Introduction of Marketing Research

Introduction to Marketing Research

“It ain’t the things we don’t know that gets us in trouble. It’s the things we know that ain’t so.”

Artemus Ward

What is Marketing Research?

• The systematic and objective process of generating information for aid in making marketing decisions

• The process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem (Burns & Bush)

• The function that links the consumer, customer and public to the marketer through information – information used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process (American Marketing Association)

The Marketing Research Process 11 Steps (Burns & Bush)

1. Establishing the Need for Marketing Research Marketing Research is not needed when: – required information is already available – decisions need to be made now – organization can’t afford the research – costs outweigh the value of the research 2. Defining the Problem The most important step in the process

3. Establishing Objective/s What are the purpose/s of the research

4. Determining Research Design

Exploratory Research: collecting information in an unstructured and informal manner Descriptive Research: refers to a set of methods and procedures describing marketing variables Causal Research (experiments and other approaches): allows isolation of causes and effects

The Marketing Research Process 11 Steps (Burns & Bush) contd.

5. Identifying Information Types and Sources Secondary Data: information that has been collected for some purpose other than the research at hand Primary Data: information that has been gathered specifically for the research objectives at hand

6. Determining Methods of Accessing Data Secondary Data: accessing data through sources such as the Internet and library Primary Data: collecting data from...