MKT 343 EXAM 1 –STUDY GUIDE
The role of marketing research
The systematic and objective identification, collection, analysis, dissemination, and use
of information for the purpose of improving decision-making related to the identification
and solution of problems and opportunities in marketing.
Marketing Research does.... ?
- specifies information to address issues.
- Manages and implements the data collection process
- Analyzes the results
- communicate findings and their implications
- helps managers use this info to make decisions.
2 classifications of marketing research
1. Problem Identification Research
2. Problem Solving Research
Problem Identification Research
research undertaken to help identify problems which are not necessarily apparent on
the surface and yet exist or that are likely to arise in the future.
Problem Solving Research
research undertaken to help solve specific marketing problems
Problem Solving Research includes:
- Segmentation Research
- Product Research
- Pricing Research
- Promotional Research
- Distribution Research
Segmentation Research
- determine the basis of segmentation.
- select target markets
- create lifestyle profiles: demography, media, and product image characteristics
,Product Research
- determine the optimal product design
- package tests
- product modification
- brand positioning
- test marketing
Promotional Research
- optimal promotional budget
- sales promotion relationship
- optimal promotional mix
- media decisions
- evaluation of advertising
Pricing Research
- pricing policies
- product line pricing
- price elasticity of demand
- initiating and responding to price changes
Distribution Research
- types of distribution
- attitudes of channel members
- intensity of wholesale and resale coverage
- location of retail and wholesale outlets
The Marketing Research Process
1. identification of the problem and statement of the research objectives
2. creation of the research design
3. choice of method of research
4. selection of the sampling procedure
5. collection of the data
6. analysis of the data
7. writing and presentation of the report
8. follow-up
The Problem Definition Process
- Tasks Involved
- Environmental context of the problem
- Step 1: Problem Definition
- Step 2: Approach the Problem
, Tasks Involved (The Problem Definition Process)
discussions with decision makers, interviews with industry experts, secondary data
analysis, qualitative research
Environmental context of the problem
- Past information and forecasts
- Resources and Constraints
- Objectives
- Buyer Behavior
- Legal Environment
- Economic Environment
- Marketing and technological skills
Problem Definition includes...?
- Managament Decision Problem
- Marketing Research Problem
Management Decision Problem
The problem confronting the decision maker. It asks what the decision-maker needs to
do. (action-oriented)
Marketing Research Problem
A problem that entails determining what information is needed and how it can be
obtained in the most feasible way. (information-oriented)
Approach to the problem (The Problem Definition Process)
1. Objective/Theoretical Foundations
2. Analytical Model
3. Research Questions
4. Hypothesis
5. Specification of Info needed
The role of marketing research
The systematic and objective identification, collection, analysis, dissemination, and use
of information for the purpose of improving decision-making related to the identification
and solution of problems and opportunities in marketing.
Marketing Research does.... ?
- specifies information to address issues.
- Manages and implements the data collection process
- Analyzes the results
- communicate findings and their implications
- helps managers use this info to make decisions.
2 classifications of marketing research
1. Problem Identification Research
2. Problem Solving Research
Problem Identification Research
research undertaken to help identify problems which are not necessarily apparent on
the surface and yet exist or that are likely to arise in the future.
Problem Solving Research
research undertaken to help solve specific marketing problems
Problem Solving Research includes:
- Segmentation Research
- Product Research
- Pricing Research
- Promotional Research
- Distribution Research
Segmentation Research
- determine the basis of segmentation.
- select target markets
- create lifestyle profiles: demography, media, and product image characteristics
,Product Research
- determine the optimal product design
- package tests
- product modification
- brand positioning
- test marketing
Promotional Research
- optimal promotional budget
- sales promotion relationship
- optimal promotional mix
- media decisions
- evaluation of advertising
Pricing Research
- pricing policies
- product line pricing
- price elasticity of demand
- initiating and responding to price changes
Distribution Research
- types of distribution
- attitudes of channel members
- intensity of wholesale and resale coverage
- location of retail and wholesale outlets
The Marketing Research Process
1. identification of the problem and statement of the research objectives
2. creation of the research design
3. choice of method of research
4. selection of the sampling procedure
5. collection of the data
6. analysis of the data
7. writing and presentation of the report
8. follow-up
The Problem Definition Process
- Tasks Involved
- Environmental context of the problem
- Step 1: Problem Definition
- Step 2: Approach the Problem
, Tasks Involved (The Problem Definition Process)
discussions with decision makers, interviews with industry experts, secondary data
analysis, qualitative research
Environmental context of the problem
- Past information and forecasts
- Resources and Constraints
- Objectives
- Buyer Behavior
- Legal Environment
- Economic Environment
- Marketing and technological skills
Problem Definition includes...?
- Managament Decision Problem
- Marketing Research Problem
Management Decision Problem
The problem confronting the decision maker. It asks what the decision-maker needs to
do. (action-oriented)
Marketing Research Problem
A problem that entails determining what information is needed and how it can be
obtained in the most feasible way. (information-oriented)
Approach to the problem (The Problem Definition Process)
1. Objective/Theoretical Foundations
2. Analytical Model
3. Research Questions
4. Hypothesis
5. Specification of Info needed
