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Importance of Marketing Research Process

You are a marketing manager who has been asked to present a PowerPoint presentation to your employees on the marketing research process. Prepare at least a 15-slide PowerPoint to explain to your employees about the marketing research process. Your PowerPoint presentation must include the following:

Title and Business Name
What is Marketing Research?
Explain the Importance of Marketing Research.
Describe your marketing goals and objectives.
Explain each of the 6 steps of the marketing research process and be sure to apply them to your presentation.
Making a Decision and implementing your action plan.
List of References using APA format. Include at least three resources, one of which may be your textbook.

Solution Preview

Marketing research is the function of obtaining information to identify and define marketing opportunities. These tasks include generating, refining and evaluating marketing actions and performance in an effort to improve the marketing process. (American Marketing Association).

Marketing research is important because it is essential for companies to identify what marketing tools are working and if there are any gaps. Gaps are known as a lack of information or knowledge about a given area. Examples of this include customer perception of a product, consumer buying habits and determination if an opportunity to market even exists. Research is important because companies need to ensure that the millions of dollars that are spent on sponsorship, commercials and other marketing tools are worth the investment. This information needs to be gathered to make sure the supply and demand are in sync. If there is a low demand for a particular product in a specific area, companies are not going to dish out as much money for a marketing campaign in that area and vice versa. ...

Solution Summary

Marketing research is the function of obtaining information to identify and define marketing opportunities. These tasks include generating, refining and evaluating marketing actions and performance in an effort to improve the marketing process. (American Marketing Association).

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