Marketing Research

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Marketing Research

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links the organizations with its market environment

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Role of Marketing Research

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To provide accurate and useful information for marketing managers to make better and less risky decisions throughout the marketing management process

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Step 1

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Define the Problem
Set research objectives

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Step 2

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Analyze the situation
Determine specific info needed and choose the appropriate type of research

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Step 3

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Getting problem specific data
Determine data collecting methods and collect data

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Step 4

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Interpret the data
Converting information into analysis

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Step 5

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Solving the problem
Make decision recommendations

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Exploratory Research

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used to gain ideas and insights about the research problem

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Descriptive Research

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Used when research objectives and questions are clearly formulated and when descriptive and summary measures are needed to address the questions

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Experimental/Causal Research

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used to establish cause-and-effect relationships

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Sources of Data

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Primary data
secondary data

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MIS (Marketing Information System)

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organized way of continually gathering, accessing, and analyzing information that marketing managers need to make decisions

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Common Mistakes in Marketing Research

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Ignore costs of obtaining info
Wrong type of research
Sample not representative
Validity problems