ah, MBA research!

• Imagine you're a contestant on "Shark Tank," except your pitch is 50

pages long and filled with buzzwords like "synergy" and "disruptive
innovation.“
• You dig into case studies like they're juicy gossip, and you run
numbers like you're a gambler in Vegas—except your odds are backed
by data.
• And when you finally crack that killer strategy? You put it in a
PowerPoint so dazzling, even the finance folks wake up.
• Welcome to the high-stakes, high-reward world of MBA research!
 Marketing Research Companies
• Nielsen: A global measurement and data analytics company, known
for its media and consumer insights.
• Kantar: Specializes in a range of capabilities including brand,
communications, media, and consumer behavior.
• Ipsos: A global research company focusing on advertising, loyalty,
marketing, and media.
• Gartner: Known for its in-depth research and analysis reports in the IT
sector, but also has a strong focus on marketing.
• Forrester Research: Specializes in providing advice and market
research to help businesses make informed decisions.
What is
Marketing

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 What Research is “NOT”
• Merely Gathering Information - Like collecting business cards at a networking event, but
never following up with anyone. You have a stack of cards but no connections
• Rehashing Existing Knowledge - Like presenting the SWOT analysis of a lemonade stand
year after year, without adding any new business strategies or insight
• Personal Opinions or Anecdotes - Like claiming that every business should adopt your
grandma’s secret cookie recipe as a business model because "it’s a recipe for success."
• Unsystematic Exploration - Like deciding to diversify a company’s product line based on a
random drawing of ideas from a hat, instead of market research
• Biased Inquiry - Like conducting a survey to find out the best coffee brand, but all the
survey questions lead to the conclusion that it's the brand you own stock in.
• Lack of Documentation - Like claiming to have a groundbreaking business strategy, but it's
all in your head and you share it through interpretive dance instead of a business plan.
What is Research

• Research is defined as the systematic

process of inquiry that aims to explore
and investigate specific topics or issues in
a methodical manner. It involves the
collection, analysis, and interpretation of
information to gain a deeper
understanding and contribute to the
existing knowledge in a particular field of
study.
Redefining Marketing
Research
Used to identify and define
market opportunities and
problems
Generate, refine, and
Information evaluate marketing
performance
Monitor marketing
performance

Improve understanding of
marketing as a process
Definition of Marketing Research
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
 Backward Market Research
1. Determining how the research will be implemented (Helps defining the
problem).
2. Determining what the final report should contain and how it should look.
3. Specify the necessary analyses.
4. Determining the kind of data that must dissemble to carry out these analyses.
5. See if the data it is already available.
6. If not, then design instrument and sampling plan.
7. Carry out the field work.
8. Do the analysis, write the report, and see does it have the intent effect.
Hidden Traps in Decision Making -
Anchoring Trap
• Definition: Giving disproportionate weight to the first piece of
information received.
• Example:
• You're house hunting and the first house you see is listed at $500,000. All
subsequent houses are evaluated based on this price, even though market
value varies widely.
• Avoidance:
• Do independent research to understand the overall housing market, not just
one listing.
Sunk Cost Trap
• Definition: Continuing an action based on previously invested
resources (time, money, effort).
• Example:
• You've spent $1,000 on guitar lessons but aren't improving. Instead of
quitting, you pay for more lessons just because you've already invested.
• Avoidance:
• Make decisions based on future benefit, not past expenditures
Status Quo Trap
• Definition: Favoring alternatives that perpetuate the existing
situation.
• Example:
• You've always used the same software at work. A better version is available,
but you stick to the old one because it's "what you know."
• Avoidance:
• Always consider the opportunity cost and the benefits of change.
Confirming-Evidence Trap

• Definition: Seeking out information that confirms pre-existing beliefs or

decisions.
• Example:
• You buy a particular brand of smartphone and then only read reviews that confirm it's the
best, ignoring critical reviews.
• Avoidance:
• Actively seek out reviews or evidence that challenges your choices and beliefs.
Framing Trap
• Definition: Being influenced by the way a problem or decision
alternative is framed.
• Example:
• You are a policy-maker and presented with two identical healthcare plans. Plan
A claims to "save 300 out of 1000 lives," while Plan B states that "700 out of
1000 people will die." You are more likely to opt for Plan A, even though the
statistical outcomes are the same, just because it's framed in a positive light.
• Avoidance:
• Always try to reframe options and information in multiple ways to neutralize
the influence of the frame. For example, consider both the number of lives
saved and the number of lives lost in healthcare decisions.
A Classification of Marketing Research
A Classification of Marketing Research
 Problem-Solving Research

Determine basis of segmentation

Establish market potential and responsiveness for various segments
Select target markets and create lifestyle profiles, demography, media, and product image characteristics

Product Research Promotional Research

Test concept Optimal promotional budget
Optimal product design Sales promotion relationship
Package tests Optimal promotional mix
Product modification Copy decisions
Brand positioning and repositioning Media decisions
Test marketing Creative advertising testing
Control store tests Claim substantiation
blank Evaluation of advertising effectiveness
Pricing Research Distribution Research
Importance of price in brand selection Type of distribution
Pricing policies Attitudes of channel members
Product line pricing Intensity of wholesale and retail coverage
Price elasticity of demand Channel margins
Response to price changes Location of retail and wholesale outlets
Marketing Research Process
Step 1: Defining the Problem

Step 2: Developing an Approach to the Problem

Step 3: Formulating a Research Design

Step 4: Doing Field Work or Collecting Data

Step 5: Preparing and Analyzing Data

Step 6: Preparing and Presenting the Report

The Role of Marketing Research
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