MM 01 Handout 5 Marketing Research
MM 01 Handout 5 Marketing Research
MM 01 Handout 5 Marketing Research
Handout 5
Research, Its importance to a
Business Enterprise and Identify the
Steps in Marketing Research
Principles of Marketing
Handout 5
Research, Its importance to a Business Enterprise and Identify the Steps in
Marketing Research
Marketing research is the function responsible for acquiring and evaluating market and
consumer-based information for decision making and the determination of marketing
strategic direction. It is primarily responsible for the gathering, analysis, and timely
distribution of information for the use of marketing decision makers.
General Objectives:
Pre- Test
Activity 1:
1. Caroline started doing her marketing research process by Identifying the problem
of poor marketing message penetration. What does Caroline need to articulate
next? Choose your answer below and Explain briefly
c. Conduct research
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Lesson Proper
MARKETING RESEARCH
Definition
Market research is the process of determining the viability of a new service or product
through research conducted directly with potential customers. Market research allows a
company to discover the target market and get opinions and other feedback from
consumers about their interest in the product or service.
Although marketing research can be costly, it is indispensable. The following are some
of the issues that can be addressed by marketing research:
Marketing research can and should be used for various reasons. Marketing research
can be used to identify marketing opportunities and problems, generate and evaluate
potential marketing actions or plans, monitor marketing performance and improve
marketing as a process. But, how does one carry out marketing research? I delved into the
Marketing Research textbook by Alvin C. Burns and Ronald F. Bush for the answers.
Here are the 11 steps to conducting marketing research, but note that not all
marketing research follows these steps.
9. Collecting data
Non-sampling errors in data are likely to occur and researchers need to know the
sources of these errors to implement controls to minimize them.
Marketing research reports include a lot of information that can aid organizations in
making effective marketing decisions, rather than resorting to unsupported “gut
feel”decisions.
Some examples of reports and the marketing decisions they can support are:
External factors research- The information from these researches helps marketers
identify macro-environmental shifts. These are bases in pinpointing opportunities
and anticipating threats.
Test marketing- Based on test marketing results, the company shall gauge the
acceptability of a proposed product/service. The company can, have the opportunity
to re-calibrate elements in the marketing mix and to measure their effects on
consumer demand and overall satisfaction. Its finding can result in the
discontinuance of a proposed product/service if results indicate a general lack of
interest.
Target market studies- These help identify, quantify, and understand the target
market better. Companies may decide to redefine its target market by including
characteristics the market should possess
Concept, product development, and product studies- Using the results generated
by concept, product development, and product studies, marketing organizations
shall select the proposed product/service concepts that have the highest level of
market acceptance. It can also be used to decide on the packaging, to determine the
market acceptance. It can also be used to decide on the packaging, to determine the
market reaction, and to justify brand positioning.
Location studies- Location studies determine ideal retail store locations and is a
valuable tool in site selection.
Advertising pre- and post-testing- These tests can determine advertising copy
effectiveness, advertising recall, sales promotion response rates, outdoor advertising
traffic results, and the effectiveness of public relations media placement. A
product’s/service’s advertising theme or message and the mechanics of consumer
sales promotions can be adjusted based on these results.
Usage,attitude, and image studies- These studies can provide cost- effective ways
on how to increase a product’s/ service’s awareness level and brand trial. In
addition, the results can reveal product usage and allow the company to develop
strategies to increase usage frequency. The effectiveness of current distribution
outlets can be ascertained. This can help in determining if distribution outlets can
be ascertained. This can help in determining if distribution should be expanded or
alternate distribution outlets should be developed. Finally, product/service
purchase drivers can be quantified to calibrate its value offer effectively
Name: _________________________________________________________________
Activity 1:
2. Caroline started doing her marketing research process by Identifying the problem
of poor marketing message penetration. What does Caroline need to articulate
next? Choose your answer below and Explain briefly
d. Develop the research plan
f. Conduct research
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2. Research objectives tell the researcher exactly what information needs to be gathered
and analyzed to allow managers to make decisions related to a problem. They need
to be clear and measurable.
Directions: Write TRUE if the sentence is correct and right FALSE is not correct.
1. Using IBM or SPSS, data analysis is to use statistical tools to present data in a form
that full fills the research objectives - 1. Establish the need for Marketing Research
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3. Define a Problem Statement that summarize the problem briefly - 6. Determine
Methods of Accessing Data
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Activity 4: Reflection:
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Directions: You may look for a newspaper articles pertaining to an actual marketing
research done in the Philippines. Paste the articles inside the box and answer the following
questions below.
1. What was their research about?
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2. Why was this marketing research made? What were its goals and objectives?
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4. Do you think their research was successful based on how they achieved their goals
and objectives? Explain shortly
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