the marketing research

7/30/2019 The Marketing Research

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The generation and use of market research enables a

management team to learn about changes in the marketfaster than the competition, making it a major component ofcompetitive rationality and competitive advantage.

Peter R.Dickson


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Review the importance of Marketing Research

Examine the Marketing Concept: Philosophy,Segmentation and Consumer Orientation

Establish the area vital to Marketing Planning Characteristic the marketing stages

Discuss telemarketing and Internet tools forMarketing

Discuss the key features of a pricing strategy


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The study suggested the following set of question:

Identify where potential customer go to purchase the good or service inquestion

Why do they choose to go there?

What is the size of the market? How much of it can the businesscapture?

How does the business compare with competitor?

What impact does the business promotion have on customer?

What type of product or services are desired by potential customer?


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Many fail to do it:-

Cost

Complexity Strategic Decision

Irrelevancy


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Marketing Philosophy

Three distinct types of marketing philosophies exist -Production driven, Sales driven and Consumer driven

Market Segmentation

Process of identifying a specific set of characteristic thatdifferentiate one group of consumer from the rest

Consumer Behavior

Focus on two consideration Personal characteristic andpsychological characteristic


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Process of determining a clear and comprehensive approachto the creation of customer.

Marketing Research: determining who the customer are,what they want and how they buy.

Sales Research: promoting and distributing productaccording to marketing research findings

Marketing information system:collecting,screening,analyzing,storing,retreive anddisseminating marketing information on which to baseplans decision and action


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Sales forecasting: coordinating personal judgment withreliable market information

Marketing Plans: formulating plans for achieving long-term marketing and sales goals

Evaluation: identifying and assessing deviation frommarketing


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Telemarketing

the use of telephone to communicateto sell merchandise directly to consumer

Discuss the advantages and disadvantages


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The Internet Marketing

The Internet can assist newventure in four ways :

To increase its presence and brand equity in themarketplace.

To cultivate new customer

Improving customer service by allowing customer to

serve themselves when and where they choose. Benefit to marketer relate to transfer informations.


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The quality of a product in some situations is interpreted by

according to the level of item price

Some customer shy away where no price schedule is available

Emphasis on monthly cost of purchasing

Most buyer expect to pay even-numbered for prestigious itemsand odd-numbered prices for commonly available goods

The greater number of meaningful customer benefit the sellercan convey about a given product, generally the less will be theprice resistance.

Pricing strategies are the reflection of marketing research and mustconsider such factors as marketing competitiveness, consumer demand,life cycle of goods or services being sold and prevailing economicconditions.


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Case of New F&B Business Venture in Port Dickson ,Negeri Sembilan

Gather and summarize the most recent data on domestictourism segment.

Clarify the opportunities and threat for F&B industry of anytrend or issue you can identify from analyzing the data

From this opportunities and threat detail what an individualF&B operator should include as priority in their 12 monthoperational management plan.

Detail the reason why there may be threats to counteract oropportunities to capitalize on.


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