Marketing Research Chapter 1
Marketing Research Book Notes
Chapter 1: Introduction to Marketing Research
Learning Objectives
• To know the relationship of marketing research to marketing, the marketing concept and marketing strategy
• Define marketing research
• Understand the purpose/uses of marketing research
• Classify different types of marketing research studies
• Describe a marketing information system (MIS) and understand why marketing research occupies a place in an MIS
Marketing: “meeting needs profitably” Ex. Toyota Prius fulfilled the need for a more fuel-efficient car (for those who wanted it)
The AMA’s Definition: an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
* firms need to be more than customer-oriented → need to collaborate with and learn from customers
* service-dominated logic for marketing implies that information is really the main key to success
* “Monday morning quarterback” is one who criticizes or passes judgment from a position of hindsight
Marketing concept: a business philosophy that holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its chosen target markets; “market-driven” / “having a customer orientation”; puts the consumer first!!
Holistic marketing: Relationship Marketing, Integrated Marketing, Internal Marketing, Social Responsibility Marketing
Marketing strategy: consists of selecting a segment of the market as a company’s target market and designing the proper mix of product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market
• Assumes that we have already adopted the marketing concept
Marketing research: the process of designing, gathering, analyzing, and reporting
Chapter 1: Introduction to Marketing Research
Learning Objectives
• To know the relationship of marketing research to marketing, the marketing concept and marketing strategy
• Define marketing research
• Understand the purpose/uses of marketing research
• Classify different types of marketing research studies
• Describe a marketing information system (MIS) and understand why marketing research occupies a place in an MIS
Marketing: “meeting needs profitably” Ex. Toyota Prius fulfilled the need for a more fuel-efficient car (for those who wanted it)
The AMA’s Definition: an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
* firms need to be more than customer-oriented → need to collaborate with and learn from customers
* service-dominated logic for marketing implies that information is really the main key to success
* “Monday morning quarterback” is one who criticizes or passes judgment from a position of hindsight
Marketing concept: a business philosophy that holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its chosen target markets; “market-driven” / “having a customer orientation”; puts the consumer first!!
Holistic marketing: Relationship Marketing, Integrated Marketing, Internal Marketing, Social Responsibility Marketing
Marketing strategy: consists of selecting a segment of the market as a company’s target market and designing the proper mix of product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market
• Assumes that we have already adopted the marketing concept
Marketing research: the process of designing, gathering, analyzing, and reporting