Introduction to the Marketing Research Process What you’ll learn to do: outline a standard process for using marketing information and research to address an organization’s strategic questions Marketers can glean powerful insights from marketing information, but these insights generally don’t come from nowhere. Instead, it takes a well-structured research process to identify what you are trying to understand better and then take the appropriate steps, using the right information, to get your questions answered.… Read More »Introduction to the Marketing Research Process

Marketing Research Marketing research is a systematic process for identifying marketing opportunities and solving marketing problems, using customer insights derived from the collection and analysis of marketing information. Marketing research identifies the problem to be solved or the opportunity to be explored, as well as the information required to address research questions. It also involves processes for collecting the information, analyzing it, identifying insights, and reporting findings and recommendations to those who… Read More »Marketing Research

Competitive Intelligence Competitive intelligence is marketing information that helps marketers and other members of an organization better understand their competitors and competitive market dynamics. Common types of competitive intelligence include the following: Product information: Who is making products that compete with your offerings? What features or capabilities make these products attractive to prospective customers? How do these features compare to yours? How are products packaged and offered to customers? Market share… Read More »Competitive Intelligence

Types of Marketing Information LEARNING OBJECTIVES Explain the types of insights provided by each type of marketing information Describe how organizations manage marketing information Illuminating the Marketing Picture There are three primary types of marketing information marketers use to gain insights that will contribute to wise marketing choices: internal data, competitive intelligence, and marketing research. Internal Data Internal data consists of the information companies collect about their customers and prospective customers, typically as part of their internal operations.… Read More »Types of Marketing Information

Introduction to Types of Marketing Information What you’ll learn to do: describe key types of marketing information including internal data, competitive intelligence, and marketing research Marketing information and research are most effective when they feed an ongoing awareness of what’s happening with customers, their perceptions, and purchasing decisions. The next section of this module explores different types of information that contribute to the customer insights that inform your organization, strategy, and… Read More »Introduction to Types of Marketing Information

Case Study: Juicy Fruit Gum LEARNING OBJECTIVES Explain why organizations use marketing information to provide customer insights Discovering Why They Chew Back in the nineties, Juicy Fruit Gum, the oldest brand of the Wm. Wrigley Jr. Company, was not chewing up the teen market, gum’s top demographic. In 1997, the company found itself under pressure from competitors. Sales and market share were down. How could Wrigley get more kids to go… Read More »Case Study: Juicy Fruit Gum

The Importance of Marketing Information and Research LEARNING OBJECTIVES Define marketing information Explain why organizations use marketing information to provide customer insights Fresh Customer Insights Effective marketing starts with a strong knowledge of your customers: the kind of knowledge that gives you unique insights into what they want and how to satisfy them better than the competition. The most reliable source of fresh customer insights is good marketing information. Useful marketing information… Read More »The Importance of Marketing Information and Research

Introduction to Importance of Marketing Information What you’ll learn to do: explain the role of marketing information in helping organizations understand and reach customers Marketers are fortunate to work in an information-rich environment. They don’t have to make decisions based on gut feeling or blind luck. These days, many valuable sources of marketing information are available to guide marketers’ thinking, choices, and actions. While it’s true that this information may be more… Read More »Introduction to Importance of Marketing Information

Why It Matters: Marketing Information and Research Why learn about marketing information and research? Your uncle Dan owns an independent bookstore called Bookends in Seattle, Washington. You drop in to see him whenever you’re in the neighborhood to catch up and borrow some graphic novels. (That’s you in the picture.) When you visit this time, Dan sits you down in a corner and tells you he needs help. “Sales are down,” he says, “and rent’s going up. It’s killing… Read More »Why It Matters: Marketing Information and Research

Putting It Together: Ethics and Social Responsibility In this module we’ve covered a range of different corporate ethical challenges, legal requirements, and opportunities to contribute to social good. Every year, a company called Ethisphere provides a through review of businesses seeking to gain recognition for being upstanding corporate citizens. (See the full list of honorees.) The review process captures company performance in five areas, but in order to be honored, the companies must… Read More »Putting It Together: Ethics and Social Responsibility