Marketing Information and Research<br />Chapter 5<br />
WHAT IS MARKET RESEARCH?<br />
WHY IS MARKET RESEARCHIMPORTANT?<br />
TERMS TO KNOW:<br />Analysis<br />Experiments<br />Focus Group<br />Input<br />Output<br />Marketing Research<br />Observa...
Consumer Differences<br />Page 122<br />All consumers have different needs and wants. How can business best meet the uniqu...
Expanding Choices<br />Page 122-123<br />Consumers have many more choices of products and services, and much more informat...
Competition<br />Page 123<br />More and more intense. Gather info about competitors products/services to determine strengt...
Approaches to Planning<br />Page 124-125<br />Read – Approaches to Planning<br /><ul><li>How will each of the companies de...
Which of the companies do you believe will make decision that are most likely to be successful?
What is the biggest difference in the way the companies make decisions?</li></li></ul><li>Categories of Information<br />P...
1. See problem<br />Page 136-138<br />TERM - Marketing Research<br />Define the problem.<br />Analyze the situation.<br />...
Secondary Data</li></li></ul><li>2. Gather Information<br />Page 138-140<br />Select the participants.<br /><ul><li>Sample
Random Sampling</li></ul>Collect the data.<br />Analyze the data.<br />Prepare the results.<br />
3. Propose a Solution<br />Page 140-142<br />Research Reports<br />Presenting Research Results<br />When to use Marketing ...
Collecting Primary Data<br />Page 144-149<br />Conducting Surveys<br /><ul><li>Survey
Focus group</li></ul>Making Observations<br /><ul><li>Observation</li></ul>Performing Experiments<br /><ul><li>Experiments...
True of False<br />TRUE<br />
True of False<br />Marketing research helps businesses that are involved in international competition.<br />
True of False<br />TRUE<br />
True of False<br />Surveys should only ask questions that are needed to accomplish the objectives of the research.<br />
True of False<br />TRUE<br />
True of False<br />Whether or not to use marketing research depends solely on its cost.<br />
True of False<br />FALSE<br />
True of False<br />The most precise and objective information about a potential market segment is obtained through focus g...
True of False<br />FALSE<br />
True of False<br />A great deal can be learned about purchase behavior by observing consumers.<br />
True of False<br />TRUE<br />
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Marketing information and research

  1. 1. Marketing Information and Research<br />Chapter 5<br />
  2. 2. WHAT IS MARKET RESEARCH?<br />
  3. 3. WHY IS MARKET RESEARCHIMPORTANT?<br />
  4. 4.
  5. 5. TERMS TO KNOW:<br />Analysis<br />Experiments<br />Focus Group<br />Input<br />Output<br />Marketing Research<br />Observation<br />Survey<br />Test Market<br />Random Sampling<br />Sample<br />Simulations<br />Storage<br />Primary Data<br />Secondary Data<br />
  6. 6. Consumer Differences<br />Page 122<br />All consumers have different needs and wants. How can business best meet the unique needs and wants of different market segments?<br />How do fast food restaurants meets unique needs/wants of customers?<br />
  7. 7. Expanding Choices<br />Page 122-123<br />Consumers have many more choices of products and services, and much more information about those choices, so their decisions are more informed.<br />When was a time that you were overwhelmed with too many choices?<br />Or not enough choices?<br />
  8. 8. Competition<br />Page 123<br />More and more intense. Gather info about competitors products/services to determine strengths and weaknesses. <br />How are you going to make sure your products stands out among competition?<br />
  9. 9. Approaches to Planning<br />Page 124-125<br />Read – Approaches to Planning<br /><ul><li>How will each of the companies decide whether to make designs to use for the next year?
  10. 10. Which of the companies do you believe will make decision that are most likely to be successful?
  11. 11. What is the biggest difference in the way the companies make decisions?</li></li></ul><li>Categories of Information<br />Page 125<br />Consumers<br />Marketing Mix<br />Business Environment<br />
  12. 12. 1. See problem<br />Page 136-138<br />TERM - Marketing Research<br />Define the problem.<br />Analyze the situation.<br />Develop a Data-Collection Procedure.<br /><ul><li>Primary Data
  13. 13. Secondary Data</li></li></ul><li>2. Gather Information<br />Page 138-140<br />Select the participants.<br /><ul><li>Sample
  14. 14. Random Sampling</li></ul>Collect the data.<br />Analyze the data.<br />Prepare the results.<br />
  15. 15. 3. Propose a Solution<br />Page 140-142<br />Research Reports<br />Presenting Research Results<br />When to use Marketing Research<br />
  16. 16. Collecting Primary Data<br />Page 144-149<br />Conducting Surveys<br /><ul><li>Survey
  17. 17. Focus group</li></ul>Making Observations<br /><ul><li>Observation</li></ul>Performing Experiments<br /><ul><li>Experiments</li></li></ul><li>True of False<br />Focus groups can be composed of participants who are experts on the topic rather than a random sample of the population.<br />
  18. 18. True of False<br />TRUE<br />
  19. 19. True of False<br />Marketing research helps businesses that are involved in international competition.<br />
  20. 20. True of False<br />TRUE<br />
  21. 21. True of False<br />Surveys should only ask questions that are needed to accomplish the objectives of the research.<br />
  22. 22. True of False<br />TRUE<br />
  23. 23. True of False<br />Whether or not to use marketing research depends solely on its cost.<br />
  24. 24. True of False<br />FALSE<br />
  25. 25. True of False<br />The most precise and objective information about a potential market segment is obtained through focus groups.<br />
  26. 26. True of False<br />FALSE<br />
  27. 27. True of False<br />A great deal can be learned about purchase behavior by observing consumers.<br />
  28. 28. True of False<br />TRUE<br />
  29. 29. True of False<br />Secondary data is usually less expensive to obtain than primary data.<br />
  30. 30. True of False<br />TRUE<br />

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