marketing research

descriptive objective is to describe or understand

● process of planning, collecting, and analyzing data research understand the characteristics of a target
relevant to the marketing decision market of a product
● systematic design collection, interpretation, and
reporting of information to help marketers find
b. developing the research design
marketing opportunities
i. determines the specific plan in order to
obtain the needed information to address
importance of marketing research
the research problem
● provides valuable data about demand, supply,
ii. ensures that the scope of the research
consumer behavior, and competition
covers the information needed by the
● provides data about age income, likes, dislikes of
company
the consumer (demographics)
● helps prepare budget for advertising and sales
c. data collection
promotion
i. primary and secondary data
● supplies marketing information / market situation
ii. qualitative and quantitative research
which is used to find out the ff:
1. qualitative: generates data that
a. the present and future demand and supply
gives descriptive non statistical
positions
data
b. market opportunities
● open ended and rich in
c. cause of fall in sales level
information – tedious to
d. level of competition and steps taken to
analyze
control it
2. quantitative: yields empirical and
● evaluates marketing performance
statistical information
a. used to find out the effect of price, package,
● method is easier to analyze
brand name on sales
because of the set of
b. used to find the customers reaction
questions it will generate
towards the company's product
iii. sampling: systematically choosing the
c. used to evaluate the effectiveness of
respondents to represent a portion of the
advertising, sales promotion techniques,
population
channels of distribution, etc.

d. data analysis and interpretation

marketing information system (mis)
i. transforms the collected data into
● helps them make decisions, design campaigns, and
information that will be useful in addressing
build a profitable relationship with their customers
the research problem

the research process

e. preparation and presentation of a research project
a. identifying the research problem and objectives
i. formal written document submitted to the
i. research problem: issue that needs to be
top management or office that requested
solved / a challenge that needs to be
for the research to be done
addressed / area of concern for the
ii. utilize graphs, charts and other visual aids
company
to communicate information better
ii. objectives: express specific goals that the
researcher wants to achieve – will serve as
relationship marketing
a guide when conducting research
● strategy that concentrates on keeping and
improving relationships with existing customers
three researches based on objective ● Focuses on ensuring that prospective and current
customers maintain a long profitable relationship
exploratory objective is to collect additional
research information to help understand the
transactional relationship
problem better and to suggest
hypotheses ● when you buy something from a store and forget
about the store
experimental objective is to test the effect of a variable
research
 micro-moments in the decision making process
transactional relationship
marketing marketing ● intense rich moments when needs or wants are
recognized and preferences are shaped for a
focus single sale customer retention decision that is made within seconds
● critical touchpoints in the customers journey and
orientation product features product benefits influence how the journey ends
time short long “i want to “i want to “i want to “i want to
know” go” do” buy”
customer little emphasis high emphasis moments moments moments moments
service
exploring or looking for a wants help ready to
customer limited high researching local completing a make a
business task or trying purchase
commitment and is something
considering new
customer moderate high buying in a
contact nearby store

concern for concern of concern of all

consumer behavior
quality production departments
department ● study of how consumers decide to buy, use,
dispose of goods, services, experiences, and ideas
to satisfy their needs and wants
customer value, satisfaction, and retention = loyalty ● consumers/final buyers make up the consumer
market
customer customers perception of the benefits that ● consumers make purchasing decisions everyday
value he or she is getting from a product
stimulus-response model of a buyer behavior or buyer’s
customer evaluation of the products performance
satisfaction in relation to the expectations set by the black box
customer ● central to the consumers decision making process
● central to that the buyers demographics,
customer effort made by companies to keep psychographics, behavior where the buyers unique
retention customers happy and loyal attitude resides
● influenced by the environment – stimuli in the
customer loyal customers buy more products and
loyalty spread positive word of mouth or environment may motivate, purchase, or awaken
feedback about product the desire to buy and stimulate purchase
● stimuli include external variables: economic,
technological, social, and cultural
relationship ladder
● response to environment helps buyer form his or
● loyalty ladder is a relationship marketing concept
her own attitudes and preferences toward certain
that sees customers gradually moving up through
brands or products
relationship levels

consumer decision making process

a. need recognition and problem awareness
● consumer recognizes a need or problem
● can be triggered by internal stimuli like
feeling thirsty or hungry
 ● can be triggered by external stimuli like ● play an important role in influencing
seeing an ad consumer choices because consumers
b. information search interact with people everyday
● consumer recognizes a need – usually look
for information about product that will help
in his/her purchase c. psychological factors
● about the psychology of an individual that
personal sources recommendation from family and
friends drive his action to seek satisfaction
d. personal factors
commercial sources advertisements, social media, ● includes a person's age and life-cycle stage,
shop displays, etc. occupation, economic situation, lifestyle
and personality
public sources mass media, customer reviews

experiential sources actual handling and examination segmentation

of product ● companies classify the population into groups of
people with similar characteristics in order to offer
them a product and conduct marketing activities for
c. evaluation of alternatives
them
● comparing products in the same market
d. purchase decision
market segmentation
● comes once the consumer decided on the
● dividing a big market into smaller segments of
product he/she is buying
buyers with distinct needs and behaviors
● deciding factors:
1. attitude of others
5 reasons for market segmentation
2. unexpected situational factors
a. better satisfy needs and wants
e. post-purchase evaluation
b. better communication
● after the purchase the consumer will
c. opportunity for growth
evaluate if the product has met his or her
d. increased innovation
expectations or not
e. higher profits and market share
● customer satisfaction = positive feedback
● customer dis-satisfaction = negative
4 ways of segmenting the market
feedback
a. geographic
● countries, regions, or cities
AIDAR model
b. demographic
● age: customer preferences change
overtime
● life stage: defines a person’s major concern
● gender: male and female have different
needs and wants
● income: considers how much people earn
and how much disposable income they
have
● religion: classified on their religious beliefs
and spiritual needs
c. psychographic
● based on psychological or personality
traits, lifestyle, and values
factors that influence consumer buying decisions ● combines psychological and demographic
a. cultural factors characteristics of the market
● cultural norms shape a person's values, ● digs deeper into the customer’s aspirations,
perceptions, wants and behaviors interests, life goals and lifestyles
b. social factors d. behavioral
● based on knowledge of attitude toward use
of or response to a product
 ● occasion: customers who are most likely to d. product use and application
interact with the company’s brand and ● associating your product with a specific
purchase on specific occasions and set of use
time e. competitors
● benefits sought: divided into segments ● positioning your brand as better than your
according to the different benefits that they competitors
look for in a product
● user status: first time, regular, ex users, and
non-users
● usage rate: light, medium, heavy product
users
● loyalty status: degree of loyalty to a product

targeting/target marketing
● companies need to choose the right markets in
order to pursue their business
● involves breaking the target audience into
segments then designing marketing activities to
pursue and offer their products to
● target market: set of buyers who have common
needs and characteristics that the company
chooses to serve
a. mass marketing
● one size fits all
● focuses on the common concern of a big
market and targets them with one offer
b. multi-segment marketing
● focuses on two or more segments of the
market in one product category
c. niche marketing
● chooses to target a small market with big
purchasing power
● always in the premium category – has a
higher price
d. one on one marketing
● individualized attention to customers

positioning
● not what you do to the product – what you do to the
mind of the prospect
● consumer’s minds relative to its competitors
● product should be in the mind of the consumer

types of positioning
a. customer needs
● knowing your target market and how you
will fulfill their specific needs
b. product price
● positioning your brand/product as
competitively priced
c. product quality
● positioning your brand as something of
high quality