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CH 01

The document discusses the role of marketing research in management decision making. It defines marketing research and explains its importance in understanding customers, the market environment, and shaping marketing decisions. The document also covers when marketing research should and should not be conducted and how the internet is changing the field.

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Naol junier
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49 views17 pages

CH 01

The document discusses the role of marketing research in management decision making. It defines marketing research and explains its importance in understanding customers, the market environment, and shaping marketing decisions. The document also covers when marketing research should and should not be conducted and how the internet is changing the field.

Uploaded by

Naol junier
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 17

The Role of

Marketing Research
in Management
Decision Making

Chapter
One Copyright © 2006
John Wiley & Sons, Inc.
Learning Objectives

1. To review the marketing concept and the


marketing mix
2. To comprehend the marketing environment
within which managers must make decisions
3. To define marketing research
4. To understand the importance of marketing
research in shaping marketing decisions

John Willey & Son, Inc 2


Learning Objectives

5. To learn when marketing research should and


should not be conducted
6. To learn how the Internet is changing
marketing research
7. To understand the history of marketing
research

John Willey & Son, Inc 3


Nature of Marketing To review the marketing
concept
and the marketing mix.

• Marketing
– The process of planning and executing the
conception, pricing promotion, and distribution
of ideas, goods, and services to create exchanges
that satisfy individual and organization objectives
• Marketing Concept
1. Consumer Orientation
2. Goal Orientation
3. Systems Orientation

John Willey & Son, Inc 4


Nature of Marketing To review the marketing
concept
and the marketing mix.

• Opportunistic Nature of Marketing Research


– Identify the target
– Marketing mix
• The External Marketing Environment
– Marketing research is the key to understanding
the environment
– Provides information for altering marketing
mix
– Identifies new opportunities

John Willey & Son, Inc 5


Marketing Research
To define marketing research.
and Decision Making

• Marketing Research Defined


– The planning, collection, and analysis of data
relevant to market decision making and
communication of the results of this analysis to
management.

John Willey & Son, Inc 6


Marketing Research
To define marketing research.
and Decision Making
• The Importance of Marketing Research to Management
– Descriptive function
– Diagnostic function
– Predictive function
• Unrelenting Drive for Quality and Customer Satisfaction
– Key competitive weapons of 2000s
– Quality should not be achieved at expense of customer service
– Return on Quality—new goal of companies

John Willey & Son, Inc 7


Marketing Research
To define marketing research.
and Decision Making
– Paramount importance of existing customers
• Customer retention
• Marketing research
– Used to understand customers’ needs and to satisfy those
needs
– Leads to customer satisfaction
– Understand the ever-changing market place

John Willey & Son, Inc 8


Marketing Research To understand the importance of
marketing researching shaping
and Decision Making marketing decision.

• Proactive Role of Marketing Research


– Proactive management:
• alters the marketing mix to fit newly emerging
patterns in economic, social, and competitive
environments
• new opportunities
• develops a long-run marketing strategy
– Proactive manager
– Proactive marketing strategic plan

John Willey & Son, Inc 9


Marketing Research To understand the
and Decision Making importance of marketing
research.

• Applied Research versus Basic Research


– Applied research
• To better understand the market.
Basic research
• To expand the frontiers of knowledge.
• Nature of Applied Research
– Programmatic research
– Selective research
– Evaluative research

John Willey & Son, Inc 10


Decision to Conduct To learn when marketing
research should and should
Marketing Research not be conducted.

• Decision to Conduct Marketing Research


– Reasons not to conduct marketing research
• Resources are lacking
• Research results would not be useful
• Opportunity has passed
• The decision has already been made
• Managers cannot agree on what they need to know
• Decision-making information already exists
• The costs of conducting research outweigh the
benefits

John Willey & Son, Inc 11


Exhibit 1.1
The Decision Whether to Conduct Market
Research
Market Size Small Profit Margin Large Profit Margin

Small Cost likely to be Possible


greater than benefits greater
benefit; than cost;
e.g., eyeglasses e.g., ultra expensive
replacement screw sportswear

Large Benefits likely to Benefits likely to


be greater than be greater than
costs; costs;
e.g., Stouffers frozen e.g.,medical
entries equipment

John Willey & Son, Inc 12


Profound Impact of the
Internet on Marketing To learn how the Internet is
changing marketing research
Research

• Impact of the Internet


• Growth Drivers of the Internet
– Provides more rapid access
– Improves response time to customer needs
– Increases follow-up studies and longitudinal
research
– Creates cost cutting opportunities

John Willey & Son, Inc 13


Profound Impact of the
Internet on Marketing To learn how the Internet is
changing marketing research
Research

• Internet Surveys Have Several Specific


Advantages
– Rapid development, real-time reporting
– Dramatically reduced costs
– Personalization
– Higher response rates
– Ability to contact the hard-to-reach

John Willey & Son, Inc 14


Profound Impact of the
Internet on Marketing To learn how the Internet is
changing marketing research
Research

• Internet Enhances the Research Process and


Dissemination of Information
– Virtually replacement of printed material
– Distributions of request for proposals (RFPs)
and the proposals themselves
– Collaboration between effected parties
– Data management and online analysis
– Publishing and distribution of reports
– Online presentation

John Willey & Son, Inc 15


SUMMARY

– Marketing Concept
– External Marketing Environment
– Marketing Research Defined
– Proactive Role of Marketing Research
– Applied Research vs. Basic Research
– When Not To Conduct Research
– Advantages of Internet Surveys

John Willey & Son, Inc 16


The End

Copyright © 2006 John Wiley & Sons, Inc.

John Willey & Son, Inc 17

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