steps to the marketing research process

first step to the marketing research process

Define the problem

second step to the marketing research process

conducting preliminary research from both internal and external source

third step to the market research process

form a hypothesis

fourth step to the marketing research process

creating a research design and decide upon primary or secondary data or both

fifth step to the marketing research process

collect data

sixth step to the marketing research process

be able to interpret the data and make a decision

social class

not determined by a single factor but determined by a combination of characteristics that include occupation, education, wealth and other important variables.

Culture

is the complex of learned values and behaviors that are shared by society and designed to increase probability of that society survival.

Hypothesis

tentative explanation

Mainstream cultural values

important because they reflect the values of society and is easier to sell product or service with consistency and established values.

Marketing research

beneficial to the organization when aiding the decision markets with pertinent facts, analyzing those fact and struggling possibilities course of action.

Reference Group

Made up of people that have direct or indirect influence over our behavior and attitudes.

Syncratic

Decisions made by the family unit and would include vacations, auto and houses.

Autonomic

decisions made individually and independently and would include toothpaste, deodorant and type of drinks.

Husband Dominant

Decisions that include life insurance, TVs, Car batteries and tires.

Wife Dominant

Decisions include family specifics

Market segmentation

involves breaking the entire market into smaller homogenous groups that will respond in similar fashion to offering and promotion.

homogenous

groups that are similar as far as same sex, education, income, family status, same cultural groups and social groups

Need

is perceived imbalance between a persons actual and desired states.

Vals 2

psychographic segmentation of a population that divides that population into that have similar psychological characteristics, values and lifestyles.

the importance of vals 2

helps determine the need and want of specific groups and how best to promote to each of these groups. Also informs the marketing department which of the p’s are most important per group.

Market

consist of a group of people with sufficient purchasing power, authority to make buying decisions and willingness to buy.

perception

the meaning that we place upon incoming stimulus. Our perception is based on two factors.

Stimulus factor

size, color, feel, weight, shape

Individual factors

based largely on our previous experience with this type of offering.

Subliminal Perception

the subconscious receipt of the perception factor mentioned above