Did you go to the ballgame last Friday? YESNO. Marketing Research Systematic gathering, recording and analyzing of information about problems related.

Did you go to the Did you go to the ballgame last Friday?ballgame last Friday?

YESYES

NONO

Marketing Marketing ResearchResearch

Systematic gathering, Systematic gathering, recording and analyzing of recording and analyzing of

information about problems information about problems related to marketing goods and related to marketing goods and

servicesservices

Uses of Marketing Uses of Marketing ResearchResearch

Preferences and opinionsPreferences and opinions

Habits (lifestyle and Habits (lifestyle and buying)buying)

Trends (economic and Trends (economic and consumer)consumer)

Future consumer plansFuture consumer plans

Applications of Applications of Marketing Marketing ResearchResearch

Product planningProduct planningPrice planningPrice planningPromotion planningPromotion planningPlace/distributionPlace/distributionMinimization of losses (risk Minimization of losses (risk management)management)Staffing requirementsStaffing requirementsFinancial needsFinancial needs

Marketing Research can Marketing Research can be categorized into 4 be categorized into 4

areas:areas:

Advertising ResearchAdvertising Research

Product ResearchProduct Research

Market ResearchMarket Research

Sales ResearchSales Research

Advertising Advertising ResearchResearch

Designed to Designed to measure:measure:

Advertising Advertising MessageMessage

What is it What is it saying? saying?

Hitting target Hitting target market?market?

Recall?Recall?

Meeting goals?Meeting goals?

AdvertisingAdvertising

MediaMedia

TV, radio, TV, radio, magazine etc.magazine etc.

Is your target Is your target market market using/seeing it?using/seeing it?

Return on Return on costs?costs?

Common Techniques for Common Techniques for Ad ResearchAd Research

Consumer Consumer panels – oral, panels – oral, written or written or observed observed behavior behavior recordedrecordedAd recallAd recallWritten Written diaries/home diaries/home monitorsmonitors

Product Product ResearchResearch

Focuses on…Focuses on…Product designProduct design

Product usageProduct usage

Product Product acceptance by acceptance by consumersconsumers

Competitive Competitive productsproducts

Testing of Testing of existing productsexisting products

Package designPackage design

Applications of Product Applications of Product ResearchResearch

Designing the packageDesigning the package Reynolds Plastic WrapReynolds Plastic Wrap

New uses for existing productNew uses for existing product Arm and Hammer Baking SodaArm and Hammer Baking Soda

New product conceptsNew product concepts low fatlow fat single servingsingle serving

Pricing the productPricing the product

Market Market ResearchResearch

Focuses on…Focuses on…Customer buying Customer buying behavior – how behavior – how buying decision is buying decision is made, who makes made, who makes it, etc.it, etc.

Market trends – Market trends – what the what the customers are customers are buying “out buying “out there”there”

Common techniques for Common techniques for Market ResearchMarket Research

QuestionnairesQuestionnaires

Focus groupsFocus groups

Mall interviewsMall interviews

Phone interviewsPhone interviews

Mystery shoppersMystery shoppers

CLT (Central CLT (Central Location Testing)Location Testing)

Sales ResearchSales Research

Focuses on…Focuses on…Sales dataSales data

Sales forecasting Sales forecasting (determining (determining potential sales for potential sales for product)product)

Economic Economic forecasting forecasting (determining (determining potential economic potential economic conditions)conditions)

Limitations of Marketing Limitations of Marketing ResearchResearch

CostCost

Limited time to collect dataLimited time to collect data

Customer Customer commitment/validity of datacommitment/validity of data

Time lag between research Time lag between research and applicationand application