Market Research Group Presentation

Introduction to
Marketing Research
Presented by Julie Hyson

Marketing Research
• Marketing research is the systematic and
objective identification, collection, analysis,
dissemination, and use of information.
• For the purpose of identification and solution of
problems and opportunities related to marketing
and business development efforts.
Marketing research is a fundamental tool that
can help you discover actionable insights!

Marketing Research vs.
Market Research
These terms are often used interchangeably, but
technically there is a difference.
• Market research deals specifically with gathering information
about a market’s size and trends.
• Marketing research covers a wider range of activities. And,
although it does involve market research, marketing research
is a more general systematic process that can be applied to a
variety of marketing problems.
We have the internal capabilities to provide both types
of research and are already doing so for several
market-based business development teams, and
principals in the firm.

Marketing Research
Applied Research is undertaken to solve a
specific problem.
• Example: SPC Hospitals Research; Key Healthcare
Providers in Southern California.
Basic Research is undertaken for the sake of
extending knowledge.
• Example: Healthcare Markets in Greater Los Angeles,
and Southern California.

Marketing Research
Marketing Research Studies can be
classified by the functions of management:
• Analysis/Planning: Identifying opportunities
and market demand.
• Implementing: Studies conducted to
implement the four Ps
• Controlling: Success of a marketing strategy.

Marketing Research: Benefits
Data Information Knowledge
Decision
Making
Implementing
Action
Key Benefits
 We’ve all heard the saying, “Information is power.” Research
provides information that facilitations marketing decisions. Without
research it is hard for management to make sound marketing
decisions or to implement a marketing concept.
 When used correctly, this information can be the key to developing
a deeper understanding of your customers, innovating to meet their
needs, predicting and managing calculated risks, and having a
better understanding of your competition.
The Information Value Chain

Marketing Research: Process
1 • Establish the Need for Research
2 • Define the Problem or Question
3 • Establish Research Objectives
4 • Determine Research Design
5 • Identify Information Types and Sources
6 • Determine Methods of Accessing Data
7 • Collect Data, Sources & Supporting Documentation
8 • Analyze & Validate Data
9 • Prepare Research Report & Present Findings

Marketing Research:
Data Types and Sources
*Secondary Data: data previously collected for other. This data is
accessible internally and externally through
reports, articles, journals, and other published or commercially available
data. Example: The government census or information in our CRM
system.
• Key Benefits: easier to access
• Key Challenges: difficult to verify accuracy
Primary Data: can be obtained by communication or by observation.
Types of common primary data include: demographic and socio-
economic characteristics, opinions, awareness and
knowledge, behavior. Example: A client survey.
• Key Benefits: customized to answer a specific question or problem;
information directly from customer source.
• Key Challenges: time-consuming, subject to error and bias

Marketing Research: Actions
Insight gained from the research/study
allows you to:
1) identify action recommendations
2) implement action recommendations, and
3) evaluate the results (on-going)

Is there a research
project that you need
help with?

Market Research Group Presentation

More Related Content

What's hot (19)

Similar to Market Research Group Presentation (20)

Recently uploaded (20)

Market Research Group Presentation