15 Questions
What is the main purpose of marketing research?
To collect, analyze, and interpret information for decision making
What is one of the objectives of marketing research?
Understanding the nature and scope of marketing research
What is the impact of technology on the marketing research industry?
Significant impact on data collection and analysis
What do marketers do when they identify potential opportunities and problems?
Make decisions and devise effective solutions
What are the types of research suppliers discussed in the text?
Internal and external, full service and limited service suppliers
What skills will researchers need to succeed in the future of marketing research?
Appreciate the impact of technology and possess necessary skills
What is the role of marketing research in supporting the marketing decision maker?
Remove some uncertainty by providing relevant information about marketing variables, environment, and consumers
According to ESOMAR, what is the definition of market research?
Systematic gathering and interpretation of information about individuals or organisations using statistical and analytical methods
What is the core function of marketing research according to the American Marketing Association?
Link the consumer, customer, and public to the marketer through information
What are the distinct characteristics that marketers base their 'vision' of target markets on?
Environmental forces and customer groups
What helps the marketing manager link the marketing variables with their environment and customer groups?
Marketing research
What does marketing research specify according to the definition by AMA?
The information required to address marketing opportunities and problems
Which forces affect the marketers’ ability to deliver experiences that will satisfy their chosen target markets?
Environmental forces
What is the role of the researcher in supporting the marketing decision maker according to the text?
Test individual and interactive variables that shape consumer experiences
What is not revealed to the user of information without explicit consent according to ESOMAR's definition on Market Research?
'Identity of respondents'
Study Notes
Marketing Research Objectives
- The main purpose of marketing research is to provide insights that support marketing decisions.
- One of the objectives of marketing research is to identify potential opportunities and problems.
Impact of Technology
- Technology has a significant impact on the marketing research industry.
Role of Marketing Research
- Marketing research supports the marketing decision maker by providing insights to inform decisions.
- According to the American Marketing Association, the core function of marketing research is to link the organization to its market.
Types of Research Suppliers
- The text discusses different types of research suppliers, including internal suppliers, external suppliers, and syndicated research firms.
Skills for Researchers
- To succeed in the future of marketing research, researchers will need skills such as data analysis, technical skills, and business acumen.
Definition of Market Research
- According to ESOMAR, market research is the objective collection and analysis of data about a particular market, competitors, or consumers.
Target Markets
- Marketers base their 'vision' of target markets on characteristics such as demographic, geographic, and behavioral variables.
Marketing Variables
- Marketing research helps the marketing manager link the marketing variables (4 Ps: product, price, promotion, place) with their environment and customer groups.
Role of the Researcher
- The researcher supports the marketing decision maker by providing insights and data to inform decisions.
Privacy
- According to ESOMAR's definition of market research, personal data shall not be revealed to the user of information without explicit consent.
Test your knowledge about marketing research, its objectives, and the global marketing research industry. Explore the importance of justifying the investment in marketing research and understand the future of marketing.
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