BASIC MARKETING RESEARCH: a DECISION MAKING APPROACH (3Rd Ed.) s1

BASIC MARKETING RESEARCH: A DECISION MAKING APPROACH (3rd ed.)

LECTURE NOTES

Presented by: Teoman Duman

Chapter 1. Introduction to Marketing Research

v Reebok example – time use research to determine how consumers spend their spare time. Reebok developed home-aerobics line based on research findings.

v Figure 1.1. gives the outline for the chapter.

v Definition of marketing research – The systematic and objective identification, collection, analysis, dissemination and use of information that is undertaken to improve decision making related to identifying and solving problems in marketing. Marketing problems often lead to opportunities in markets.

v Aclassification of marketing research – A broad categorization where marketing research is classified into two categories – problem identification research and problem solving research (Figure 1.3.).

v Marketing research process – consists of six steps (Figure 1.4)

v The role of marketing research in marketing decision making – Marketing research is an important tool for marketing managers to collect data about uncontrollable environmental factors, customer groups and controllable marketing variables. Managers assess information needs, get information and make decisions with the data collected through marketing research (Figure 1.5).

v The decision to conduct marketing research – depends on a number of considerations including the costs vs. the benefits, resouces available to conduct research and implement the findings, managers’ attitude toward research.

v An overview of the marketing research industry – internal research supplier is the marketing research department in the firm, external suppliers are full-service or limited service research companies (Figure 1.6.).

v The role of marketing research in MIS and DSS – MIS refers to marketing information system. It is a formalized set of procedures for generating analyzing, storing and distributing information to marketing decision makers on an ongoing basis. DSS refers to decision support systems. These systems have built-in flexibility that allows decision makers to interact directly with databases and analysis models (Figure 1.8).

v Ethics in marketing research – Ethics is the most important consideration for marketing practices today. A number of ethical issues may arise in marketing research process (Table 1.2.).