Information%20Management%20and%20Market%20Research

1
Information Management and Market Research

• Chapters 28 and 29

2
Marketing Research Links.
Consumer, Customer, and Public
Marketer through information
Marketing Research Involves the process
methods used to gather information, analyze it,
report findings related to marketing goods and
services.
3
Marketing Research

• What is the primary purpose of Marketing
  Research?
• To obtain information about the preferences,
  opinions, habits, trends, and plans of current
  and potential customers.

4
Marketing Research

• Marketing Information Systems is a set of
  procedures methods that regularly
• Generates
• Stores
• Analyzes
• Distributes

marketing information for use in making
marketing decisions.
5
Marketing Research

• Database Marketing Process of designing,
  creating, and maintaining customer lists.
• Also known as Customer Relationship Marketing
  (CRM)
• What do they use this information for?
• Sending out catalogs
• Special offers
• Selling information to other businesses

6
Market Research

• The type of research a business conducts depends
  on the problem they are trying to solve.
• Quantitative Research Answers questions that
  start with how many or how much. This type
  of information gathers information from a larger
  group of people.
• Usually done through surveys or questionnaires
• Qualitative Research Focuses on smaller numbers
  of people (usually less than 100) and tries to
  answer the question why or how.
• Usually done through interviews

7
Types of Marketing Research

• Attitude Research
• Also known as opinion research finds out how
  people feel about products. Commonly done
  through Satisfaction Surveys.
• Market Intelligence
• Concerned with size, location, competition and
  segmentation of the market for a product
• Helps a company determine who their target market
  is
• Media Research
• Focuses on media effectiveness, selection,
  frequency ratings.
• Helps marketers determine what methods of
  advertising would be most beneficial
• Product Research
• Centers on evaluating product design, package
  design, product usage, and customer acceptance of
  new and existing products.

8
Marketing Research Process

• The Marketing Research Process involves five
  steps
• Step 1
• Defining the problem
• Occurs when a company clearly identifies the
  problem what is needed to solve it
• Allows you to create objectives that will guide
  your research process

9
Types of Data

• Step 2 Obtaining data
• Primary Data
• Obtained for one particular purpose
• Secondary Data
• Already gathered for another purpose

10
Secondary Data Sources

• Internet
• U.S. Government
• Consumer and Business Information companies
• Business and Trade Publications

11
Primary Data Sources

• Obtained by
• Survey method
• Online surveys
• Phone surveys
• Interview Method
• Observation method
• Fastest and most cost-effective
• Mystery Shopper
• Experimental method

12
Mystery Shopper

• Researcher that poses as a customer and goes into
  a retail store to observe employees.

A mystery shopper is someone hired by a company
to pose as a customer, to evaluate the services
or purchase pre-selected merchandise. Becoming a
mystery shopper is free. It doesn't cost a penny
to find out about shopping opportunities
13
Research Process

• Step 3 Analyzing the data
• - Research compile, analyze, and interpret
• the data collected.
• Step 4 Recommending solutions to the problem
• - Researchers come up with potential solutions
  to
• the problem and present them in a report.
• Step 5 Applying The Results
• - Research results are put into action.

14
(No Transcript)
15
(No Transcript)
16
Finish MM Worksheet
Your 's should 100