•Developing Information

• Marketing Research

• Information Analysis

• Distributing Information

Marketing Research

"the systematic gathering, recording,and analyzing of data about problems relating to the marketing of goods and services"

5 steps of Marketing Research Process

• Definition of the Problem

• Situation Analysis

• Obtaining problem specific data

• Interpretation of data

• Problem solution

Definition of the Problem

What is Problem?

• Johnston & Frampton

"an identifiable situation which is perceived by the decision-maker as a potential source of dissatisfaction, and for which preferable alternative exist"

Example:

1. A company may be seeking to improve an existing product.

2. Are customers satisfied with the products they use?

3. What is the product potential in the area?

Situational Analysis

• an informal investigation of available information which may further define the problem and indicate what additional information is required.

• Secondary data - is data collected by someone other than the user.

The possible sources of secondary data are the following:

• the company's own computer system, files, and reports

• libraries

• Government agencies

• Private Research organization

• Trade associations

Obtaining Primary Data

• Primary Data - is a data observed or collected directly

from first-hand experience.

Three methods:1.Observational method2.Survey Method3.Experimental method

Interpretation of Data

• means bringing out the meaning of the data collected

Data analyisis is made using:

1. tests of significance

2.explaining observed differences with the use of cross-tabulation, correlation, or regression analysis.

Problem Solution

• is done by presenting various alternatives solutions where a choice can be made

• the advantages and disadvantages is indicated.

Information Analysis -are informations which are obtained from internal records and the marketing intelligence system should be subjected to analysis using the methods applied in marketing research.

Distributing Information----this is designed to provide the managers a better view in making marketing decisions.