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Did you go to the ballgame last Friday?

Did you go to the ballgame last Friday?. YES NO. Marketing Research. Systematic gathering, recording and analyzing of information about problems related to marketing goods and services. Uses of Marketing Research. Preferences and opinions Habits (lifestyle and buying)

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Did you go to the ballgame last Friday?

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  1. Did you go to the ballgame last Friday? • YES • NO

  2. Marketing Research Systematic gathering, recording and analyzing of information about problems related to marketing goods and services

  3. Uses of Marketing Research • Preferences and opinions • Habits (lifestyle and buying) • Trends (economic and consumer) • Future consumer plans

  4. Applications of Marketing Research • Product planning • Price planning • Promotion planning • Place/distribution • Minimization of losses (risk management) • Staffing requirements • Financial needs

  5. Advertising Research Product Research Market Research Sales Research Marketing Research can be categorized into 4 areas:

  6. Advertising Research

  7. Advertising Message What is it saying? Hitting target market? Recall? Meeting goals? Advertising Media TV, radio, magazine etc. Is your target market using/seeing it? Return on costs? Designed to measure:

  8. Common Techniques for Ad Research • Consumer panels – oral, written or observed behavior recorded • Ad recall • Written diaries/home monitors

  9. Product Research

  10. Focuses on… • Product design • Product usage • Product acceptance by consumers • Competitive products • Testing of existing products • Package design

  11. Applications of Product Research • Designing the package • Reynolds Plastic Wrap • New uses for existing product • Arm and Hammer Baking Soda • New product concepts • low fat • single serving • Pricing the product

  12. Market Research

  13. Focuses on… • Customer buying behavior – how buying decision is made, who makes it, etc. • Market trends – what the customers are buying “out there”

  14. Common techniques for Market Research • Questionnaires • Focus groups • Mall interviews • Phone interviews • Mystery shoppers • CLT (Central Location Testing)

  15. Sales Research

  16. Focuses on… • Sales data • Sales forecasting (determining potential sales for product) • Economic forecasting (determining potential economic conditions)

  17. Limitations of Marketing Research • Cost • Limited time to collect data • Customer commitment/validity of data • Time lag between research and application

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