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To understand Marketing Research,

we must answer these questions:• What is marketing?• What is the marketing concept?• What is marketing strategy?

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What is Marketing?

Marketing has been defined by the AMA as an organizational function and a set of processes for creating, communicating and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders.

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What is the Marketing Concept?

The Marketing Concept is a business philosophy that holds that the key to achieving organizational goals consists of the company’s being more effective than competitors in creating, delivering, and communicating customer value to its chosen markets.

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What is Marketing Strategy?

A Marketing Strategy consists of selecting a segment of the market as the company’s target market and designing the proper “mix” of the product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market.

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To Practice Marketing, Implement the Marketing Concept, or Develop

the “Right” Strategy:• Managers must make

decisions.• To make the “right” decisions,

the following kind of information is needed:– objective– accurate– timely

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What is Marketing Research?(Burns/Bush Definition)

Marketing research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.

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What is Marketing Research?(AMA Definition)

Marketing research: the function that links the consumer, customer, and public to the marketer through information – information used to identify and define marketing opportunities and problems; (continued)…

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What is Marketing Research?(AMA Definition)

generate, refine, and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process.

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Marketing Research vs. Market Research

Market research: the “systematic gathering, recording, and analyzing of data with respect to a particular market, where ‘market’ refers to a specific group in a specific geographic area.”

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What is the purpose of Marketing Research?

To link the consumer to the marketer by providing information that can be used in making marketing decisions

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Marketing Research is not infallible

• Marketing research stated these “successes” would be “failures:”– Stella Artois– Seinfeld

• Marketing research stated these “failures would be “successes:” – Soft Batch®

– Sainsbury’s

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What are the uses of Marketing Research?

• Identify marketing opportunities and problems

• Generate, refine, and evaluate potential marketing actions

• Monitor marketing performance• Improve marketing as a process

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Classifying Marketing Research Studies

Studies that identify marketing opportunities and problems:

• Market-demand determination• Market segments identification• Marketing audits - SWOT analysis

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Classifying Marketing Research Studies

Studies that generate, refine, and evaluate potential marketing actions:

• Proposed marketing-mix evaluation testing

• New-product prototype testing• Advertising pretesting

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Classifying Marketing Research Studies

Studies that monitor marketing performance:

• Image analysis• Tracking studies• Customer satisfaction studies

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Classifying Marketing Research Studies

• Improving marketing as a process– The purpose of these studies is to

expand knowledge (basic research) of marketing as a process rather than to solve a specific problem facing a company

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The Marketing Information System

An MIS is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

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Components of an MIS

• Internal Reports System• Marketing Intelligence System• Marketing Decision Support

System (DSS)• Marketing Research System

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The Marketing Research System has a role in MIS because…

• It gathers information not gathered by the other MIS component subsystems.

• Marketing research studies are conducted for a specific situation facing the company.

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The Marketing Research System has a role in MIS because…

Marketing research projects unlike other MIS components are not continuous – they have a beginning and an end.

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Copyright © 2010 Pearson Education, Inc. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice HallPublishing as Prentice Hall

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