Marketing research is the systematic process of designing, collecting, analyzing, and reporting information to solve specific marketing problems. This group will conduct marketing research to help a company make effective decisions. They will systematically collect and analyze objective information, then make recommendations based on their findings. The research will help managers by providing helpful insights into customer needs, reducing risks, and forecasting trends.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
In this part, we define and classify marketing research and set out a six-step marketing research process. We discuss the nature and scope of marketing research and explain its role in decision support system.
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
Presentation I created for my Marketing Research class at Kennesaw State. We were required to perform the entire market research process from creating a survey to analyzing the results.
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
In this part, we define and classify marketing research and set out a six-step marketing research process. We discuss the nature and scope of marketing research and explain its role in decision support system.
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
Presentation I created for my Marketing Research class at Kennesaw State. We were required to perform the entire market research process from creating a survey to analyzing the results.
Market Research is the process of systematically gathering records and analyzing data and information about customers, competition and the market.
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Introduction to primary market researchElaine Chen
This talk is targeted towards a technical audience (e.g. engineers and scientists) who are encountering primary market research (PMR) for the first time in their quest to build a great product that solves real life problems.
In this talk, we first explore why PMR is important, then we use a real life product example to look at how different research methodologies can be used to answer questions and validate hypotheses at different stages of the product development process. We close the talk by offering some tips and tricks to help people get started with PMR.
Third year presentation in college,this presentation is all about implementing our knowledge in International Business Management Course that we have studied in college last Spring Semester.
Gain a more detailed understanding of consumers’ needs:
e.g., views on products’ prices, packaging, recent advertising campaigns
Reduce the risk of product/business failure:
-there is no guarantee that any new idea will be a commercial success
-Can help to achieve commercial success
Forecast future trends:
-it can also be used to anticipate future customer needs
1. Marketing Research
2. Marketing
3. Marketing Research
4. Marketing Research
5.Need of M.R.
6. Purpose of M.R.
7. M.R. Methods
8. M.R. Methods
9.Classification of M.R.
10.Key to successful M.R.
The Chicken Coop Case Analysis Problem Statement Daryl Buckmeister, CEO of The Chicken Coop, must decide whether to invest in market research or any other.
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Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
2. Member groups :
CREATED BY:
•RENY SARAH A. (C1L012017)
•MELITA SARI (C1L012043)
•KURNIATI PURBA N. (C1L012051)
•THERESIA Y.P. (C1L012053)
3. E Effective decision making
S Systematic and objective
E Exude or disseminate information
A Analysis of information
R Recommendation for action
C Collection of information
H Helpful to managers
R Recognition of information needs
RESEARCH
4. Marketing Research: Definition
• Many definitions of Marketing Research:
– “Marketing research is the systematic design, collection, analysis
and reporting of data and findings relevant to a specific marketing
situation facing the company.”
– Marketing research is the process of designing, gathering,
analyzing, and reporting information that may be used to solve a
specific marketing problem.
5. Definition of Marketing Research
Marketing research is the systematic and objective
identification
collection
analysis
dissemination
and use of information
For the purpose of improving decision making related to the
identification and
solution of problems and opportunities in marketing.
6. Need For Marketing Research
• Why do businesses need accurate and up-to-date information?
– To undertake marketing effectively
– Changes in technology
– Changes in consumer tastes
– Market demand
– Changes in the product ranges of competitors
– Changes in economic conditions
– Distribution channels
7. Purpose Of Marketing Research
• Gain a more detailed understanding of consumers’ needs:
– e.g., views on products’ prices, packaging, recent
advertising campaigns
• Reduce the risk of product/business failure:
– there is no guarantee that any new idea will be
a commercial success
– Can help to achieve commercial success
• Forecast future trends:
– it can also be used to anticipate future customer needs
8. Types of marketing research
• Marketing research techniques come in many forms, including:
Ad Tracking – periodic or continuous in-market research to monitor a brand’s performance using
measures such as brand awareness, brand preference, and product usage. (Young, 2005)
Advertising Research – used to predict copy testing or track the efficacy of advertisements for any
medium, measured by the ad’s ability to get attention (measured with AttentionTracking),
communicate the message, build the brand’s image, and motivate the consumer to purchase the
product or service. (Young, 2005)
Brand equity research - how favorably do consumers view the brand?
Brand association research - what do consumers associate with the brand?
Brand attribute research - what are the key traits that describe the brand promise?
Brand name testing - what do consumers feel about the names of the products?
Commercial eye tracking research - examine advertisements, package designs, websites, etc. by
analyzing visual behavior of the consumer
Concept testing - to test the acceptance of a concept by target consumers
Coolhunting - to make observations and predictions in changes of new or existing cultural trends in
areas such as fashion, music, films, television, youth culture and lifestyle
Buyer decision making process research - to determine what motivates people to buy and what
decision-making process they use; over the last decade, Neuromarketing emerged from the
convergence of neuroscience and marketing, aiming to understand consumer decision making
process
9. Copy testing – predicts in-market performance of an ad before it airs by analyzing
audience levels of attention, brand linkage, motivation, entertainment, and
communication, as well as breaking down the ad’s flow of attention and
flow of emotion. (Young, p 213)
Customer satisfaction research - quantitative or qualitative studies that yields an
understanding of a customer's satisfaction with a transaction
Demand estimation - to determine the approximate level of demand for the
product
Distribution channel audits - to assess distributors’ and retailers’ attitudes toward
a product, brand, or company
Internet strategic intelligence - searching for customer opinions in the Internet:
chats, forums, web pages, blogs... where people express freely about their
experiences with products, becoming strong opinion formers.
Marketing effectiveness and analytics - Building models and measuring results to
determine the effectiveness of individual marketing activities.
Mystery consumer or mystery shopping - An employee or representative of the
market research firm anonymously contacts a salesperson and indicates he or she
is shopping for a product. The shopper then records the entire experience. This
method is often used for quality control or for researching competitors' products.
Positioning research - how does the target market see the brand relative to
competitors? - what does the brand stand for?
10. Price elasticity testing - to determine how sensitive customers are to price
changes
Sales forecasting - to determine the expected level of sales given the level of
demand. With respect to other factors like Advertising expenditure, sales
promotion etc.
Segmentation research - to determine the demographic, psychographic, and
behavioural characteristics of potential buyers
Online panel - a group of individual who accepted to respond to marketing
research online
Store audit - to measure the sales of a product or product line at a statistically
selected store sample in order to determine market share, or to determine
whether a retail store provides adequate service
Test marketing - a small-scale product launch used to determine the likely
acceptance of the product when it is introduced into a wider market
Viral Marketing Research - refers to marketing research designed to estimate
the probability that specific communications will be transmitted throughout an
individual's Social Network. Estimates of Social Networking Potential (SNP)
are combined with estimates of selling effectiveness to estimate ROI on specific
combinations of messages and media.
11. Marketing research methods
• Methodologically, marketing research uses the following types of
research designs:
1. Based on questioning
Qualitative marketing research - generally used for exploratory
purposes - small number of respondents - not generalizable to the
whole population - statistical significance and confidence not
calculated - examples include focus groups, in-depth interviews, and
projective techniques
Quantitative marketing research - generally used to draw conclusions
- tests a specific hypothesis - uses random sampling techniques so as to
infer from the sample to the population - involves a large number of
respondents - examples include surveys and questionnaires.
Techniques include choice modelling, maximum difference preference
scaling, and covariance analysis.
12. 2. Based on observations
•Ethnographic studies - by nature qualitative, the researcher observes social
phenomena in their natural setting - observations can occur cross-sectionally
(observations made at one time) or longitudinally (observations occur over
several time-periods) - examples include product-use analysis and computer
cookie traces. See also Ethnography and Observational techniques.
•Experimental techniques - by nature quantitative, the researcher creates a
quasi-artificial environment to try to control spurious factors, then
manipulates at least one of the variables - examples include purchase
laboratories and test markets
13. A Classification of Marketing Research
Problem-Identification Research
• Research undertaken to help identify problems which are
not necessarily apparent on the surface and yet exist or
are likely to arise in the future. Examples: market
potential, market share, image, market characteristics,
sales analysis, forecasting, and trends research.
Problem-Solving Research
• Research undertaken to help solve specific marketing
problems. Examples: segmentation, product, pricing,
promotion, and distribution research.
14. A Classification of Marketing Research
Marketing Research
Problem
Identification Research
Problem-Solving
Research
Market Potential Research
Market Share Research
Market Characteristics
Research
Sales Analysis Research
Forecasting Research
Business Trends Research
Segmentation Research
Product Research
Pricing Research
Promotion Research
Distribution Research
15. Problem-Solving Research
Determine the basis of
segmentation
Establish market potential and
responsiveness for various
segments
Select target markets
Create lifestyle profiles:
demography, media, and
product image characteristics
SEGMENTATION RESEARCH
Test concept
Determine optimal product design
Package tests
Product modification
Brand positioning and repositioning
Test marketing
Control store tests
PRODUCT RESEARCH
16. Problem-Solving Research
PRICING RESEARCH
Pricing policies
Importance of price in brand selection
Product line pricing
Price elasticity of demand
Initiating and responding to price
changes
$ALE
PROMOTIONAL RESEARCH
Optimal promotional budget
Sales promotion relationship
Optimal promotional mix
Copy decisions
Media decisions
Creative advertising testing
Evaluation of advertising effectiveness
0.00% APR
18. Marketing Research Process
Step 1: Defining the Problem
Step 2: Developing an Approach to the Problem
Step 3: Formulating a Research Design
Step 4: Doing Field Work or Collecting Data
Step 5: Preparing and Analyzing Data
Step 6: Preparing and Presenting the Report
19. The Role of Marketing Research
Controllable
Marketing
• Product
• Pricing
• Promotion
• Distribution
Variables
Marketing
Research
Marketing
Decision
Making
Providing
Information
Assessing
Information
Needs
Marketing Managers
• Market Segmentation
• Performance & Control
• Target Market Selection
• Marketing Programs
Uncontrollable
Environmental
Factors
• Economy
• Technology
• Laws &
Regulations
• Social & Cultural
Factors
• Political Factors
• Consumers
• Employees
• Shareholders
• Suppliers
Customer Groups
20. Marketing Research Suppliers & Services
LIMITED SERVICE
Branded
Products
and Services
Data
Analysis
Services
Analytical
Services
Coding and
Data Entry
Services
Field
Services
FULL SERVICE
Syndicate
Services
Standardized
Services
Customiz
ed
Services
Internet
Services
RESEARCH
SUPPLIERS EXTERNALINTERNAL
Fig 1.3
21. Selected Marketing Research
Career Descriptions
Vice-President of Marketing Research: The senior position in
marketing research. The vice president (VP) is responsible for the
entire marketing research operation of the company and serves on
the top management team. This person sets the objectives and
goals of the marketing research department.
Research Director: Also a senior position. The research director has
the general responsibility for the development and execution of all
the marketing research projects.
Assistant Director of Research: Serves as an administrative assistant
to the director and supervises some of the other marketing
research staff members.
(Senior) Project Manager: Has overall responsibility for design,
implementation, and management of research projects.
Statistician/Data Processing Specialist: Serves as an expert on theory
and application of statistical techniques. Responsibilities include
experimental design, data processing, and analysis.
Fig 1.4
22. Selected Marketing Research
Career Descriptions
Vice President of Marketing
Research
• Part of company’s top
management team
• Directs company’s entire market
research operation
• Sets the goals & objectives of the
marketing research department
Research Director
•Also part of senior
management
•Heads the development
and execution of all
research projects
Assistant Director of Research
•Administrative assistant to director
•Supervises research staff members
Senior Project Manager
•Responsible for design, implementation, &
research projects
23. Analyst
• Handles details in execution of
project
• Designs & pretests questionnaires
• Conducts preliminary analysis of
data
Junior Analyst
• Secondary data analysis
• Edits and codes questionnaires
• Conducts preliminary analysis of data
Fieldwork Director
•Handles selection, training,
supervision, and evaluation of
interviewers and field workers
Senior Analyst
• Participates in the development of projects
• Carries out execution of assigned projects
• Coordinates the efforts of analyst, junior analyst, & other personnel in the
development of research design and data collection
• Prepares final report
Statistician/Data Processing
• Serves as expert on theory and
application on statistical techniques
• Oversees experimental design, data
processing, and analysis
Selected Marketing Research Career
Descriptions
24. Criteria for Selecting a Research Supplier
What is the reputation of the supplier?
Do they complete projects on schedule?
Are they known for maintaining ethical standards?
Are they flexible?
Are their research projects of high quality?
What kind and how much experience does the supplier have? Has
the firm had experience with projects similar to this one?
Do the supplier's personnel have both technical and non-technical
expertise?
Can they communicate well with the client?
Competitive bids should be obtained and compared on the basis of
quality as well as price.
25. • Know what you’re talking about
– What’s your product?
– Who are you selling to in existing
markets?
• Look for answers to specific questions
– But don’t always expect specific answers
• Not everything can be found on the
Internet
Keys to Successful Marketing
Research