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1.1 LEARNING OBJECTIVES
LO 3-1 Describe the difference between market information systems and market research
systems.
LO 3-2 Identify how critical internal (inside the firm) information is collected and used in
making marketing decisions.
LO 3-3 Explain essential external (outside the firm) information collection methods.
LO 3-4 Recognize the value of market research and its role in marketing.
LO 3-5 Define the market research process.
LO 3-6 Illustrate current research technologies and how they are used in market research.
1.2 Chapter Outline
I. MARKET INFORMATION SYSTEM
The nature of a Market Information System
Internal Sources - Collecting Information inside the Company
From the Customer’s Order to Order
Fulfillment
Heard on the Street – Sales Information
System
External Sources - Collecting Information outside the Company
Demographics
Economic Conditions
Natural world
Political/Legal Environment
Competition
II. MARKETING RESEARCH SYSTEMS
The Importance of Market Research to Managers
The Marketing Research Process
Define the Research Problem
Establish the Research Design
Type of Research – What kind of
research needs to be done?
Nature of Data – What kind of data do
we need?
Nature of data collection – How should
the data be collected?
Information Content – What do we need
to know?
Search Secondary Sources
Collect the Data
Analyze the Data
Report the Findings
Market Research Technology
Online Research Tools
Statistical Software
Market Research Challenges in Global Markets
Secondary Data
Primary Data
III. SUMMARY
