INDUSTRIAL MARKETING RESEARCH

Industrial marketing research
Marketing research – “objective & systematic
process of obtaining, analyzing & reporting of data (information) for decision making in marketing”. • Undertakes periodic projects to collect & analyze data with specific objectives • Projects – sales forecasting&market potential, competitive analysis & new product research

Differences between consumer & Industrial marketing research
• More reliance on secondary data, exploratory research & expert opinion in IR. • Secondary data – Govt. & Non- govt publications,trade & industry associations & online DB useful for industrial mkg decisions • Understanding of technical factors – researcher • More emphasis is given to descriptive (survey) method than experimental & observational methods used for primary data collection

Difference in certain areas of survey method b/w consumer & Industrial marketing research Areas of Industrial Consumer survey Research Research Method Small sample – Few Large sample – Sample size
buyers geographically dispersed *Less difficult *Easier

Respondent cooperation & accessibility Defining respondent

* More difficult-time *Limited to working time

More difficult (buying center)

Easier (individuals)

Scope of Industrial marketing research
• • • • • Market potential Market share analysis Sales analysis Forecasting Competitor analysis • Benchmarking • New product acceptance & potential • Business trend studies • Sales quota determination

The marketing research process Identify the problem &
Define research objectives Develop the research design (plan)

Collect the data(information)

Process & Analyze the data

Present the research findings

Sources of secondary Data
• Statistical Abstract of India,by central statistical organization(cso),New Delhi • Annual survey of Industries,CSO,New Delhi • Census report by Registrar General of India • Planning commission,New Delhi • National sample survey • RBI Bulletin • Kothari’s industrial & economic guide of India, Chennai • Handbook of Directory of Indian Industries, Mumbai • Newspapers & periodicals (Economic times, Business India)

On – Line portals
• Indiainfoline.com – stock markets,corporate DB,forex markets • Indiamarkets.com – B2B portal – 70 industry sectors • Matexnet.com – Material stock exchange portal – helps dispose surplus inventory, sell finished products& give technology inputs • Seekandsource.com – b2b portal – helps to buy & sell industrial goods

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