Slide 1: Title Slide

● Title: "Market Research in Business"

● Subtitle: "Understanding Markets, Customers, and Competitors"
● Additional Details: Add your name, subject, and date to personalize the presentation.
● Elaboration: Introduce market research as a foundational process that companies use
to gain insights into consumer needs and market dynamics, critical for making
well-informed business decisions.

Slide 2: Introduction to Market Research

● Definition: Market research is the process of gathering, analyzing, and interpreting data
about a market. It focuses on understanding potential customers, competitors, and
market conditions to make strategic decisions.
● Purpose: The main goals are to identify customer needs, assess market size, recognize
trends, and understand the competitive landscape.
● Real-World Example: Starbucks tailors its products globally based on local
tastes—such as offering green tea flavors in Asia and pumpkin spice in North America.
This alignment is guided by data from research into regional preferences.

Slide 3: Purpose of Market Research

● Market Size: Understanding if a target market is large enough helps justify business
investments, especially when launching new products or expanding.
● Competitive Analysis: Market research helps a company assess its competition,
understand market entry barriers, and identify areas to differentiate itself.
● Growth Potential: It identifies market trends that hint at potential growth, providing
valuable data on whether a market is expanding or shrinking.
● Real-World Example: Netflix uses audience preferences and regional viewership data
to decide on investments in content, such as increasing its budget for Korean dramas
based on popularity across various regions.

Slide 4: Need for Market Research

● Reducing Launch Risks: Research on customer expectations can guide product

design, reducing the likelihood of a failed product launch.
 ● Predicting Demand: By observing economic trends and shifts in consumer preferences,
companies can anticipate demand changes, helping them adjust production and
inventory.
● Real-World Example: Apple conducts extensive consumer surveys to identify which
new features are most desired in an iPhone, such as camera improvements, ensuring
each launch aligns with customer expectations and trends.

Slide 5: Market Research and New Product Development (NPD)

● Consumer Needs: Market research identifies gaps in the market and specific demands,
allowing companies to design products that directly address these needs.
● Testing Product and Packaging: Businesses use feedback from test markets or focus
groups to refine product designs or packaging before full launch.
● Brand Positioning and Advertisement: Helps companies confirm that their brand
image and marketing efforts match consumer expectations.
● Real-World Example: Coca-Cola introduces new flavors like "Cherry Coke" in test
markets, using customer reactions to decide on broader releases.

Slide 6: Primary Research

● Definition: Primary research is data collected directly by the business from consumers
through methods like surveys, interviews, and focus groups. This data is specific to the
business’s needs.
● Benefits: It provides current, relevant, and often exclusive information.
● Drawbacks: It’s more expensive and time-intensive than secondary research, with
challenges in sample sizes or data collection accuracy.
● Real-World Example: Tesla gathers direct feedback from customers who test-drive their
cars to get insights on features, helping them improve vehicle designs based on actual
consumer experiences.

Slide 7: Primary Research Methods

1. Questionnaires: Allows for large-scale data collection, though response rates may be
low.
2. Interviews: Offer detailed insights but require significant time and resources.
3. Observation: Observing consumer behavior offers authentic insights, though the
presence of researchers may influence actions.
4. Test Marketing: Launching in a limited area helps gauge customer response before
committing to a full rollout.
 5. Focus Groups: Brings small groups together for discussions, capturing diverse
perspectives.
● Real-World Example: IKEA uses focus groups to test new furniture concepts, collecting
feedback on design and functionality to refine products.

Slide 8: Secondary Research

● Definition: Secondary research involves using existing data from sources such as
government reports, industry publications, and company records.
● Advantages: It’s more cost-effective and quicker, allowing businesses to get an
overview of market conditions.
● Drawbacks: Data may be outdated or not directly applicable to specific business needs.
● Common Sources: Government databases, trade publications, company records, and
online resources.
● Real-World Example: Retailers like Walmart utilize demographic data from government
reports to tailor store products to local customer demographics.

Slide 9: Market Research Process

1. Define Objective: Setting a clear purpose focuses the research efforts.

2. Research Design: Deciding on the type of research (primary, secondary, or mixed) that
best suits the objective.
3. Prepare Instruments: Creating tools like surveys, interview guides, or observation
checklists.
4. Sampling: Selecting a representative sample to ensure findings are accurate for the
target population.
5. Data Analysis: Compiling and interpreting the data to generate insights, often visualized
in charts or graphs.
● Real-World Example: Before expanding to new regions, Amazon studies local
consumer habits and competitors to adapt its products and marketing.

Slide 10: Electronic Market Research in Recent Years

● Mobile Surveys: Used for real-time feedback, accessible and quick to implement, and
often linked to recent purchases.
● Loyalty Cards: Allows businesses to monitor customer buying behavior, providing
insights for personalized marketing.
● Social Media: Real-time data on trends and customer preferences, offering an
interactive way to engage and respond to consumers.
 ● Real-World Example: Starbucks tracks consumer buying patterns through its loyalty
app, customizing promotions and offers based on individual preferences.

Slide 11: Evaluating Quantitative Data Methods

1. Mean: Shows average sales or customer ratings, helping set standard expectations.
2. Mode: Reveals the most common responses or preferences, useful for inventory
planning.
3. Median: Central value helps assess the typical response, minimizing outlier impact.
4. Range: Indicates response variety, helping understand market consistency or diversity.
● Real-World Example: A clothing retailer calculates average seasonal sales across
stores to plan promotions or adjust stock levels.

Slide 12: Evaluating Qualitative Data Methods

● Tables: Enable comparison between data sets or groups, useful for identifying patterns.
● Pie Charts: Visualize proportions, such as demographic splits or customer preferences.
● Line Graphs: Track changes over time, useful for seeing seasonal trends or product
demand over quarters.
● Bar Charts: Allow side-by-side comparison of quantities across categories, such as
sales by region.
● Real-World Example: Websites use dashboards with visuals to analyze user data,
helping e-commerce sites tailor their content based on visitor trends.

Slide 13: Conclusion and Key Takeaways

● Role of Market Research: It empowers businesses to make data-backed decisions,

improving customer alignment and market positioning.
● Future Trends: Digital tools are expanding research capabilities, making data collection
faster and more precise.
● Final Thought: Successful products and customer satisfaction often stem from
well-conducted, insightful market research.
● Real-World Example: Nike continuously uses market research to stay aligned with
changing consumer tastes in sportswear, guiding their design and marketing.

Slide 14: Thank You Slide

● Closing Statement: “Thank you for your attention! Any questions?” This is an invitation
for the audience to ask questions and engage with the content.