Learning Objectives Chapter 1 The Role of Market Research in Management Decision Making The Role of...
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Learning Objectives Learning Objectives Chapter 1 The Role of Market Research in Management Decision Making The Role of Marketing Research in Management Decision Making Chapter One Copyright © 2002 South-Western College Publishing Co.
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Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making The Role of
Marketing Research
in Management
Decision Making
Chapter
One
Chapter
One
Copyright © 2002 South-Western College Publishing Co.
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
Learning Objectives
1. To review the marketing concept and the marketing mix.
2. To comprehend the marketing environment within which managers must make decisions.
3. To define marketing research.
4. To understand the importance of marketing research in shaping marketing decisions.
5. To learn when marketing research should and should not be conducted.
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
Learning Objectives
6. To understand the history of marketing research.
7. To examine career opportunities in marketing research.
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To review the marketing concept and the marketing mix.
Marketing:The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services.
The Marketing Concept
(1) a consumer orientation
(2) a goal orientation
(3) a systems orientation
The Nature of Marketing
Deciding Whether to Conduct Market Research
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To comprehend the marketing environment.
Identifying Target Markets and Researching the Marketing Mix: The Opportunistic Nature of Marketing Research
A marketing mix:
The unique blend of product/service, pricing, promotion, and distribution strategies designed to reach a specific target market.
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
The External Marketing EnvironmentAltering the marketing mix because of changes.
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To define marketing research.
Marketing Research Defined
The planning, collection, and analysis of data relevant to market decision making and communication of the results of this analysis to management.
The Importance of Marketing Research to Management
• descriptive function• diagnostic function• predictive function
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To understand the importance of marketing research.
The Paramount Importance of Keeping Existing Customers
Managers Must Understand the Ever-Changing Marketplace
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
The Unrelenting drive for Quality and Customer Satisfaction
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To understand the importance of marketing research.
The Proactive Role of Marketing Research
A proactive management:
• alters the marketing mix to fit newly emerging patterns in economic, social, and competitive environments
• new opportunities
• develops a long-run marketing strategy
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
Applied Research versus Basic Research
Applied research
To better understand the market.
Basic research
To expand the frontiers of knowledge.
To understand the importance of marketing research.
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
The Nature of the Applied Research Depends on the Type of Research Conducted
Programmatic research
To better understand the market.
Selective research
To expand the frontiers of knowledge.
Evaluative research
To assess program performance
To understand the importance of marketing research.
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
Advantages of Internet Surveys
Rapid Development, Real Time Reporting
Dramatically Reduced Costs
Readily Personalized
Ease and Convenience Encourage Respondent Participation
Contact the Hard-to-Reach
To understand the importance of marketing research.
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
Other Uses of the Internet by Marketing Researchers
Replacement of libraries and printed materials
Distribution of requests for proposals and proposals
Collaboration between the client and the research supplier
Data management and on-line analysis
Oral presentations of marketing surveys
To understand the importance of marketing research.
The Nature of Marketing
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Deciding Whether to Conduct Market Research
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To learn when marketing research should and should not be conducted.
In a number of situations it is best not to conduct market research.
The Nature of Marketing
Deciding Whether to Conduct Market Research
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
• A Lack of Resources
• lack of funds
• insufficient funds to implement decisions from research
• Research Results Would Not Be Useful
• Clients may be hard-pressed to use the information
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To learn when marketing research should and should not be conducted.
The Nature of Marketing
Deciding Whether to Conduct Market Research
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
Poor Timing in the Marketplace
Marketing research should not be undertaken if the opportunity for successful entry into a market has passed.
The Decision Has Already Been Made
Marketing research may be used improperly.
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To learn when marketing research should and should not be conducted.
The Nature of Marketing
Deciding Whether to Conduct Market Research
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
When Managers Cannot Agree on What They Need to Know to Make a Decision
The wrong phenomena might be studied
When Decision-Making Already Exists
Further research may be redundant and costly
When the Costs of Conducting Research Outweigh the Benefits
Potential new products with large profit margins may have a greater potential
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
To understand the history of marketing research.
The Nature of Marketing
Deciding Whether to Conduct Market Research
The History and Future of Marketing Research
The Role of Market Research in Decision Making
The Profound Impactof the Internet
The Development of Market Research
The Inception -- Pre-1900
Early Growth -- 1900-1920
The Adolescent Years -- 1920-1950
The Maturing of Marketing Research -- 1950 to Present
Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
The Decision Whether to Conduct Market Research
Cost likely to be greater than benefit; e.g., eyeglasses replacement screw
Small Possible benefits greater than cost; e.g., ultra expensive sportswear
Market Size Small Profit Margin Large Profit Margin
Benefits likely to be greater than costs; e.g., Stouffers frozen entries
Benefits likely to be greater than costs; e.g.,medical equipment
Large
Tab
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Learning ObjectivesLearning ObjectivesChapter 1
The Role of Market Researchin Management Decision Making
The End
Copyright © 2002 South-Western College Publishing Co.
