SENIOR HIGH

Republic of the Philippines

Department of Education
REGION V
Schools Division of Sorsogon
1
Bulan National High School

PRINCIPLES OF MARKETING 2
2nd Semester Week 6
Simplified Module
Name of Student:_______________________________ Date:___________
Grade, Strand & Section:_______________________

MODULE 6: Market Opportunity Analysis and Consumer Analysis

Most Essential Learning Competency:
define marketing research and its importance to a business enterprise; and
identify the steps in marketing research.

According to Philip Kotler, Marketing research ‘is the function linking the consumer, customer and
public to the marketer through information - information used: to identify and define marketing opportunities
and problems; to generate, refine and evaluate marketing actions; to monitor marketing performance; and
to improve understanding of the marketing process.”

Marketing researchers specify the information needed to address marketing issues, design the
method for collecting information, manage and implement the data collection process, analyze the results
and communicate the findings and their implications. Marketing researchers engage in a wide variety of
activities, ranging from analyses of market potential and market shares to studies of customer satisfaction
and purchase intentions. Every marketer needs research.

“function that links the consumer, customer, and public to the marketer through information-information used
to identify and define marketing opportunities and problems; to generate, refine, and evaluate marketing actions; to
monitor marketing performance; and to improve understanding of the marketing process. Marketing research
specifies the information required to address these issues, designs the methods for collecting information, manages
and implements the data collection process, analyzes, and communicates the findings and their implications.”

The Marketing Research Process

1. Identification and definition of Research Problem- This involves

a. Identification of Research Problem
b. Laying down objectives,
c. Determining the extent of information required.
 2. Conducting situational analysis and informal investigation –conducting situational
analysis involves collecting information regarding business environment, market situation,
competitions and industry surrounding the problem in general. An informal investigation
includes an investigation with the people outside the organization like suppliers, wholesalers,
consumers, advertising agencies etc. This is done to determine whether a detailed study is
necessary and feasible or not.

3. Planning and conducting the formal investigation – involve the following: a.

Preparing research design – exploratory, descriptive, casual
b. Selecting the sources of information – primary data or secondary data
c. Deciding methods of data collection – survey, observation, experimentation, online
survey, etc.

4. Analyzing and Interpreting Data – involves classification, tabulation and interpretation of

the data collected. Statistical techniques are used to draw conclusions and make
recommendations of the report.

5. Summarizing the findings and preparing a research report – The last step involves the
preparation of a written report that helps the management to make effective decisions based
on the finding and recommendations of the report.

Importance of Marketing to Business are the following:

 It helps in the formulation of marketing plans, policies and strategy;
 It helps in problem-solving and decision making;
 It acts as a controlling technique for marketing activities;
 It helps to understand market complications and opportunities; and
 It aids in understanding consumer behavior and consumption patterns.

MULTIPLE CHOICE.
Directions: Read the phrases below. Choose the letter of the correct answer that makes the phrases a
complete sentence.

____1. Marketing research provides important ______ to help solve marketing challenges that a business
will most likely face--an integral part of the business planning process
A. Facts B. Events C. Data D. Meaning E. Science
____2. Market research is the _________ of determining the viability of a new service or product through
research conducted directly with potential customers.
A. Way B. Custom C. Process D. Style E. Idea
____3. There are four common types of market research ______ which include surveys, interviews, focus
groups, and customer observation
A. Ignorance B. Lack C. Techniques D. Inability E. Incompetence
____4. The purpose of market research is to ______data on customers and potential customers. The
collected data aids business decision making. This therefore reduces the risks involved in making these
decisions
A. Scatter B. Disperse C. Gather D. Distribute E. Assign
____5. Marketing research specifies the information required to address these issues, designs the methods
for collecting information, manages and implements the data collection process, analyzes, and
communicates the findings and their implications.
A. Techniques B. Ways C. Methods D. Means E. Types

MULTIPLE CHOICE.
Directions: Choose the letter of the appropriate word that makes the sentence correct. Write
your answer on the space provided before each number.

____1. The purpose of market research on customers and potential customers. This aids
business decision making. This therefore reduces the risks involved in making these decisions
a. Reimburse data b. Disperse data c. Gather data d. Distribute data
____2. It specifies the information needed to address marketing issues, design the method
for collecting information, manage and implement the data collection process, analyze the results
and communicate the findings and their implications.
 a. Analyzing and Interpreting Data b. Conducting situational analysis and informal
investigation

c. Market Research d. Summarizing the findings and preparing a research report

____3. It involves collecting information regarding business environment, market
situation, competitions and industry surrounding the problem in general.
a. Analyzing and Interpreting Data
b. Market Research
c. Conducting situational analysis and informal investigation
d. Summarizing the findings and preparing a research report
____4. It involves classification, tabulation and interpretation of the data collected.
Statistical techniques are used to draw conclusions and make recommendations of report. a.
Market Research
b. Conducting situational analysis and informal investigation
c. Analyzing and Interpreting Data
d. Summarizing the findings and preparing a research report
____5. The last step involves preparation of a written report that helps the management to
make effective decisions based on the finding and recommendations of the report. a. Market
Research
b. Conducting situational analysis and informal investigation
c. Summarizing the findings and preparing a research report
d. Analyzing and Interpreting Data

Fill in the blanks

Directions: Write the letter of the correct answer that best completes the sentence in the space provided
before the number.

____1. Marketing research provides important ______ to help solve marketing challenges that a business
will most likely face--an integral part of the business planning process
A. Facts B. Events C. Data D. Meaning E. Science

____2. Market research is the _________ of determining the viability of a new service or product through
research conducted directly with potential customers.
A. Way B. Custom C. Process D. Style E. Idea

____3. There are four common types of market research ______ which include surveys, interviews, focus
groups, and customer observation
A. Ignorance B. Lack C. Techniques D. Inability E. Incompetence

____4. The purpose of market research is to ______data on customers and potential customers. The
collected data aids business decision making. This therefore reduces the risks involved in making these
decisions
A. Scatter B. Disperse C. Gather D. Distribute E. Assign

____5. There are two _____ of marketing research: Quantitative and qualitative. Quantitative research
usually includes phone, mail, Internet or in-person interviews.
A. Techniques B. Ways C. Types D. Means E. Methods

Directions: Write a reflective learning on the (topic) by answering the questions inside the box. You
may express your answers in a more critical and creative presentation of your great learning. Write
your answer in yellow pad or bond paper.
 Marketing research provides important data to help solve marketing challenges that a business
will most likely face--an integral part of the business planning process. It is the process of determining
the viability of a new service or product through research conducted directly with potential customers.

In other words, the purpose of market research is to gather data on customers and potential
customers. The collected data aids business decision making. This therefore reduces the risks
involved in making these decisions.

There are four common types of market research techniques which include surveys, interviews,
focus groups, and customer observation.
Surveys are most frequently used by researchers, they ask users a short series of open- or closed-
ended questions, which can be delivered as an on-screen questionnaire or via email. Interviews are
one-on-one conversations with members of your target market. These can be done face-to-face or
online.

Focus group discussions is about bringing together a carefully selected group of people who fit a
company’s target market. There is a moderator that will lead the flow of the group discussion and
question and answer activities.

A researcher will be observing the customer and reads its verbal and non-verbal communication
or activities to gain the study needed by the organization.

There are two main types of marketing research: Quantitative and qualitative. Quantitative
research usually includes phone, mail, Internet or in-person interviews.

Quantitative data can be counted, measured, and expressed using numbers. While, Qualitative
data is descriptive and conceptual. Qualitative data can be categorized based on traits and
characteristics.

References
Bbamantra, B. (2017, August 30). Market Research - Objectives, Types, Process, Techniques, Importance. Retrieved June 25,
2020, from https://bbamantra.com/market-research-process-techniques/
Business, Case Studies (2019, January 28). Why Target Marketed Research Is So Important In Digital Marketing. Retrieved June
25, 2020, from https://businesscasestudies.co.uk/why-target-marketed-research-is-so-important-in-digital-marketing/
Farnsworth, B. (2019, June 11). Qualitative vs Quantitative Research – What Is What? Retrieved June 25, 2020, from
https://imotions.com/blog/qualitative-vs-quantitative-research/
Garrovillas, Eduardo P (2007), Out of the Box Marketing Principles, that work and make sense. Books Atbp. Publishing Corp
Go, Josiah (1996). Contemporary Marketing Strategy in the Philippine

Prepared by: Checked and Reviewed by:

MICHAEL F. AREVALO RAWDEM BITANGCOR

Subject Teacher Subject Group Head - ABM

Noted:

MARIVIC A. AÑONUEVO
Assistant School Principal II – SHS

Approved:

SALVE E. FERRERAS
Secondary School Principal III