Marketing Research

Definition : Market Research is the Function that links the Customer, Consumer and Public to the Marketer through information, which is used to identify and Define MARKETING PROBLEMS and MARKETING OPPURTUNITIES. In order to IMPROVE UNDERSTANDING OF MARKET and MONITOR THE MARKETING PERFORMANCE - American Marketing Association

Marketing Information System (MIS)

Definition :

The Marketing Information system consist of people, equipments and procedures to gather, sort, analysis, evaluate and distribute needed , timely, and accurate information to the marketing decision makers Internal MIS committee can interview across section of marketing managers to discover their information needs.
Some questions What decisions do you regularly make? What information do you need to make these decisions? What information is needed which you are not getting now? What information would you want daily. Weekly, monthly, yearly?

Marketing Research Classification of Market Research

Problem Identification Research Image Research Market Potential Research Market Share Research Market Characteristics Research Sales Analysis Research Forecasting Research Business Trends Research

Problem Solving Research Segmentation Research Product Research Pricing Research Promotion Research Distribution Research

Problem Solving Research

Segmentation Research Determine basis of segmentation Establish Market potential and responsiveness for various segments Select target markets and create lifestyle profiles, demography, media and product image characteristics Product Research Test concept Optimal product design Package tests Product modification Brand positioning and repositioning Test marketing Control store tests

Problem Solving Research

Pricing Research Importance of price in brand selection Pricing policies Product line pricing Price elasticity of demand Response to price changes Promotional Research Optimal promotional budget Sales promotion relationship Optimal promotional mix Copy decisions Media decisions Creative advertising effectiveness

Distribution Research Type of distribution Attitudes of channel members Intensity of wholesale and retail coverage channel margins Location of retail and wholesale outlets

Research Instruments
Questionnaire Open end vs Closed ends Psychological Tools Question asking about a product .
Why SUV? Why power? Etc.

Mechanical Devices Galvanometer, Pupil graph

Tahistoscope

Qualitative measures Quality questions straight to the

point.

Types of Questions
Dichotomous A question with 2 possibilities Multiple Choice A Question which has more answers Likert Scale A statement which shows the amount of agreement /Disagreement Semantic differential Scale connecting 2 Bipolar words Important Scale A scale that rates the attributes

- Closed

End Questions

Rating Scale A scale that rates degree of attribute

Intention to buy Scale A scale that describe buyers intention

Types of Questions
Unstructured Manner Can answer in any form

- Open

End Questions

Word Association 1st word which comes in mind Sentence completion An incomplete sentence is completed Story completion An incomplete story is given to be completed Picture A picture of 2 characters is presented with 1 making a statement and the Respondent is asked to fill the empty balloon
Thematic Apperception Test (TAT) Respondent is asked to complete the story in the picture

Sampling Plan
Sampling Unit Who is to be surveyed?
The correct target population

Sample Size How many people to be surveyed? Sampling procedure How should the respondent to be
chosen

Sampling Plan
Probability Sample
Simple random sample Stratified random sample

Cluster (area) sample

Non- Probability Sample

Convenience sample
Judgment sample Quota sample

Customer Group Consumers Employees Shareholders Suppliers Controllable Marketing Variables Product Pricing Promotion Distribution Uncontrollable Environmental Factors Economy Technology Competition Laws and Regulations Social & Cultural Factors Political Factors Marketing Decision Making

Marketing Research
Providing Information

Assessing Information Need

Marketing Managers Market Segmentation Target Market Selection Marketing Programs Performance and Control

Market Research Process

Step 1: Problem Definition or define a Problem

Step 2: Development of an Approach to the Problem Develop a research Plan

Step 3: Research Design Formulation

Step 4: Fieldwork or Data / Information Collection

Step 5: Data Preparation and Analysis of information

Step 6: Report / Findings, preparation and Presentation

Step 7: Make the Decision

Research Suppliers

Internal

External (Marketing Research Industry)

Full Service

Limited Service

Syndicated Services Standardized Services Customized Services Internet Services

Field Services Coding & Data entry Services Analytical Services Data Analysis Services Brand Products and Services

Research Suppliers

Internal

External (Marketing Research Industry)

Full Service

Limited Service

Syndicated Services Standardized Services Customized Services Internet Services

Field Services Coding & Data entry Services Analytical Services Data Analysis Services Brand Products and Services

The Process of Problem Definition

Discussions with Decision Makers Interviews with the Experts Secondary Data Analysis Qualitative Research

Environment Context of the problem Step 1 = Problem Definition Management Decision Problem Marketing Research Problem

Step 2 = Approach to the problem

Objective

Analytical Models

Research Questions

Hypotheses

Step 3 = Research Design

Environmental Context of The Problem

Past information and forecast Resources and constraints Objective Buyers Behavior Legal environment

Economic environment
Marketing and Technological skill

Research Design

Exploratory Research Design

Conclusive Research Design

Descriptive Research

Casual Research

Research Design
Exploratory Research : It is used to define the problem more precisely, identify relevant course action, develop hypothesis, establish priorities for further research.

Descriptive Research : It is used to describe certain market characteristics or functions.

Casual Research : It is used to obtain evidence of cause and effect relationship

Research Design

Descriptive Research

6 Ws
Who? What? When? Where? Why? Way Includes : Market share study, Sales Analysis Study, Image Study, Product usage Study Distribution Study, Advertisement Study

Research Design
Descriptive Research Survey Method Telephone Interviewing - Traditional, Computer assisted (CATI) Personal Interviewing - In Home, Mall Intercept, Computer assisted (CAPI0 Mail Interviewing Mail, Mail Panel Electronic Interviewing Email, Internat Observation Method

Personal Mystery Shopping,

Mechanical Observation Trace analysis Content analysis

Total Error

Random Sampling error

Non- Sampling error

Response Error

Non- Response Error

Researcher Error Surrogate Information Measurement error Data analysis error

Interviewer Error Respondent selection Questioning Recording Cheating

Respondent Error Inability Unwillingness

In a Village of 1000 people

(World Population Touched 7 Billion Mark on 3rd November 2011)

There will be 520 Women

And 480 Men

95 European 52 North American

55 Russian

134 African

84 Latin American

584 Asian

165 Mandrin
58 Russians

86 English

37 Arabic 83 Hindi

64 Spanish

200 other Language

329 Christians

3 Jews

178 Muslims

167 NonReligious

132 Hindus

45 Atheists

62 Buddhists

84 Others