Kotler 4th Chapter

Topics: Marketing, Strategic management, Marketing research Pages: 4 (834 words) Published: July 16, 2011
Marketing Management
By Philip, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha logo copy.tif

SUMMARY by

Chapter

4
Why Marketing Research?
Successful Marketing Managers need timely, accurate and actionable information about consumers, competition and their brands to assess past performance, plan future activities and take strategic decisions leading to successful product launch or increase growth of a brand.

Conducting Marketing Research and Forecasting Demand

What is Marketing Research?
Systematic Design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

What are the major steps of Marketing Research Process?
Step 1 : Define the problem, the decision alternative and the research objective

Step 2 : Develop the research plan

Step 3 : Collect the information

Step 4 : Analyze the information

Step 5 : Present the findings

Step 6 : Make the decision

Chapter 4 - Conducting Marketing Research and Forecasting
Step 1: Achieve clarity on the content, the scope of market research and what all decisions are to be made on the basis of research. Step 2:

Secondary Data:
Already existing somewhere which was collected for some other purpose

Primary Data c be collected through following: can

Research Methods
•Observational Research: Observing Observational consumers, informal interviews, using tools from anthropology to provide deeper understanding of consumers. •Focus Group Research: A meeting of a Focus group of people who represent potential customers or important actors for research discussing issues relevant to research •Survey Research: Companies undertake Survey descriptive research to learn about people’s beliefs, preferences and satisfaction. •Behavioral Data: Customer’s actual Behavioral purchases do not match their statements made in surveys always hence certain techniques help in exposing these discrepancies •Experimental Research: This captures...
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