Chapter-03 Conducting Marketing Research

Marketing Research

Marketing research is the systematic design,

collection, analysis, and reporting of data
and findings relevant to a specific
marketing situation facing the company.
Market Research process
 Step 1: Define the Problem

• Define the problem

• Specify decision alternatives
• State research objectives
• Problem and opportunities are treated
interchangeably
• Stating the general problem and identifying
the specific components of the marketing
research problem
• Common error in problem statement :
Ø Too broad
Ø Too Narrow

• To define the problem researcher should

remind that:
I. What is to be researched ?
II. Why is to be researched?
 Factors to be Considered in the
Environmental Context of the Problem
PAST INFORMATION AND
FORECASTS

RESOURCES AND CONSTRAINTS

OBJECTIVES

BUYER BEHAVIOR

LEGAL ENVIROMENT

ECONOMIC ENVIROMENT

MARKETING AND TECHNOLOGICAL

SKILLS
Step 2: Develop the Research Plan & Design the
Research
• Data sources
• Research approach
• Research instruments
• Sampling plan
• Contact methods
 Data Sources: Primary & Secondary Data

Primary Data Secondary Data

Collection purpose For the problem at hand For other problems
Collection process Very involved Rapid & easy
Collection cost High Relatively low
Collection time Long Short
 Research Approaches

• Observational and ethnographic

• Focus group
• Survey
• Behavioral data
• Experimental research
1) Observational and ethnographic
FGD
Survey

Behavioral data
Experimental research
 Research Instruments
• Questionnaires
• Qualitative Measures
• Technological Devices
 Questionnaires

• A questionnaire is a formalized set of questions for obtaining information from

respondents.
• It must translate the information needed into a set of specific questions that the
respondents can and will answer.
• A questionnaire must uplift, motivate, and encourage the respondent to become
involved in the interview, to cooperate, and to complete the interview.
• A questionnaire should minimize response error.
Questionnaire Design Process
Specify the Information Needed

Specify the Type of Interviewing Method

Determine the Content of Individual Questions

Design the Question to Overcome the Respondent’s Inability and Unwillingness to

Answer

Decide the Question Structure

Determine the Question Wording

Arrange the Questions in Proper Order

Identify the Form and Layout

Reproduce the Questionnaire

Eliminate Bugs by Pre-testing

 Qualitative Measures

1) word association
2) projective technique
3) visualization
4) Brand Personification
5) Laddering
Word Association
Projective technique
Visualization
Brand personification
Laddering
 Sampling Plan
• Sampling unit: Who is to be surveyed?
• Sample size: How many people should be
surveyed?
• Sampling procedure: How should the
respondents be chosen?
 Contact Methods
• Mail contacts
• Telephone contacts
• Personal contacts
• Online contacts
Step-03: Data Preparation Process
Prepare Preliminary Plan of Data Analysis

Check Questionnaire

Edit

Code

Transcribe

Clean Data

Statistically Adjust the Data

Select Data Analysis Strategy

 Step: 04
Analyzing the Data

Different types of statistical tools are used.

Advanced methods- SEM, AMOS, STATA, R etc.
 Importance of the Report and Presentation

For the following reasons, the report and its

presentation are important parts of the marketing
Present the Findings
research project:

1. They are the tangible products of the research effort.

2. Management decisions are guided by the report and the
presentation.
3. The involvement of many marketing managers in the
project is limited to the written report and the oral
presentation.
4. Management's decision to undertake marketing research in
the future or to use the particular research supplier again
will be influenced by the perceived usefulness of the report
and the presentation.
 The Report Preparation and
Presentation Process

Problem Definition, Approach,

Research Design, and Fieldwork

Data Analysis

Interpretations, Conclusions, and

Recommendations

Report Preparation

Oral Presentation

Reading of the Report by the Client

Research Follow-Up
 What Is a
Marketing Decision Support System
(MDSS)?
• A marketing decision support system is a
coordinated collection of data, systems,
tools, and techniques with supporting
hardware and software by which an
organization gathers and interprets
relevant information from business and
environment and turns it into a basis for
marketing action.
 What Are Marketing Metrics?
Marketing metrics are the set of measures
that helps marketers quantify, compare, and
interpret marketing performance.
 Marketing-Mix Modeling

Marketing-mix models analyze data from a

variety of sources, such as retailer scanner
data, company shipment data, pricing, media,
and promotion spending data, to understand
more precisely the effects of specific
marketing activities.