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MARKETING RESEARCH TYPES, TRENDS AND LIMITATIONS Chapter 28.2

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By the end of class, students will be able to:

•Identify the two main types of marketing research.

•Differentiate between the four methods of conducting

marketing research.

•Discuss trends and limitations in

marketing research.

Issues in Marketing Research

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PREDICT What would happen if marketing research was not used in product development?

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• quantitative research

• qualitative research

• attitude research

• market intelligence

• media research

• product research

Marketing Research Terminology

+Two Types of Marketing Research

Two Broad Types of Research

QUANTITATIVEResearch

QUALITATIVE Research

Quantitative ResearchMarketing research that answers questions that begin with “how many” or “how much.” It often gathers information from large random samples.

Qualitative ResearchMarketing research that focuses on smaller numbers of people and tries to answer questions that begin with “why” or “how.”

+How might a company use Marketing Research?

TACO BELL used new product development research to

uncover the potential sales and market for a new version of

the taco. Doritos Locos Tacos was the MOST successful

product in 2012 with over 370 million sold. That’s over 1

Million Tacos daily! Doritos Locos Tacos Commercial

VW performed customer satisfaction research on its

Volkswagon Beetle convertibles which sparked the idea for

the following commercial:

VW Convertible Commercial

+Types of Marketing Research

Attitude Research

Attitude ResearchAlso known as opinion research; designed to obtain information on how people feel about certain products, services, companies, or ideas.

AttitudeResearch

Mail surveys

Telephone interviews

Opinion polls

**The Gallup Poll has measured and tracked the public’s attitudes concerning virtually every political, social and economic issue of the day in more than 140 countries.

+Types of Marketing Research

Market Intelligence

Market IntelligenceAlso known as market research; concerned with the size and location of a market, the competition, and segmentation within the market for a particular product.

MarketIntelligence

Sales forecasting

Economic forecasting

Competitive products

**Learning about competitor’s products is a key component of marketing intelligence.

+Types of Marketing Research

Media Research

Media ResearchAlso known as advertising research; focuses on issues of media effectiveness, selection, frequency, and ratings.

MediaResearch

Brand awareness

Advertisement recall

Brand image

Effectiveness of advertising copy

Audience size

+Types of Marketing Research

Product Research

Product ResearchResearch that centers on evaluating product design, package design, product usage, and consumer acceptance of new and existing products.

ProductResearch

New product research includes concept testing

Existing product research includes questionnaires and interviews

**Research shows that about half of new products introduced into the marketplace fail within the first two years of their product launch.

+Types of Marketing Research

Product Research ContinuedProduct

Research

New product research includes concept testing

Existing product research includes questionnaires and interviews

**Research shows that about half of new products introduced into the marketplace fail within the first two years of their product launch.

Stouffers performed research for 13 years before launching Lean Cuisine. They were so

successful that they had $125 million in sales their first year!

Some companies are so quick to “get in the game” that they may not do their research. For

example……

+Types of Marketing Research

Qualitative & Quantitative Research

AttitudeResearch

MarketIntelligence

MediaResearch

ProductResearch

Mail surveys

Telephone interviews

Opinion polls

Sales forecasting

Economic forecasting

Competitive products

Brand awareness

Advertisement recall

Brand image

Effectiveness of advertising copy

Audience size

New product research includes concept testing

Existing product research includes questionnaires and interviews

+Issues in Marketing Research

Trends in Marketing Research

Global Trends in Marketing Research

Globalization of the marketplace means increased competition.

Product quality and customer satisfaction are more important than ever.

Use of internal and external information for managing a business is mandatory.

Research of other cultures is important to a product’s success in a foreign market.

MCDONALD'S EGYPT COMMERCIAL

MCDONALD'S JAPAN COMMERCIAL

MCDONALD'S INDIA COMMERCIAL

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Global Corporations like McDonald’s perform intensive new product development research before launching new menu items in the marketplace.

International Marketing Research

McDonald's Menu Items From Around the World

+Issues in Marketing Research

Limitations of Marketing Research

The amount of information that can be gathered is limited by money and time.

Favorable customer reviews do not guarantee a product’s success.

Fast-changing markets may not allow time for research.

+Chapter 28 - Marketing Research Review

MARKETING RESEARCH QUIZDirections

Read the statements about marketing research and determine whether each is true or false. Write TRUE or FALSE in the space before each statement.

IF an answer is FALSE, please re-write the false statement to make it true.