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Marketing research, as defined by the American Marketing Association, is crucial for identifying opportunities, refining actions, monitoring performance, and enhancing overall marketing processes. Explore reasons for conducting marketing research, including understanding customer needs, analyzing competition, building credibility, adapting to change, and ensuring accuracy and reliability. Discover the marketing research process, from defining the problem to presenting the research report, and learn about primary and secondary research methods along with their importance in gathering valuable information.
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Chapter 6 Marketing Research
Marketing Research According to the American Marketing Association (AMA), “the function which links the consumer, customer, and public to the marketer through information.”
Marketing Research (continued) • The information is used to: • 1. Identify and define marketing opportunities and problems. • 2. Generate, refine, and evaluate marketing actions. • 3. Monitor marketing performance. • 4. Improve understanding of marketing as a process.
Reasons for Doing Marketing Research: The Five Cs Customers: To determine how well customer needs are being met, investigate new target markets, and assess and test new services and facilities Competition: To identify primary competitors and pinpoint their strengths and weaknesses
Reasons for Doing Marketing Research: The Five Cs (continued) Confidence: To reduce the perceived risk in making marketing decisions Credibility: To increase the believability of promotional messages among customers Change: To keep updated with changes in travelers’ needs and expectations
Figure 6.3 Relationship of marketing research to the hospitality and travel marketing system.
Five Key Requirements of Marketing Research Information 1. Utility: Can we use it? Does it apply to us? 2. Timeliness: Will it be available in time? 3. Cost-effectiveness: Is it worth the money? 4. Accuracy: Is it accurate? 5. Reliability: Is it reliable?
Marketing Research Process Define the research problem Develop an approach to the research problem Formulate the research design Conduct the data collection or fieldwork Prepare the data and analysis Prepare and present the research report
Figure 6.6 The marketing research process steps and procedures.
Secondary and Primary Research • Secondary research: Published information available from other sources, either internal or external • Primary research: Data collected for the first time, by a method other than secondary research, to answer specific questions
Primary Research Methods Experimental (e.g., test marketing) Observational (human and mechanical) Survey (telephone, personal interview, online, mail, in-house ) Simulation Focus groups
