Marketing Research Flashcards
marketing research definition
the systematic and objective identification, collection, analysis, dissemination and use of information that is undertaken to improve decision making related to identifying and solving problems in marketing
why is marketing research used
- improve decision making related to identifying and solving problems in marketing
what does problem identification research involve
going below the surface to identify the underlying problem that marketing management is facing
which is the more common of the two forms of marketing research
problem identification research
what are the 2 forms of marketing research
- problem identification research
2. problem solving research
components in problem identification research
- market potential research
- market share research
- image research
- market characteristics research
- forecasting research
- business trends research
components in problem solving research
- segmentation research
- product research
- pricing research
- promotion research
- distribution research
steps in marketing research process
- defining the problem
- developing an approach to the problem
- formulating a research design
- doing fieldwork/collecting data
- preparing/analyzing data
- preparing and presenting the report
how do marketing researchers define a problem
- discussions with decision makers
- interviews with industry experts
- analysis of secondary data
how do marketing researchers develop an approach to a problem
by formulating an analytical framework and model, research questtions and hypothesis
what is a research design
a framework or blueprint for conducting the marketing research product
what does a research design do
details to procedures needed to obtain the information required
what does data preperation involve
data processing steps leading up to analysis including
- editing
- coding
- transcribing of collected data
what should a markeing report contain
- specific research questions
- description of the approach
- description of the research design
- data collection and data anlysis procedures
- presenttation of results and major findings
list of uncontrollable environmenttal factors
- economy
- technology
- compettition
- laws and regulation
- social and cultural factors
- political factors
customer groups
- Consumers
- employees
- channel memberes
- suppliers
controllable marketing variables
- product
- pricing
- promotion
- distribution
competitive intelligence
the process of enhancing marketplace competitiveness through a greater underrstanding of a firms competitors and the competittive environmentt
competitive intelligence process
legtal collection and analysis of information regarding the capabilities, vulnerabilities and inttentions of business competitors
what does competitive inttelligence enable
allows companies to anticipate market developments ratther than reacting to them
what is the decision to conduct marketing research guided by
- management’s attitude towards research
- resources availible to conduct the research
- the need for additional info
- importance of the decision
- cost v benefit analysis of conduction of research
internal supplier of marketing research
found within the firm in the marketing department
external supplier of marketing research
outside firms that are hired to supply marketing research services
list of services an exenal supplier offers
- problem definition
- approach developemnt
- questionaaire design
- data collection
