APPLIED MARKETING RESEARCH (C16)

MBA 3RD SEMESTER

MODULE 1
APPLIED MARKETING RESEARCH (C16)
MBA 3 SEMESTER
RD
LECTURE 1 - THURSDAY 2ND MAR 2023
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OUTLINE
• Syllabus
• Objectives
• Text and Reference Books
• Pedagogy
• Applied Marketing Research - Definition
• Introduction to Applied Marketing Research
• Top 10 Global Applied Marketing Research Companies
• Marketing Research Failures
• Marketing Research Successes
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SYLLABUS
Module Name
1 Marketing research basics
2 Research process
3 Various sources of market information
4 Marketing research techniques
5 Marketing mix research
6 Exploratory designs
7 Qualitative research techniques
8 Report writing
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OBJECTIVES
1) Understand the definition, scope, significance, limitations, and ethics of
marketing research.
2) Understand the research process, including defining the problem,
formulating a hypothesis, and drafting a research proposal.
3) Understand the various sources and methods of collecting market
information, including primary and secondary data collection.
4) Develop an understanding of marketing research techniques, including
demand estimation, segmentation research, and sales forecasting.
5) Develop an understanding of marketing mix research, including concept
testing, pricing research, and advertising research.
6) Develop an understanding of exploratory and descriptive research designs,
qualitative research techniques, and report writing.
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TEXT & REFERENCE BOOKS

• Text Books:

• Marketing Research – Measurement & Methods – Donald

• Marketing Research –Naresh Malhotra, Latest Pearson Publications
• Brown, Adhikari, “Marketing Research” Cengage Learning.

• Reference Books:-
• Marketing Research, Concept & Cases – Cooper Schindler.
• Research for Marketing Decisions – Paul Green, Donald Tull, Gerald Albaurn.
• Chisnali P K Marketing-A behavior
• Boyd H W & Westfall: Marketing Research text and cases Richard Irwin Inc.- Lucki
D J Wales H G Etal: Marketing Research Prentice Hall
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PEDAGOGY
PEDAGOGY Applied Marketing
Research (C16)

Lectures ×

Assignments ×
Projects ×
Practical Exercises ×
Seminars ×
Case Studies ×
Workshops ×
Quiz ×
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APPLIED MARKETING
RESEARCH - DEFINITION
“Marketing Research is the systematic and objective
identification, collection, analysis, dissemination and use of
information for the purpose of improving decision making
related to the identification and solution of problems and
opportunities in marketing”
- “Marketing Research- An Applied Orientation”, Naresh Malhotra & Satyabhushan
Dash, 6th Edition (page 6)
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INTRODUCTION TO APPLIED
MARKETING RESEARCH
• Applied marketing research is the systematic and objective process of gathering,
analyzing, and interpreting information to aid in making marketing decisions.
• The goal of marketing research is to provide relevant, accurate, and timely
information to marketing managers, allowing them to make informed decisions
about product development, pricing, promotion, and distribution.
• The process involves various stages, including defining the problem, designing the
research, collecting and analyzing data, and preparing a report with actionable
insights.
• The insights can help organizations gain a competitive advantage by understanding
consumer needs and preferences, identifying opportunities for growth, and
improving overall marketing strategies.
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TOP 10 GLOBAL APPLIED

MARKETING RESEARCH COMPANIES

Source: Statista 2023

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MARKETING RESEARCH
FAILURES
Apple Newton KODAK
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MARKETING RESEARCH
SUCCESSES
APPLIED MARKETING RESEARCH (C16)
MBA 3 SEMESTER
RD
LECTURE 2 – MONDAY 6TH MAR 2023
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OUTLINE
• Scope
• Significance
• Limitations
• Obstacles in Acceptance
• Ethics in Marketing Research
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SCOPE (1)
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SCOPE (2)
• Some examples of the scope of applied marketing research are:
1) Market Segmentation: Research can be conducted to segment the market
based on demographics, psychographics, behavior, and other factors to help
businesses understand their target audience and tailor their marketing efforts
accordingly.
2) Brand Perception: Research can be conducted to understand how consumers
perceive a brand, its products or services, and its messaging. This can help
businesses make adjustments to their branding and messaging to better
connect with their target audience.
3) Product Development: Research can be conducted to understand the needs
and preferences of customers to inform the development of new products or
improvements to existing products.
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SCOPE (3)
4) Pricing: Research can be conducted to determine the optimal price point for
a product or service based on factors such as consumer demand,
competition, and perceived value.
5) Customer Satisfaction: Research can be conducted to measure customer
satisfaction and identify areas where improvements can be made to products
or services.
6) Advertising Effectiveness: Research can be conducted to measure the
effectiveness of advertising campaigns and to identify which channels are
most effective in reaching the target audience.
7) Competitor Analysis: Research can be conducted to understand the strengths
and weaknesses of competitors and to identify opportunities for differentiation
and competitive advantage.
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SIGNFICANCE (1)
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SIGNFICANCE (2)
• Some examples of the significance of applied marketing research are:
1) Identifying Customer Needs: Applied marketing research helps businesses to
understand the needs and preferences of their customers, which can inform
the development of new products or services that better meet those needs.
For example, a company might use marketing research to identify a gap in the
market for a particular type of product and develop a new product to fill that
gap.
2) Enhancing Customer Satisfaction: Marketing research can be used to measure
customer satisfaction levels and identify areas where improvements can be
made to products or services. This can help businesses to retain customers and
improve their reputation. For example, a company might use customer
satisfaction surveys to identify areas where customers are dissatisfied with their
product or service and make improvements to address those concerns.
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SIGNFICANCE (3)
3) Improving Marketing Strategies: Marketing research can provide insights into
consumer behavior, preferences, and trends, which can be used to inform
marketing strategies. For example, a company might use marketing research
to identify the most effective advertising channels for reaching their target
audience and adjust their advertising strategy accordingly.
4) Identifying Competitive Advantages: Marketing research can be used to
analyze competitors and identify areas where a business can differentiate itself
and gain a competitive advantage. For example, a company might use
marketing research to identify a gap in the market that is not being served by
competitors and develop a product to fill that gap.
5) Evaluating Performance: Marketing research can be used to evaluate the
performance of marketing campaigns and identify areas where improvements
can be made. For example, a company might use marketing research to
measure the effectiveness of a new advertising campaign and make
adjustments to improve its performance.
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LIMITATIONS (1)
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LIMITATIONS (2)
• Applied Marketing Research has some limitations that can impact the
accuracy and usefulness of the insights generated.
• Some examples of the limitations of applied marketing research are:
1) Sample Bias: Applied marketing research relies on data collected from a
sample of the target population, and if the sample is not representative of the
population as a whole, the insights generated may be biased. For example, a
survey conducted exclusively among a company's most loyal customers may
not accurately reflect the opinions of the broader market.
2) Data Quality: The quality of the data collected can impact the accuracy of
the insights generated. If the data is incomplete or inaccurate, the insights
generated may not be reliable. For example, if a survey question is ambiguous
or confusing, it may lead to inconsistent or inaccurate responses.
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LIMITATIONS (3)
3) Cost: Conducting marketing research can be expensive, particularly if the
research requires a large sample size or extensive data collection methods. This
cost can be a barrier to smaller businesses that may not have the resources to
conduct extensive research.
4) Time Constraints: Conducting marketing research can be time-consuming,
particularly if the research requires extensive data collection and analysis. This
can be a challenge for businesses that need to make quick decisions.
5) Influence of External Factors: External factors such as changes in the economy
or unexpected events can impact consumer behavior and invalidate the
insights generated by marketing research. For example, a survey conducted
prior to the COVID-19 pandemic may not accurately reflect the current market
conditions.
APPLIED MARKETING RESEARCH (C16)
MBA 3 SEMESTER
RD
LECTURE 3 - FRIDAY 10TH MAR 2023
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OUTLINE
• Marketing Intelligence system
• Own vs. Agency marketing research
• Marketing Information System
• Marketing Information System and Marketing Research
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MARKETING INTELLIGENCE
SYSTEM (1)
• Marketing Intelligence system (MIS) refers to the process of collecting,
analyzing, and interpreting data from various sources to support
marketing decision-making.
• It involves gathering information about customers, competitors, and
market trends to identify opportunities and threats, and to inform
marketing strategies.
• MIS can provide valuable insights and support to marketing research
efforts, helping companies make data-driven decisions and improve their
marketing strategies.
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MARKETING INTELLIGENCE
SYSTEM (2)
Some examples of how MIS can be used in applied marketing research
are:
1) Competitor analysis: MIS can help companies monitor their competitors'
marketing strategies, pricing, and product offerings. For example, a
company might use MIS to track the online advertising campaigns of its
competitors, identify which keywords they are bidding on, and analyze
the effectiveness of their ads.
2) Customer profiling: MIS can also be used to gather information about
customer behavior, preferences, and needs. For example, a company
might use MIS to analyze social media data and identify trends in
customer sentiment and preferences.
3) Market research: MIS can support market research efforts by providing
insights into market trends, consumer behavior, and competitive
dynamics. For example, a company might use MIS to analyze sales
data, conduct surveys, or monitor social media to understand how
customer needs and preferences are evolving over time.
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MARKETING INTELLIGENCE
SYSTEM (3)
4) Marketing strategy development: MIS can inform the development of
marketing strategies by providing insights into consumer behavior and
preferences, as well as the competitive landscape. For example, a
company might use MIS to identify gaps in the market and develop
new products or services that address unmet customer needs.
5) Sales forecasting: MIS can also be used to forecast sales and demand
for products or services. For example, a company might use MIS to
analyze historical sales data and predict future sales based on market
trends and other factors.
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OWN VS. AGENCY MARKETING RESEARCH (1)

• In applied marketing research, companies can conduct their own research
or outsource it to marketing research agencies.
• The decision to conduct own research or hire an agency depends on
factors such as project scope, budget, expertise, and time constraints.
• Tata Group, Hindustan Unilever, Reliance Industries, ITC Limited and Infosys
are some of the companies which conduct own marketing research.
• Procter & Gamble, Coca-Cola, Nestle, Samsung and PepsiCo are some of
the companies which hire marketing research agencies.
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OWN VS. AGENCY MARKETING RESEARCH (2)

OWN MARKETING RESEARCH
• Small-scale projects: If a company needs to conduct a small-scale
research project, it may be more cost-effective to do it in-house. For
example, a local restaurant might conduct a survey of its customers to
gather feedback on its menu and service.
• Niche industries: If a company operates in a niche industry, it may be
more efficient to conduct its own research since it may be challenging to
find an agency with expertise in that specific industry. For example, a
startup that develops specialized software for a particular industry may
conduct its own research to understand customer needs and
preferences.
• Limited budget: If a company has a limited budget, it may opt to
conduct its own research instead of hiring an agency. For example, a
small business that wants to understand its local market might conduct a
focus group or survey to gather information.
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OWN VS. AGENCY MARKETING RESEARCH (3)

AGENCY MARKETING RESEARCH
• Large-scale projects: If a company needs to conduct a large-scale
research project, such as a national survey or customer segmentation
study, it may be more practical to hire an agency. For example, a
multinational company might hire a marketing research agency to
conduct a survey across several countries to understand consumer
behavior and preferences
• Complex research methodologies: If a company needs to conduct
research using complex methodologies, such as conjoint analysis or
multivariate regression, it may be more efficient to hire an agency with
specialized expertise. For example, a pharmaceutical company might
hire a marketing research agency to conduct a clinical trial to test the
efficacy of a new drug.
• Time-sensitive projects: If a company needs to conduct research on a
tight deadline, it may be more practical to hire an agency that can
devote more resources to the project. For example, a company might
need to conduct research quickly to respond to a sudden change in
market conditions.
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MARKETING INFORMATION SYSTEM (1)

• Marketing Information System (MIS) is a computerized system that collects,
analyzes, and disseminates information about an organization's marketing
environment, customers, competitors, and other factors that affect
marketing decisions. The primary purpose of MIS is to support the
marketing function by providing relevant and accurate information in a
timely manner.
• The meaning of Marketing Information System:
• Marketing Information System (MIS) is an organized system that collects,
processes, stores, and distributes information needed for making marketing
decisions in an organization.
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MARKETING INFORMATION SYSTEM (2)

• The need for Marketing Information System:
A Marketing Information System is essential for an organization to:
• Facilitate decision-making: MIS provides accurate and relevant
information to marketers that help them make informed decisions.
• Optimize marketing processes: MIS can help streamline marketing
processes, reduce costs, and improve efficiency.
• Enhance communication: MIS can help facilitate communication
between different marketing departments in an organization, as well as
between different levels of management.
• Provide competitive advantage: MIS can help organizations gain a
competitive advantage by providing access to real-time information that
can be used to respond quickly to changing market conditions.
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MARKETING INFORMATION SYSTEM (3)

• The components of Marketing Information System:
An MIS typically consists of the following components:
• Internal data: Internal data is information collected from within the
organization, such as sales data, customer data, and inventory data.
• Marketing intelligence: Marketing intelligence is information collected
from external sources, such as market research reports, competitor
analysis, and industry publications.
• Marketing research: Marketing research is the process of gathering,
analyzing, and interpreting data related to a particular market, product,
or service.
• Data analysis: Data analysis involves processing and interpreting the data
collected by the MIS.
• Information distribution: Information distribution involves disseminating the
information collected by the MIS to the relevant stakeholders in the
organization.
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MARKETING INFORMATION SYSTEM (4)

• The components of Marketing Information System (continued):
• Marketing decision support: Marketing decision support involves using the
information collected by the MIS to support marketing decision-making
processes.
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MARKETING INFORMATION SYSTEM AND

MARKETING RESEARCH (1)
• Marketing Information System (MIS) and Marketing Research are both
critical components of a company's marketing strategy. While MIS helps
gather and analyze information about the company's environment,
customers, competitors, and other factors that affect marketing
decisions, Marketing Research focuses on specific market insights and
trends.
• MIS and Marketing Research work together to inform and guide
marketing decisions. The MIS gathers data from various sources, including
internal and external sources, while Marketing Research helps analyze
and interpret this data, providing actionable insights for the company's
marketing strategy.
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MARKETING INFORMATION SYSTEM AND

MARKETING RESEARCH (2)
Some practical examples of MIS and Marketing Research in marketing:
• Nike's Marketing Information System and Market Research
• Nike's Marketing Information System collects data on subscribers'
viewing habits, preferences, and feedback, and this information is
then used to inform product development, advertising campaigns,
and marketing strategies.
• Nike conducts Marketing Research to understand customer needs,
preferences, and behaviour. The company uses surveys to identify the
latest trends in sports and fitness, as well as analyze social media
conversations to gain insights into customer sentiment about its
products.
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MARKETING INFORMATION SYSTEM AND

MARKETING RESEARCH (3)
• Procter & Gamble's Marketing Information System and Marketing
Research
• Procter & Gamble's Marketing Information System collects data on
customer preferences, as well as sales data from its distributors and
retailers. This information is used to inform product development,
marketing strategies, and pricing decisions.
• The company also conducts Marketing Research to assess market
trends, competition, and other factors that affect marketing
decisions. For example, Procter & Gamble may conduct focus groups
to test new advertising concepts or analyze consumer data to identify
emerging trends in the market.