MARKET RESEARCH

ASSIGNMENT

Name:-Stuti Shrivastava
Roll no:- 21DM201
Q1. What are the steps in Marketing research project?

7 Stages or Steps Involved in Marketing Research Process are:

1. Identification and Defining the Problem

2. Statement of Research Objectives
3. Planning the Research Design or Designing the Research Study
4. Planning the Sample
5. Data Collection
6. Data Processing and Analysis
7. Formulating Conclusion, Preparing and Presenting the Report
Q2. Why is it important to define MR problem appropriately?

• Problem definition involves stating the general problem and identifying

the specific components of the marketing research problem.
• Only when the marketing research problem has been clearly defined can
research be designed and conducted properly.
• Of all the tasks in a marketing research project, none is more vital to the
ultimate fulfillment of a client’s needs than an accurate and adequate
definition of the research problem.
• All the effort, time, and money spent from this point on will be wasted if
the problem is misunderstood and ill-defined.
Q3. What are some reasons why the management is often
not clear about the problem?

• Problem Definition is too Broad

• Does Not Provide Guidelines for Subsequent Steps
• e.g., Improving the Company’s Image Problem Definition is
too Narrow
• May Miss Some Important Components of the Problem
• e.g. Changing Prices in Response to a Competitor’s Price
Change 20 The New Coke Fiasco
• Worried about “The Pepsi Challenge,” Coke conduct
Q4. What is the role of the researcher in problem definition
process?

• Researchers are employed to advance knowledge. You have a responsibility to

develop the capacity for “independent, honest and critical thought”
throughout your career
• Researchers have a responsibility to communicate their research, to collaborate
with others where appropriate and to transfer and exploit knowledge for the
benefit of your employer, the economy and society as a whole
• Researchers have a responsibility to behave honestly and ethically in the course
of their research. More detailed guidance on research ethics is available
• The ultimate responsibility for the personal and professional development of
researchers lies with the individual researcher.
Q5. What is problem audit?

• The problem audit is a comprehensive examination of a marketing problem with the

purpose of understanding its origin and nature.
1. The events that led to the decision that action is needed; the history of the problem.
2. The alternative courses of action available to the DM.
3. The criteria that will be used to evaluate the alternative courses of action.
4. The potential actions that are likely to be suggested based on the research findings.
5. The information that is needed to answer the DM's questions.
6. The manner in which the DM will use each item of information in making the
decision.
7. The corporate culture as it relates to decision making.
Q6. Key difference between Symptom and Problem

A problem has a solution whereas a symptom helps you to

identify a problem.
Research that adds value goes beyond the symptoms to address
the underlying causes. Only when the underlying causes are
identified can the problem be successfully addressed.
Q7. Key difference between Management Decision
Problem and Marketing Research Problem
Management Decision Problem
The management decision problem asks what the DM needs to do, whereas the marketing research problem ask
what information is needed and how it can best be obtained. The management decision problem is action
oriented.
It is concerned with the possible actions the DM could take.
•How should the loss of market share be arrested?
• Should the market be segmented differently?

Marketing Research Problem

The marketing research problem is information oriented. It wants to determine what information is needed to
make the best decision. It involves determining what information is needed and how that information can be
obtained effectively and efficiently. Whereas the management decision problem focuses on symptoms, the
marketing research problem focuses on underlying causes.
Q8. What are the types of error in determining
the Research problem?

Types of Sampling Errors

There are different categories of sampling errors:-

• Population-Specific Error
A population-specific error occurs when a researcher doesn't understand who to survey.
• Selection Error
Selection error occurs when the survey is self-selected, or when only those participants who are interested in the survey
respond to the questions. Researchers can attempt to overcome selection error by finding ways to encourage participation.
• Sample Frame Error
A sample frame error occurs when a sample is selected from the wrong population data.
• Non-response Error
A non-response error occurs when a useful response is not obtained from the surveys because researchers were unable
to contact potential respondents (or potential respondents refused to respond).
Q9.How are research questions related to the
components of the problem?
Research questions are refined statements of the specific components of the
problem. Although the components of the problem define the problem in specific
terms, further details maybe needed to develop an approach. Each component of the
problem may have to be broken down into sub-components or research questions.
Research questions ask what specific information is required with respect to the
problem components. If the research questions are answered by the research, then
the information obtained should aid the decision maker. The formulation of the
research questions should be guided not only by the problem definition but also by
the theoretical frame-work and the analytical model adopted. For a given
component, there are likely to be several research questions, as in the case of the
department store patronage project.
Q10.Is it necessary for every research to have an
hypothesis? Why and why not?

• An hypothesis is an explanation for an observed problem or

phenomenon based on previous knowledge or observations. Often
called a research question, a hypothesis is basically an idea that must be
put to the test.
• Research questions should lead to clear, testable predictions. The more
specific these predictions are, the easier it is to reduce the number of
ways in which the results could be explained. Some problems require a
fair amount of information and knowledge before one can formulate
useful hypotheses, particularly if the problems are complex in nature.
Q11.What are the different types of analytical
models
An analytical model is a set of variables and their interrelationships
designed to represent, in whole or in part, some real system or process.
1. Verbal models:- the variables and their relationships are stated in
prose form. Such models may be mere restatements of the main
tenets of a theory. (chart & statements)
2. Graphical models:- These are visual. They are used to isolate
variables and to suggest directions of relationships but are not
designed to provide numerical results (.e.g., AIDA model)
3. Mathematical models:- Mathematical models explicitly specify the
relationships among variables, usually in equation form.