Post on 17-Dec-2015
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Marketing Research
D A T A
Objectives
Describe the need for marketing information
Explain the nature of marketing research in a marketing information function
Explain the nature and scope of the marketing-information function
Describe sources of secondary data
Use data for information analysis
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Marketing researchers use a process similar to the scientific method.
Start with a question
Review background information
Develop a hypotheses to test
Collect data to test the hypotheses
Analyze the data
Draw conclusions based on the research
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Marketers need all the information they can get to make informed decisions about their:
Products Prices Promotions
Competitors Target market(s)
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All effective marketing-research projects have certain specific characteristics.
Systematic
Accurate
Objective
Thorough
Timely
Reliable
Valid
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Why learn about marketing-research
problems?
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Discussion #1
Have you ever encountered difficulty with a situation because
you didn’t have a clear understanding of the problem?
How could a better understanding of the problem have helped you?
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Why learn about marketing-information management?
Marketers are required to make many different types of decisions.
Choosing the best target markets for new productsSelecting advertising media for existing productsSpecifying products to be discontinued
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Discussion #2
Can you think of some common problems or
opportunities businesses might face that might
require marketing research?
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Most businesses today wouldn’t survive without marketing information.
Businesses need marketing
information to:
• Make educated decisions• Solve problems efficiently• Plan for the future
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Steps to finding and using data
Identify needed data
Create a plan for collecting, storing, and analyzing data
Compile a list of secondary sources providing needed data
Retrieve needed data
Analyze and use dataD A T A
What is the difference between data and information?
Data are facts and figures
•Numbers•Dates•Names
Information is facts and data presented in
a useful form
•Knowledge derived from study•Experience•Communication of intelligence
For data to become information, they
must be
•Processed•Organized•Presented in an understandable, meaningful manner
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Data and information are related to each other, but they are not the same.
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• Marketing information is – marketing data– available from inside and outside a
business– has been processed and organized in a
useful way
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• Marketing data is – good to have– does not become valuable until turned
into marketing information
Marketing data can be used to generate helpful marketing information, including details about:
Products Vendors and Suppliers Pricing
Promotional effectiveness Customers Competitors
Economic trends and conditions
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Discussion #3
What are examples of marketing information
and how might this information be used by
marketers?
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There are two different categories of marketing information and information sources.
Primary
Secondary
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Primary Information
Developed from data that are collected in a systematic manner for use in one particular situation.
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Why primary data are gathered
To solve a problem
To explore an opportunity
For any other specific purpose useful to a business
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Some ways in which primary data are gathered in the virtual and physical worlds
Questionnaires
Focus groups
Personal interviews
Test markets
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Discussion #4
Identify and explain an example of
primary data and information.
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Secondary Information
Comes from data that have already been collected for other purposes.
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Secondary Information is popular because
obtained quickly and less expensively than primary data
gives a better understanding of a problem
helps to pinpoint issues that customers are experiencing and ways to resolve these issues
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Places you can look for secondary data
Sales invoices
Customer records
Sales reports
Expense reports
Call reports
Warranty cards
Competitor data
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Discussion #5
Identify and explain an example of
secondary information.
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Marketing information may be developed from either quantitative or qualitative data.
Quantitative data are numerical.
Qualitative data focus on opinions and personal interpretations.
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