Market ResearchMarket Research

What is it?What is it?

Process of collecting information and Process of collecting information and using it to make good using it to make good (marketing/business) decisions(marketing/business) decisions

Various ways to collect data Various ways to collect data Can use public information or private Can use public information or private

informationinformation Primary or secondary informationPrimary or secondary information

Examples…Examples…

Who has provided some personal Who has provided some personal information to a company within the information to a company within the last week? How?last week? How?

What are some other ways What are some other ways companies collect information and companies collect information and data about you as either a customer data about you as either a customer or potential customer?or potential customer?

ExamplesExamples

Mail-in RebatesMail-in Rebates Online Rebates Online Rebates Warranty CardsWarranty Cards Free stuff (products, subscriptions)Free stuff (products, subscriptions)

Many ways of collecting dataMany ways of collecting data

Advantages vs. DisadvantagesAdvantages vs. Disadvantages– Personal interviewsPersonal interviews– Focus groupsFocus groups– MailMail– POS terminalsPOS terminals– TelephoneTelephone– Surveys (questionnaires)Surveys (questionnaires)– User names & passwords on websitesUser names & passwords on websites

Any others?Any others?

ProcessProcess

ReferencesReferences

Pg 136 Sauder Wood ProductsPg 136 Sauder Wood Products Radford College Student exampleRadford College Student example Car Wash StudyCar Wash Study Census.govCensus.gov