1. Marketing Research

2. Marketing Research
O One of the key elements in a marketing
decision support system is marketing
research. This process helps to deliver
information to marketing managers and
decision-makers.
O Marketing research is a critical component
of a marketing decision support system.

3. Marketing Research
O Marketing research is the systematic
gathering, recording, and analysis of data
relating to marketing products and services.
O The goal of marketing research is to identify
and assess how changing elements of the
marketing mix impacts customer behavior.
O Its uses include:
O helping create a business plan,
O launch a new product or service,
O fine tune existing products and services,
O and expand into new markets.

4. Marketing Research
O Managers use marketing
research to:
O Improve the quality of decision-
making.
O Trace problems.
O Focus on the importance of retaining
customers.
O Understand the changing
marketplace.

5. Consumer & B2B
O Consumer marketing research studies
the buying habits of individual people
O While business-to-business (B2B)
marketing research investigates the
markets for products sold by one business
to another.

6. For what? / whom?
O Market research is
valuable for all persons
involved in a business!
O Market research can be
used to determine which
portion of the population
will purchase a
product/service,
O Based on variables like
age, gender, location and
income level.

7. Questions it answers
O What is happening in the market?
O What are the trends?
O Who are the competitors?
O How do consumers talk about the products in the
market?
O Which needs are important?
O Are their needs being met by our current products?

8. What and how!
O Market research is for
discovering what people
want, need, or believe.
O It can also involve discovering
how they act.
O Once that research is
complete it can be used to
determine how to market your
specific product.

9. Marketing Research
Techniques
Marketing research techniques to collect data
come in many forms. For example:
Surveys
Questionnaires
Test marketing
Mystery shoppers
Store Audits
Data tracking

10. Interesting Methods
O Mystery shopping - An employee or
representative of the market research firm
anonymously contacts a salesperson and
indicates he or she is shopping for a product.
O The shopper then records the entire experience.
O This method is often used for quality control or for
researching competitors' products.
O Test marketing - a small-scale product
launch used to determine the likely
acceptance of the product when it is
introduced into a wider market.

11. The Phonies!
O Sugging (or selling under the guise of
market research) forms a sales technique in
which sales people pretend to conduct
marketing research, for a later sales call.
O Frugging comprises the practice of soliciting
funds under the pretense of being a research
organization.