Market Research

Introduction to Marketing Information Management

Today’s Learning Targets

• Discuss the purpose of marketing research.
• Identify various forms of market research.
• Differentiate primary and secondary research.

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Let's Review

• Primary Data: Data gathered by you, for this particular situation or problem.
• Surveys
• Observations
• Consumers (Focus Groups)

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• Secondary Data: Pre-existing data that was gathered for another reason, but it still useful
• US Census
• Company records
• Magazines and trade journals (eMarketer)

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Let's Review

• Attitude Research
• Also known as opinion research
• Used to determine what people think about certain products, ideas, or companies

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• Market Research
• Concerned with size & segmentation of a market
• Conducted to answer questions on market segments, brand preference, advertising strategies, prices, etc.

Let's Review

• Media Research
• Focuses on media selection and frequency.
• Used to determine which forms of advertising or which combination of advertising will reach a particular target market.

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• Product Research
• Used to evaluate product design, product usage, and consumer acceptance
• Common Formats: Survey and Focus Groups

Kahoot.it�Intro to Market Research Review

Web-Based Research

Scenario: You have recently decided to open a sandwich & coffee shop in southeastern Wisconsin. In addition to a full lunch and beverage menu, the shop will also host live musical acts every Friday and Saturday night. Although you have not yet decided on the location of this business you know that your target market is both 15-34 year old males and females with at least moderate income.

Instructions: For this assignment you will be using the US Census Bureau website (www.census.gov) to gather and analyze secondary market research for two potential locations for your business.

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SEE GOOGLE CLASSROOM

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