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Learning Objectives

• What is marketing research?

• Explain the importance of marketing research?

• Outline the marketing research process?

• What are the sources of research information?

What is marketing Research

 The systematic and objective process of generating information for aid in making marketing

 Is about understanding what 'package' of marketing elements (i.e. the product, price,
promotion and distribution factors) the company will need to put together in order to meet
customer needs and to succeed in the marketplace.

 Is the systematic and objective identification, collection, analysis and dissemination of

information for the purpose of improving decision making related to the identification and
solution of problems and opportunities in marketing.

 Marketing research is the function that links the consumer, customer, and public to the
marketer through information–information used to identify and define marketing
opportunities and problems; generate, refine, and evaluate marketing actions.

Marketing Research vs Market Research

 Marketing Research- a holistic research

 It can also include promotion, pricing, advertising and public relations.

 Market Research is a more narrow concept because it is research focused on a specific

market.eg. a market for quail birds, University programmes

 market research is a subset of marketing research.

Importance of Marketing Research

 It enables corporates and individuals to make accurate decisions e.g make appropriate
estimates-sales forecasting

 It provides market related information useful for decision making

 Helps in identifying new business opportunities.

 Helps in designing marketing campaigns that will directly target your potential customers.

 Studies consumer behaviour-provides data about income, likes & dislikes of consumers

 It helps to minimize business losses e.g before launching a product, a company can identify
potential problems and even determine solutions.

 Customer needs will be met.

 Resolve business problems e.g decreased sales may have resulted from entry of a new

 It helps a company to evaluate its marketing perfomance.

 It supplies market-related information

Marketing Research Process

Step One: Establishing the Need for Marketing


Step Two: Defining the Problem

Step Three: Establishing Research Objectives

Step Four: Determining Research Design

Step Five: Identifying Information Types and


Step Six: Determining Methods of Accessing


Step Seven: Designing Data Collection Forms

Step Eight: Determining Sample Plan and Size

Step Nine: Collecting Data

Step Ten: Analyzing Data

Step Eleven: Preparing and Presenting the Final Research Report

Sources of Research Information

 Two main categories

 Primary Data- Information that has been gathered specifically for the research objectives at

 Secondary data-information that has been collected for some purpose other than the
research at hand.

Data Gathering Techniques

 Questionnaires- is a research instrument consisting of a series of questions

 Interviews-is a conversation where questions are asked and answers are given
 Focus groups-is a form of qualitative research in which a group of people are asked about
their perceptions, opinions, beliefs, and attitudes towards a product, service, concept,
advertisement, idea, or packaging.

 Observations-the action or process of closely observing or monitoring something or