1. Market Research Definition Attributes
(PS… Marketing Research???)
I am going to attempt to synthesise your definitions and the attributes thereof and
some of my own thoughts on this matter as discussed in class.
Let’s pool your attributes...
WHAT
Info
Customers’ behaviour
Market / key segments
Competitors
Analysis
Analysis of existing and potential mkt: change!)
System
Concrete measures to meet goals
Existing and potential
WHY
Improvement of co behaviour
Work out the core info to support decisions
Establish needs of target groups
Improve customer relationship
Increase revenue
Define trends and forecasts
Competitive advantage
WHO
Every employee
Mainly Mkt Dept
HOW
Research: primary and secondary
Interpretation
Transformation into decision process
Collecting
Providing
Sharing
Strategy
WHEN
Ongoing
Pre/post strategic decisions
Dynamic / daily
WHERE

2. Last Year’s Class’ Results:-
WHAT
• An analysis of information
• awarenesses based on past stats
• research and implementation
• embedded into controlling processes
• defines markets
• getting to know current customers / reasons for non-customers
• analysis of competitor strategies
WHY
• control development of market
• to recognise trends
• to determine response to changes
• to underpin successful marketing
• to establish consumer needs and wants
• to define 4Ps
• to determine products new… or optimise old
• guidance
• gap closure : strategy / reality
• business environment STEEP(L)
WHEN
• frequently
• regularly
• first thing (prior to prod / serv development.)
• before market entry
WHERE
• in relevant markets
•
WHO
• everyone
• internal
• external … professional market research establishments
HOW
• primary
• secondary

3. And here’s one I prepared earlier based upon last year’s students’ views.....
Market Research is…
…the ongoing, largely outward-looking process (part ‘science’ /
part ‘art’) by which an organisation seeks systematically to
acquire (through primary and/or secondary research) relevant,
valid and reliable data concerning its existing and potential
customers and competitors (and any present or forecast
influences acting upon them which may present threats to or
opportunities for the organisation and its future aspirations)
with a view to transforming such data into knowledge (by means
of its organisation, presentation, analysis, evaluation, synthesis)
and its timely communication and sharing, in order to underpin
strategic and tactical decision-making, such that the
organisation is continually engaged in learning and thus always
able to maintain the best fit, dynamic equilibrium between its
internal production & service capabilities and external
opportunities/market demand. The Market Research process is
such that, although it may be nominally the responsibility of one
function/division/department, it will involve most, if not all,
business functions and staff in gathering data, transforming it,
sharing it, learning from it and responding thereto...
WHAT / WHY / HOW / WHO / WHERE WHEN
How well did I do? Any changes: amendments/additions?