MARKET RESEARCH

Topics to be covered:

Marketing Overview

Market Segmentation

Perception Maps

Positioning

RFM (Case)

Marketing Overview

5 sub-categories:

1. Business Environment: Internal and external environment analysis

a. Internal – SWOT
b. External – PESTEL, Porter’s 5 Forces, Competition Analysis (Revenue, Market Share,
Market Effectiveness, Market Penetration)
2. Segmentation and Positioning:
a. Segmentation Methods
b. Targeting the right segment
c. Positioning Strategy
3. Value & Relationships
a. Defining Value (The difference in the customers’ expectation VS the product or service
that has been delivered)
b. Customer Relationship Management (CRM)
4. Consumer Decision Making
a. Process (AIDA model) (A- Awareness I-Interest D-Desire A-Action)
b. Decision finalization
5. Consumer Insights
a. Qualitative Research
b. Quantitative Research
c. Insights to aid decision making

Segmentation and Positioning

Segment: A segment is a group of customers who share a similar set of needs and wants.

Segmentation Methods:

 Geographic Segmentation
 Demographic Segmentation
 Psychographic Segmentation
 Behavioral Segmentation
Positioning:

Perception Map:

A graph having X-axis as Quality and Y-axis as Price.

How to make perception maps:

1. Attribute ratings (Transmission, Mileage, Price, Built, Design, Weight, etc)

Brand T M P B D
Audi 9 2 1
Mercedes
MS
Toyota
MyBrand

Positioning concepts:

 Points of parity: Benefits that may not be unique but may be common with other brands
 Points of difference: Benefit which is unique to a particular brand
o Differentiate from competitors

Positioning Statement:

Points to be mentioned in positioning statement:

 Target Market Region

 Brand name
 Frame of reference
 Point of difference
 Reasons to believe
Statement: Among Indians, Patanjali is a brand which sells milk and milk products that is better of
consumers because it is made out of desi cows, which is more suited for Indians.

Customer Identification and Retaining / CRM

RFM:

Recency: Last time the customer visited

Frequency: Number of times the customer has purchased from me

Monetary Value: Amount of purchase the customer makes