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Chapter 28 Marketing Research 1 Marketing Essentials Chapter 28 Marketing Research Section 28.2 Types, Trends, and Limitations of Marketing Research

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Page 1: Chapter 28 Marketing Research 1 Marketing Essentials Chapter 28 Marketing Research Section 28.2 Types, Trends, and Limitations of Marketing Research

Chapter 28 Marketing Research 1

Marketing EssentialsMarketing Essentials Chapter 28 Marketing Research

Section 28.2 Types, Trends, andLimitations of Marketing Research

Page 2: Chapter 28 Marketing Research 1 Marketing Essentials Chapter 28 Marketing Research Section 28.2 Types, Trends, and Limitations of Marketing Research

Chapter 28 Marketing Research 2

SECTION 28.2SECTION 28.2

What You'll LearnWhat You'll Learn

Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Four important areas of marketing research

The important trends affecting marketing research

The limitations of marketing research

Page 3: Chapter 28 Marketing Research 1 Marketing Essentials Chapter 28 Marketing Research Section 28.2 Types, Trends, and Limitations of Marketing Research

Chapter 28 Marketing Research 3

SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Why It's ImportantWhy It's Important

Sometimes more than one type of research is needed to solve a particular problem. In addition, data collected from one research study can often be used to solve other business problems related to marketing. This section will introduce you to the major types of marketing research, the latest trends, and the limitations of marketing research.

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Key TermsKey Terms

attitude research

market research

media research

product research

test research

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Chapter 28 Marketing Research 5

SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

The type of marketing research businesses conduct depends on the problem that they are trying to solve. Some of the most significant areas of research are:

attitude research

market research

media research

product research

Types of Marketing Research

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Attitude Research

Attitude research, also known as opinion research, is research designed to obtain information on how people feel about certain products, ideas, or companies.

Example: The Gallup Organization conducts opinion research polls on politics, elections, business and the economy, social issues, and public policy.

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Market Research

Market research involves the systematic gathering, recording, analyzing, and presentation of information related to marketing goods and services. It uses market analysis—the study of particular consumer and industrial markets—to obtain data about the size, location, and make-up of the market for a product.

Slide 1 of 2

Page 8: Chapter 28 Marketing Research 1 Marketing Essentials Chapter 28 Marketing Research Section 28.2 Types, Trends, and Limitations of Marketing Research

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Market Research

Sales forecasting is an effort to estimate the future sales of a product.

Economic forecasting is an attempt to predict future economic conditions. Most businesses rely on government data to predict economic conditions and to adjust their business activities depending on the economic outlook.

Slide 2 of 2

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Media research focuses on issues of media selection and frequency. It measures the effectiveness of the advertising message and media placement. Media research is done on:

print media

broadcast media

online media

Media Research

Page 10: Chapter 28 Marketing Research 1 Marketing Essentials Chapter 28 Marketing Research Section 28.2 Types, Trends, and Limitations of Marketing Research

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Researching Print Advertisements

The effectiveness of a printed advertising message can be tested on its recall, communication, and persuasive abilities. Several different techniques are used, including:

reader surveys

consumer panels

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Advertisers who prepare television advertisements are interested in TV ratings. What information can TV ratings provide for a television advertiser?

TV Ratings

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

As online advertising increases in popularity, researchers have developed marketing research techniques for online copy testing. Techniques include:

using a mock environment similar to traditional copy testing

live testing in an interactive environment tracking ad recall and copy effectiveness evaluating Web site elements that

attract users

Researching Online Advertising

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Product research centers on evaluating product design, package design, product usage, and consumer acceptance of new and existing products.

Product Research

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Product tests are a way of measuring new product acceptance. Techniques include:

having consumers try a product and give their opinions

providing samples

test marketing by placing a new product in a selected geographic area

having a product rating board

New Product Acceptance

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Satisfaction questionnaires and interviews gather information about existing products and services.

Industrial satisfaction surveys focus upon products and services utilized by business and manufacturing firms.

Customer satisfaction surveys provide data for businesses regarding retail customer attitudes toward existing products and services.

Existing Product Research

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

The nature and scope of marketing research are rapidly changing to keep pace with a changing marketplace. In the face of global competition, research that measures product quality and consumer satisfaction is the fastest growing form of marketing research.

Trends in Marketing Research

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SECTION 28.2SECTION 28.2 Types, Trends, and Limitations of Marketing ResearchTypes, Trends, and Limitations of Marketing Research

Marketing research information is used to help businesses make sound business decisions, however it is limited by the following factors:

the company's budget

time

quickly changing customer preferences

Limitations of Marketing Research

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Chapter 28 Marketing Research 18

28.2 ASSESSMENTASSESSMENT

Reviewing Key Terms and Concepts

1. What are the four major areas of marketing research?

2. What is the difference between sales and economic forecasting?

3. What is test marketing?4. List at least four trends facing marketing

researchers today.5. What are two limitations of marketing

research?

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Chapter 28 Marketing Research 19

28.2 ASSESSMENTASSESSMENT

Thinking Critically

Should every type of business engage in marketing research? Why or why not?

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Chapter 28 Marketing Research 20

28.2 Graphic OrganizerGraphic Organizer

Types of Marketing Research

Types of Marketing ResearchTypes of Marketing Research

ProductResearchProduct

ResearchAttitude

ResearchAttitude

ResearchMedia

ResearchMedia

ResearchMarket

ResearchMarket

Research

NewProduct

Acceptance

NewProduct

Acceptance

ExistingProduct

Research

ExistingProduct

Research

ResearchingPrint

Advertisements

ResearchingPrint

Advertisements

ResearchingBroadcast

Media

ResearchingBroadcast

Media

ResearchingOnline

Advertising

ResearchingOnline

AdvertisingEconomic

Forecasting

EconomicForecasting

SalesForecasting

SalesForecasting

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Chapter 28 Marketing Research 21

Marketing EssentialsMarketing Essentials

End of Section 28.2