CHAPTER 5: MARKETING RESEARCH

Presented by :Inamdar pawar Rahul Iyer Priya Jain

MARKETING RESEARCH
Marketing

Research is the systematic design of data collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

MARKETING RESEARCH PROCESS

1)

Define Problem & research objectives. 2) Develop the Research Plan 3) Collect the Information 4) Analyze the Information 5) Present the Findings

CHARACTERISTICS OF GOOD MARKETING RESEARCH

Research may have to overcome many problems chief of which are: 1. Narrow Conception of Marketing Research some managers view research as
act finding without clearly defined problems rather than information gathering

2. Uneven Caliber of Researchers

marketing research is not a clerical activity. 3. Late and Erroneous Results managers need timely results that are accurate, takes time and money. 4. Intellectual Differences - difference in style between managers and researchers can get in the way

OVERCOMING PROBLEMS

Rely on: 1) The scientific method - helps objectivity 2) Research Creativity quality of researcher. 3) Use of multiple methods helps reliability 4) Interdependence of explicit model and data select data gathering and research model best suited to analyzing the problem. Consider the cost versus the information when marking marketing research decisions. This is really a trade off.

TYPES OF RESEARCH

Exploratory you do not have a precise

problem formulation or do not know the problem. Mostly qualitative, lacks formal design. Should not be used for decision-making. Secondary data, experts, focus groups Conclusive Research These are used for decision making. Does not show cause and effect & you never know all the alternatives. Descriptive (describes characteristics of thing studies), Case History, statistical methods (set objectives, formal design, representative sample, quantitative data gathered and analyzed, reliability).

Causal Research

DATA SOURCES

Secondary Data Focus Groups Interviews Experts Knowledgeable Persons (Psych Tests) to get at underlying motivations Surveys (Mail, Telephone, E-mail, Mall) Simulations Case Histories

DATA COLLECTION
Sampling:

convenience, quota, snowball, judgment, shopping mall. Probability Systematic data collection process: simple random, stratified, cluster, area, multi-stage, proportional
Non-Probability

DATA ANALYSIS
Descriptive

Analysis Cross Tabulations Analysis of Variance (ANOVA) T-Test Regression Analysis Discriminant Analysis

DEMAND MEASUREMENT
Potential Market set of consumers who indicate a sufficient level of interest to something offered in the marketplace Available Market consumers with interest, income, and access to a given product. Qualified available Market consumers with interest, income, access and qualification to purchase a given product

DEMAND MEASUREMENT (Contd)

Target Market (served market). Target

market is the set of consumers that the firm wishes to go after with its marketing effort. Penetrated Market set of consumers actually buying the firms product. If not satisfied with current sales, a firm can take actions geared toward affecting the target market, or the potential market. Market Demand number of units that will be sold to a defined customer group in geographic area for a defined period of time under a defined marketing program. To modify demand seek to adjust any or all of the defined factors on which the total volume is based.

DEMAND MEASUREMENT
1. 2. 3.

4.
5. 6.

Market demand Market forecast Market potential Company demand Company sales forecast Company sales potential

ESTIMATING CURRENT DEMAND

Estimating current demand 1. Total market potential 2. Area market potential:

a) Market-buildup method b) Multiple-factor index method

3. Estimating industry sales and market shares

a) a) identifying competitors and estimating their sales

ESTIMATING FUTURE DEMAND

Estimating

Future Demand All forecast are built upon three information bases (1) what people say they will do (2) what people do, and (3) what people have done.

ESTIMATING FUTURE DEMAND (Contd)

Five main ways to assess future demand: 1) Survey of Buyer Intentions determine
what buyers are likely to do under certain conditions.

2) Composite of Sales Force Opinion ask

sales representatives to estimate their future sales and sum the individual estimates to arrive at the firms forecast

3) Expert Opinion/Delphi Method ask the

experts what they think

4) Past-Sales Analysis use time series

analysis, statistical demand analysis or econometric analysis to predict.

5) Market Test Method observing what buyers

do in a test market & using information to project to wider market.

THANK YOU.