Essentials of Marketing Research

1
Essentials of Marketing Research

• Chapter 1
• The Nature of
• Marketing Research

2
The Purpose of Marketing Research
I dont know if we should enter the Australian
Market?

• Information generation
• Marketing research fulfills the marketing
  managers need for knowledge of the market
• Information Reduces Uncertainty

3
Information Used for Success

• McDonalds
• 1968 formed marketing research dept.
• Late 1970s research indicated that more people
  eating breakfast away from home
• 1979 Egg McMuffin introduced
• Today- 30 of market share for fast-food
  restaurant breakfast
• In 1980s focus groups and surveys revealed that
  customers wanted more value and convenience
• Value meals developed-ordered by number and good
  price
• Constitute 50 of all transactions in US 90 in
  Mexico 60 in Japan

4
Information Not Used

• Nonsmokers put pressure on smokers to increase
  smoke free environments
• Research showed
• Smokers enjoyed being surrounded in smoke
• Liked to do something with hands and felt
  uncomfortable if couldnt
• Smokeless cigarettes hard to light
• Tasted terrible
• R.J. Reynolds introduced Premier (1988) and
  Eclipse (1996) smokeless cigarettes
• Premier cost 325 million Eclipse 125 million
• http//www.eclipse.rjrt.com/RJR/dtc_certify.jsp?br
  andECLfrom_Jeevestrue

5
Marketing Research Defined

• The systematic and objective process of
  generating information to aid in making marketing
  decisions

6
The Marketing Research Process
Specify what information is required
Design the method for collecting information
Communicate the findings and their implications
Analyze the results
Implement the data collection
Scientific method-systematic techniques
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The Marketing Research Process cont.

• Objective
• Accurate, unbiased data
• Researcher needs to remain as detached and
  impersonal as possible
• Research shouldnt be conducted to support
  preconceived ideas

8
Keeping Customers and Building Relationships

• RELATIONSHIP MARKETING - the idea that a major
  goal of marketing is to build long-term
  relationships with the parties who contribute to
  the companys success.
• Marketers want customers for life
• Sale isnt the end of the relationship, but
  beginning of it

9
Who Uses Marketing Research?

• Manufacturer of breakfast cereals
• Manufacturer of nuts, bolts and other fasteners
• A hospital
• Ole Miss
• The American Red Cross

10
Types of Marketing Research

• Researching the 4 Ps
• Product
• Hershey conducts taste test Reese's peanut
  butter cups vs. improved Reese's
• Consumers satisfaction with the product
• Package testing (size, color, shape, ease of use)
• Brand name evaluation (is is appropriate for the
  product)
• Price
• How much are consumers willing to pay for a
  product?
• How sensitive is demand to changes in price
  levels?

11
Bar-B-Q Buddies Original Spray Glaze-12 inches
tall!
12
Types of Marketing Research (cont.)

• Researching the 4 Ps cont.
• Distribution
• Research on traffic flow patterns in stores and
  where to place products
• Feelings about suppliers
• Satisfaction with ordering procedures
• Promotion
• How many consumers recall the Life Tastes Good.
  Coca Cola! slogan?
• Ad testing

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Types of Marketing Research (cont.)

• Identify and Evaluate Opportunities
• Try to determine how an industry or market will
  change
• Political and regulatory,economic, social,
  technological, cultural changes and how they will
  affect product/market
• Campbells found trend toward convenience
  orientation and introduced easy open tops to
  market.

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Types of Marketing Research (cont.)

• Analyzing Market Performance
• Did we achieve what we set out to?
• Sales analysis
• Market Share Analysis
• Consumers satisfaction rating after change
  implemented

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Career Information

• http//www.careers-in-marketing.com