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Marketing research - Coggle Diagram
Marketing research
process of making market research
research planning - objectives key questions / hypothesis - brief proposal - initial design of sampling method and analysis.
exploratory research - secondary research, piloting of primary research
refining the research design - adjustment of research design
main research collection - collecting primary research data
analysis and interpretation
reporting of findings
Roles of marketing research
marketing research deffitition - links consumer to marketer through information - identifies marketing opportunities and problems - monitor performance
market research - collection and analysis of information about markets organisation and people to support business deicsions
ISBA - important to embed market research into strategic plans recommends asking questions at start of planning
what are strategic corporate goals
what info needs to achieve them
what research needed to deliver them
who will use it and how
did the infomation make a difference
behavioural - what do consumers do and why
attitudinal - access range of perceptions and opinions
product development - identify new trends and changing habits - ahead of target market - new products
product development implementation and evaluation - complex process of product development - research can provide effecting evaluation
public consultation - acclimatise government opinion with public opinion
communication - 2 way dialogue with stakeholders - selection of effective channels of communication
public relations - research - help companies understand behaviour + attitudes of audience
market measurement - identifying sizes, composition and profile of different markets - tracking changes and trends over time
ethics and marketing research
raises concerns about privacy + consumer data - feel uneasy about data about consumer behaviour
escalation on scams - consumers are less reactive to market research
some stew research to filter out negative reseults
guidlines have een developed - UKs MRS code of conduct - must also comply with data protection legalisation and safeguard personnel data.
types of data collection - 3 types organisational, marketing research and marketing intellegence
quantitative data - typical numerical
qualitative - textual or verbal data - explanatory - require interpretation and cannot be analysed statically.
marketing research in small businesses and not for profits
not much resources - can use secondary data - talk to customers - informal surveys - internet and observe competition
care taken for no personal bias