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Name Roll No. Learning Centre Subject Assignment No.
: : : : :
RAKESH KUMAR SINGH
510910259 Systems Domain (2779)
Set – I(MK0004) 2010
Date of Submission :
510910259 2 Rakesh Kumar Singh
MBA Semester – 3 MK0004 – Market Research Assignment Set- 1
1 a. Discuss the scope of marketing research. (6 marks)
Ans: According to American Marketing Association, ’Marketing Research is the function that links the consumer, customer and public to the marketer through information-information used to identify and define marketing opportunities and problems, generate, refine and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.” Marketing Research plays a very significant role in identifying the needs of customers and meeting them in best possible way. The main task of Marketing Research is systematic gathering and analysis of information. Marketing Research is of use to the following:1. Producers a. To know about his product potential in the market vis-à-vis the total product; b. New Products; c. Various brands; d. Pricing; e. Market Structures and selection of product strategy, etc. 2. Business and Government Marketing Research helps businesses and government in focusing attention on the complex nature of problems faced by them. For example: a. Determination of Gross National Product; Price indices, and per capita income; b. Expenditure levels and budgeting; c. Agricultural Pricing; d. The economic policies of Government; and e. Operational and planning problems of business and industry. 3. Market Research Agencies Marketing Research is being used extensively by professionals to help conducting various studies in Marketing Research. Most prominent agencies being:a. Linta India Ltd; b. British Market Research Bureau (BMRB); c. Hindustan Thompson Associate Ltd; d. eSurveysPro.com; e. MARG 4. Managers
b. Distinguish between primary and secondary data.
Ans: Primary Data- Primary data is the data which is collected first hand specially for the purpose of study. It is collected for addressing the problem at hand. Thus, primary data is original data collected by researcher first hand.
510910259 3 Rakesh Kumar Singh Secondary data- Secondary data is the data that have been already collected by and readily available from other sources. Such data are cheaper and more quickly obtainable than the primary data and also may be available when primary data cannot be obtained at all. 2 a. Briefly explain the benefits and drawbacks of sampling techniques Ans: Sampling techniques: Advantages and disadvantages Technique Simple random Descriptions Advantages Disadvantages (8 marks)
Random sample from Highly representative if all Not possible without complete whole population subjects participate; the list of population members; ideal potentially uneconomical to achieve; can be disruptive to isolate members from a group; time-scale may be too long, data/sample could change Random sample from Can ensure that specific identifiable groups groups are represented, (strata), subgroups, etc. even proportionally, in the sample(s) (e.g., by gender), by selecting individuals from strata list Random samples of successive clusters of subjects (e.g., by institution) until small groups are chosen as units Possible to select randomly when no single list of population members exists, but local lists do; data collected on groups may avoid introduction of confounding by isolating members More complex, requires greater effort than simple random; strata must be carefully defined
Clusters in a level must be equivalent and some natural ones are not for essential characteristics (e.g., geographic: numbers equal, but unemployment rates differ)
Combination of cluster (randomly selecting clusters) and random or stratified random sampling of individuals
Can make up probability Complex, combines sample by random at stages limitations of cluster and and within groups; possible stratified random sampling to select random sample when population lists are very localized
Hand-pick subjects on Ensures balance of group Samples are not easily the basis of specific sizes when multiple groups defensible as being characteristics are to be selected representative of populations due to potential subjectivity of researcher
510910259 4 Rakesh Kumar Singh Quota Select individuals as they come to fill a quota by characteristics proportional to populations Subjects with desired traits or characteristics give names of further appropriate subjects Ensures selection of Not possible to prove that the adequate numbers of sample is representative of subjects with appropriate designated population characteristics
Possible to include No way of knowing whether members of groups where the sample is representative of no lists or identifiable the population clusters even exist (e.g., drug abusers, criminals) highly
Volunteer, accidental, convenience
Either asking for Inexpensive way of Can be volunteers, or the ensuring sufficient unrepresentative consequence of not all numbers of a study those selected finally participating, or a set of subjects who just happen to be available
b. Which are the different types of direct response attitude scales?
Ans: There are many ways to present a respondent with a continuum of numbered categories that represent the range of possible attitude judgements. They can be generally classified as single item scales and multiple item scales. i. Single Item scales, ii. Itemized Scales, iii. Comparative Scales, iv. Rank Order Scales, v. Q-sort scaling Scales, vi. Constant Sum Scales, vii. Pictorial Scales, viii. Paired comparison Scales, ix. Derived attitude Scales, x. Likert Scales, xi. Thurstone Scales, xii. Semantic Differential Scales. 3. What steps will you take to carry out a primary research study to find out how many students in your area are enrolled for an MBA program? Use the different primary data collection methods to achieve your research objectives. (10 marks) Ans: The following steps may be taken in order to find out how many students in my area are enrolled for MBA program:
510910259 5 Rakesh Kumar Singh Step 1: Research Purpose: It is in the best interest of both the researcher and managers paying for the research to be sure that the research purpose is fully understood. One of the hallmarks of a competent researcher is the ability to get to the heart of the management problem. The research purpose comprises a shard understanding between the manager and the researcher of: 1. Problems or opportunities to be studies Which problems or opportunities are anticipated? What is the scope of the problems and the possible reasons? 2. Decision alternatives to be evaluated What are the alternatives being studies? What are the criteria for choosing among the alternatives? What is the timing or importance of the decision? 3. Users of the research results Who are the decision makers? Are there any covert purposes? Problem or Opportunity Analysis: In analyzing problems or opportunities to be studied, constant contact with customers to monitor trends is very important. Research is often motivated by problem or opportunity. The fact that people are consuming fewer sweets might be a problem or a potential opportunity for a candy company. Increased leisure time might be viewed as an opportunity by a recreation oriented organization. In such cases, the research purpose should specify the problem or opportunity to be explored. The manager should make sure that the real problem is being addressed. Decision Alternatives: For research to be effective, it must be associated with a decision. Marketing research is committed to the principle of utility. In general, if the research is not going to have an effect on decisions, it is an exercise in futility. The researcher should be always sensitive to the possibility that either there are no decision alternatives – and therefore no decision – or that the research findings will not affect the decision, usually because of resource or organizational constraints. In such circumstances, the research will have no practical value and probably should not be conducted. Criteria for Choosing among Alternatives: It is essential for the researcher to know how the decision maker will choose among the available alternatives. Suppose the product manager is considering three possible package redesigns for a health-care product with declining sales. The following criteria will be used to choose the best of the three alternative packages: 1. Long run sales 2. Trial purchases by users of competing brands 3. Amount of shelf space assigned to the brand 4. Differentiation from competitive packages 5. Brand name recognition. Research Users: When the research results will be used to guide internal problem solving, the researcher must know the objectives and expectations of the actual decision makers. The bigger the problem, the more difficult this becomes, for not only are a large number of people likely to be involved, but the contact person may simply be acting as a liaison whose interpretation of the problem and the need for research may be second-hand. The major benefit from making an effort to reach all the decision makers is that the research purpose is likely to be specified more adequately. Step 2 – Research Objective: The research objective is a statement, in as precise terminology as possible, of what information is needed. The research objective should be framed so that obtaining the information will ensure that the research purpose is satisfied.
510910259 6 Rakesh Kumar Singh Research objectives have three components. The first is the research question. It specifies the information the decision maker needs. The second and the third elements help the researcher make the research question as specific and precise as possible. The second is the development of hypotheses that are basically alternative answers to the research questions. The research determines which of these alternative answers is correct. It is not always possible to develop hypotheses, but an effort should be made. The third is the scope or boundaries of the research. Step 3 – Estimating the Value of Information: Before a research approach can be selected, it is necessary to have an estimate of the value of information – that is, the value of obtaining answers to the research questions. Such an estimate will help determine how much, if anything, should be spent on the research. The value will depend on the importance of the decision as noted in the research purpose, the uncertainty that surrounds it, and the influence of the research information on the decision. If the decision is highly significant in terms of the investment required, or in the long-run success of the organization, then information may have a high value. However, uncertainty that is meaningful to the decision also must exist if the information is to have value. If the outcomes are already known with certainty, or if the decision will not be affected by the research information, the information will have no value. Primary Data Collection Methods: Primary data is directly collected by the researcher from its original sources. In this case, the researcher can collect the required data precisely according to his research needs and he can collect them when he wants and in the form that he needs it. But the collection of primary data is costly and time consuming. Yet, for several types of social science research, required data is not available from secondary sources and it has to be directly gathered from the primary sources. The various primary data collection methods which can be helpful in conducting this type of research are: A survey is a fact finding study. It is a method of research involving collection of data directly from a population or a sample at a particular time. Personal interviewing is one of the prominent methods of data collection. It may be defined as a two way systematic conversation between an investigator and an informant, initiated for obtaining information relevant to a specific study. It involves not only conversation, but also learning from the respondent’s gestures, facial expressions and pauses, and his environment. Telephone interviewing is a non-personal method of data collection. It may be used as a major method or as a supplementary method. A group interview may be defined as a method of collecting primary data in which a number of individuals with a common interest interact with each other. In a personal interview, the flow of information is multi dimensional. The group may consist of about six to eight individuals with a common interest. The interviewer acts as the discussion leader. Free discussion is encouraged on some aspect of the subject under study. The discussion leader stimulates the group members to interact with each other. The mail survey is another method of collecting primary data. This method involves sending questionnaires to the respondents with a request to complete them and return them by post. This can be used in the case of educated respondents only. The mail questionnaires should be simple so that the respondents can easily understand the questions and answer them. It should preferably contain mostly closed-ended and multiple choice questions, so that it could be completed within a few minutes.
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