1. The Role of Marketing Research (LO 9-1, PPT Slide 3, DISC: Research)
a. Marketing research is the process of planning, collecting, and analyzing data
relevant to a marketing decision. Marketing research:
• Is the function that links the consumer, customer, and public to the marketer
b. Marketing research has three roles: descriptive, diagnostic, and predictive. Its
descriptive role includes gathering and presenting factual statements. Its diagnostic
role includes explaining data. Its predictive function is to address “what if”
questions.
c. Management Uses of Marketing Research: Marketing research can help
managers:
• Improve the quality of decision making
d. Understanding the Ever-Changing Marketplace: Marketing research helps
managers to understand what is going on in the marketplace and to take advantage
of opportunities. One of the hottest trends in technology today is the Internet of
Things (IoT), which refers to everyday devices—such as refrigerators, toys, light
2. Steps in a Marketing Research Project (LO 9-2, PPT Slide 10, DISC: Research)
a. The marketing research process is a scientific approach to decision making that
maximizes the chance of getting accurate and meaningful results. Exhibit 9.1 traces
the seven steps in the research process.