The Business CycleStrategic Planning

SWOTMarketing Research

Legal Implications and Laws

Marketing Principles – Fall 2011

MARKET PLANNING

Key Terms Business Cycle Competitive Practice Laws Consumer Protection Laws Strategic Planning-SWOT Marketing Information System (MKIS) Data Mining Primary Data Secondary Data Marketing Research Process Exploratory Research Conclusive Research

Recognize the Insides of these Restaurants?

Mcdonalds

Pizza Hut-

What made these companies start to change the interiors of their businesses?

DATA…..Market Research

Marketing Information Systems

MKIS- A system designed to regularly collect data that will be used to make marketing decisions

Read pg 277 OVERSTOCK

List 4 types of data they collect How does Overstock treat customers

who searched for discount differently How is Sales data by Zipcode helpful for

a company?

How do you get back to Expansion?

Strategic Planning-SWOT

COKEBRANDS

SWOT-School Store

Convenient LocationCheap LaborUnique ProductsVarietySpecific Tgt

v

DATA Mining Using statistical analysis to uncover

pattern to help make marketing decisions

If you were a garden retailer and you found out that 25% of the time that customers who bought a garden hose, also bought a sprinkler….what marketing would you do?

The marketing research process

Define Objectives

Design the research Project

Data Collection

Analyze Data

Present Results

Homework. E-mail Answers To Mr. Fassl

You are an entrepreneur looking to start a new Salon. The problem is you don’t know how the salon industry is doing in your town, or even if there is a market for a new salon.

Use the internet to find 3 Google tools that will help you to conduct market research. (list them, then explain how each will help

you) Find three pieces of data from the

GOVERNMENT that can help you to determine if the market is right for you. List the location and the data, explain how it

will help you!

Virtual Business Lesson 6- Market Research Complete lesson(start with tutorial) Answer the 5 questions. Questions

1) What products do customers need most often? 2) In what section of the city do most people live? 3) What products do students need? 4) Using the diagram, in what section of the city

do most seniors live? 5) Using the diagram, in what section of the city

do most customers of John’s store live?

Types of Data Primary Data – Data collected for

specific research needs.(collected 1st hand)

Secondary Data- Data already collected from other sourcesType Examples Advantages Disadvantages

Secondary Research

• Census Data• Sales invoices• Internet

information• Books• Journal articles• Syndicated Data

• Saves time in collecting data because they are readily available

• Reduces data collection cost

• May not be relevant to data needs

• Not timely• Trusted sources• Collection

techniques

Primary Research

• Observed customer behavior

• Focus Group interviews

• Surveys

• Specific to your data needs

• Immediate• Offer behavioral

insights.

• More costly• Takes longer• Experience

designing survey instrument

• Validlity

Data Collection Research

Data Collection

Exploratory Research• Observation• Focus Groups• In-Depth Interviews• Projective Techniques

Types of Research

Conclusive Research• Experiments• Scanner• Survey• Panel

Developing Survey Questions http://

www.keene.edu/crc/forms/designingsurveysthatcount.pdf

Handout pg ___

Marketing Applications A bathroom fixture supply store is trying

to determine if there is a significant market for its type of merchandise in a specific location for a store. Should they use primary or secondary data or a combination? Explain.

Marketing applications A bank manager notices that by the

time customers get to the teller, they seem irritated and impatient. She wants to investigate the problem further, so she hires you to design a research project to figure out what is bothering customers. What type of research method would you recommend? Why? Is it exploratory or conclusive?

Marketing Applications PomWonderful has developed a coffee-

flavored pomegranate beverage, and it wants to determine if it should begin to market it throughout the United States. The company used two separate studies for the advertising campaign: A focus group to identify the appropriate

message for the new beverage A survey to assess the effectiveness of the

advertising campaign for the new PomWonderful beverage.

Which Study was exploratory and which was conclusive? What other studies would you recommend PomWonderful undertake?

Net Savy Visit the epinions.com website. They

are a clearing house for consumer review's about different products and services. Think of a particular business with which you are familiar and review the ratings and comments for that business. Provide three conclusions about the data

and the extent to which this data might be useful to a marketer for that company.

Market Research Project

I. Choose a business to useII. Conduct SWOT based upon data/researchIII. Determine Objective of your SurveyIV. Develop a Survey InstrumentV. Conduct SurveyVI. Analyze Results/create graphsVII. Develop recommendations for changeVIII. Prepare PREZI presentation of project.