RESEARCH TYPES

#MKT2202
UNDERSTANDING MARKET RESEARCH
LET’S LEARN
ABOUT EACH
OTHER
INTRODUCTIONS
LET’S LEARN
ABOUT THE
LECTURER
INTRODUCTIONS
BUSINESS IS A GAME
MARKETING RESEARCH
IS THE TIP BOOKLET
MARKETING RESEARCH
HELPS YOU TO FIGURE
OUT HOW YOU CAN WIN
MARKET RESEARCH vs. MARKETING
RESEARCH

The 1 P vs the 4 P’s

- What are the 4 P’s?
- Which type of research utilises the 1 and which utilises all 4?
- Which is the 1 P?

(Price, Place, Product, Promotion, People, Process, Physical evidence) - 7 Ps in all

 MARKETING RESEARCH ANSWERS THE KEY
QUESTIONS

MARKET RESEARCH ANSWERS THE FIVE KEY QUESTIONS:

WHO

WHY

WHERE

WHAT

WHEN

Who - is the customer ….understanding the customer is key to developing marketing strategies
Why - why do they want or need the product or service - why they buy when, how or where they buy?
Where - where is the physical geographic location of your target audience? Where do they most likely shop (specific stores, online, etc)
What - what are customer preferences? What they like or dislike? What drives their decisions
When - purchasing patterns or timelines?
MARKETING RESEARCH - A NEW PERSPECTIVE
PSP
PROBLEM

SOLUTION

PRESENT
WE ARE PROBLEM
SOLVERS
HISTORY OF
MARKETING
RESEARCH

Marketing Research: tools and techniques

Nigel Bradley
DEFINING
MARKETING
RESEARCH
 Applied and Basic Marketing Research and
the Scientific Method

❏ Applied - To inform a specific business decision

❏ Basic - General marketing knowledge expansion

❏ Scientific Method

Applied marketing research - Research conducted to address a specific marketing decision for a specific firm or organization.

Basic Method -Research conducted without a specific decision in mind that usually does not address the needs of a specific organization. It attempts to expand the limits of marketing knowledge in
general and is not aimed at solving a particular pragmatic problem.

Scientific method - The way researchers go about using knowledge and evidence to reach objective conclusions about the real world. Uses a scientific method just as you would use in physics. So
first you have prior Knowledge/Theory of something or you come up with an idea or discover something. Then you crate research Questions/Hypotheses, then you test the Hypotheses, and finally
you end up with a conclusion, which in turn provides you with new knowledge or theories and the cycle continues,.
MARKETING ORIENTATIONS
THERE ARE FIVE MARKETING ORIENTATIONS:

PRODUCTION CONCEPT - Production orientation means that the firm prioritizes efficiency and
effectiveness of the production processes in making decisions.

PRODUCT CONCEPT - A product-oriented firm prioritizes decision making in a way that emphasizes
technical superiority of their offerings.

CUSTOMER CONCEPT - Describes a firm in which all decisions are made with a conscious awareness of
their effect on the consumer.

MARKETING CONCEPT - Describes a firm in which all decisions are made with a conscious awareness
of their effect on the consumer.

STAKEHOLDER CONCEPT - The corporate culture existing for firms adopting the marketing concept. It
emphasizes customer orientation, long-term profitability over short-term profits, and a cross-functional
perspective.
MARKETING CONCEPT

A central idea in modern marketing thinking that focuses on how the firm provides value to customers more
than on the physical product or production process.

THE VALUE CHAIN and added value - a more external focus - strategic selling it goes hand in hand with the
marketing orientation.
 HOW CAN MARKETING
RESEARCH BENEFIT US
PRESENT DAY

It is a way to implement the marketing concept

- The cheat code
- How we answer all the marketing questions, pre-empt customer needs and
- Make INFORMED strategic decisions for the business - Marketing research goes hand in hand with Strategic
marketing management
THE ROLE OF MARKETING RESEARCH IN
MARKET STRATEGY DEVELOPMENT &
IMPLEMENTATION
● Identifying and evaluating market opportunities.

● Analyzing market segments and selecting target markets.

● Planning and implementing a marketing mix that will provide value to customers and meet

organizational objectives.

● Analyzing firm performance.

LINKEDIN - Follow in her footsteps

Roger Horberry (2023) The power of truth: 7 killer ad campaigns driven by consumer insights, GWI. Available at:
https://blog.gwi.com/marketing/powerful-consumer-insights/.
KFC - Love at first bite

Roger Horberry (2023) The power of truth: 7 killer ad campaigns driven by consumer insights, GWI. Available at:
https://blog.gwi.com/marketing/powerful-consumer-insights/.
NEXT CLASS
TYPES OF RESEARCH USED IN MARKETING

STAGES IN THE MARKETING RESEARCH PROCESS