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MKT 415 Chapter 1 Intro to Marketing Research Complete Guide

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MKT 415 Chapter 1 Intro to Marketing Research Complete Guide marketing research ️the systematic and objective identification, collection, analysis, dissemination, and use of information that is undertaken to improve decision making related to identifying and solving problems (also known as ...

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  • September 27, 2024
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MKT 415 Chapter 1 Intro to Marketing Research Complete Guide
marketing research ✔️the systematic and objective identification, collection, analysis, dissemination,
and use of information that is undertaken to improve decision making related to identifying and solving
problems (also known as opportunities) in marketing



marketing research is systematic ✔️meaning that it follows a predictable path



Interactive Marketing Research Organization ✔️a worldwide association of researchers formed in 2000,
dedicated to providing an open forum for the discussion of best practices and ethical approaches to
research being conducted via the Internet



problem-identification research ✔️undertaken to help identify problems that are not necessarily
apparent or that are likely to arise in the future; can be designed to analyze market potential, market
share, brand or company image, market characteristics, and sales, short-range forecasting, long-range
forecasting, and uncovering business trends



problem identification ✔️is the more common of the two forms of research and is undertaken by
virtually all marketing firms; is used to access the environment and diagnose problems



problem-solving research ✔️undertaken to help solve specific marketing problems; addresses many
topics, including market segmentation and product, pricing, promotion, and distribution



segmentation research ✔️-determine the basis of segmentation

-establish market potential and responsiveness for various segments

-select target markets

-create lifestyle profiles:demography, media, and product image characteristics



product research ✔️-test concept

-determine optimal product design

-package tests

-product modification

, -brand positioning and repositioning

-test marketing

-control score tests



pricing research ✔️-pricing policies

-importance of price in brand selection

-product line pricing

-price elasticity of demand

-initiating and responding to price changes



promotional research ✔️-optimal promotional budget

-sales promotion relationship

-optimal promotional mix

-copy decisions

-media decisions

-creative advertising testing

-evaluation of advertising effectiveness

-claim substantiation



distribution research ✔️-determine types of distribution

-determine attitudes of channel members

-determine intensity of wholesale & resale coverage

-determine channel margins

-determine location of retail and wholesale outlets



marketing research process ✔️a set of six steps that defines the tasks to be accomplished in conducting
a marketing research study, problem definition, developing an approach to the problem, research
design, formulation, fieldwork, data preparation and analysis, and report preparation and presentation

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