study guide

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Published on 4 Apr 2011
School
UTSC
Department
Management (MGT)
Course
MGTA02H3
Professor
Management Lecture 7
Marketing: Chapter 5
-M/C or S/A just on segmentation
-Market research M/C or a S/A questions
Market Research
-Well management business shouldnt be preoccupied on selling what its always made,
shouldnt sell what it likes to sell, or what it has the marketing concept: What is the
marketing concept? M/C It says that a business should always and everyone in the
business should be customer friendly.
- McDonalds customers didnt want burgers because they were unhealthy so they started
making salads.
-How do you find out what your customers need and what they want?
- Subway asks what they want.
-Market research: the systematic study of what buyers what or need. Going ot and asking
people what they want.
Secondary Market Research
-Before you go out and ask people what they want, firms go through a secondary
market research. This is research using information or data that is already out there.
Begin process of finding out about customer, industry.
-Employees sit in library for a while, subscribe to magazine to see what industries have
already collected. Marketing research you do by sitting on your bum
-Business plan you give to investor, banker or capitalist you have an idea and you ask
them to help you start up that business or idea.
- You answer the general question of what makes you think that someone out there will
want to buy this stuff?
- not information that you generate yourself, second hand knowledge, stuff people
already found out. You do this second.
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Primary Market research
-research that you do yourself
-You do it on your feet, out on the streets, in restaurants; you go out and interact with
people.
-What customers watch, listen to, look at, where they shop, ect.
-
Observation vs. Communication
-Prof Gives lecture by observation, when people start sleeping and nodding off he tells
students to take a break. Its distracting and doesnt want students to be rude.
-Google watches what you type in, what youre interested in, because if they find out what
you want they may be able to flaunt more stuff to you. They are watching what you do on
the internet.
-Wal mart has cameras and watches what customers are doing and then market
researchers look at these images and looks at what customers want.
-Observation: Brand named stuff is at mid shelf and the no name items are below the
brand name items
-No interviewer bias in observation: They and find out what people, think do, and want.
Problem with talking to people is sometimes the interviewer will plead filature or bully or
intimidate you to get the right answer. That is called interviewer bias. Prof Going up to
students and asking how they like the lecture, they go up to students and ask if its an
excellent or great lecture. If answer right answer they give high grade.
-what observing then consumers are not sucking up to the researcher, instead researchers
are observing what customers are doing naturally.
-You know what they do but you dont know why. Disadvantage: cant obverse response to
product if you dont have a product yet.
-If want to find out why people are doing things, if want to have a better understanding of
customers needs and preferences.
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Document Summary

Market research m/c or a s/a questions: market research. M/c i t says that a business should always and everyone in the business should be customer friendly. Mcdonalds customers didn"t want burgers because they were unhealthy so they started making salads. Market research: the systematic study of what buyers what or need. Going ot and asking people what they want: secondary market research. Before you go out and ask people what they want, firms go through a secondary market research. This is research using information or data that is already out there. Begin process of finding out about customer, industry. Employees sit in library for a while, subscribe to magazine to see what industries have already collected. Marketing research you do by sitting on your bum. Business plan you give to investor, banker or capitalist you have an idea and you ask them to help you start up that business or idea.