DO NOW – Intro to Market Research 
 •Go to www.quickfacts.census.gov
 •Select “New Jersey” - Click “Go”
 •Select “Hackensack” - Click “Go”
 Imagine you currently own a business or were 
 planning on opening a new business in 
 Hackensack.  What information would be useful 
 and important to you in writing your marketing 
 plan? 
   Marketing Research 
  •Marketing Research – gathering and analyzing information 
  to help make good marketing decisions. 
   •What types of decisions???
    •Product; Price; Place; Promotion
   •What kind of information is used???
    •Target Markets
    •Competition
    •Needs/Wants of Customers 
     Marketing Concept - Customer 
     Satisfaction
   Satisfying Needs & Wants  
       
      Customer Satisfaction       Marketing Research
                      
          
          Profits
  Three Areas of Marketing Research
  1. Customers
   To meet their needs/wants.
  2. Competition
   To be better than the competitors. 
  3. Opportunity
   Identify new opportunities for growth. 
 What questions could be asked to determine each??
      Research Data
   •Data refers to the pieces of information gained through 
    research.
   •Database is an organized collection of data most often in 
    digital form.
     1.   Customer Database
        •Contains information about current and potential 
         customers
     2.   Marketing Research Database 
        •Contains the results of marketing research