Marketing Research II

Marketing Research II

​Recap-Marketing Information Management

• ​the process of gathering, organizing, and analyzing important market research data

• ​taking our research and putting it to use

​Trend Research

​•A trend is an emerging pattern of change

•A marketing trend is a pattern of change in consumer behavior that leads to changes in the marketing mix

•A fad is something that is very popular for a short time and dies out quickly

•Marketers interested in three types of trends

–Social

–Demographic

–Product

​Trend Research

​•Social trends are the patterns of change in society as a whole

–Often lead to changes in consumer behavior

–A major social trend is the availability and integration of technology into our daily lives

​Trend Research

​•Product trends are changes in current product features or new products being developed

–Marketers must know these trends to meet customer needs

–Trend in electronic devices is toward interactive, wearable designs

Multiple Choice

Social trends are patterns of _________ in society as a whole.

• transition

• change

• stagnation

• behavior

Multiple Choice

A ________ is something that is very popular for a short time but dies off quickly.

• social trend

• fable

• marketing trend

• fad

​Trend Research

​•Demographics are the qualities of a specific group of people, such as age, gender, and income

–Demographic trends are changes in the size of different segments of the population

–Often bring changes in product preferences-Jitterbug Flip Phone-in 10 years

​Marketing-Information System (MkIS)

​•A marketing-information system (MkIS) is the organized system of gathering, sorting, analyzing, evaluating, distributing, and storing information for marketing purposes

–Provides marketing intelligence so decisions can be made and problems can be solved

–Database marketing consists of gathering, storing, and using customer data for marketing directly to customers, based on their histories

Open Ended

What is Marketing Information Management?

Multiple Choice

The benefits of using Primary Data include all of the following, EXCEPT:

• The data is new and fresh

• The data was tailored to my needs

• The data was obtained through an outside source

• The data was obtained on my time schedule

Open Ended

What is sample size?

Open Ended

How are trends different from fads?

Multiple Choice

An example of a quantitative research question would be:

• What do you like about our perfume?

• How many sprays do you use when applying our perfume?

• What made you purchase our product?

• What do you look for in a scent of perfume?