MARKETING

RESEARCH & ANALYTICS

18MBAMM304

Dr.Vikrama D K
BE,MBA,MCom, Mphil, PhD, K-SET,LMISTE
Assistant Professor
Department of Management Studies
JNN College of Engineering
Shimoga
vikramadk@jnnce.ac.in
MARKETING RESEARCH

 The process of gathering, analyzing and interpreting

information about a market, about a product or
service to be offered for sale in that market, and
about the past, present and potential customers for
the product or service
COMMON FEATURE
 Marketing research is a function of a business
organization.
 It links marketer with consumer, customer and public.

 Information is the outcome of marketing research.

 It is an objective search- inquiry with a purpose

 It is systematic. It is based on a defined procedure and

uses standard methods.
 It is a process involving steps like: identification,
collection, analysis, and dissemination of information.
 It is purposeful.
WHEN MARKETING RESEARCH IS UNNECESSARY

 You don’t know what information you need.

 A study will be more costly than beneficial.

 The information you’re looking for is already out there.

 You might risk your competitive advantage.

 The resources are not available. 

 Scope of Marketing Research

• Product Research
• Customer Research
• Sales Research
• Promotion Research
MARKETING RESEARCH IN THE 21ST CENTURY

 Globalization Impact
 IT impact
THREATS TO MARKETING RESEARCH

 Methodology
 Usingsocial media for data collection and analysis
 Response rates
 Too many competing techniques

 Clientele
 Customers expect insights far too quickly
 Customers have dwindling budgets for Market Research
 “Insight schizophrenia”
 Outcomes
 Lack of actionable insights
 Lack of timeliness
 Lack of honest/integrity by data insights providers

 Technologies
 Big data
 Mobile technologies
 Social Media

 Differentiation
 Demonstrating unique value
 Staying relevant in changing times
 Avoiding commoditization
 Quality
 Samples are not representative
 Respondents are dishonest or unthoughtful
 Statistical assurances are not provided
 Can’t afford the good data

 Internal Talent
 Lack of experience and expertise
 Lack of critical thinking
 A transition from quality to quantity
 Customers don’t value MR expertise and insights
 Old and New Methods
 It’s
not “Old vs. New”, it’s “Traditional vs. Innovative”
 Traditional methodologies don’t meet client’s needs
 Innovative methodologies are confusing and unfocused
 The real answer is that both are needed

 Big Companies
 More funding
 Looser standards

 Communication
 What to do with consumer insights
 Lack of engagement from consumers/respondents
INTRODUCTION TO MARKETING INELEGANCE
WHAT IS MARKETING INTELLIGENCE
(MI)?

 Market intelligence is the information relevant to a

company's markets, gathered and analyzed specifically
for the purpose of accurate and confident decision-
making in determining strategy in areas such as market
opportunity, market penetration strategy, and market
development.
COMPONENTS OF MI
 Customer intelligence
COMPONENTS OF MI
 Competition intelligence
NEEDS OF MI

 Market intelligence techniques

 Market entry research
 Market assessment research
 Competitor intelligence research
 Needs assessment studies
 Branding research
 Market segmentation
DOMAINS OF MI
ETHICS IN MARKETING RESEARCH

 Deceptive Practices
 Attack on Privacy

 Breaches of Confidentiality

 Objectivity

 Allowing Subjectivity into the Research

 Selling Unnecessary Research

 Violating Client Confidentiality

 Client Ethics

 Requesting Bids to obtain free Advice and

Methodology
 Requesting Bids to Obtain and Methodology
 Making False Promises
 DO respect the rights of all research participants
 DO establish with the firm you have hired to conduct the
research that they are conducting it in your best interest,
not theirs