Marketing

- It refers to the activities a company

undertakes to promote the buying or selling of
its products or services. Marketing includes
advertising and allows businesses to sell
products and services to consumers, other
businesses, and organizations.
2 Types of Marketing
- 1. Traditional Marketing

- 2. Digital Marketing
- What is the main
Purpose of Marketing?
Sales Funnel
- it guides potential customers through a series of
s t a g e s : a w a r e n e s s , i n t e r e s t , e va l u a t i o n ,
negotiation, closing, and renewal. These stages
help you filter out unqualified leads and focus on
nurturing and converting qualified prospects into
paying customers.
The Marketing Concept for
Entrepreneurs:
7 P’s in Marketing

1. Price - is the quantity of payment or

compensation expected, required, or given by one
party to another in return for goods or services

2.People - it refers to employees who work for your

business. Your people are the face of your brand.
 The Marketing Concept for
Entrepreneurs:
3. Place - This is where your products and services are
seen, made, sold or distributed.

4.Product - This might refer to a physical product or a

service.

5.Promotion - The way you promote your product will

have a direct impact on the success of your brand.
 The Marketing Concept for
Entrepreneurs:

6. Process - it refers to the processes involved in

delivering your product or service to customers.

7.Physical Evidence is everything your customers see

when interacting with your business.
Research
- is a process of systematic inquiry that entails
collection of data; documentation of critical
information; and analysis and interpretation of that
data/information, in accordance with suitable
methodologies set by specific professional fields and
academic disciplines.
Marketing Research
- A systematic design, collection, analysis, and
reporting of data and findings relevant to the
company's specific marketing situation.
- The process of designing, gathering,
analyzing, and reporting information that
may be used to solve a specific marketing
problem.
Purpose of Marketing Research
1. Gain a more detailed understanding of
consumer’s needs:
-e.g: Views on products, prices, packaging, recent
advertising campaigns.
2. Reduce the risk of product/business failure:
-There is no guarantee that any new idea will be a
commercial success.
-Can help to achieve commercial success
3. Forecast future trend:
-It can also be used to anticipate future customer needs.
CHARACTERISTICS OF GOOD RESEARCH
1. Empirical Research is based on
direct experience or observation by
the researcher. The collection of
data relies on practical experience
without benefit of the scientific
knowledge or theory.
CHARACTERISTICS OF GOOD RESEARCH
2.Logical Research is based on valid procedures
and principles. Scientific investigation is done in
an orderly manner so that the researcher has
confidence on the result. Logical examination of
the procedures used in the research enables the
researcher to draw valid conclusions. Thus, the
logic of valid research makes it important for
decision making.
CHARACTERISTICS OF GOOD RESEARCH
3.Cyclical Research is a cyclical process. It
starts with a problem and ends with a problem.
For instance, a researcher who completes his
study states his findings and draws up his
conclusions and recommendations. In his
recommendations, many problems may crop up
as other subjects for study hence, the cycle is
repeated.
CHARACTERISTICS OF GOOD RESEARCH
4.Analytical Research utilizes proven analytical
procedures in gathering the data, whether
historical, descriptive, experimental or case study.
In historical research, the data gathered focus on
the past; in descriptive research, the focuses on
the present situation; experimental, future, and in
case study, past present and future.
CHARACTERISTICS OF GOOD RESEARCH
5.Replicability the research designs and
procedures are replicated to enable the
researcher to arrive at valid and conclusive results.
Similarities and differences of replicated
researches can be compared. The more
replications of researches, the more valid and
conclusive the results would be.
CHARACTERISTICS OF GOOD RESEARCH
6.Critical Research exhibits careful and
precise judgement. A higher level of
confidence must be established. Whether the
results are significant or insignificant or
whether to reject or accept the hypothesis.
CHARACTERISTICS OF GOOD RESEARCH
6.Critical Research exhibits careful and
precise judgement. A higher level of
confidence must be established. Whether the
results are significant or insignificant or
whether to reject or accept the hypothesis.
TYPES OF MARKETING RESEARCH:
Marketing Research techniques come in many forms
including:
1. Add Tracking – periodic or continuous in-market
research to monitor a brand’s performance using
measures such as brand awareness, brand preference,
and product usage
2. Advertising Research – used to predict copy testing or
track the efficacy of advertisements for any medium,
measured by the ad’s ability to get attention,
communicate the message, build the brand’s image, and
motivate the the consumer to purchase the product or
service.
TYPES OF MARKETING RESEARCH:
Marketing Research techniques come in many forms
including:
3. Brand Equity Research – how favorably do consumers
do the brand?
4. Brand Attribute Research – what are the key traits that
describe the brand promise?
5. Brand Name Testing – what do consumers feel about
the name of the products?
6. Commercial Eye Tracking Research – Examine
advertisements, package designs, websites, etc. by analyzing
visual behavior of the consumer.
TYPES OF MARKETING RESEARCH:
Marketing Research techniques come in many
forms including:
7. Concept Testing – to test the acceptance of a
concept by target consumers.
8. Cool Hunting – to make observations and predictions
in changes of new or existing cultural trends in areas
such as fashion, music, films, television, youth culture,
and lifestyle.
9. Buyer decision-making process research – to
determine what motivates people to buy and what
decision-making process they used (Neuromarketing)
TYPES OF MARKETING RESEARCH:
Marketing Research techniques come in many
forms including:
8. Customer Satisfaction Research – quantitative or
qualitative studies that yield an understanding of a
customer’s satisfaction with a transaction.
9. Demand Estimation – to determine the approximate
level of demand for the product.
10. Distribution Channel Audits – to assess
distributors’ and retailers’ attitudes toward a product,
brand, or company.
TYPES OF MARKETING RESEARCH:
Marketing Research techniques come in many
forms including:
11. Internet Strategic Intelligence – searching for
customer opinions on the internet: Chats, Web pages,
forums, and blogs….where people express freely their
experiences with the product.
12. Mystery Customer or Mystery Shopping – an
employee or representative of the market research firm
anonymously contacts a salesperson and indicates he or
she is shopping for the product.
TYPES OF MARKETING RESEARCH:
Marketing Research techniques come in many
forms including:
13. Positioning Research – how does the target
market see the brand relative to competitors? -what
does the brand stand for?
14. Sales Forecasting – to determine the expected
level of sales given the level of demand.
15. Segmentation Research – to determine the
demographic, psychographic, and behavioral
characteristics of potential buyer.
MARKETING RESEARCH METHOD
Methodologically, marketing research uses the following types of
research designs:
1. Based on questioning:
Qualitative Marketing Research – is all about
understanding people’s beliefs and points of view of what
they feel about the situation and what are the deciding
factors that influence their behavior.
Quantitative Marketing Research - is frequently
gathered using questionnaires and surveys. Close-ended
questions are commonly used in quantitative data
collection methods to draw inferences.
 MARKETING RESEARCH METHOD
Methodologically, marketing research uses the following types of research
designs:
1. Based on observations:
Ethnographic Studies - a qualitative research method involving the
systematic study of people in their natural environment to understand
their way of life, including how they see and interact with the world
around them. An ethnography study aims to produce a rich,
comprehensive account of a social setting from the participant’s point of
view.
Experimental Techniques - a type of research procedure that involves
manipulating variables to determine if there is a cause-and-effect
relationship. The results obtained through the experimental method are
useful but do not prove with 100% certainty that a singular cause always
creates a specific effect
CLASSIFICATION OF MARKET RESEARCH
Methodologically, marketing research uses the following types of
research designs:
1. Problem-Identification Problem – research was
undertaken to help identify problems that are not necessarily
apparent on the surface and yet exist or are likely to arise in
the future. E.g: Forecasting, trends research
2. Problem-Solving Research – research undertaken to help
solve specific marketing problems.
PROBLEM-SOLVING RESEARCH
1. Segmentation Research: This is not designed to shape the
market. Rather, it reveals underlying divisions in the market
and characteristics of the market.

-Determine the basis of segmentation

-Establish market potential and responsiveness for various
segments
-Select target markets
-Create lifestyle profiles:
demography, media, and product characteristics
PROBLEM-SOLVING RESEARCH
2. Product Research: any research you conduct to better inform
your product and understand your users and market. Unlike
user research, product research goes beyond evaluating the
user experience and includes market analysis, pricing, feature
prioritization, and assessing business viability.
-Test Concept
-Determine Optimal Product Design
-Package Test
-Test Marketing
-Brand Positioning and repositioning
PROBLEM-SOLVING RESEARCH
3. Promotional Research: it involves studying and analyzing
various promotional strategies and their effectiveness in
achieving marketing objectives. This type of research is crucial
for businesses to understand which promotional tactics are most
successful in reaching their target audience, driving sales, and
enhancing brand awareness.
-Audience Analysis
-Promotional Channels
-Return on Investment
-Competitive Analysis
PROBLEM-SOLVING RESEARCH
4. Pricing Research: a systematic investigation into determining
the most appropriate pricing strategy for a product or service. It
involves analyzing various factors such as costs, competitor
pricing, consumer behavior, and market demand to set prices
that maximize profitability while remaining competitive and
attractive to customers. Here's an overview of what pricing
research typically involves:
-Cost Analysis -Conjoint Analysis
-Competitor Analysis -Profitability Analysis
-Price Elasticity Testing -Psychological Pricing
PROBLEM-SOLVING RESEARCH
5. Distribution Research: involves studying the various
channels and methods through which products or services are
made available to consumers. It encompasses analyzing
different aspects of distribution such as logistics, supply chain
management, channel selection, and retailing strategies.
-Channel Analysis
-Market Coverage
-Channel Performance Evaluation
-Consumer Behavior Analysis
-Emerging Distribution Trends
Terms to Remember:
1.Causal Research – marketing research to test
hypothesis about cause and effect relationship
2.Descriptive Research – marketing research to better
describe marketing problems, situations or markets such
as the market potential for a product, or the
demographics and attitudes of customers.
3.Experimental Research – marketing gathering of
primary data by selecting matched groups of subjects,
giving them different treatment, controlling relates
factors and checking for differences in group responses.
Terms to Remember:
4.Exploratory Research – research to gather
preliminary information that will help better define
problems and suggest hypothesis.
5.Focus Group Interviewing – personal interviewing
that consists of inviting 6 to 10 people to gather for a
few hours with a trained interviewer to talk about a
product, service or organization. (Focuses on important
issues)
6.Marketing Intelligence – everyday information
about developments in the market that helps managers
prepare and adjust marketing plan.
Terms to Remember:
7.Observational Research – the gathering of the primary
data by observing relevant people, actions and situations.
8.Primary Data- information collected for the specific purpose
at hand.
9.Secondary Data – information that already exists,
somewhere, having been collected for another purpose.
10.Sample – a segment of the population selected for
marketing research to present the population as a whole.
11.Survey Research – the gathering of primary data by
asking people questions about knowledge, attitudes,
preferences, and buying behavior.