In this lecture, I will be giving you an overview of marketing research. We will begin with the definition of marketing research, highlight the importance of marketing research to management to be able to understand the ever-changing marketplace. We will link this “need to know” to the need for the marketing researcher to take a proactive role in the company and discuss many of the uses of marketing research.
In this lecture we will focus on the first two of the three primary data collection methods observation and experimentation. Starting with observation, we will discuss the various approaches to observation research and its advantages and disadvantages. I will also go over human observation and the relatively new method of ethnographic research. Many of the methods of machine observation including tracking and virtual reality an augmented reality marketing research will be featured. The experimental research section will define experimental research and discuss test markets.
To create effective marketing strategies that connect with your target, leveraging the opportunities in your industry which utilize your company’s strengths most effectively, you must first understand the environment in which marketing operates. In this lecture, I will present an overview of the entire marketing research process; problem definition, research design, sampling, collecting, analyzing the data and finally, presenting the report. I will also discuss all the components for creating a research request and a request for proposal.
In this lecture, we delve into them anyways we can get into insights into the consumers buying process through qualitative research. we will go over the uses of qualitative research the limitations and spend a good part of the discussion on the most popular method, focus groups.
Explaining how we use the secondary data to develop marketing research proposals will be the focus of this lecture. All the types of secondary data collection methods will be overviewed as well as discussing how Big Data breakthrough and marketing analytics are moving to the forefront and modifying the research process.
The marketing strategy and planning are all guided by the organization’s overall strategic plan. We will first discuss those strategies and the importance of partnerships in creating customer value. We will then examine how the choice of target markets influence a myriad of decisions in the development of the marketing offerings, mix and program.
In our final lecture, we will put it all together and review all the concepts as we go through all the elements of the full marketing plan report. We will review the marketing management functions including how to prepare the report. The importance of control; measuring and managing the marketing return on investment (MROI) as well as other marketing metrics will be explained.
Explaining how we use the secondary data to develop marketing information systems will be the theme of this lecture. How to develop those marketing information system and acquire the data points to help management develop actionable customer insights will be emphasized. As well as the different research options to collect, manage, and analyze data about crucial elements in their market space.
In this lecture, I will be giving you an overview of the principles of marketing. The marketing process will be where we start to demonstrate a relationship between several concepts we will be discussing, during this LECTURE series. Marketing at its most basic level aids in the exchange of value between producers and consumers and whenever two parties exchange, they have a relationship. In the first lecture, the focus will be on the aim of marketing, to generate profitable relationships, by understanding customer needs, designing customer-driven marketing strategies & managing those connections.