Please enable JavaScript.
Coggle requires JavaScript to display documents.
Marketing Research, refers to, determines, draws, solves, to maintain, to…
Marketing Research
Systematic collection, analysis and interpretation of data
Viability of a new service or product
Customer insights -- find out their needs and wants
Develop products that consumers will use
Competitive advantage against other companies
Relevant data
Marketing challenges
Marketing and advertising strategies best suited for consumers
Marketing Research Process
Four-step process
Defining the problem
Problem that requires a solution by the management to make decisions
Discussion of issues
Organise what information is needed
Collecting and analysing information
Extensive findings of data
Organising such that analysis can be obtained
An expensive method of marketing research
Interpreting and presenting findings
Detailed document to present research findings
Solutions and suggestions to tackle the problem
Designing of marketing strategies
Developing the research plan
Gathering information relevant to research objective
Gathering data for research
Secondary research and data
Facts and figures that has already been consolidated beforehand
External
Census reports, Trade associations, Organisational records
Internal
Inputs (Budgets / Expenses, sales call reports)
Outcomes (Actual sales, orders)
Primary research and data
Newly collected data that is compiled by someone the company hires
Types of survey research
Descriptive
Market potential, demographics, consumer's attitudes, surrounding environment
Exploratory
Gaining insights
Company issues, areas for potential growth, courses of actions
Discovery of ideas
Casual
Cause and effect relationship
All variables
Data collection methods
Mail / telephone
Interviews
Face-to-face
Online
Mechanical instruments
Questionnaires / Surveys
Gathering relevant information that the organisation requires
Types of questionnaires
Open-ended
Multiple choice
Dichotomous
Scaled
Rating Scale
Likert scale
Semantic differential scale
Pictorial
refers to
determines
draws
solves
to maintain
to tailor
conducted based on
determining
involves
involves
requires
to allow
provide
generates
decision-making
includes
are
such as
Discovery of ideas
focuses on
further defines
understanding of
explains
between
flexible in