1 MR 2014 Winter What Is MR

Lahore School of Economics
Winter 2014
MARKETING RESEARCH
Dr. Irfan Butt
Chapter 1
What is
Research?
process of collecting
and analyzing
information to
increase our
understanding of the
phenomenon under
study.
Examples
Social Sciences
Medical Sciences
Agriculture
What is Business
Research?
The systematic and

objective process of
gathering, recording,
and analyzing data
for aid in making
business decisions.
Examples
Operations
Human Resource
Information
Technology
What is Marketing
Research?
All the activities
that enable an organization

to obtain the information it
needs
to make decisions about its
environment,
marketing mix,
present & potential
customers
More specifically, MR is the

development,
interpretation, and
communication of
decision-oriented
information
to be used in
all
phases of the marketing

process
What is MR? (continued)
This definition has two important implications:

1.
Research plays a role in all three

phases of the marketing:
planning,
implementation, and
evaluation
2.
It recognizes the researchers

responsibility to go beyond collecting
data
to
developing information that will be

useful to managers
What is Marketing Process?
What is Marketing?
Model of the Marketing System
MR is the development,
interpretation, and
communication of
decision-oriented
information to be used
in all phases of the
marketing process
What could be some

examples of
Marketing Research?
What is the first thing a new

Chief Marketing Officer
needs to understand?
Marketing Strategy
Developing and implementing a

marketing strategy involves four stages:
1)
Identifying & evaluating market

opportunities
2)
Analyzing market segments, selecting

target markets, determining positioning
3)
Planning & implementing a marketing

mix
4)
Analyzing firm performance
How MR is related to Marketing

Strategy?
1. Identifying & Evaluating

Opportunities
Monitoring the competitive environment

for signals indicating a business
opportunity:
Helps managers recognize problems

& identify opportunities.
Identifies changes in customer

needs, uses, and demand for
products.
2. Analyzing & Selecting Target

Markets
Geo-demographics
Information describing the

demographic profile of
consumers in a particular
geographic region.
A firm can effectively
communicate with those
customers by choosing
media that reach that
particular profile.
Example:
2. Developing Positioning Strategy
Normally what is
positioning based on:
Product Attributes
relative to that of
competitors
3. Planning and Implementing a

Marketing Mix
Marketing research can be

used to support specific
decisions about aspects of
the marketing mix.
Types of Marketing Mix Research
Product Research
to evaluate and develop new

products and to learn how to
adapt existing product lines.
Concept testing
Product testing
Brand-name evaluation
Package testing
Pricing Research
Customer Value
Financial costs
Non-Financial costs
Distribution Research
Studies aimed at selecting

retail sites or warehouse
locations in support of the
distribution channel.
Promotion Research
Investigates the effectiveness of

advertising, premiums, coupons,
sampling, discounts, public
relations, and other sales
promotions.
Media research helps

businesses make decisions about
which media alternatives are best
Where the Marketing

Research Dollars are
Concentrated
Source: Inside Research, Where the Money Is, American Demographics (adage.com).
Should a company conduct

Marketing Research?
A company has to make a quick

decision about offering a
promotion in response to
competitor
A B2B stationary firm wants to

target small companies identified
by their yearly sales
A soap company would like to do
brand extension
Should a company conduct

Marketing Research?
A bottled water company wants to
change font on its label from Arial
to Arial Black.
A.C. Nielsen has quoted LSE 10
million for a research project to
identify what new undergraduate
majors should be offered by
business school.
When is Marketing Research

Needed?
The determination of the need for marketing

research centers on:
1. Time constraints
2. The availability of data
3. The nature of the decision to be made
4. Benefits 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?
Should We Conduct Marketing Research

N FACTOR
1 Time
CONDUCT MARKETING RESEARCH
Sufficient time is available

before decision is made
2 Data
Firm does not have access
Availabilit to data but can be obtained
y
3 Nature of Decision of considerable
Decision strategic and tactical
importance
4 Benefits Potential value of research
versus
exceeds cost of conducting
Cost
research
Should We Conduct Marketing Research

N FACTOR
1 Time
DO NOT CONDUCT MARKETING

RESEARCH
Time pressure requires a

decision before adequate
research can be completed.
2 Data
Firm has already relevant
Availabilit data or data cannot be
y
obtained.
3 Nature of Decision is not critical and
Decision involves relatively little risk.
4 Benefits Cost of research exceeds
versus
potential value of project.
Cost

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Lahore School of Economics

Dr. Irfan Butt

The systematic and

All the activities

that enable an organization

More specifically, MR is the

phases of the marketing

What is MR? (continued)

This definition has two important implications:

Research plays a role in all three

It recognizes the researchers

developing information that will be

What is Marketing Process?

What could be some

What is the first thing a new

Developing and implementing a

Identifying & evaluating market

Analyzing market segments, selecting

Planning & implementing a marketing

Analyzing firm performance

How MR is related to Marketing

1. Identifying & Evaluating

Monitoring the competitive environment

Helps managers recognize problems

Identifies changes in customer

2. Analyzing & Selecting Target

Information describing the

2. Developing Positioning Strategy

3. Planning and Implementing a

Marketing research can be

Types of Marketing Mix Research

to evaluate and develop new

Types of Marketing Mix Research

Types of Marketing Mix Research

Studies aimed at selecting

Types of Marketing Mix Research

Investigates the effectiveness of

Media research helps

Where the Marketing

Should a company conduct

A company has to make a quick

A B2B stationary firm wants to

Should a company conduct

When is Marketing Research

The determination of the need for marketing

marketing decision enough to warrant the

Should We Conduct Marketing Research

CONDUCT MARKETING RESEARCH

Sufficient time is available

Should We Conduct Marketing Research

DO NOT CONDUCT MARKETING

Time pressure requires a

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