Market Research and Marketing Information Systems 4.pptx

it discusses marketing research and marketing information system

1. Market Research Module 4

2. ‹#› Module 4 Market Research and Marketing Information Systems

3. ‹#› Importance of Market Research Definition: The process of gathering, analyzing, and interpreting data about the market. Why It Matters: Understand customer needs. Identify market opportunities. Reduce risks in decision-making.

4. ‹#› Primary and Secondary Data Primary Data: Collected first-hand for a specific purpose. Example: Surveys, focus groups. Secondary Data: Existing data collected for other purposes. Example: Industry reports, government publications.

5. ‹#› Marketing Research Process Define the Problem: Identify the research question. Example: Why are sales of a product declining? Develop the Research Plan: Choose methods (e.g. surveys, focus groups). Example: Conducting focus groups to test a new product concept. Collect Data: Gather primary or secondary data. Example: Use CRM data for customer purchase history.

6. ‹#› 4. Analyze Data: Identify patterns and insights. Example: Analyze survey results to measure customer satisfaction. 5.Present Findings: Share actionable insights. Example: A presentation on why customers prefer competitors’ pricing strategies.

7. Thankyou! Any questions? ‹#›