Marketing Research Midterm

Definition of Marketing Research

Organizations’ formal communication link with environment. To gather, analyze, and report information that may be used to solve a marketing problem.

Purpose for Marketing Research

To gather data to use in developing, implementing, and monitoring a firm’s marketing plan. Can be used to make good business decisions.

History of Marketing Research

NW Alyer was the first marketing company, founded in 1879, that dealt with machinery/agriculture. MR became popular after WW2

Who uses Marketing Research

Producers of products/services, advertising agencies, and marketing research companies.

Price, product, promotion, publicity.

What are the 4 P’s!

Planned Change

Looking forward towards things and making voluntary changes. (Proactive).

Unplanned Change

Responding to change in the marketing environment (Reactive)

Discovery Oriented Decision Problem

What is going on? Why is it going on? Questions used by managers to make important decisions, the research itself does not lead to decisions.

Strategy oriented decision problem

The way information WILL be used to help make decisions and have logical reasons for each piece of research (PLANNED).

Normal thinking

Routine way of looking at business