Business English 2
Dr. Marwa Sayed
Client, Customer, Consumer:
What’s the Difference?
- Client
Someone who uses the professional services of an
individual or company.
- Customer
A person who buys goods or services from a
business (which includes shops).
- Consumer
Someone who buys good and services for their
personal use; or someone who eats or uses
something.
1.3 Marketing Research
1.3.1 Definitions
• - Richard Crisp: “Marketing Research is the
systematic, objective and exhaustive search for
and study of the facts relevant to any problem in
the field of marketing”.
• - Philip Kotler: “Marketing Research is systematic
problem analysis, model building, and fact
finding for the purpose of improved decision
making and control in the marketing of goods
and services”.
• According to the American Marketing
Association (AMA), Marketing Research is the
systematic gathering, recording and analyzing of
data about problems relating to marketing of
goods and services”.
• Market research is the process of gathering
valuable information about the needs of your
target market, consumer behaviors, and market
challenges.
Importance of Market Research
• 1- Improves Sales
Market research provides unique insights into the
expectations of your customers and clients, which helps
you tailor your product to meet their specific needs. This
would ultimately help to increase your sales.
• 2- Identifying New Business Opportunities
With market research, you’d be able to spot untapped
business opportunities in your industry and work on
building a product in line with this. for instance, You can
discover new geographical concentrations for your target
market.
• 3- Reduces Business Risks
As a business owner, your priority should be taking
calculated risks, this can be achieved when you have
knowledge of your industry.
Conducting market research will help you make the right
business decisions..
• 4- Advertising
Market research also improves your advertising by helping
you to identify the best channels to reach your customers.
You’d better understand market demographics and also
know the channels that can give the best returns.
• 5- Competitive Advantage
With better knowledge of market needs and
consumers’ preferences, you’d stay ahead of your
competition.
1.3.2 Features of Marketing
Research
• 1- Continuous process:
Marketing research is not only continuous but also
a scientific and systematic process. It is a
continuous process because every firm is faced
with problems and opportunities.
• 2- Systematic study & scientific process:
It is scientific and systematic because it has well-
defined procedures. It is a process of generating
and evaluating data, and then refining it. It is
professionally organized
3- Applied research
Research conducted to solve specific questions.
E.g consumer behavior and price changes.
4- Wide scope:
Marketing research has a wide scope. It includes
product research, market research, consumer
research, promotion research, international
market research, price research and distribution
research.
5- Aid to decision-making
It helps the managers take practical decisions.
Decisions based on experience and research. Thus,
it's an essential tool for marketing managers and
other functional managers.
• 6- Uncertainty of conclusions
The consumer is the focal point of marketing
research. However, consumer behaviour is difficult
to judge. It is not a physical science, but social
science.
7- Statistical tools:
• Various mathematical and statistical tools are used for
data analysis and interpretation. Percentages, ratios,
averages, z-test, t-test, chi-square tests, etc. are used for
presentation and interpretation of findings.
8- Research approaches:
• A researcher has several options of research
methodology. Methods include the field survey method,
the observation method and the experimental research.
The choice depends on factors such as time availability,
funds, number of respondents to be covered, location of
respondents and literacy levels.
• 9- Links a company to the consumers and
public:
• Marketing research is a function that links a
company to the consumers, customers and
public, through information. It evaluates
marketing actions, marketing performances and
marketing processes. This evaluation results in
collection of information that brings company
closer to its customer and society.
• 10- Art and science.
• 11- Useful to company and consumers
• 12- Covers wide areas of business- small &
medium, professional services, non-profit
organizations, government , profit & service
organizations.
• 13- Online marketing research.
• 14- International (Global) marketing research.
Different Types of Marketing
Research Surveys:
• Marketing research is usually the first step in the
marketing process, small companies conduct
market research to obtain information from the
marketplace. They use it to solve problems, obtain
information on competitors and determine the
needs and wants of consumers and customers.
Marketers then analyze the data and develop
various marketing strategies.
There are several main types of marketing
research:
• 1- The Use of Focus Groups
The ideal size for a focus group is six to 10 people,
the managers can ask participants various
questions about the product and listen to the
feedback about the products and services.
• 2- One-on-One Interviews
One-on-one interviews are conducted in a similar
manner to focus groups, but with one person. One-
on-one interviews go a step beyond typical personal
interviews. Company managers use these interviews
to watch someone actually use their product.
• 3- Conducting Phone Surveys
Companies use phone surveys to further validate
information obtained from focus groups and one-on-
one interviews. Marketers conduct phone surveys
among higher numbers of consumers and customers.
