MARKETING RESEARCH (MR) Presentation overview

What is MR?

Classification of MR jobs
Need and scope of MR

Marketing research vs. market research

The Marketing Research Process

What is MR?

MR is about researching the whole of a companys marketing process. MR is research on the problems of marketing Its purpose is to aid decision making in marketing Systematic gathering and analysis of information is what does in achieving its mission

Classification

Research Research Research Research Research Research Research

on on on on on on on

consumers market /demand product/ brand competition distribution price promotion

Need and scope of MR

Concerned with all aspects of marketing Product Design and development of product mix Packaging Branding Pricing Sales and distribution Segmenting Buying behaviour Advertisement

Marketing research vs. market research

Market research is the research in to a specific market It is a narrow concept Marketing research is much broader In addition to market research so many

The Marketing Research Process

AND RESEARCH OBJECTIVES

Step1. DEFINE THE PROBLEM

Marketing management must be careful not to define the problem too broadly or too narrowly for the marketing researcher. Usually the MR is done by external agencies MR research agencies are interested what the marketing people want to know and not why A problem well defined is half solved.

Step 2. DEVELOP THE RESEARCH

PLAN.

Plan for gathering the needed information Marketing manager need to know the cost of research plan before approving it. Designing a research plan calls for - data source - research approaches -research instruments - sampling plan etc.

Data sources

Primary data, secondary data or both

Primary data are data which are collected freshly for a specific purpose or for a specific research project Secondary data are data that were collected for another purpose and already exists some-where

Sources of secondary data

Internet Govt. information- Census report -Govt publications UN reports Customer data base Yellow pages/ business wise telephone directories Newspapers, technical journals, magazines, trade publications, balance sheet, stock market report, reference books &published reports of various MR agencies etc.

Primary data

Normal procedure is to interview some people individually or groups to get a sense of how they feel about the topic in question and then develop a formal research instrument, debug it and carry it into the field.

Research approaches
Primary data can be collected in five ways. 1.Observational research 2.Focus group research- A FG is a gathering of six to ten people who are invited to spend a few hours with a skilled moderator to discuss a product, service organization or other marketing entities 3.Survey research 4.Behavioural data- Regarding purchasing behavior 5.Experimantal research- Hypothesis testing etc.

Research instruments

Questionnaires- open ended and closed ended Psychological tools- Eg: Depth interviewing Mechanical devices like galvanometer - interest or emotions erased by exposure to a specific advertisement or picture Qualitative measures like videos, pagers etc.

Sampling plan
Three decisions. 1.Sampling unit-who is to be surveyed? 2.Sample size-How many people should be surveyed? 3.Sampling procedure-How should the respondent be chosen?

Sampling techniques
1.Probability sampling The sample units are selected at random. Every member of the population is having an equal chance of being selected.
2.Nonprabability sampling The sample units are selected in a non random manner. It is purposive or it may be based on the convenience or judgment of the researcher.

Probability Sampling Techniques

Simple random sampling-All items of

the population have equal chance of being selected.

Systematic sampling- selecting every n

th unit from the population after the beginning unit is selected at random

Stratified sampling- The population is divided

into mutually exclusive groups such as age groups and random samples are taken from each group

Cluster sampling (area sample)- mutually

exclusive areas

Nonprobability Sampling techniques.

Judgmental sampling- researcher selects

sample who are good prospects for accurate information

Convenience sampling- most accessible

population member

Quota sampling-The researcher finds and

interviews a prescribed number of persons in each of several categories

Step 3. COLLECT THE

INFORMATION

The data collection phase of MR is generally the most expensive and the most prone to error. 4 major problems arises in survey respondents may not be available Some respondents will refuse to co-operate May give biased answers Some may be dishonest

Step 4. ANALYSE THE

INFORMATION

Extract findings from the collected data The researcher tabulates the data and finds out frequency distribution. Statistical measures are calculated( Average, SD, range etc) Advanced statistical techniques like multiple regression, factor analysis, cluster analysis, conjoint analysis or multi dimensional scaling etc can be performed. Statistical packages like SPSS, Mini Tab Crystal Ball etc. can be used.

Step 5. PRESENT THE

FINDINGS

The researcher should present findings that are relevant to the marketing decisions facing management.

Step 6. MAKE THE DECISION

Managers will have to weigh the evidence. Findings could suffer from a variety of errors The may or may not accept the findings.

Marketing research agencies in India

Agency
ORG-MARG Indian market Research Bureau (IMRB) Taylor Nelson Sofres MODE AC Nielsen MBL-RCG

Business size ( Rs. Crores) 57.0

48.0 14.0 12.0 8.5