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Table of Contents

  1. Topic pack - Marketing - introduction
  2. 4.1 The role of marketing - notes
  3. 4.1 The role of marketing - questions
  4. 4.2 Marketing Planning - notes
    1. Marketing planning
    2. The marketing mix
    3. The Total Product Concept
    4. Ethics of marketing
    5. Marketing audit
    6. Porter's five forces
    7. Porter's five forces - activities
    8. Marketing objectives
    9. Market research - introduction
    10. The role of market research
    11. Primary and secondary research
    12. Primary research - information gathering techniques
    13. Observations - case studies
    14. Group-based market research
    15. Market research - summary
    16. Questionnaires
    17. Sampling
    18. Methods of sampling - introduction
    19. Main methods of sampling
    20. Sampling errors
    21. Market segmentation
    22. Consumer Profiles
    23. Types of segments
    24. Demographic segmentation
    25. Psychographic segmentation
    26. Psychographic segmentation - case study
    27. Geographic segmentation
    28. Industrial markets
    29. Targeting
    30. Positioning
    31. Corporate image
    32. Position/perception maps
    33. Unique selling point/proposition USP
    34. Marketing strategies and tactics
    35. Sales forecasting
    36. Qualitative forecasting/data
    37. Forecasting and correlation
    38. Forecasting techniques
    39. Constructing time-series analysis
    40. Moving average
    41. Four point moving average - worked example
    42. Identifying the seasonal variation
  5. 4.2 Marketing planning - questions
  6. 4.3 Product introduction - notes
  7. 4.3 Product - questions
  8. 4.3 Product - simulations and activities
  9. 4.4 Price - notes
  10. 4.4 Price - questions
  11. 4.4 Price - simulations and activities
  12. 4.4 Promotion - notes
  13. 4.5 Promotion - questions
  14. 4.6 Place (distribution) - notes
  15. 4.7 International marketing - notes
  16. 4.7 International marketing - questions
  17. 4.8 E-commerce - notes
  18. 4.8 E-commerce - questions
  19. Printable version

Market research - introduction

Marketing is about providing the consumer with the products and services that they want now and in the future. Marketing involves the provision of information, and the persuasion of the consumer to act. It also involves the collection and analysis of information, particularly about the market in which the firm is operating. Market research looks at:

  • The products and services of the business.
  • The products and services of the competition.
  • The desires and wants of actual and potential consumers, now and in the future.
  • The state of the market and the economy, now and in the future.

The purpose of market research is to reduce risk by providing appropriate data to support market planning. Effective planning reduces the likelihood of unwanted products being launched into a market. The main tools of market research are based on data gathering and analysis.

Market research can be expensive, so the firm hopes it is cost effective by positively influencing sales and the 'bottom line'. However, markets and economies are dynamic and external environments volatile. Inevitably some predictions about the consumer behaviour and economic performance may prove to be inaccurate even if well funded and conducted by respected professionals.

The results of market research are available to the whole company, but are particularly useful for the marketing department. A firm does not have to do its own market research; it can use external market research firms that specialise in doing work under contract. They are often part of, or associated with advertising agencies.