and avoiding plagiarism. Key visualization tools mentioned include tables, graphs, pie charts and bar charts. Formatting elements covered include the title page, table of contents, references, and appendices.
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This document provides an overview of regression analysis techniques used in marketing research. It describes bivariate regression, which uses one independent variable to predict another dependent variable. It then explains multiple regression, which uses two or more independent variables to predict a dependent variable. The document provides an example of a multiple regression equation predicting consumer intention to purchase a Lexus. It also outlines key assumptions and concepts in multiple regression like determining which variables influence the dependent variable and by how much.
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Bmgt 311 chapter_2
- 1. BMGT 311: Chapter 2 Chapter 2: The Marketing Research Industry 1
- 2. Learning Objectives • To learn a brief history of the marketing research industry • To learn the different types of marketing research firms and the industry structure • To be aware of criticisms of the industry and the industry’s focus on self- improvement 2
- 3. Learning Objectives • To appreciate the areas of ethical sensitivity in the marketing research process and to examine the ethical codes and standards developed by professional associations serving the marketing research industry • To learn about careers in the marketing research industry 3
- 5. Earliest Known Studies • Charles Coolidge Parlin is known as the “father of marketing research.” • Parlin conducted the first continuous marketing research in the early 1900s for the Curtis Publishing Company. • The purpose of Parlin’s research was to increase advertising for The Saturday Evening Post magazine. 5
- 6. 20th Century Led to a “Mature Industry” • The Industrial Revolution led to manufacturers producing goods for distant markets. • Manufacturers needed to know about faraway consumers. • This led to the growing need for marketing research. 6
- 7. Who Conducts Marketing Research? • Internal suppliers: organizations that supply their own marketing research information • Client-side research: conducted by internal suppliers • DYI research: facilitated by Internet access to secondary data and better knowledge of data analysis software such as SPSS 7
- 8. Who Conducts Marketing Research? • External suppliers: outside firms hired to fulfill a company’s marketing research needs • Agency: firm specializing in marketing research and offer their services to buyers needing information to make more informed decisions 8
- 9. Firm Size by Employees Firm Size by Employees 9
- 10. Firm size by revenue 10
- 11. Pittsburgh Firms • Campos: http://campos.com • Direct Feedback: http:// www.dfresearch.com • Tripp Umbach: http:// www.trippumbach.com 11
- 12. Industry Structure • Types of firms and their specialties • Full-service supplier firms: have the capability to conduct the entire marketing research project for buyer firms • Limited-service supplier firms: specialize in one or, at most, a few marketing research activities 12
- 14. Industry Performance: Industry Revenues and Profits • ESOMAR (International Association of Research Professionals) estimates worldwide revenues for the marketing research industry at $31.2 billion. • Revenues vary around the world. 14
- 15. Industry Performance: Qualitative Evaluation • Questions about what constitutes marketing research • New methods to collect and analyze consumer information (primarily from social media) and challenges traditional marketing research information- gathering techniques • Mistreatment of respondents • Too many requests for research, overly long surveys, and breaches of promised anonymity have led to a decrease in the number of respondents willing to take part in research. 15
- 16. Industry Performance: Qualitative Evaluation • Marketing research is too focused on techniques • Clients may steer clear of companies that promote their standardized technique, preferring to work with firms over a longer time to develop an understanding of their business. • Marketing research viewed as a commodity • Too many executives view marketing research as providing a commodity to be outsourced to “research brokers,” who are hired to conduct a component of the research process when they should be involved in the entire process. 16
- 17. Industry Initiatives • Best practices • Maintaining public credibility of research • Monitoring industry trends • Improving ethical conduct (Know Sugging and Frugging For Test 1) • Certification of qualified research professionals • Continuing education 17