MKT 500 Final: MKT 500 - Marketing Research Chapter 1-8
17 May 2018
School
Department
Course
Professor
1
MKT 500: Chapter 1-8
Chapter 1: Introduction to Marketing research ..................................................................................................... 1
Chapter 2: : The Marketing Research Industry ....................................................................................................... 3
Chapter 3: Marketing Research Process and Defining the Problem and Research Objectives .............................. 5
Chapter 4: Research Design .................................................................................................................................... 8
Chapter 5: Secondary Data and Packaged Information........................................................................................ 13
Chapter 6: Qualitative Research Techniques ........................................................................................................ 15
Chapter 7: Evaluating Survey Data Collection Methods ....................................................................................... 17
Chapter 8: Understanding measurement, Developing Questoons and Designing the Questionnaire ................ 23
Netnography ......................................................................................................................................................... 27
Chapter 1: Introduction to Marketing research
Marketing:
➢ The activity, set of institutions and processes for creating, communicating, delivering and
exchanging offerings that have value for customers, clients, partners and society at large
➢ Meeting needs profitably
➢ Modern marketing believe that firms should collaborate with and learn from customers.
Crowdsourcing
➢ The practice of obtaining services or ideas by asking for assistance from a large group of
people,
- generally online communities
Marketing Concept
➢ Business philosophy
➢ The key to achieving organizational goals consists of:
- Being more effective than competitors in creating, delivering and communicating
customer value to its chosen target markets.
Marketing Strategy
➢ Selecting a segment of the market as the company’s target market
➢ Designing the proper “mix” of:
- Product/service
- Price
- Promotion
2
- Place
➢ To meet the wants and needs of the consumers within the target market
Market Research
➢ The process used to define the size, location and makeup of the market for a product or
service
➢ Refer to applying marketing research to a specific market area.
Marketing Research
The process of:
➢ Designing, gathering, analyzing and reporting information that may be used to solve a
specific marketing problem
➢ A process used by businesses to collect, analyze and interpret information
➢ Used to make sound business decisions and successfully manage the business
Function of
Marketing Research
➢ To link the consumer to the marketer by providing information that can be used to making
marketing decisions
➢ Uses of
marketing
research?
1. Identify marketing opportunities and problems
2. Generate, refine and evaluate potential marketing actions
- Selecting target markets
- Product Research
- Pricing Research
- Promotion Research
- Distribution Research
3. Monitor marketing performance
4. Improve marketing as a process.
Basic Research:
➢ Conducted to expand knowledge
rather than to solve a specific
problem.
Applied Research
➢ Research that is conducted to solve
specific problems
➢ However, it’s not a perfect science
- Predicting consumers is not an easy task
- When research says yes, market may say no
- Research says no, but our ego says yes
- Non existent products are one the biggest challenges.
Marketing
Information System
(MIS)
➢ 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.
➢ Internal
Reports
System
➢ Gathers information generated within a firm including orders, billing, receivables,
inventory levels, stock out etc.
➢ Marketing
Intelligence
System
➢ Defined as a set of procedures and sources used by managers to obtain everyday
information about pertinent developments in the environment.
➢ Marketing
Decision
Support
System
(DSS)
➢ Defined as collected data that may be accessed and analyzed using tools and techniques
that assist managers in decision making
3
Chapter 2: : The Marketing Research Industry
Charles
Coolidge
Parlin
➢ First recorded organized marketing research study 1911 (U.S) when he was hired by Curtis
Publishing Company to gather information about customers and markets to help Curtis sell
advertising space
➢ 6 month industry wide survey (460 pages)
- “Revealed unexpected facts about where agricultural tools were made, to whom they
are sold, when and where”
➢ Parlin conducted the first continuous marketing research to increase advertising for the
Saturday evening post magazine.
Industrialized
Revolution
➢ Before industrial revolution, businesses didn't need to study their customers, they saw them
everyday
➢ The industrialized revolution led to the manufacturers producing goods for distant markets
➢ Manufacturers needed to know about faraway consumers.
Who Conducts
Research?
Internal
External
➢ Client-side research is conducted
within the organization.
➢ In House
➢ Sell products and conducts
research independently
- Ex. Fortune 500 Companies
➢ Agency Side or Supply Side
research conducted by an outside
firm hired to fulfill a company’s
marketing research needs.
➢ Supplier firm may be referred to as
an agency or simply as a supplier.
➢ Full Service or Limited Service
- Second party is hired to
conduct research
➢ Marketing insights often uses a max of internal and external suppliers
➢ New and evolving sources of data and methods
MRIA
Marketing Research and Intelligence Association
Esomar
$43 Billion Dollar Global Industry
