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Marketing research and information (Marketing research process…
Marketing research and information
Research designed to identify problems
Market characteristics
Forecasting or trends
Market potential/ market share
Research designed to solve problems
Segmentation
4P
Marketing research process
Formulating a research design
Qualitative: focus group, depth interviews
Quantitative: survey, experiment
Doing field work or collecting data (personal, telephone, mail, etc)
Developing an approach to a problem
Secondary data: used existing information
Internal
External
Primary data: go and collect information
Preparing and analysis data
Verifying for accuracy
Statistical Analysis
Defining the problem
Preparing and presenting the report (document in a written report)
Is marketing research always necessary?
Competitive intelligence
: collect + analyze available information about competitors and developments in marketing environment
Environmental Scanning
Scanning enables a company to
act
rather than
react
to opportunities/ threats
Early warning system for the environmental forces which may impact a company's products and markets in the future
Internal records: information gathered from sources within a company
Marketing information system
(MUST SEE THE PPT FOR MORE DETAILS)
Market intelligence
Market research
Internal data
Marketing information: issues
Social Media's role
Ethics in marketing research: it benefits both company and customers
International Marketing Research