Marketing research lecture

Research To understand Marketing Research, we must answer these questions: What is marketing? What is the marketing concept? What Is marketing strategy? First off, what Is marketing? Finding out what people want and getting it to them. That is why this class is so important. What is Marketing? Defined by the AMA – An organizational function and a set of processes for creating, communicating and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders.

To Practice Marketing, Implement the Marketing Concept, or Develop the ” Right” Strategy: Managers must make decisions. To make the ” right” decisions, the following kind of Information Is needed: objective accurate timely You can’t make marketing decisions without good information. What is Marketing Research? (Textbook definition) Marketing Research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem. What is the purpose of Marketing Research? To link the consumer to the marketer by providing information that can be used in aging marketing decisions.

Marketing Research Is not Infallible Marketing research stated these ” successes” would be ” failures:” Stella Argots Sniffed Marketing research stated these ” failures would be ” successes:” Soft[email protected]Kingsbury What are the uses of Marketing Research? Identify marketing opportunities and problems Monitor marketing performance Improve marketing as a process Classifying Marketing Research Studies Studies that identify marketing opportunities and problems: Market-demand determination Market segments identification Marketing audits – SOOT analysis.

Studies that generate, refine, and evaluate potential marketing actions: Proposed marketing-mix evaluation testing New-product prototype testing Advertising protesting Studies that monitor marketing performance Image analysis Tracking studies Customer satisfaction studies Improving marketing as a process The purpose of these studies is to expand knowledge (basic research) of marketing as a process rather than to solve a specific problem facing a company The Marketing Information System An MIS is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. Components of an MIS Internal Reports System Marketing Intelligence System Marketing Decision Support System (ADS) Marketing Research System The Marketing Research System has a role in MIS because… It gathers information not gathered by the other MIS component subsystems. Marketing research studies are conducted for a specific situation facing the company. Marketing research projects unlike other MIS components are not continuous – they That is what we are going to spend the rest of the semester doing.