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1、Chapter 1The Role of Marketing ResearchLEARNING OUTCOMESExplain why marketing research is essential to business successDefine marketing researchIdentify the difference between applied and basic researchExplain how marketing research is relevant to product, pricing, promotion, and distribution decisi
2、onsDiscuss how marketing research helps the firm develop and implement strategyIdentify the situations that call for market research and those that dontDescribe how technology and internationalization are affecting the way research is conducted and usedAfter studying this chapter, you should be able
3、 toThe Nature of Marketing ResearchUnderstanding the Value EquationCompanies must produce bundles of benefits that consumers will view as valuable.Key questions:What do we sell?How do consumers view our company?What does our company/product mean?What does our company/product mean?Marketing research
4、can help a company achieve the goal of creating valuable experiences for customers.The Nature of Marketing ResearchMarketing research is one of the principal tools for answering questions because it: Links the consumer, customer, and public to the market through information used to identify and defi
5、ne marketingGenerates, refines, and evaluates marketing actionsMonitors marketing performanceUnderlines the understanding of marketing as a processMarketing ResearchMarketing Research DefinedThe systematic and objective process of generating information for aid in making marketing decisions The proc
6、ess includes:Specifying what information is requiredDesigning the method for collecting informationManaging and implementing the collection of dataAnalyzing the resultsCommunicating the findings and their implicationsApplied and Basic Marketing ResearchApplied ResearchResearch conducted to address a
7、 specific marketing decision for a specific firm or organization. Basic ResearchResearch conducted without a specific decision in mind that usually does not address the needs of a specific organization.Attempts to expand the limits of marketing knowledge in generalIs not aimed at solving a pragmatic
8、 problem.Marketing Research ExamplesApplied Research:Should McDonalds add Italian pasta dinners to its menu?Basic Research:Do consumers experience cognitive dissonance in low-involvement situations?The Scientific MethodScientific MethodThe way researchers go about using knowledge and evidence to rea
9、ch objective conclusions about the real world.The analysis and interpretation of empirical evidence (facts from observation or experimentation) to confirm or disprove prior conceptionsEXHIBIT 1.1A Summary of the Scientific MethodAdopting the Marketing ConceptConsumer-OrientedLong-run ProfitabilityCr
10、oss- Functional EffortMarketing ConceptThe Marketing ConceptMarketing ConceptA central idea of marketing that involves focusing on how the firm provides value to customers more than on the physical product or production processCustomer-orienteddecisions are made with a conscious awareness of their e
11、ffect on the consumer.Emphasis on long-run profitability rather than short-term profits or sales volume.Cross-functional perspectivemarketing is integrated across other business functions.Business OrientationsProduct-oriented FirmA firm that prioritizes decision making in a way that emphasizes techn
12、ical superiority in the productProduction-oriented FirmA firm that prioritizes efficiency and effectiveness of the production processes in making decisionsEXHIBIT 1.2Business Marketing OrientationsEXHIBIT 1.3Long-Run ProfitabilityKeeping Customers and Building RelationshipsRelationship MarketingThe
13、idea that a major goal of marketing is to build long-term relationships with the customers contributing to their success.A sale not as the end of a process but is the start of the organizations relationship with a customermarketers want customers for life. Managing the relationships that will bring
14、about additional exchangessatisfied customers will return to a company that has treated them well.Marketing Research: A Means forImplementing the Marketing ConceptMarketing research can help:maximize customer satisfaction with purchaseidentity after-sale servicesprevent commercialization of products
15、 that are not consumer-orientedidentify optimal pricing to maximize profitabilityincrease sales efficiency through effective use of market data.The Managerial Value of Marketing Research for Strategic Decision MakingDeveloping and implementing a marketing strategy involves four stages:Identifying an
16、d evaluating market opportunitiesAnalyzing market segments and selecting target marketsPlanning and implementing a marketing mix that will provide value to customers and meet organizational objectivesAnalyzing firm performanceIdentifying and Evaluating OpportunitiesMonitoring the competitive environ
17、ment for signals indicating a business opportunity:Helps managers recognize problems and identify opportunities for enriching marketing effortsMotivates a firm to take action to address consumer desires in a way that is beneficial to both the customers and to the firm.Identifies changes in customer
18、needs, uses, and demand for products.Analyzing and Selecting Target MarketsGeo-DemographicsRefers to information describing the demographic profile of consumers in a particular geographic region.Once the company knows the geo-demographics of a market segment, it can effectively communicate with thos
19、e customers by choosing media that reach that particular profile.Example: Architectural Digest magazinePlanning and Implementing a Marketing MixMarketing research can be used to support specific decisions about aspects of the marketing mix.It is essential that an overall research plan involve all el
20、ements of marketing strategy.Types of Marketing Mix ResearchProduct ResearchAll applications of marketing research that seek to develop product attributes that will add value for consumers.Concept testingBrand-name evaluationPackage testingPricing ResearchInvolves finding the amount of monetary sacr
21、ifice that best represents the value customers perceive in a product after considering various market constraints.Types of Marketing Mix Research (contd)Distribution ResearchStudies aimed at selecting retail sites or warehouse locations in support of the distribution channel.Marketing ChannelA netwo
22、rk of interdependent institutions that perform the logistics necessary for consumption to occur.Supply ChainAnother term for a channel of distribution, meaning the link between suppliers and customers.Types of Marketing Mix Research (contd)Promotion ResearchInvestigates the effectiveness of advertis
23、ing, premiums, coupons, sampling, discounts, public relations, and other sales promotions.Media research helps businesses make decisions about which media alternatives are best suited to convey the intended message.Promotionthe communication function of the firm responsible for informing and persuad
24、ing buyers.The Integrated Marketing MixIntegrated Marketing Communication ConceptAll promotional efforts (advertising, public relations, personal selling, event marketing, and so forth) are coordinated to communicate a consistent image.Integrated Marketing MixResearch studies often investigate the e
25、ffects of various combinations of marketing mix elements on important outcomes like sales and image.Analyzing Marketing PerformanceTotal Value ManagementTrying to manage and monitor the entire process by which consumers receive benefits from a company.Performance Monitoring ResearchResearch that reg
26、ularly, sometimes routinely, provides feedback for evaluation and control of marketing activity.“What went right/wrong and why?Marketing MetricsQuantitative ways of monitoring and measuring marketing performance.When is Marketing Research Needed?The determination of the need for marketing research c
27、enters on:Time constraintsThe availability of dataThe nature of the decision to be madeBenefits versus costs (the value of the research information in relation to costs).Will the payoff or rate of return be worth the investment?Will the information improve the quality of the marketing decision enough to warrant the expenditure?Is the expenditure the best use of the available funds?EXHIBIT 1.4Determining When to Conduct Marketing ResearchMarketing Research in
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