GENERAL * Marketing research is the systematic collection, recording and analysing of data that deal with the marketing of goods and services to determine the needs and wants of the customer and keeping up with the changes in customer behaviour. * Marketing strategy consists of selecting a target market and designing the “mix ” needs of that target market. * Marketers need information in order to develop, implement, and evaluate strategies. * Because marketing research attempts to predict human behaviour, it is not fool proof in its predictions.
TYPES OF MARKETING * Product Research * Pricing Research * Market Research * Promotion Research
THE INCREASED NEED FOR MATKETING INFORMATION STEMS FROM * Shortening of time span available for decision making * Marketing becoming broader and more complex * Increased emphasis on profit * Increasing consumer awareness and expectations * The information explosion
DATA TYPES AND COLLECTION
Primary data: Original information gathered specifically for this project
Secondary Data: Information that has already been gathered for some other purpose.
Secondary Data Sources: * Internal records/reports * Libraries * Governments * Trade, professional, and commercial organisations * Advertising media
Primary data collection methods * Survey – telephone, personal email * Observation – personal or mechanical * Experimentation *
MARKETING RESEARCH PROPOSAL 1. Executive Summary. Ideally 1 page – point form, The proposal should begin with a summary of the major points from each of the other sections, presenting an overview of the entire proposal. 2. Background. Why are you putting together this plan.. The background to the problem, including the environmental context should be discussed. 3. Problem Definition/Objectives of the research. Normally a statement of the problem including the