Marketing research involves studying consumer needs and wants to help sellers meet them. It is a process that includes assessing information needs, collecting primary and secondary data through methods like surveys, observation, and experiments, analyzing the data, and preparing a report. The research helps inform marketing decisions around variables like product, price, place, and promotion. It also considers environmental factors and stakeholders. The goal is to help marketing managers develop effective marketing plans and strategies.

1. Marketing Research
The study of consumer
needs and wants and
the ways in which
sellers can best meet
them

2. Market Research and the Marketing Process
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MARKETINGMARKETING
RESEARCHRESEARCH
Controllable
Marketing
Variables
• Product
• Pricing
• Promotion
• Place
Environmental
Factors
• Economic
• Technological
• Competitive
• Political & Legal
• Social & Cultural
• Consumers
• Employees
• Investors
• Suppliers
• Local Communities
Marketing Managers
• Market Segmentation
• Target Market Segmentation
• Marketing Plan
• Goals for Performance
Assessing
Information
Needs
Providing
Information
Making
Decisions
Stakeholders

3. The Research Process
 Study the Current Situation
 Select a Research Method
 Collect Data
 Analyze the Data
 Prepare a Report
Secondary DataSecondary Data
Data readily available as aData readily available as a
result of previous researchresult of previous research
Primary DataPrimary Data
Data developedData developed
through new researchthrough new research

4. Research Methods
ObservationObservation
Market research technique that involves simply watching andMarket research technique that involves simply watching and
recording consumer behaviorrecording consumer behavior
SurveySurvey
Market research technique using a questionnaire that isMarket research technique using a questionnaire that is
either mailed to individuals or used as the basis of interviewseither mailed to individuals or used as the basis of interviews
Focus GroupFocus Group
Market research technique in which a group of people isMarket research technique in which a group of people is
gathered, presented with an issue, and asked to discuss it ingathered, presented with an issue, and asked to discuss it in
depthdepth
ExperimentationExperimentation
Market research technique that attempts to compare theMarket research technique that attempts to compare the
responses of the same or similar people under differentresponses of the same or similar people under different
circumstancescircumstances

5. The Consumer Buying Process
Personal & Environmental Factors
PsychologicalPsychological PersonalPersonal SocialSocial CulturalCultural
Stages of the Consumer Buying ProcessStages of the Consumer Buying Process
Evaluation of
Alternatives
Which are
comfortable?
Which are
affordable?
How will others
react to them?
Evaluation of
Alternatives
Which are
comfortable?
Which are
affordable?
How will others
react to them?
Information
Seeking
Search for
stores, styles,
prices,
opinions of
others
Information
Seeking
Search for
stores, styles,
prices,
opinions of
others
Problem
Recognition
Need to
replace old
shoes
Problem
Recognition
Need to
replace old
shoes
Purchase
Decision
Choose
rationally or
emotionally
Purchase
Decision
Choose
rationally or
emotionally
Postpurchase
Decision
Observe
reactions of
others; test
durability,
compare with
older shoes
Postpurchase
Decision
Observe
reactions of
others; test
durability,
compare with
older shoes
Marketing Factors
ProductProduct PricingPricing PromotionPromotion PlacePlace
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6. The External Marketing Environment
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The Firm and Its Marketing Plan
 Plans
 Strategies
 Decisions
Competitive
Environment
Political & Legal
Environment
Social &
Cultural
Environment
Economic
Environment
Technological
Environment

7. The External Marketing Environment
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The Firm and Its Marketing Plan
 Plans
 Strategies
 Decisions
Competitive
Environment
Political & Legal
Environment
Social &
Cultural
Environment
Economic
Environment
Technological
Environment