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The Business CycleStrategic Planning
SWOTMarketing Research
Legal Implications and Laws
Marketing Principles – Fall 2011
MARKET PLANNING
Key Terms Business Cycle Competitive Practice Laws Consumer Protection Laws Strategic Planning-SWOT Marketing Information System (MKIS) Data Mining Primary Data Secondary Data Marketing Research Process Exploratory Research Conclusive Research
Recognize the Insides of these Restaurants?
Mcdonalds
Pizza Hut-
What made these companies start to change the interiors of their businesses?
DATA…..Market Research
Marketing Information Systems
MKIS- A system designed to regularly collect data that will be used to make marketing decisions
Read pg 277 OVERSTOCK
List 4 types of data they collect How does Overstock treat customers
who searched for discount differently How is Sales data by Zipcode helpful for
a company?
COKEBRANDS
DATA Mining Using statistical analysis to uncover
pattern to help make marketing decisions
If you were a garden retailer and you found out that 25% of the time that customers who bought a garden hose, also bought a sprinkler….what marketing would you do?
The marketing research process
Define Objectives
Design the research Project
Data Collection
Analyze Data
Present Results
Homework. E-mail Answers To Mr. Fassl
You are an entrepreneur looking to start a new Salon. The problem is you don’t know how the salon industry is doing in your town, or even if there is a market for a new salon.
Use the internet to find 3 Google tools that will help you to conduct market research. (list them, then explain how each will help
you) Find three pieces of data from the
GOVERNMENT that can help you to determine if the market is right for you. List the location and the data, explain how it
will help you!
Virtual Business Lesson 6- Market Research Complete lesson(start with tutorial) Answer the 5 questions. Questions
1) What products do customers need most often? 2) In what section of the city do most people live? 3) What products do students need? 4) Using the diagram, in what section of the city
do most seniors live? 5) Using the diagram, in what section of the city
do most customers of John’s store live?
Types of Data Primary Data – Data collected for
specific research needs.(collected 1st hand)
Secondary Data- Data already collected from other sourcesType Examples Advantages Disadvantages
Secondary Research
• Census Data• Sales invoices• Internet
information• Books• Journal articles• Syndicated Data
• Saves time in collecting data because they are readily available
• Reduces data collection cost
• May not be relevant to data needs
• Not timely• Trusted sources• Collection
techniques
Primary Research
• Observed customer behavior
• Focus Group interviews
• Surveys
• Specific to your data needs
• Immediate• Offer behavioral
insights.
• More costly• Takes longer• Experience
designing survey instrument
• Validlity
Data Collection Research
Data Collection
Exploratory Research• Observation• Focus Groups• In-Depth Interviews• Projective Techniques
Types of Research
Conclusive Research• Experiments• Scanner• Survey• Panel
Developing Survey Questions http://
www.keene.edu/crc/forms/designingsurveysthatcount.pdf
Handout pg ___
Marketing Applications A bathroom fixture supply store is trying
to determine if there is a significant market for its type of merchandise in a specific location for a store. Should they use primary or secondary data or a combination? Explain.
Marketing applications A bank manager notices that by the
time customers get to the teller, they seem irritated and impatient. She wants to investigate the problem further, so she hires you to design a research project to figure out what is bothering customers. What type of research method would you recommend? Why? Is it exploratory or conclusive?
Marketing Applications PomWonderful has developed a coffee-
flavored pomegranate beverage, and it wants to determine if it should begin to market it throughout the United States. The company used two separate studies for the advertising campaign: A focus group to identify the appropriate
message for the new beverage A survey to assess the effectiveness of the
advertising campaign for the new PomWonderful beverage.
Which Study was exploratory and which was conclusive? What other studies would you recommend PomWonderful undertake?
Net Savy Visit the epinions.com website. They
are a clearing house for consumer review's about different products and services. Think of a particular business with which you are familiar and review the ratings and comments for that business. Provide three conclusions about the data
and the extent to which this data might be useful to a marketer for that company.
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