Marketing Research Analysis Procedure | MP1030

Marketing Research Analysis Procedure

The Marketing Research Analysis Procedure helps identify your company’s target market through data collection, research, and analysis. The marketing research analysis procedure aims to answer the question, “Who is my customer?”

The Marketing Research Analysis Procedure applies to the CEO and marketing manager. (16 pages, 2440 words)

Marketing Research Analysis Responsibilities:

The CEO (Chief Executive Officer) is responsible for reviewing the market analysis and using the information to help shape the MP1070-1 MARKETING PLAN.

The Marketing Manager is responsible for gathering, reviewing, and analyzing market data and presenting the market analysis to the CEO.

Marketing Research Analysis Definitions:

Correlation – Statistical measures suggesting a causal relationship between two or more variables; a relation existing between statistical variables which tend to vary, be associated, or occur together in a way not expected on the basis of chance alone.

Demographic – (pl.) Statistical characteristics of populations (such as age or income), used especially to identify markets; (sing.) a market or segment of the population identified by demographics.

Grouping – A number of individuals assembled together or having some unifying relationship.

List cleaning – Process of updating a mailing list by correcting or removing names, addresses, etc., because they are incorrect; also called “list scrubbing,” “list hygiene.”

Marketing research – Set of activities designed to connect marketers to consumers through information gathering and evaluation; systematic gathering, recording, and analyzing of data about problems relating to the marketing of products and/or services.

Marketing Research Analysis Procedure Activities

• Objective-The Target Market
• Identifying the Target Market
• Collecting and Organizing Market data
• Analyzing and Interpreting Market Data
• Findings/ Conclusions
• Adjusting the Marketing Database

Marketing Research Analysis Procedure References

• Privacy Act and the Gramm-Leach-Bliley Act (USA)
• Privacy Act and the Personal Information Protection and Electronic Document Act or PIPEDA (Canada)
• The Personal Data Act (Sweden)
• Federal Privacy Act and National Health Act (Australia)
• Telephone Consumer Protection Act (TCPA-USA)
• Can-spam Act of 2003 (USA)

Marketing Research Analysis Procedure Forms

• Market Segmentation Worksheet Form
• Marketing Database Form
• Market Analysis Form