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;;; The Marketing Research System

Marketing managers Often commission formal marketing studies of specific problems am! opportunities. They may request a market survey, a product-preference test, a sales forecast by region, or an advertising evaluation, it is the joh of the marketing researcher to pnntfiice insight into the customers altitudes and buying behavior. We define marketing research as the systematic design, collection, analysis, and reporting of datet and findings relevant to a specific marketing situation facing the company. Marketing research is now about a SI 6-5 billion industry globally, according to KSOMAH. the World Association of Opinion and Market Research Professionals.

A company can obtain marketing research in a number of ways. Most large companies have their own marketing research departments, which often play crucial roles within the organization.2

PROCTER & GAMBLE

P&G's large market research function is ca'led Consumer & Market Knowledge (CMK), lis goal is to bring consumer insight to decision making at all levels. Dedicated CMK groups work lor PSG businesses amund the world, including Global Business Units (GBUs). which focus on long-term brand equity and initiative development, and Market Development Organizations [MDOsi, which focus on local maifcet expertise and retail partne*stiips. There is also a relatively sma'ler, centralized corporate CMK group which. in partnership vwttl the line businesses, focuses on three Kinds of work- (t) proprietary research methods development, 12| expert application of. and cross-business learning from, tore research competencies, and (1) shared services and infrastruclure. CMK leverages Iradilionai research basics such as brand tracking. CMK also fnds, invents, or co-deviilops lead nig-edge research approaches such as experiential consumer contacts, proprietory modeling methods, and scenario-planning or knowledge synthesis events. CMK professionals canned market insights from all liaise sources to shape company slrategies and decisions- They influence day-to-day operational choices, such as which product formulations are launched, as well as ■ long-term plans, sucn as wtich corporate aoouisiiwns best round out the product portfolio.

Vet. marketing research is not limited to large companies with big budgets and marketing research department«. At much smaller companies] marketing research is often carried out by everyone in the company—and by customers, too.

Karmaloop bills Ilsell as an online urban boubtjue, and it has built its reputation as a top shop for Fash ion istas because oi its relentless tracking of irendsetters. The five-year-old Boston company has made sireetwear (ash-ion a scicncc by keeping labs on young lastem.ikers' buying habits. hi addition to its crew of 1 f> moonlighting artists, DJs.and designers. Karmaloop recruits street leam members to ferret out new trends and to spread Ihe word about Kanmalo&p brands. The street teams, which now boast 3.000 reps, pass out lliers and stickers at m nightclubs, concerts, and on the siree!, twl also report on what they see at events, in the way ol trends.J

Companies normally budget marketing research ail to 2 percent of company sales. A large percentage of that is spout on fltß services of outside firms. Marketing research firms Fail iniu three categories:

Online Survey Champion

Online Survey Champion

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