Introduction to Marketing Research

11

Dr. Ritesh Dalwadi (www.riteshdalwadi.com)This learning material is prepared from various published (both print and online) sources for class discussion and teaching purpose. Feel free to contact me at [email protected] for further information.

Marketing Research - Introduction

• Marketers aim to create and deliver superior value compared to competitors.

• How does a marketers know that customers view their products and services valuable?

2

3

Marketing Research Defined

“Marketing research is the function that links the consumer, customer, and

public to the marketer through information - information used to identify and

define marketing opportunities and problems; generate, refine, and evaluate

marketing actions; monitor marketing performance; and improve

understanding of marketing as a process. Marketing research specifies the

information required to address these issues, designs the methods for

collecting information, manages and implements the data collection

process, analyzes, and communicates the findings and their implications.”

- American Marketing Association (AMA)

4

Marketing Research Defined

• Base on the definition given by AMA, it is the application of the scientific method in searching for the truth about marketing phenomena.

5

Marketing Research Defined

• The market research information is not:

6

1. Not perceptive or unsystematically collected

2. Perfect and objective

3. Pertinent to all aspects of marketing mix

4. Limited by one’s definition of marketing

Applied Marketing Research

Applied marketing research• conducted to address a specific marketing

decision for a specific firm or organization.

7

• For Example: • Should McDonald’s add Italian pasta dinners to its

menu?

Basic Marketing Research

• Basic marketing research

• conducted without a specific decision in mind that usually does not address the needs of a specific organization.

1. Attempts to expand the limits of marketing knowledge in general.

2. Not aimed at solving a pragmatic problem.

• For Example:

• Do consumers experience cognitive dissonance in low-involvement situations?

8

The Scientific Method

Scientific Method

• The way researchers go about using knowledge and evidence to reach objective conclusions about the real world.

9

• The analysis and interpretation of empirical evidence (facts from observation or experimentation) to confirm or disprove prior conceptions

A Summary of the

Scientific

Method

10

Should We Conduct Marketing Research?

11

Myths about Marketing Research

Myth #1: A marketing researcher could never understand complex market problems. 

Myth #2: Marketing research is a very long process and time consuming.

Myth #3: There is a one specific marketing research tool for several research problems.

Myth #4: A marker should carry out one marketing research survey/study every year or few years.

Myth #5: Marketing research is too expensive.

12