Marketing Research Essentials.ppt

,The Role of Marketing Research in Management Decision Making,Chapter One,Copyright 2004John Wiley&Sons,Inc.,Learning Objectives,1.To review the marketing concept and the marketing mix.,2.To comprehend the marketing environment within which managers must make decisions.,3.To define marketing research.,4.To understand the importance of marketing research in shaping marketing decisions.,5.To learn when marketing research should and should not be conducted.,To review the marketing concept and the marketing mix.,Marketing:The process of planning and executing the conception,pricing,promotion,and distribution of ideas,goods,and services.,The Marketing Concept,(1)a consumer orientation(2)a goal orientation(3)a systems orientation,Learning Objectives,Nature of Marketing,To comprehend the marketing environment.,The External Marketing EnvironmentMarketing research is the key to understanding the environment provides information for altering marketing mix identifies new opportunities,Learning Objectives,Nature of Marketing,To define marketing research.,Marketing Research Defined,The planning,collection,and analysis of data relevant to market decision making and communication of the results of this analysis to management.,The Importance of Marketing Research to Management,descriptive function diagnostic function predictive function,Learning Objectives,Market Research and Decision Making,To understand the importance of marketing research.,The Proactive Role of Marketing Research,A proactive management:alters the marketing mix to fit newly emerging patterns in economic,social,and competitive environmentsnew opportunitiesdevelops a long-run marketing strategy,Learning Objectives,Market Research and Decision Making,Applied Research versus Basic Research,Applied researchTo better understand the market.Basic research To expand the frontiers of knowledge.,To understand the importance of marketing research.,Learning Objectives,Market Research and Decision Making,To learn when marketing research should and should not be conducted.,In a number of situations it is best not to conduct market research.,A Lack of Resourceslack of fundsinsufficient funds to implement decisions from research Research Results Would Not Be UsefulClients may be hard-pressed to use the information,Learning Objectives,Deciding Whether to Conduct Market Research,To learn when marketing research should and should not be conducted.,Opportunity Has PassedMarketing research should not be undertaken if the opportunity for successful entry into a market has passed.The Decision Has Already Been MadeMarketing research may be used improperly.,Learning Objectives,Deciding Whether to Conduct Market Research,To learn when marketing research should and should not be conducted.,When Managers Cannot Agree on What They Need to Know to Make a DecisionThe wrong phenomena might be studiedWhen Decision-Making Already ExistsFurther research may be redundant and costlyWhen the Costs of Conducting Research Outweigh the BenefitsPotential new products with large profit margins may have a greater potential,Learning Objectives,Deciding Whether to Conduct Market Research,The Decision Whether to Conduct Market Research,Cost likely to be greater than benefit;e.g.,eyeglasses replacement screw,Small,Possible benefits greater than cost;e.g.,ultra expensive sportswear,Market Size,Small Profit Margin,Large Profit Margin,Benefits likely to be greater than costs;e.g.,Stouffers frozen entries,Benefits likely to be greater than costs;e.g.,medical equipment,Large,Table 1.1,Advantages of Internet Surveys,Rapid Development,Real Time ReportingDramatically Reduced Costs Readily PersonalizedEase and Convenience Encourage Respondent ParticipationContact the Hard-to-Reach,To understand the importance of marketing research.,Learning Objectives,Profound Impact of the Internet,Other Uses of the Internet by Marketing Researchers,Replacement of libraries and printed materialsDistribution of requests for proposals and proposals Collaboration between the client and the research supplierData management and on-line analysisOral presentations of marketing surveys,To understand the importance of marketing research.,Profound Impact of the Internet,Learning Objectives,Marketing ConceptExternal Marketing EnvironmentMarketing Research DefinedProactive Role of Marketing ResearchApplied Research vs Basic ResearchWhen Not To Conduct ResearchAdvantages of Internet Surveys,SUMMARY,The End,Copyright 2004,John Wiley&Sons,Inc.,