it discusses marketing research and marketing information system

1. Market Research
Module 4

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Module 4
Market Research and Marketing Information Systems

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Importance of Market Research
● Definition: The process of gathering, analyzing, and
interpreting data about the market.
● Why It Matters:
1. Understand customer needs.
2. Identify market opportunities.
3. Reduce risks in decision-making.

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Primary and Secondary Data
1. Primary Data: Collected first-hand for a specific purpose.
○ Example: Surveys, focus groups.
2. Secondary Data: Existing data collected for other
purposes.
○ Example: Industry reports, government publications.

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Marketing Research Process
1. Define the Problem:
○ Identify the research question.
○ Example: Why are sales of a product declining?
2. Develop the Research Plan:
○ Choose methods (e.g. surveys, focus groups).
○ Example: Conducting focus groups to test a new product
concept.
3. Collect Data:
○ Gather primary or secondary data.
○ Example: Use CRM data for customer purchase history.

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4. Analyze Data:
○ Identify patterns and insights.
○ Example: Analyze survey results to measure
customer satisfaction.
5.Present Findings:
○ Share actionable insights.
○ Example: A presentation on why customers prefer
competitors’ pricing strategies.

7. Thankyou!
Any questions?
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