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Unit 6: Marketing Research

Unit 6: Marketing Research. Functions of Marketing. Product Service Management Financing Selling Distribution Pricing Promotions Marketing Information Management. What is Marketing Research?.

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Unit 6: Marketing Research

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  1. Unit 6: Marketing Research Mrs. Brink Marketing Principles

  2. Functions of Marketing • Product Service Management • Financing • Selling • Distribution • Pricing • Promotions • Marketing Information Management Chapter 5

  3. What is Marketing Research? • Involves the marketing function that links the consumer, and the public to the marketer through information • Gather, analyze and interpret data related to a research problem

  4. How do we do Market Reasearch? • Through studies using the Market Research Process • Define the problem • Analyze the situation • Develop a data-collection procedure • Gather and study information • Propose a solution

  5. Step 1: Seeing the Problem Clearly • Discovering a problem always leads to research to find answers Step 1: Define the problem

  6. Step 2: Analyzing the Situation • Identify what is already known about the problem • View information that is available about the problem

  7. Step 3: Secondary V. Primary Data • Secondary data can be obtained by a number of agencies. It is PREXISTING information • Researching online • Government documents • Similar research done by other businesses • Primary data is information YOU GATHER. Can be done using: • the survey method • the observation method • the experimental method

  8. Step 4: Gather Information • Select the participants for primary research • Population: entire group that could be researched • Sample: group that represents entire population • Collect the data! • Analyze the data: Interpreting Results • Numerical data: Quantitative • Non-numerical data: Qualitative • WHAT DOES THIS DATA TELL US!

  9. Step 5: Propose a Solution • Solutions must be presented in a report • MUST BE FEASABLE! • Must be measurable!

  10. What methods are used to gather data?

  11. Primary Data • Primary data is EXTREMELY important to market research • Allows marketers to hear directly from consumers!

  12. Conducting Surveys • Surveys are the most common form of primary data • Should contain well thought out, SPECIFIC questions • Close-ended questions: forces people to pick from preselected answers • Open-ended questions: allows people to write in their own thoughts and responses

  13. Focusing on the Issues • Focus groups are a popular way to obtain primary data • Group of carefully selected people brought together to discuss • Always have a moderator • Important to have questions carefully written • http://www.youtube.com/watch?v=2djs-hy4s8k

  14. Making Observations • Observation collects information by recording actions without interacting or communication with the participant. • Recording devices include • Video cameras • Audio recorders • Bar code scanners • Eye-tracking photography

  15. Performing Experiments • Test markets: use a specific geographic region to be the study • EX: Chick-Fil-A Spicy Chicken • Simulations: experiments put together by researchers to see reactions to changes in marketing mix • EX: Febreeze • http://www.nytimes.com/video/business/media/100000000889874/febreze-commercial.html

  16. Trends in Market Research • Scanners • Social Media • Hashtags • Followers, likes • Selling consumer data • Customer Reward Cards

  17. Let’s see how this is really done! • Reading stations: • You will rotate with your table members • Read a total of 3 articles and answer all questions Chapter 5

  18. Hillgrove School Store Market Research Project • Problem: We are opening a school store but we are uncertain if our planned product selection will be successful • Your job is to find a solution to this problem through market research using online surveys! • Secondary data: North Gwinnett • Primary data: Surveys! Chapter 5

  19. Process • Define the problem • Analyze the situation • Already know….. • Balloons • Spirit Wear • Odds and ends—chap stick • School Supplies • North Gwinnett High School • Develop a data-collection procedure • Survey—10 questions that will answer problem • Gather and study information • Today! • Propose a solution • Write a brief report in class WED/THURS

  20. Writing Surveys • Demographic Questions: • ALWAYS AT THE BEGINNING • Mixture of close choice, open ended and scales • Likert scales Chapter 5

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