Marketing Research
MARKETING RESEARCH & INFORMATION
Description also available in video format (attached
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Introduction
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Market Research is the
systematic
o
Gathering
o
Recording
o
& Analyzing of data about the problems
relating to the marketing of goods & services
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It gives you the data you need to select,
identify & reach your target market at a price that is affordable by
customers
Need
& Purpose of Marketing Research
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Need
o
To undertake marketing effectively
o
Technology changes
o
Changes in customer taste
o
Market demand
o
Varieties of products of competitors
o
Economic conditions change
o
Distribution channels
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Purpose
o
To gain a more understanding of consumers
need
o
To reduce the risk of product failure
o
To forecast the future trends
o
To achieve commercial success
o
To anticipate future customer needs
Marketing
Research Types & Methods
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Types
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Ad Tracking
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Advertising Research
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Brand equity
o
Brand name testing
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Commercial eye tracking
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Concept testing
o
Cool-hunting
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Buyer decision making process
o
Customer satisfaction research
o
Marketing effectiveness
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Positioning research
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Price elasticity testing
·
Methods
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Questionnaire based
o
Observation based
Classification,
Process & Role of Marketing Research
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Classification
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Problem Identification Research
§ Market Potential Research
§ Market Share Research
§ Market Characteristics
§ Sales Analysis Research
§ Forecasting Research
§ Business Trends Research
o
Problem Solving Research
§ Segmentation Research
§ Product Research
§ Pricing Research
§ Promotion Research
§ Distribution Research
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Process
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Define the problem
o
Develop an approach
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Formulating a research design
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Collect data
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Prepare, filter & analyze the data
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Present the report
·
Role
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Video
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