About This Chapter
Market Research and Segmentation - Chapter Summary
The online lessons in this chapter will show you what marketing research is, how it functions and the reasons why businesses rely on it. You will learn how to set up a marketing research project, including what type of data is useful. The videos will show you about various methods for collecting and interpreting the data for marketing purposes. Other lessons explore why marketing segmentation is important to businesses. Types of marketing segmentation are examined in these lessons, and you will learn how to segment markets. By the close of this chapter, you will have an understanding of the following market research and segmentation topics:
- The definition, purpose and role of marketing research in business
- How to establish a marketing research project
- Data collection methods
- Data interpretation methods
- Why market segments are important to marketers
- Types of market segmentation, including geographic, demographic and psychographic
- Step-by-step ways to segment business markets
Experienced, entertaining instructors lead you through the topics in these concise video lessons, using examples from the business world to illustrate their points about marketing research and segmentation. Each engaging lesson contains video tags that make it easy to find key topics and passages for further review, and you can assess what you've learned by taking the multiple-choice quizzes that are included at the end of the videos.
1. Marketing Research: Definition, Purpose and Role in Marketing Strategy
If you're a business owner, you need to know your clientele. Watch this lesson to understand the purpose and role of marketing research strategy in an overall marketing plan. This might be just the info you need!
2. How to Establish a Marketing Research Project
Most consumers don't realize how much behind-the-scenes research and analysis goes into the marketing of a product. With millions of dollars at stake, marketers must use information available to formulate a key marketing plan, decision or change in strategy.
3. Business Intelligence (BI): Organizing, Categorizing and Accessing Data
Business Intelligence uses specialized information systems to gain a competitive edge in the marketplace. Learn about some of the specific tools used in Business Intelligence.
4. Statistical Analysis: Using Data to Find Trends and Examine Relationships
Many different organizations use statistical analysis to describe and analyze data and to predict future trends. Learn about the different types of statistics in this video lesson.
5. Market Segmentation: Why Market Segments Are Important to Marketers
Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!
6. Market Segmentation: Geographic, Demographic, Psychographic & More
Marketers must be effective at creating niche segments to promote and sell their products or services. There are five specific ways that markets can be segmented in order to create a successful sales opportunity.
7. How to Segment Business Markets Step-by-Step
Discover the four segments of business marketing in this lesson. You will also learn the distinguishing characteristics of each segment so you may easily identify each of them.
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Other chapters within the High School Marketing for Teachers: Help & Review course
- How Organizations are Structured & Designed
- General Business Management
- Ethics and Social Responsibility in Organizations
- Business Law & Regulation
- Economic Basics
- Business and the Economy
- The Economy and the US Government
- Entrepreneurship & Types of Businesses
- Marketing Basics
- Product Pricing & Selling
- Product Development & Distribution
- Promotion & Advertising
- Selling & Customer Service
- Strategic Planning for Marketers
- Global Business Strategies and Challenges
- Business Communication
- Business Analytics
- Computer Basics for Business
- The Internet and Business
- Marketing Education
- Career Planning for High School Students
- Laying the Foundation for a Marketing Career
- Marketing Employment Skills
- Marketing Career Stages
- Marketing Instruction & Assessment