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1: Marketing Research for Decision Making
ESSENTIALSESSENTIALS OF MARKETING RESEARCHOF MARKETING RESEARCHHair/Wolfinbarger/Ortinau/BushHair/Wolfinbarger/Ortinau/Bush
1-2Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Marketing
Marketing is the process of planning and executing the pricing,promotion, distribution of products,
services, and ideas in order to create exchanges that satisfyboth the firm and its customers
1-3Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Marketing Research
Marketing research is the function that links an organization to its
market through the gathering of information
1-4Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Tasks in the Process
Designing methods for collecting dataManaging the information collection
processAnalyzing and interpreting resultsCommunicating findings to decision
makers
1-5Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Research Benefits Marketing Decisions
Situation analysisStrategy designProgram development
1-6Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Marketing Situation Analysis
Monitors the appropriateness of a firm’s marketing strategy and determines whether changes are necessary
Market analysisMarket segmentationCompetition analysis
1-7Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Opportunity assessment
Collecting market information to forecast changes using
Content analysisIn-depth interviewsFormal rating procedures
1-8Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Market Segmentation
Examine similarities and differences in consumer’s needs using
Benefit and lifestyle studies
1-9Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Competition Analysis
Evaluates competitor’s strengths, weaknesses, and future plans using
Importance-performance analysis
1-10Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Marketing Strategy Design
Information collected can be used to design marketing strategy
Target market analysisPositioningNew product planning
1-11Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
New Product Planning
Provides information for improving products and planning new products
Concept and product testingTest marketing
1-12Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Marketing Program Development
Gathers information for total marketing mixProduct portfolio analysisDistribution decisionsPricing decisionsIntegrated marketing communications
1-13Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Desired Skills (Specific)
Ability to understand and interpret secondary data
Presentation skillsForeign-language competencyNegotiation skillsComputer proficiency
1-14Copyright © 2008 by the McGraw-Hill Companies, Inc. All rights reserved.Hair/Wolfinbarger/Ortinau/Bush, Essentials of Marketing Research 1e © McGraw-Hill/Irwin2008
Emerging Trends
Secondary dataTechnology-based data managementDigital information acquisition and
retrievalA broader International client baseFrom data analysis to Information
management