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Module 4 - Marketing Research

Marketing research is conducted to understand what consumers want, develop products for target markets, and maintain a competitive advantage. It involves determining the viability of new products or services through primary research with customers and secondary research. Market research can be conducted in-house or by third parties, and uses both quantitative and qualitative methods like surveys, product testing, and focus groups to gather information. The applications of market research include understanding the marketing environment, sales, products, advertising, distribution, pricing, and consumers.

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Bhaskar Sailesh
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195 views10 pages

Module 4 - Marketing Research

Marketing research is conducted to understand what consumers want, develop products for target markets, and maintain a competitive advantage. It involves determining the viability of new products or services through primary research with customers and secondary research. Market research can be conducted in-house or by third parties, and uses both quantitative and qualitative methods like surveys, product testing, and focus groups to gather information. The applications of market research include understanding the marketing environment, sales, products, advertising, distribution, pricing, and consumers.

Uploaded by

Bhaskar Sailesh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Module 4

Marketing Research
Marketing Research

What Consumers want

Market research is a Developing Products that


critical tool in helping those consumers will use
companies understand
Maintain a competitive
advantage over their
competitors
Marketing Research
Meaning and Definition

Market research is the process of determining the viability of


a new service or product through research conducted
directly with potential customers.

It allows a company to

Get opinions and feedback


Discover the target market via
about the product or the
segmentation and targeting
service offered

Analyze their competitors offering


similar product or service
Marketing Research
Meaning and Definition

Market research can Market research can


be conducted be done through
In-house Surveys
By the company itself Product testing
By a third-party Focus groups
company
Marketing Research
Types of Marketing Research

Quantitative Research Qualitative Research

 Looks to quantify a problem Exploratory in nature

Collects data through Usually uses data


surveys collection methods
Marketing Research
Types of Marketing Research

Market Segmentation
Product Testing
Advertise Testing
Satisfaction and Loyalty Analysis
Brand Awareness and Reach
Pricing Research
Marketing Research
Gathering Market Information

Market research consists of a combination of

Primary information Secondary information

Information gathered by Information already gathered in


the company or by a person the past which is used for an
hired by the company. ongoing research
Marketing Research
Gathering Market Information

Market research consists of a combination of

Primary information Secondary information

Face-to-Face Interviews Journals


Phone Research Magazines
Online Market Research Annual Reports
Expert Opinions Past experiences
Focus Groups infographics
Applications of Market Research
Applications
of Marketing
Marketing Research
Environme
nt Research

Sales Product
Research Research

Advertisin
Market
g
Research
Research

Distributi
Consumer
on
Research
Pricing Research
Research

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