for mgt.314

1. Marketing Research Presented by: Dennis Ortega Sheryl Arambala Lauren Kate Salvador Robert Patrick Lee

2. Definition -is the process of collecting and using information for marketing decision making. - It aids decision makers by presenting pertinent data that transforms it into useful information and suggesting possible actions.

4. Marketing Research Suppliers Syndicated Services- an organization that provides a standardized set of data to all customers. Full-Service Research Suppliers- an organization that contracts with clients to conduct complete marketing research projects. Limited-Service Research Suppliers- a marketing research firm that specializes in a limited number of activities.

5. Marketing Research Activities Scanning Activities - search for opportunities and challenges in the firm’s environment Risk Assessment - helps the firm to measure the cost and benefits of a particular course of action. c. Monitoring - these includes analyzing sales and profit data, customer satisfaction levels and results from advertising and promotion programs. - defined as diagnostic tools

6. Marketing Research Process Defining the Problem - well defined questions - avoid confusing symptoms of a problem with the problem itself Conducting Exploratory Research - seeks to discover the cause of a specific problem - usually includes evaluation of company records, such as sales and profit analysis and data about the sales and profits of competitor’s products

7. Using Internal Data Sales Analysis - compares actual and expected sales based on a detailed sales forecast by territory, product, customer, and salesperson. Ratio Analysis – compares performance in current and previous years against industry benchmarks. Marketing Cost Analysis – evaluation of expenses for tasks like selling, warehousing, advertising and delivery in order to determine the profitability of particular customers, territories and product lines.

8. Formulating a Hypothesis - a tentative explanation for some specific event - a statement about the relationship among variables that carries clear implications for testing this relationship Creating a Research Design - a series of decisions that taken together comprise a master plan or model for conducting marketing research - selection of respondents

9. Collecting Data - Primary – refers to data collected for the first time especially for marketing research study. - Secondary – is data from previously published or compiled sources. Advantages: - it is almost always less expensive to gather. - researchers usually must spend less time to locate and use secondary data.

10. Interpreting and Presenting the Research Information - interpret the findings and present the research information in a format that allows them to make effective judgments - conclusions must be clear, concise and actionable terms - should outline technical details of the research methods in an appendix Marketing Researcher’s Knowledge and Experience Research User’s Knowledge and Experience Areas of Mutual Understanding

12. Private Data

13. Online Sources Data

15. Stratified Samples

19. Thank You! GOD BLESS YOU