1 Introduction to Market Research

7/27/2019 1 Introduction to Market Research

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Introduction tomarket research

Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system

Supporting the marketing

decision-maker

ESOMAR definition of MR

Classification of market

research

Stages of market research

Misconceptions

The business of market

research

Market research

associations

Whats it all about?

Market researchers support decision-makers by

collecting, analysing and interpreting information

needed to identify and solve marketing problems

To understand market research, we must answer

these questions:

What is marketing?

What is the marketing concept? What is a marketing strategy?
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Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

What is marketing?

Marketing has been defined as an organisational

function and a set of processes for creating,

communicating and delivering value tocustomers, and for managing customer

relationships in ways that benefit the organisation

and its stakeholders
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Dr James Abdey

Whats it all about?

What is...?Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

What is the marketing concept?

The marketing concept is a business philosophy

that holds that the key to achieving organisational

goals consists of the company being more effectivethan competitors in creating, delivering, and

communicating customer value to its chosen

markets
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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

What is a marketing strategy?

A marketing strategy consists of selecting a

segment of the market as the companys target

market and designing the proper mix of theproduct/service, price, promotion, and

distribution system to meet the wants and needs of

the consumers within the target market
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6/22


Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

Market research

Market research is about collecting information

The essence of marketing is that a firm will makewhat it can sell, rather than sell what it can make

Marketing therefore requires an assessment of

consumer needs through market research and the

orientation of all firms activities towards the

satisfaction of those needs

The key technique of marketing is that of market

research

Information about a firms market and its customers

is collected and analysed in order to determine whobuys the firms products, why and when, and

under what circumstances

On the basis of this analysis a marketing policy

evolves
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7/22


Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

Definitions

Marketing a specialised function of management

including all those activities concerned with thedevelopment, production and distribution of products

to identifiable markets, where they will provide

satisfaction to those who buy them

Market research The systematic gathering,

recording, and analysing of data about problemsrelating to the marketing of goods and services(American Marketing Association)

Product development Identifying the market

Methods of selling Distribution Promotion Sales/Services Applications: enterprises, public sector, charities, etc.
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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

Definitions

Market research is the means used by those who

provide goods and services to keep themselves intouch with the needs and wants of those who buy

and use those goods and services (Market

Research Society)

Market research: The systematic objective, and

exhaustive search for, and study of, facts relevant to

any problem in the field of industrial marketing

(Industrial Marketing Research Association)

Market research should result in detailed knowledge

about all factors likely to influence demand for

specific products/services
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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

What are the disciplines needed in

market research?

Psychology Perception and learning theories, group influences

Sociology Social class, social mobility, diffusion of innovations,

household behaviour, life-style

Economics Trends, utility

Social anthropology Environmental influences, cultural norms and values

Demography Socio-economic characteristics

Statistics Sampling, multivariate analysis, modelling
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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



researchStages of market research

Misconceptions


research

Market research

associations

Marketing decisions

Strategic market positioning Customer targeting (overseas markets, new markets) Competitors activities Company Customer research (factors affecting buying

behaviour, attitudes etc.)

Positioning reflected in the right marketing mix Product (design, development, testing a new product,

improvement of existing ones, packaging) Price (indicator of quality and economy, price

sensitivity, price competition) Place Promotions
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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

Model of the marketing system
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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

Supporting decision-makers

Describe the nature and scope of customer groups

Understand shaping forces

Test marketing variables

Monitor and reflect how marketing activities have

performed


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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

ESOMAR definition of market

research

Marketing research is a key element within the total

field of marketing information. It links the consumer,

customer and public to the marketer through

information, which is used to identify and definemarketing opportunities and problems; generate,

refine and evaluate marketing actions; and improve

understanding of marketing as a process and of the

ways in which specific marketing activities can bemade more effective
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Dr James Abdey

Whats it all about?


Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

ESOMAR further qualifications

Marketing research specifies the information

required to address these issues [of linking the

consumer, customer and public to the marketer];

designs the method for collecting information;manages and implements the data collection

process; analyses the results; and communicates

the findings and their implications

I d i


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Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

Classification of market research

Problem identification

Research commissioned to help identify problemsthat are not necessarily apparent today, but exist orare likely to arise in the future

Examples: market potential, market share, image,

market characteristics, sales analysis, forecastingand trends research

Problem-solving

Research commissioned to solve specific marketingproblems

Examples: segmentation, product, pricing, promotion

and distribution research

I t d ti tLi d i i f h k
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Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

Linear description of the market

research process
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Introduction toMi ti f k t h


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Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

Misconceptions of market research

Market research does not make decisions

Market research does not guarantee success

Market researchers are being expected to:

Think conceptually Communicate in the way that those who

commission research think

Interpret findings in a holistic manner Integrate findings with others that support marketing

decision-makers

Introduction toTh b i f k t h
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19/22


Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker




Misconceptions


research

Market research

associations

The business of market research

Market research should result in detailed knowledgeabout all factors likely to influence demand for

specific products/services

$9.99
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Introduction toThe business of market research


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Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

The business of market research

Dont believe what consumers say analyse all the

factors!

Introduction toMarket research associations
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market research

Dr James Abdey

Whats it all about?

What is...?

Market research

Definitions

Interdisciplinary

Marketing decisions

Marketing system


decision-maker



research


Misconceptions


research

Market research

associations

Market research associations

ESOMAR: European Society for Opinion and

Marketing Research

MRS: The Market Research Society (UK)

CASRO: The Council of American Survey ResearchOrganizations

MRSA: The Market Research Society of Australia

PMRS: The Professional Marketing Research

Society (Canada)
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1 Introduction to Market Research

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Transcript of 1 Introduction to Market Research