Marketing Research

Introduction
Marketing Research
The systematic design, collection, interpretation, and reporting of
information to help marketers solve specific marketing problems
or take advantage of marketing opportunities.

Marketresearch.com
The Nature of Marketing Research.

• Marketing 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 define marketing.

• Generates, refines, and evaluates marketing actions.

The 2 types of market research
All market research falls under two distinct categories:

Primary research looks at any data you collect yourself

(or someone you pay). It encompasses analyzing current
sales, metrics, and customers. It also takes into account
the effectiveness of current practices, while taking
competitors into account.

Secondary research looks at data that has already

been published by others. It includes reports and studies
from other companies, government organizations, and
others in your industry.
Uses of market research 

To monitor industry and economic trends and

use these results to develop strategies and adapt
your business to any the changing environment.

By monitoring the competitions ads, websites, and

social media campaigns you can see how they
attempt to capture some of your market share.
Uses of market research 

Market research can identify how customers and

potential customers might view your business and
identify gaps in customer expectations. This is
powerful information to have when completing
your marketing strategy.

Having good market intelligence helps to minimize

risks when making key business decisions.
Benefits of Marketing Research
• Facilitates strategic planning
• Assess opportunities/threats
• Ascertain potential for success
• Determine feasibility
The Marketing Research Process
Identifying Need
For Research = Problem

• Departure from normal function

• Typical problems requiring research
• Discover reasons for exceeding goals
• Identify/define opportunities or changes
Defining Problem
• Nature/scope of situation
• Clear definition of need
• Determine precisely what research is
to determine
• How will research be used?
Designing the Research Project
Research Design – an overall plan for
obtaining the information needed to address a
research problem or issue.
Hypothesis
An informed guess or assumption about a certain problem
or set of circumstances. A possible answer to the research
question.
Thank you!
Godbless everyone