marketing research. what is it? systematic gathering, recording, and analyzing of information about...
TRANSCRIPT
Marketing Research
What is it?Systematic gathering, recording, and analyzing of information about problems/questions related to marketing goods and services.
Four General Types of Marketing Research
Advertising ResearchProduct ResearchMarket ResearchSales Research
Advertising ResearchFocuses on advertising messageFocuses on form of media
◦TV◦Billboard◦Magazine
Consumer feedbackFocus groups
Product Research
Evaluating product design & acceptance
Example:◦Movie “Big”
Tom Hanks – occupation was primarily testing products
Market Research
Focus on customer and marketUsed to gather informationStudy consumers attitudes
Sales Research
Study of sales dataGoal is determine potential sales
for a productSolve problems
related to future sales
Marketing Research LimitationsLack of time to researchNo guarantee consumers will buy
a product◦Ex: Costco – sampling free food
Customer buying habits change