Unit 9 – Marketing Information Management



Unit 9 – Marketing Information Management

Chapter 32 – Marketing Research

Objectives 32.1

Marketing research involves the systematic gathering, recording and analyzing of information about problems related to marketing goods and services. The research helps businesses determine what customers want and need. This research then helps businesses plan their future operations to try to increase sales and profits. The marketing information system is a tool to collect, organize and store data for future decisions.

Terms 32.1

• Marketing Research – involves the systematic gathering, recording and analyzing of information about problems related to marketing goods and services.

• Marketing Information system – is a set of procedures and methods that regularly generates stores, analyzes and distributes marketing information.

• Database – is a collection of facts or file of related information about a specific topic.

Objectives 32.2

Marketing research consists of 4 areas:

• Advertising research

• Product Research

• Market Research

• Sales Research

Trends such as a global marketplace are changing market research. Now the basic measure of business success will be placed on customer satisfaction. The two limitations the effect market research the most are time and money.

Terms 32.2

• Advertising research – focuses on the effectiveness of the advertising message and the effectiveness of media placement.

• Product Research – centers on evaluating product design and acceptance, competitive products, package design and product usage.

• Test Marketing – occurs when a new product is placed in one or more selected geographic areas.

• Market Research – focuses on the customer and the market, information is acquired through customer and market analysis.

• Sales Research – is the study of sales data to determine the potential sales for a product and to solve problems related to future sales.

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