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MARKET RESEARCH

MARKET RESEARCH. CHAPTER 5. Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013. 1. B2C vs. B2B Market Research. Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5

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MARKET RESEARCH

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  1. MARKET RESEARCH CHAPTER 5 Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 1

  2. B2C vs. B2B Market Research Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 2

  3. Marketing Information System (MkIS) • A Marketing Information System – integrated approach to developing, storing and using information. • Include market research, internal and external data sources. • Information is placed in “data warehouse”. • Effective Decision Support System (DSS). Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 3

  4. The Marketing Research Process Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 4

  5. Internet Business Information Sources 5 Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013

  6. Developing Primary Data Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 6

  7. Developing Primary Data Fig. 5.1 Cost vs. speed in surveys Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 7

  8. B2B Survey Methods Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 8

  9. Sampling • Random sampling is difficult due to small number of potential respondents. • Stratified random sampling is common. • In many markets 100% review of the population is possible. Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 9

  10. Developing Questionnaires • Introduction should be succinct and should let the respondents know why their answers are important. • Questions should be in a logical order. • For telephone and mail surveys, closed questions are best. • For interviews and focus groups, open questions are best. • Avoid double questions. • Keep language simple and jargon-free. • Allow for “don’t know” responses. • Avoid hypothetical questions. Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 10

  11. Analyzing Data Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 11

  12. Development of Market and SalesForecast Fig. 5.2 Development of market forecast and sales forecast Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 12

  13. Time Series Analysis Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 13

  14. Common Sales Forecasting Techniques Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 14

  15. Organizing for Market Research Fig. 5.3 Sample research proposal Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 15

  16. Managing Research Projects Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 16

  17. The Benchmarking Process Fig. 5.4 The benchmarking process Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 17

  18. Exhibit 5.1 Customer market survey Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 18

  19. Summary • Market research is critical to effective business marketing program. • Developing an effective marketing information system and a decision support system requires consistent effort. • The most important step in developing market research is finding what kind of information is needed. • Research is used to develop critical ratios, which are applied to known data to develop market potential. • Composite method and scenario analysis are used in research. • Many firms have combined centralized and decentralized approach to research. • To be successful, a project must have the support of top management. • Benchmarking is the process of identifying best practices in organizations. • Important to have an action plan in order to establish real competitive advantage. Use with BUSINESS TO BUSINESS MARKETING MANAGEMENT: A GLOBAL PERSPECTIVE ISBN 978-0-415-53702-5 Published by Routledge 2013 19

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