Download Marketing Research

Marketing Research
Monday, February 23
Give a couple examples of Marketing
Research.
 Why do you think Marketing Research is
important?

What is Marketing Research?
Gathering, recording, and analyzing
information about problems related to
marketing goods and services.
 Can apply to any area of marketing

– Creation of a new product
– Effectiveness of an advertising campaign

Primary emphasis is to obtain information
about the preferences, opinions, habits,
trends, and plans of potential customers.
– Determine what customers want and need
Why is Marketing Research
Important?
There is a huge failure rate of new products
– Marketing research can make or break a
business
 Helps businesses plan their future operations to
try to increase sales and profits.
 Helps solve marketing problems or anticipate
future marketing problems
 Helps keep track of what is going on in the market
– Determines major competitors, what
competitors are offering, & what products
consumers prefer.

Who Uses Marketing Research?

Valuable for organizations of any size
– Size of the business may affect how it
conducts the business
State & Federal Government Agencies
 Trade Associations

– Manufacturers, wholesalers, and retailers
– Collect industry data to help their members
understand the markets for their products.
Du Pont, the chemical company, regularly
uses marketing research to find out what
customers think of its products. On one
survey a researcher thought to ask, “Why
did you choose our product over the
competition’s?” From the answers
received, the company discovered that its
products to be in some way better or purer
than those of the competition.
Du Pont decided to use this information to
create a new advertising campaign. The
advertising message was that Du Pont
took special care to assure purity in the
manufacturer of its products. Print
advertisements featured photos of whitecoated scientist performing quality
assurance checks in sparking clean
laboratories.
In the aftermath of the campaign, Du
Pont’s market share rose to a new high.
The company had learned the pleasant
way that if you ask why, you can be
surprised by the answer. And if you’re in
a business that takes its marketing
research seriously, you can turn what you
learn into higher profits.
Creativity Challenge: Break into teams of 3
people, and speculate about the kinds of
distinctions consumers routinely make among
similar products. Why do they choose a
particular brand of batteries or canned
vegetables or athletic shoes? Using one of these
items or a product of your own choice, develop
a list of reasons for a particular preference.
Then, test that list. Devise a simple survey
(written or oral) to find out what consumers
really think. Use your classmates as a test
group. Any surprise? Any ideas for capitalizing
on them?
Types of Marketing Research
Advertising Research
 Product Research
 Market Research
 Sales Research

Advertising Research
Focuses on the advertising message and
media.
 It measures two things:

– The effectiveness of the advertising message
– The effectiveness of media placement

Testing the advertising Message
– Focus Groups or Consumer Panel
 A common technique to study how effectively a
message has been delivered
Product Research

Product Research
– Centers on evaluating products design and
acceptance, competitive products, packaging design
and product usage.

Test Marketing
– A method of collecting data on products
– Occurs when a new product is placed in one or more
selected geographic areas.
– Allows marketers to test customer response to a
product and to observe a product’s sale performance.
– The results help the product manufacturer determine
whether the product needs change before being
introduced to the market.
Market Research

Focuses on the customer and the market.
– Customer analysis
 The study of customer behavior through
questionnaires and interviews
– Market analysis
 The study of the behavior of a consumer market to
investigate the potential markets for a product and
to define characteristics of the target market.
Sales Research

The study of sales data to determine the
potential sales for a product and to solve
problems related to future sales.
– Sales Forecasting
 An effort to estimate the future sales of a product

Economic Forecasting
 An attempt to predict the future general economic
conditions of a city, a region, the country, or
another part of the world.
Methods of Research

Experimental Method
– Sample
Observational Method
 Survey Method

Constructing the Questionnaire

Questionnaires should provide data that
have validity
– data should measure what it is intended to
measure.

They should also have reliability
– the questions should ask the same type of
information from all of the respondents.
– They should be clear and easy to understand
so everyone interprets the questions in the
same way.
Constructing the Questionnaire

Writing Questions
– Open-ended or forced choice questions

Please answer Yes or No to the following
questions:
– Did your server make you welcome?
– Were the daily specials suggested?
– Was the service prompt?
Forced Choice Questions

Please choose which of the following is most
important to you when choosing a restaurant:
–
–
–
–

Price
Quality of Food
Location
Variety of Food
Please rate the following
–
–
–
–
Cleanliness
Attitude
Quality
Value
Excellent
Excellent
Excellent
Excellent
Good
Good
Good
Good
Fair
Fair
Fair
Fair
Poor
Poor
Poor
Poor
Constructing the Questionnaire

Formatting
– The questionnaire should have different types of
questions.
– Directions for completing the questionnaire must be
clear for each section or group of questions.
– Questionnaires must have excellent visual appearance
and design.
– Numbers should be placed on all sections and on all
questions (respondents are more likely to respond to
all questions if they are numbered
– May want to guide participants to the next page if
there is more than one page of the survey.
Distributing the Questionnaire
Mail
 Email
 In person
