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MArketing research notes chapter8

MArketing research notes chapter8

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Published by manojpatel51
this are the notes for marketing research - a subject for TYBMS, mumbai university.
this are the notes for marketing research - a subject for TYBMS, mumbai university.

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Published by: manojpatel51 on Mar 14, 2009
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© Copy Right: Rai University
Students so far we have studied about various research processesand the writing of report. The write up part we have done indetail. Now, we will be discussing in detail each and every step of research. After the research problem is framed along with thehypothesis the next step is the collection of required informationand data.In this class we will be focusing specially on the collection of qualitative data for market research. The list of techniques andsources of data are
Sources of Market Data
Retail AuditConsumer PanelTV MetersDiary MethodInternet as a source of DataSecondary DataSources of Secondary DataRBIEconomic SurveyCSOInvestment DataForeign TradeSurvey DataTypes of Survey TechniquesNow let us discuss these in detail
Retail Audit
Retail Audit is a common term in marketing research
During the 1990s, it became increasingly important to develop astrong brand image. It’s not just the product that needs to besold, but also the brand, charged with values such as ethics, quality,feelings and identity that put over a positive message to consumers.Today, many companies are moving their production from theirhome countries to nations where manufacturing costs areconsiderably lower. However, the role of the company extendsbeyond just financial issues; every organisation has a socialresponsibility. Consumer and pressure groups are increasinglyconcerned about the social conditions in which workers fromdeveloped and developing countries are subjected. They expectcompanies to accept its responsibilities and to conduct its activitiesin accordance with the ethical and moral values accepted in thecountry in which their product is sold. Forced labor, child labor,low pay, poor conditions and dangerous working environmentsare all areas of serious concern to the reputable retailer or brandowner.The audit process includes an opening meeting, factory tour,document review, interviews with employees and a closingmeeting.The key parameters that we look at when carrying out retail auditsare:In-store availability of product/brand;
Types of outlets (by owner, location, specialty);
Sales volume cross-tabbed with type and location;
Pricing of product/brand cross-tabbed with type/locationof outlet;
Display value;
Customer demand;
Resulting market share and rank/position of productbrand.It must be noted that there are no readily available retail universedata. The design of a retail audit is critical to the success of theproject. The data obtained from the retail audit is useful for carryingout
Identification of market opportunities
Trend analyses and forecasting
Studying market structure
Prioritisation of markets
Conducting analyses of competitors
Product portfolio analysis
Understanding changes in distribution
Pricing trend analyses
Product Categories CoveredThis Audit covers more than 100 product categories including
Baby products (oil, powder, diapers, milk food, weaningfood.)
Beverages (coffee, soup mix, squash and juice, syrup, tea,concentrated drinks.)
Cosmetics (colognes, deodorant, perfume, lipstick, nailpolish.)
Environmental hygiene (air freshener, floor cleaner, floorpolish, etc.)
Fabric care (fabric bleach, washing powder, liquid, whitener,soap, detergent.)
Food products (butter, margarine, salt, packaged food, etc.)
General toiletries (mouthwash, talcum powder, toilet soap,toothpaste, toothbrush, sanitary napkins.)
Hair care (conditioner, dye, oil, shampoo.)
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Health products and OTC (analgesic, digestive, medicateddressing, etc.)
Liquor (beer, brandy, gin, rum, vodka, whisky, wine, liquor.)
Milk products (milk, condensed milk, milk powder, Cheese.)
Semi-durable products (batteries, bulbs, lubricants, paint,tube lights, etc.)
Shaving products (after-shaves, blades, razors, etc.)
Skin care (cream, cold cream, lotion, face-wash, etc.)
Snack foods and soft drinks (biscuits, chocolates,confectionery, etc.)
Market size in terms of units sold, volume and value
Market share by volume and value
Numeric distribution
Weighted distribution
Share among handlers
Out-of-stock retailers
Per dealer off-take
Purchases by retailers
Stock levels with retailers
Stock turnover ratio
Trends for market, company, brand and SKU - for size andshares
Following Steps can be Followed
We never assume that our clients will mean the same thing under“retail audit”. We always strive to define exactly the specificknowledge needs, and design the approach, methodology, andsample accordingly. Our experience has taught us that there can beno long-term representative samples. Each new project requires arevision of the existing sample size and structure in order toachieve credible results.1.Draft the research plans and schedule, indicating.
Scope and goals;
Optimal sample size, methods of collectingquantitative & qualitative data, etc.;
Structure and format of reports.3. Fine-tuning and approval of research approach.4.Design and production of customized research tools.5.Launch and management of field researchAs a rule, we use the following field research methods:
Face-to-face POS interviews
Mystery shopping
Do not expect data on opening stock/deliveries/closing stock,bar code data (scanning d-bases), audit code levels, etc. They aremostly non-existent.6.Data collection7.Usually the sources can be broken down into three basicgroups:a.“White area”: from official stats sources to fully legal retail;b.“Grey area”: includes medium and small wholesale, andkiosks (partial reporting) original, but locally unauthorizedproduct;c.“Black area”: private entrepreneurs operating without alicense, ad-hoc open air markets, van sales, babushkas, etc.8. Analysis and report writingAfter verification, the data are punched in (software and formatsto be determined based on client needs), structured, analyzed, andpresented as text, graphics, customized databases, or a combinationof these.
Consumer PanelThere’s nothing (consumer) panel data can tell us that wedon’t already know from scanner data.Consumer panels are a unique tool that can enable a clever researcherto examine dynamic longitudinal changes in behaviors, attitudes,and perceptions. Consumer panels can also be an overly costly,excessive generator of unused data
What are Consumer Panels?
There are two basic kinds of consumer panels.In the first kind, respondents report essentially the sameinformation repeatedly over some period of time. The chief examples of these kinds of panels are the syndicated purchasepanels using store and home, termed as, continuous panels.The second kind of panel consists of samples of pre-screenedrespondents who report over time on a broad range of differenttopics, termed as discontinuous access panels.Both kinds of panels come in all different forms. Panel studiescan involve data collection at widely different intervals varyinganywhere from a day to several years between waves of interviews.Panel operators are continuously faced with the decision abouthow often panel members should be contacted and asked toreport. Contacting the panel either too frequently or too infrequentlymay lead to reduced cooperation,
The Benefits of Continuous Consumer Panels
1. The effect of a special offer can be measured through abefore-and-after design using a panel approach. Thus, asample of families might be interviewed initially to gatherinformation on their purchases of soft drinks, possibly overseveral weeks to obtain a good idea of their “steady state”purchasing patterns. A special deal for a particular brand isthen introduced, and the purchases of the same sample aremonitored for perhaps every week for three months. In thisway, sampling variation is minimized and both short-termand long-term effects of the deal are obtained.2.A static consumer panel of families with young childrenmight be set up to monitor the acceptance of new line of toys. In this case no type of experimental treatment isinvolved. Rather, information is obtained, say, every monthon the toy purchases of the families. In this way, data arecompiled on the types of families that are buying any of thenew toys, how soon the toys are purchased after they have
© Copy Right: Rai University
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been placed on the market, and how many of the toys arepurchased by each family.3. A dynamic consumer panel might be used to keep track of the purchases of frozen foods of one brand in relation toother brands. By obtaining such data every week for severalyears, very detailed information can be obtained on whatsorts of families are purchasing each major brand and on thechange in market shares of the different brands over timeamong different groups of consumers. Also estimates can bederived of the extent to which purchasers remain loyal todifferent brands.4.A continuous consumer panel may be used to obtain moredetailed and reliable information on different types of behavior. It has been demonstrated that data on consumerfinancial holdings are obtained much more reliably if thisinformation is sought over a period of time, thus allowingthe respondent to build up confidence in the validity andtrustworthiness of the study. Similarly, information onmedical care events is obtained much more accurately frompanels than from one-time surveys.5.A continuous consumer panel is the only means of obtaining information on a series of events extendedthrough time. For example, reactions to the weekly episodesof a television program are best obtained by monitoring theviewing of the same family and at the same time gettingtheir reactions to the different programs. In this way itbecomes possible to measure changes in program acceptanceand to relate attitudes and behavior at one time to viewingand attitudes toward earlier episodes.6. Only through continuous consumer panels is it possible tomonitor changes in the behavior of particular cohorts. Forexample, the purchase habits of teenagers might bemonitored over a number of years to ascertain how thesepurchase habits change as the subjects move into a differentstage of life. By monitoring the behavior of peers at thesame time, it becomes possible to distinguish effects due tohistory (i.e., changes in economic and social conditions) fromeffects due to the aging process. It is possible to use a seriesof demographically identical discontinuous access panels forthe purposes of continuous tracking. Selectingdemographically identical samples containing differentpanelists at predetermined intervals across time can do this.These different groups of panelists can then be usedseparately in the separate waves of the panel. Since thesample is not static, traditional static panel analytics, such asmeasures of trial and repeat and brand switching, are lost.What is gained, however, means of obtaining other insightsin at a lower cost than it would be to maintain a continuous,full-time panel.
The Benefits of Discontinuous Consumer Access Panels
The benefits of discontinuous consumer access panels areprimarily related to reductions in the cost and time requiredobtaining market research information. Although these kinds of panels are used in a wide variety of ways, three uses are especiallycommon1.Screening for special populations (especially for rare specialpopulations),2.Evaluation of new product concepts and formulations,3.Marketing and advertising experimentationThe following examples illustrate some uses of discontinuousconsumer access panels:1.A manufacturer of tennis racquets is considering alternativeshapes for a new racquet that would make it easier to handle.Initially, sheets with pictures and a description of the newracquets might be sent by mail or e-mail to pre-screenedsamples of respondents who play tennis. Any onerespondent would receive only one of the alternatives, butthe manufacturer could determine which racquet waspreferred from the different samples. Alternatively,respondents might receive pictures of two racquets with theorder of the pictures randomized, and asked for theirpreference between the two. At a later stage, respondentsmight receive the actual racquets for use testing.2.Instead of a new product, a marketer might be considering anew advertising campaign for an existing product, and mightwish to choose between several alternatives that had beenproposed by the advertising agency. Again, samples of eachof the alternatives would be sent to relevant panel membersfor their evaluation. As above, they might be asked toevaluate a single advertisement or to choose from amongmultiple advertisements. The testing could also be done bythe advertising agency before the recommendation was madeto the manufacturer. Similarly, panel members could beasked to evaluate different designs or layouts for a web pageor a brochure. In all cases, the objective is to screen differentideas or executions inexpensively by having a panel evaluatethem singly or side-by-side. It is obvious that similarinformation could be obtained from one-time surveys, butwith greater difficulty and at greater expense. Two reasons forusing discontinuous panels are because they can providegreater relevance and better quality. They are more relevantbecause respondents can be easily screened on the basis of prior questions (e.g., pet owners, users of denture cream,recent car purchasers) They are often better quality becauserespondents are experienced and can easily be pre-qualified aspanel members on the basis of the quality of the previoussurvey responses. In the next section we discuss problemswith discontinuous consumer panels that sometimes makeone-time surveys the better alternative.
Challenges of Panels?
Essentially, a continuous consumer panel operation poses fourproblems:1.Gaining and maintaining cooperation,2.Information validity and reliability,3.Panel conditioning, and4.Record maintenance.
1. Gaining and Maintaining Cooperation
Mail, Internet, or the World Wide Web does even when panels arerecruited by personal methods, the initial rate of cooperation canbe as low as 50%, and may be much lower if recruiting. Those

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