MARKETING RESEARCH FOR NEW PRODUCT DEVELOPMENT:
PROCESS OF COLLECTING AND USING INFORMATION FOR MARKETING DECISION MAKING
PURPOSE OF RESEARCH:
THE PURPOSE IS TO HELP US MAKE DECISIONS, NOT LET THE DATA MAKE DECISIONS FOR US
FOR EXAMPLE SONY WALKMAN
TWO TYPES OF RESEARCH DATA:
1.PRIMARY
2.SECONDARY (COULD BE DIFFICULT WITH A NEW TO THE WORLD PRODUCT)
DO IT YOURSELF?
DO SOME OF IT YOURSELF?
OUTSOURCE IT?
TWO VARIABLES THAT IMPACT THOSE QUESTIONS ARE:
1.COST
2.CAPABILITY
STEPS IN THE MARKETING RESEARCH PROCESS:
1.DEFINE THE OPPORTUNITY OR
PROBLEM
2.CONDUCT EXPLORATORY
RESEARCH
3.FORMULATE A HYPOTHESIS
4.CREATE THE RESEARCH DESIGN
5.COLLECT THE DATA
6.INTEPRET AND PRESENT THE DATA
PRIMARY RESEARCH METHODS:
1.OBSERVATIONS
VIDEO, TRAVEL WITH
SALESPEOPLE, TECHNOLOGY
2.SURVEYS
IN PERSON, TELEPHONE,
FOCUS GROUPS, MAIL,
FAX ON-LINE, CUSTOMER
INPUT
3.EXPERIMENTAL
MARKET TEST
RESEARCH INPUT GOES INTO A SYSTEM
CALLED A MARKETING INFORMATION SYSTEM (MIS)
APPLY SOFTWARE TO THE MIS AMD YOU GET A MARKETING DECISION SUPPORT SYSTEM (MDSS)
THEN YOU CAN DEVELOP…….
SIMULATIONS
MODELING
GRAPHICS
GENERAL WHAT IF SCENARIOS
NOW YOU HAVE DATA TOHELPYOU MAKE MARKETING DECISIONS ABOUT A NEW PRODUCT LAUNCH
SAMPLING FROM A UNIVERSE OR
POPULATION:
TWO TYPES:
1.PROBABILITY
2.NON-PROBABILITY
(QUALITATIVE AND QUANTITATIVE)
GLOBAL RESEARCH:
NEEDS TO BE DONE
PRINCIPLES STILL APPLY
IMPLEMENTATION IS DIFFICULT
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