Marketing Research

1. INTRODUCTION
TO MARKETING RESEARCH
October, 2021

2. General Research
Quest for information!
Answering QUESTIONS & Getting new KNOWLEDGE

3. Research – Pillar of scientific progress
Biology
Physics
Psychology
Medicine
Botany
Geography
Chemistry
IT Technology
Еconomics
Geology
Dentistry
Architecture
Ecology
Improves
the way we live!

4. General (common) features of research
Problem!
Collecting information!
Analysis,
processing of
data
Final decision!
Method for
collecting
information!

5. Difference between
Research & Marketing research
Marketing decisions

6. Marketing research content
Marketing decisions
Wants & Needs Profit

7. Marketing research content
Communication with environment

8. Marketing research content
Environment is complex!
New needs & wants
New markets
Competition
New technology
Environment concern
Shortage of materials
New consumers
Political issues
Coronavirus
---------

9. Marketing research some statistics:
Companies worldwide lose
½ consumers every 5
years
RELEVANT, ACCURATE,
PRECISE, TIMELY
INFORMATION
More than 2/3 of
companies fail because
they offer what people
don’t want!

10. Classification of Marketing research
Problem identification
research
Problem solving research
Promotion
Distribution
Pricing
Product
Market share
Market potential
Sales analysis
Forecasting & trends
Problem identification & Problem solving
are used simultaneously!

11. Classification of Marketing research
Kellogg’s – Multinational food manufacturing company, USA
PROBLEM: Drastic decline in cereal consumption!

12. Classification of Marketing research
Problem identification
research Problem solving research
Prices related to quality!
Creative ads!
New products, new flavors,
larger quantities
New advertisements for all
generations!
Older people love cereals too!
Advertisements focused on
kids only!
Prices are too high!
Fast food and semi-ready food
are popular!
Increased Sales & Increased
cereal consumption!
Uncreative ads!

13. Classification of Marketing research

14. Classification of Marketing research

15. Classification of Marketing research
EXERCISE: Determine whether following statements are related to
problem-identification or problem solving research
1) Our new product, cherry wine, is not sold in any store!
2) After the research, the management will reduce the price of rice
3) We have a lot of competition now, that threatens the consumption of our
detergents
4) Management must sell abroad! The best market is in India!
5) The promotion of our cakes must be realized through Facebook as well!
6) Due to the coronavirus our restaurant must be closed!
7) Consumers are looking for a new design of our perfume!

16. Classification of Marketing research
EXERCISE: Determine whether following statements are related to
problem-identification or problem solving research
1) Our new product, cherry wine, is not sold in any store! PI
2) After the research, the management will reduce the price of rice PS
3) We have a lot of competition now, that threatens the consumption of our
detergents PI
4) Management must sell abroad! The best market is in India! PS
5) The promotion of our cakes must be realized through Facebook as well! PS
6) Due to the coronavirus our restaurant must be closed! PI
7) Consumers are looking for a new design of our perfume! PS

17. Marketing research with
Internal and External data
INTERNAL DATA EXTERNAL DATA
Chamber of commerce
Internet
International
organizations
Statistical office
Agencies
Sales department
Accounting
Surveys

18. Marketing research with External data
Pepperidge Farm – commercial bakery
(cookies, breads, crackers....)

19. Marketing research with External data
 Life style & habits
 Eating habits
 Men v.s women
 Interviews with locals
 Pastry (test) sample
 Limited sale
 New brand name
 Packing, serving
 Way of advertising
 Competition
Success after 2 YEARS
from the first product idea!

20. Marketing research with External data

21. Marketing research with Internal data

22. Marketing research with Internal data
 High demand in Alaska
Acceptable unit price = 87.719$
 No luxury cars (Cadillac,
Jaguar)
 Budget car (Chevrolet)
 More quality, engineering,
technical features, performance,
durability
 Less fashion, luxury, color,
exterior, design
NEW ADS!

24. EXERCISE: Do Marketing research with
External data!
MUSEUM!

25. EXERCISE: Do Marketing research with
External data!
UNIVERSITY!

26. Factors for conducting Marketing
research
Management’s will
Resources for implementation of
research results
Resources for conducting research
Costs / Benefits Ratio

27. Factors for conducting Marketing
research
Vis = (Dis-Din)-Tis
Vis > o
Vis- Net value of Marketing research
Dis - Value of a Marketing decision with information
Din- Value of a Marketing decision without information
Тis –Costs for Marketing research
BORIS TIHI
Costs / Benefits Ratio

28. Homework
By using External data, do marketing research for the following
marketing opportunity:
Opening of a Starbucks cafeteria in the center of Skopje