Role of Marketing Research
1. To provide information to decision makers in the marketing department of an organization 2. Types of decisions – 1. Strategic and 2. Tactical 3. Strategic Decisions- Related to Segmentation of the Market, Target Market Selection, and Positioning of the Product 4. Tactical decisions- Related to the 4 Ps of marketing – Product, Pricing, Promotion and Place (distribution)
LEVEL 1 (Strategic)
Target Market Selection Positioning
Information for Marketing Decisions Ps of Marketing PRODUCT PRICING PROMOTION PLACE
LEVEL 2 (Tactical)
Fig 1. The Role of Marketing Research
Marketing Information System
1. Information can come from multiple sources 2.Two main sources are Marketing Intelligence and Marketing Research
3.Marketing Intelligence - a continuous process, usually internally managed, based on published or otherwise available data, may be stored for future use 4.Examples of Intelligence - Industry Data, Competitor’s Announcements 5.Marketing Research - data collected for specific action or decision problem, focused, with a time and budget, done by external marketing research company or by company staff, usually with a written report and/or presentation to the study’s sponsor Marketing Intelligence Ongoing Process Usually done in-house Not meant for immediate action General purpose Focus on competition, environment Marketing Research Project based on Information Gap Mostly outsourced to M.R. Companies Action oriented
Very specific answers to questions Focus on consumers, influencers, etc.
Table 1: Marketing Intelligence versus Marketing Research
Who Does The Marketing Research?
1. Professional marketing research companies like ORG-MARG, IMRB, TN Sofres Mode, Gallup MBA. 2. In-house marketing research department 3. Company staff from marketing/sales/customer...