Marketing Research

Introduction
 Different Styles of Research
• Applied Research
Solve a particular business problem

• Pure Research/Basic Research

Expands the Limits of Knowledge
 What is Marketing Research?
• A systematic and objective identification,
collection, analysis, dissemination, and
use of information for the purpose of
assisting management in decision making
related to the identification and solution of
problems (and opportunities) in marketing.
 Research Information
1) scientific
not intuitive or haphazardly
gathered

(2) objective

(3) impersonal
 MANAGERIAL VALUE OF
MARKET RESEARCH
• Identifying problems or opportunities
• Diagnosis and assessment
• Selecting and implementing a course of action
• Evaluating the course of action
• Decision Making
 Decision Making

Problem -------Research------------Decision
 Classification of MR
• Problem Identification • Problem Solving

• Market Potential • Segmentation

• Image • Product
• Market Characteristics • Pricing
• Sales Analysis • Promotion
• Forecasting • Distribution
• Business Trends
 Problem Identification
• Market Potential
Size of total market, total revenue etc.
• Market Share
Share of Market, Mind
• Market Characteristics
Socio-Economic trends
• Sales Analysis
Sales Data across the country
 Problem Identification
(Contd..)
• Image
Brand / Company Image
• Forecasting
Future population / Sales
• Business Trends
Macro Economic / Credit / Banks /
Government initiatives…
 Segmentation Research
• Determine basis of Segmentation

• Establish market potential and responsiveness

• Select Target Markets and create lifestyle profiles,

demography, media and product image
 Product Research

• Test Concept
• Optimal Product Design
• Package Tests
• Product Modification
• Brand Re/Positioning
• Test Marketing
• Control Store Tests
 Promotional Research
• Optimal Promotional Budget
• Sales Promotion Relationship
• Optimal Promotional Mix
• Copy Decisions
• Media Decisions
• Advertisement Research
 Pricing Research
• Importance of Price vs Brand

• Pricing Policies

• Product Line Pricing

• Response to Price changes

 Distribution Research
• Type of Distribution

• Attitudes of Channel Members

• Intensity of Retail / Wholesale

• Location of stores
 Marketing Research Process
• Problem Definition
• Development of an Approach to the
Problem
• Research Design Formulation
• Fieldwork / Data Collection
• Data Preparation and Analysis
• Report Preparation and Presentation
 Marketing Research Industry

Internal and External MR Agencies

Full Services
Syndicated - CMIE
Standardized - NRS
Customized - ORG
Internet Services
 Limited Services

Field Services
Coding and Data Entry
Analytical Services
Data Analysis
Branded Products and
Services - PSNAPS
 Decision to Conduct Research
• When information cannot be applied to a
critical managerial decision
• When management has insufficient
resources to conduct a study
• When the cost of the study outweighs the
level of risk of the decision
 What is Good Research?
• Following the standards of the scientific
method
– Purpose clearly defined
– Research process detailed
– Research design thoroughly planned
– Limitations frankly revealed
– High ethical standards applied
 What is Good Research? (cont.)
• Following the standards of the scientific
method (cont.)
– Adequate analysis for decision-maker’s
needs
– Findings presented unambiguously
– Conclusions justified
– Researcher’s experience reflected
 The Manager-Researcher
Relationship
• Manager’s obligations
– Specify problems
– Provide adequate background information
– Access to company information gatekeepers
• Researcher’s obligations
– Develop a creative research design
– Provide answers to important business questions
 Manager-Researcher Conflicts
• Management’s limited exposure to
research
• Manager sees researcher as threat to
personal status
• Researcher has to consider corporate
culture and political situations
• Researcher’s isolation from managers
 BUSINESS RESEARCH IN
THE 21st CENTURY
• Increased globalization
• Internet
• Information Technology Services
• Computer Packages – SPSS, SAS…..
• Competitive Intelligence
• International Marketing Research