Marketing Research

Definition: Marketing research is the systematic design ,collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

Application of Marketing Research:

Product Research Launching new products Analyze the performance of existing products Analyze competitors products Packaging Products Research Related to Branding of products

Price Research

Find prices of competitors products Price new Products

Promotion Research

Test Advertisements Researches related to sales quota, territories etc.

Distribution Research

Decide on warehouse location Analyze Channel coverage

Consumer Research

Study consumer behavior Analyze consumer psychology Study consumer satisfaction

Competition Research

Study Market Shares Study Competitors. Strategies Study competitors, products, prices promotions etc.

Internal company research

Employee satisfaction Companys mission,objectives Flow of communication in the company etc.

Preparation of a Research Plan

Step 1 Problem Formulation Step 2 Formulation of Hypothesis Step 3 Research Design Step 4 Design of Data collection methods and forms Step 5 Sampling Design Step 6 Collection of data Step 7 Analysis and Interpretation Step 8 Report Writing

Types of Research Designs

Exploratory research designs Descriptive research designs Causal research designs

Data collection techniques

OBSERVATION: Structured, Unstructured, Disguised, Undisguised, Human, Mechanical. COMMUNICATION: Structured, Unstructured, Disguised, Undisguised, Direct, Indirect.

Major Aspects of Questionnaire Design

Step 1: Determine what information is needed Step 2 : Decide content of each question Step 3: Decide the response format-Close ended or open ended Step 4: Determine the organisation and sequencing of questions Step 5: Physical design of questionnaire Step 6: Pre testing and evaluation

Sampling Design

Step 1 -- Define Population Step 2 Census Vs Sample Step 3 Sample Design Step 4 Sample Size Step 5 Estimate Sampling Cost Step 6 Execute Sampling process

Types of Sampling Plans:

Probability Sampling Non Probability Sampling

Probability Sampling
Types of Probability Sampling: Simple Random Sampling Stratified Random Sampling Cluster Sampling Systematic Sampling

Data Analysis

Appropriate statistical tools can be used to analyse data: Arithmetic Analysis: Use of percentile & ratios. Statistical Analysis: Use of mean, median, mode,Standard Deviation, Coefficient of Correlation etc. Advance statistical tools like test of significance, factor analysis, multiple regression analysis, discriminant analysis may also be used

Report & Presentation:

Structure of a good report:

Introduction to the problem Research Methodology Presentation of Marketing Research findings Interpretation of research findings Policy Implementation