Session 5

Mission statementObjectivesStrategiesTacticsPrograms

Companies Need Information about:

Marketing Managers Don’t need More information, they need Better Information

•Customer Needs•Marketing Environment•Competition

Marketing Information System•Information needed by Managers can be obtained From:

Internal Data

Marketing Intelligence

Marketing Research

Electronic Collections From Data sources ( accounting )

Publicly Available Data about Competitors and Marketing Environment

Design, Collection, Analysis and Reporting of

data about a specific marketing situation

Marketing Research Process

•Defining the Objectives•Develop the research plan•Implementing the research plan•Reporting the findings

Defining the Problem and Research Objectives :

•Exploratory Research•Descriptive Research•Causal Research

Developing the Research Plan

Two Types Of Information

•Determining the Exact Information needed•Developing the plan for Gathering it•Presenting the Written Plan to management

•Secondary Data•Primary Data

Two Types Of Information•Secondary Data

•Primary Data• Focus groups: A focus group gathers a small group of people together for a discussion with an assigned leader.• Customer surveys( Existing customers, Potential customers )

• Trade associations• Government information( government reports, Small Business Administration, Statistics )• Educational resources • Chambers of Commerce • Market research firms

Developing Marketing Strategy