Marketing Research

Aaker, Kumar, Day Seventh Edition Instructors Presentation Slides

Chapter One
A Decision-Making Perspective On Marketing Research

Marketing Research
Function of Marketing Research is to link an organization to its market through information Identify and define marketing opportunity and problems Generate, redefine and evaluate marketing actions

Monitor marketing performance

Improve understanding of marketing as a process
Marketing Research 7th Edition

Aaker, Kumar, Day

Role of Market Research

Specifies information required Designs method for collecting information

Manages and implements data collection process

Interprets results & communicates findings
Marketing Research 7th Edition

Aaker, Kumar, Day

Marketing Information System

A continuing and interacting structure of people, equipment and procedures designed to gather, sort, analyze, evaluate, and distribute pertinent, timely and accurate information to marketing decision making MIS Uses 3 Types of Information

Recurring market and accounting data from market analysis and accounting activities Intelligence relevant to future strategy of business Marketing research studies not of a recurring nature
Aaker, Kumar, Day

Marketing Research 7th Edition

Role of Marketing Research in Managerial Decision Making

Four Stages of Market Planning Process

Situation analysis Strategy development Marketing program development Implementation

Aaker, Kumar, Day

Marketing Research 7th Edition

Examples of Marketing Research

DaimlerChrysler~ find market potential for small cars
gateway Inc.~ help to configure its products and services to the needs of a particular ethnic group

Music Samplers on web buy CDs~ reveal facts contrary to popular beliefs
Marketing Research 7th Edition Aaker, Kumar, Day

What is Marketing Research? Examples

Gentleness
Tylenol

Pain Relievers (perceptual map)

Effectiveness
Bayer Private-label Anacin Aspirin

Advil Nuprin Excedrin

Marketing Research 7th Edition

Aaker, Kumar, Day

Minute Maid Quits Trying to Free OJ

Minute Maid attempted to market orange juice as more than a breakfast drink. They failed in their attempt, but succeeded in re-discovering their original market. With a renewed emphasis on marketing orange juice as a breakfast drink, sales have steadily risen. Who thinks they were right to try.
Marketing Research 7th Edition

Aaker, Kumar, Day

a. b.

Marketing Research 7th Edition

Aaker, Kumar, Day


(Customer Insight) Yahoo (MDS) User experience testYahoo 1.

.
Marketing Research 7th Edition Aaker, Kumar, Day

Situation Analysis
Strategy Development

Understand the environment and the market Identify threats and opportunities Assess the competitive position Define the business scope and served market segments Establish competitive advantages Set performance objectives. Product and channel decision Communication decisions Pricing Personal selling decisions Performance monitoring Refining strategies and program

Marketing Program Development

Implementation

Marketing Managerial Decision Making Aaker, Kumar, Day Marketing Research 7th Edition

Situation Analysis
Analysis of

Market environment

Market characteristics
Consumer behavior Organize information obtained from prior studies (secondary)

Research Approaches

Focus groups

Aaker, Kumar, Day

Marketing Research 7th Edition

Common Marketing Research Questions

Describing the general market:
How big is the existing market? How big is the potential market? How fast is the market growing? What are the buyers like? How brand loyal is the market? How and why do buyers use the product? What market segments exist? ...
Marketing Research 7th Edition Aaker, Kumar, Day

Common Marketing Research Questions

Describing an organizations market position: What market share does the company hold? How do buyers perceive your brand and competing brands? What is the repurchase rate for your brand and competing brands? How satisfied are customers with your brand? What are competitors marketing plans (product lines, prices, distribution, advertising, promotions, sales force)? ...
Marketing Research 7th Edition Aaker, Kumar, Day

Strategy Development
Market Research Provides Information to Assist Management With Three Critical Decisions

What business should we be in? How will we compete?

What are the objectives for the business?

Marketing Research 7th Edition

Aaker, Kumar, Day

Marketing Program Development

Programs embrace specific tasks Action program usually focuses on a single objective in support of one element of overall business strategy

Marketing Research 7th Edition

Aaker, Kumar, Day

Implementation
Starts with decision to proceed to a new program or strategy Commitment to objectives, budgets and timetables

Specific measurable objectives must be set for all elements of marketing program
"Did the elements achieve their objectives?"

Should the marketing program be continued, discontinued, revised or expanded?"

Marketing Research 7th Edition

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Factors Influencing Marketing Research Decisions

Relevance Type and Nature of Information Sought

Timing
Availability of Resources

Cost-benefit Analysis

Marketing Research 7th Edition

Aaker, Kumar, Day

Ethics in Marketing Research

Ethics of the Sponsor

Overt and covert purposes Dishonesty in dealing with suppliers

Misuse of research information

Violating client confidentiality

Ethics of the Supplier

Improper execution of research

Falsifying answers
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Respondents Abuse

Marketing Research 7th Edition