1 Chapter 28 Marketing Research

Chapter 28 Marketing Research Student Notes

Marketing Research: Involves the process and methods used to
gather____information____, analyze it, and report findings (Main purpose of marketing
research is to obtain _____information_____)
Determine consumers' __attitudes__ and preferences
__Test__ product features
Determine market ______size_____ potential
Learn about ____competitive___ product
Determine buying __cycles__
Understand how the company is ____perceived____ by the public
Why is Marketing Research Important?
____Increase____ sales and profits
Solve marketing____problems____ (Whirlpool refrigerator; Stouffer's - Lean Cuisine
Keep track of what is happening in ___market___
Who Uses Marketing Research?
________ businesses- because of time constraints; informally conducted
Medium and large businesses - may hire marketing research ______ (more than
_______ marketing research companies in US)
Marketing Information System: set of procedures and methods that regularly
generates, store, analyzes, and distributes ___information___
Included the following data
____Customer___ profile (buying behavior; shopping patterns, customer
demographics)
Company records (sales, expenses)
Competitors' records (prices, market share)
___Government___data (price trends, laws, economic projections)
Database Marketing (Customer Relationship Management - _CRM__)
The ___process___ of creating and managing customer information (individuals'
characteristics and transactions with a business)
Database -collection of related information about a ___specific___ topic (Bass Pro Shop database of people it sends catalogs)
Using Technology to Gather Information
Customer Loyalty Programs - offer discounts and other ___rewards____ to encourage
customers to shop at a particular retailer
Assist in ____data collection___ by providing "value customer cards"
Cookies (not the type Cookie Monster eats) - small data files called "cookies" that can be
uploaded to computers
Keep track of how often and how much time a person spends at a ____web site____
Data-Mining Software - analyze databases
Example - sales of a product can be compared with sales when the product is
moved or displayed in a ______different location_____

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Consumer Privacy:
As personal information becomes more ___accessable___, it is important that
precautions are taken against the misuse of personal information
Privacy is a central element of the Federal ___Trade_____ Commission's (FTC) mission
Types of Marketing Research
(1) Attitude Research
(2) Market Intelligence
(3) Media Research
(4) Product Research
Quantitative research - marketing research that answers questions that begin with
"___how many___" or "____how much____" (an amount or number of something)
Qualitative research - marketing research that focuses on smaller numbers of people
and tries to answer questions that begin with "__why__" or "_how_"
1. Attitude Research (Opinion Research) - designed to obtain information on how
people __feel__about certain products, services, ___companies___, or ideas
Satisfaction surveys - mail or ____telephone____ interviews
Opinion Poll - (___Gallop Consulting____ conducts opinion polls on politics, elections,
business, economy and political issues) (obtains the general attitude of the
population)
2. Market Intelligence (Market Research) - studies the ____________________ of a
market, the competition, and segmentation within the market for a particular product
Sales Forecasting - an attempt to _____________ the future sales of an existing
product
Economic Forecasting - an attempt to _________ the future economic conditions
3. Media Research (Advertising Research) - research to determine which media are
_____________________ for getting an advertising message to a particular market
_______________ - number of homes or people exposed to ad
Frequency - number of times a viewer sees or hears ad
___________ - % of audience that will see or hear ad at least once
Ratings - total number of audience impressions delivered over a set period of time
Standard Rate and Data Service (______) - publishes media rates and data for the
advertising industry
Researching Print Media:
Audit Bureau of Circulations - nonprofit organization which provides information
about ______________ and ________________
Researching Broadcast Media:
__________________________ - provides audience information for the TV industry
(sample size - ___________ people in 10,000 homes)
Arbitron Ratings Company - provides information on the _______ industry
Researching Internet Media: Measured with tracking studies
web-centric logs - total _________
user-centric - using software placed in _____ that track computer usage and visits

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4. Product Research - evaluating ________________, package design, product usage, and

consumer acceptance of new and existing products
New Product Research:
Concept testing - obtaining information on product, pricing, advertising, and product
positioning ___________ product introduction
Often uses a _______________ (panels or individuals that give feedback on new
products
Existing Product Research:
Customer satisfaction _____________________ and interviews
_________________ and Associates - leading customer satisfaction company
Limitations of Marketing Research
_______ and __________
Information has limitations
Trends in Marketing Research
Marketing research in a ____global marketplace_____
Determine cultural preferences and traditions of parts of the world businesses want
to market products
Make sure all parts of the ___marketing mix___ are transitioned to another
marketplace
Examples of ads lost in translation: