Download Market Research

Market Research
What Is Market Research?

Involves the process and
methods used to gather
information, analyze it, and
report findings related to
marketing goods and services
How is it used?




Determine consumers’ attitudes and
preferences
Test product features
Determine market size and growth
potential
Understand how the company is
perceived by the public
Why is it important?

To help…
Identify marketing opportunities
 Solve marketing problems
 Implement marketing plans
 Monitor marketing performance

Who uses market research?

Small businesses



Typically done informally by owners,
managers and employees
May hire an outside service provider
Large companies

Typically have in-house research
departments
What is Database Marketing

A process of designing, creating and
managing customer lists

Collected from…




Face-to-face sales
Direct mailing responses
Telephone or email contact
Website visits

Marketing lists can be
purchased from third-party
companies that specialize in
selling consumer databases!
How has your data been
collected?




Bonus/Customer cards
Checkout questionnaire
Cold calling
Mailing surveys
Types of Market Research




Attitude and Opinion
Market Intelligence
Media Research
Product Research
The Market Research Process
1.
2.
3.
4.
5.
Define the problem
Obtain data
Analyze data
Recommend solutions
Apply the results