Marketing Research

Marketing Research
The systematic gathering, recording and analysing data about problems related to the marketing of goods and services(American Marketing Association)

Purpose of marketing research
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To facilitate the decision making process To reduce the risk associated with the process of decision making To help in discovering opportunities which can be profitably exploited Helps pick and choose customers and make focused offers Helps to know which products move in the market and why Helps new entrants to plan their channels by studying the existing ones

Scope of marketing research

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Study of consumer and their purchase behaviour Product and Product design Discovering what types of distribution channels and retail outlets are more profitable for a product Research on advertisement effectiveness

Basis For Segmentation
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Benefit segmentation Demography Social class Family life cycle Psychographic basis Personality variables Usage rate Brand loyalty

How is basis for segmentation selected?
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Intuition and Experience Trial and Error Research on Consumption styles Research on Attitude and Perception

Buyer Behaviour
Buyer behaviour can be defined as those acts of individuals or organizations, directly involved in obtaining, using and disposing of economic goods and services Factors affecting consumer behaviour Psychological Factors Personal Factors Social Factors Cultural Factors

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Marketing Research Procedure
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Problem Definition Research Design Field Work Data analysis Report Presentation And Implementation

Wrong Problem Definition
Product Market Problem : Laptop : West zone :Sales not picking up at the rate at which it should

Research Design
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Data collection methods Research Instrument Sampling Plan Cost

Sampling Plan
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Sampling unit (Who is to be surveyed) Sampling Size (How many are to be surveyed) Sampling Procedure (How are they to be
selected)

Sampling Media

(How are they to be reached)

Report Presentation & Implementation
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Objectives and Methodology Summary of conclusion and recommendation Sample and its Characteristics Detailed Findings and Observations Questionnaire and supporting research instruments

Application of Marketing Research Sales & Market Analysis
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Determination of Market Potential Determination of Market Share Sales Forecasting Design of Market Segment Studies Test Markets Distribution Channel Studies Determination of Market Characteristics Determination of Competitive Information

Product Research
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Evaluation of New Product Ideas Testing of New Product Acceptance Evaluating the Need for Change in Product Formulation Testing Package Design Testing for Product Positioning

Business Economics &Corporate Research
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Business Trends Pricing Studies Diversification Studies Product Mix Studies Plant and warehouse location Studies

Advertising Research
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Audience Measurement Determination of most cost - effective Media Plan Copy Testing Determining Advertising Effectiveness Consumer Behaviour Research

Consumer Behaviour Research

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Socio-Economic Background, Age, Religion & Occupation Location Motivation to Purchase Buying Behaviour Pattern Post purchase satisfaction level

Marketing Information System
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Internal Company Records Marketing Intelligence activities Marketing Research Marketing Decision support system

Internal Record System
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The order to payment cycle Sales Information System

Marketing Intelligence System
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Train and Motivate Sales Force Motivating Distributors, Retailers and Other Intermediaries Learning about Competitors Setting up Customer Advisory Panel Purchasing Information From Outside Supplier Marketing Information Centre

Marketing Decision Support System (MDSS)
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