Marketing Research Methods& Environment

Marketing Research Methods& Environment

A

1. Marketing research process

  ● Define the problem

  ● Define research objectives

  ● Choose data sources

  ● Choose research methods

  ● Construct sample

  ● Set budget and deadlines

  ● Undertake research

  ● Analysis and evaluation

2. Secondary data sources

Internal	External
● Sales figures ● Customer reports ● Cost data	● Competitor information ● Government publications ● Commercial publications

3. Primary field data sources

● Experiments

● Observations

● Interview

4. Surveys

● Key research method to obtain information from large samples.

● Wide range of uses: to ascertain facts, beliefs, opinions, attitudes

    ● Various methods to complete surveys are interview, telephones, face to face, postal, online.

5. Advantages & Disadvantages

Advantages	Disadvantages
● Wide coverage ● Low cost ● No interview bias	● Low response rate ● Long response time ● Lack of control of respondent

B

1. Micro-environment

● Micro-environment, nearby factors that affect a company’s ability to serve its customers.

● Elements:  Customers, Employees, Suppliers, Intermediaries, Local government.

2. Categories of competitor environment

Categories	Describe
Direct competitors	Firms that produce a similar products which is a direct rival
Close competitors	Firms producing similar products
Substitutes	Products that are different but might be bought instead
Indirect competition	All other firms are indirect competitors in that they compete for consumers’ money

3. Market structures

		Examples
Perfect competition	Many firms selling homogeneous goods to customers who buy on price alone.	● Wheat  ● Milk
Monopolistic competition	Many firms each selling a differentiated good over which they have a monopoly.	● Novels  ●Movies
Oligopoly	Competition between a small number or firms	● Cigarettes
Monopoly	A single supplier	● Tap water

4. Porter’s five forces

Forces	Describe
The intensity of existing competition	Using price competition
Barrier to the entry	How easy is it for newcomers to enter the market
Threat of substitute	Likelihood of changing to substitute product
The bargaining power of customers	Dominant customers will drive down price
The bargaining power of suppliers	Dominant suppliers will force up price

5. Marketing environment types

● Consumer or B2C markets

● Business or B2B markets

● Export markets

● Government markets

● Reseller markets

6. Macro-environment

  ● Macro-environment refers to the general environment factors that influence the organization.

     ● Elements:  Macro-economic environment

              Political environment

              Social and cultural environment

              Demographic environment

              Technical environment