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Market Research

Market research is the process of collecting information to make informed marketing and business decisions. This includes various methods of data collection and utilizing public or private information. Discover how companies gather data and personal information from customers and potential customers through mail-in rebates, online rebates, warranty cards, free stuff, and more. Explore the advantages and disadvantages of different data collection methods, such as personal interviews, focus groups, mail, point-of-sale terminals, telephone surveys, questionnaires, and user names and passwords on websites.

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Market Research

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Presentation Transcript

  1. Market Research

  2. What is it? • Process of collecting information and using it to make good (marketing/business) decisions • Various ways to collect data • Can use public information or private information • Primary or secondary information

  3. Examples… • Who has provided some personal information to a company within the last week? How? • What are some other ways companies collect information and data about you as either a customer or potential customer?

  4. Examples • Mail-in Rebates • Online Rebates • Warranty Cards • Free stuff (products, subscriptions)

  5. Many ways of collecting data • Advantages vs. Disadvantages • Personal interviews • Focus groups • Mail • POS terminals • Telephone • Surveys (questionnaires) • User names & passwords on websites • Any others?

  6. Process

  7. References • Pg 136 Sauder Wood Products • Radford College Student example • Car Wash Study • Census.gov

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