Marketing Research

1
Marketing Research

• Course Introduction

2
Scenario

• You are starting a new company.
• What kinds of information will be useful to you
  (i.e., what do you need to know?)?

3
Marketing Management and Marketing Research

• Marketing Management Planning and executing the
  4 Ps in order to satisfy the business enterprise
  and its customers.
• Getting the right goods and services, to the
  right people, at the right place and time, at the
  right price, through the right blend of
  promotional techniques.
• Common denominator uncertainty
• Information reduces uncertainty.
• Marketing research is the mechanism for
  generating information

1-3
4
How Do Firms Compete?

• Firms try to develop advantages over rivals.
• For example,
• Better employees
• Better systems, procedures, and processes
• Better information

5
Entering a New Market
6
PG

• PG wanted to market Vidal Sassoon shampoo in
  Eastern Europe.
• PG had been very successful marketing it in
  Western Europe.
• Used same strategy in Eastern Europe as in
  Western Europe.
• Failed Miserably

7
PG

• PG believed that consumers in Eastern Europe
  would react in the same way as people from
  Western Europe did.
• They did not.
• PG lacked information about consumers in target
  market.
• Vidal Sassoon salons unknown in Eastern Europe
• Slogan Gives you that salon-washed feeling
• In Poland, salon living room
• Gives you that living room-washed feeling

8
Marketing Research

• Marketing research is an effort to understand the
  business environment better and develop
  information that will allow the firm to develop
  advantages over rivals.