Marketing Research

-Definition of Marketing Research: Marketing research is the systematic and objective, identification, collection, analysis, dissemination, and use of information for the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing -Classification of Marketing Research Problem Identification Research: Research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research Problem Solving Research: Research undertaken to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research The Marketing Research Process: Defining the Problem, Developing an Approach to the Problem, Formulating a Research Design, Doing Field Work or Collecting Data, Preparing and Analyzing Data, Preparing and Presenting the Report Marketing Research Industry Full Service: Syndicated Services, Customized Services, Internet/Social Media Services Limited Service: Field Services, Qualitative Services, Analytical Services, Other Services Tasks Involved in Problem Definition: Discussions with Decision Makers, Interviews with Industry Experts, Secondary Data Analysis, Qualitative Research Management-Decision Problem Should a new product be introduced? Marketing Research Problem To determine consumer preferences and purchase intentions for the proposed new product. Primary data are originated by a researcher for the specific purpose of addressing the problem at hand. The collection of primary data involves all six steps of the marketing research process Secondary data are data which have already been collected for purposes other than the problem at hand. These data can be located quickly and inexpensively. Criteria for Evaluating Secondary Data Specifications Methodology Data