DEFINING THE MARKETING

RESEARCH PROBLEM AND

DEVELOPING AN

APPROACH

PRESENTED BY:

Mansi Doomra (130550034)

Mehak Puri (130550035)

Nidhi Aggarwal (130550039)

Shashank Kapoor (130550052)

Marketing Research has two words, viz., marketing and research.

Marketing means creating, communicating and delivering value to the customers & managing customer relationships.

Research means a systematic and complete study of a problem. It is done by experts. It uses scientific methods.

Thus, we can say, “Marketing Research is a systematic method of collecting, recording and analysing of data, which is used to solve marketing problems.”

What is Marketing Research? Meaning

Marketing research is "the process or set of processes that links the consumers, customers, and end users to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.

What is Marketing Research? Definition

THE PROBLEM DEFINITION PROCESS

DiscussionwithDecision Maker(s)

Interviewswith Experts

SecondaryData Analysis

QualitativeResearch

Management Decision Problem

Marketing Research Problem

Tasks Involved

Environmental Context of the Problem

Step I: Problem Definition

Step II: Approach to the Problem

Objective/ TheoreticalFoundations

ResearchQuestions

Hypotheses

Step III: Research Design

Analytical Model: Verbal, Graphical, Mathematical

SpecificationofInformationNeeded

Factors to be Considered in the Environment Context of the Problem

7

STEP 1

• Defining the problem is the most important step, because only when a problem has been clearly and accurately identified can a research project be conducted properly.

• Defining the marketing research problem sets the course of the entire project.

8

Importance of Defining the Problem

• Problem definition involves stating the general marketing research problem and identifying its specific components.

• Only when marketing research problem has been clearly defined can research be designed and conducted properly.

• Inadequate problem definition is a leading cause of failure of marketing research project.

• Better communication and more involvement in problem definition are the most frequently mentioned ways of improving the usefulness of research.

Tasks Involved in Problem Definition

Discussions with Decision Makers

Interviews with Industry Experts

Secondary Data Analysis

Qualitative Research

Environmental Context of the Problem

• To understand the background to a marketing research problem, the researcher must understand the client’s firm and industry.

• In particular, the researcher analyze the factors that have an impact on the definition of the marketing research problem such as: past information and forecast pertaining to the industry and

the firm; resources and constraints of the firm; objective of the decision maker; buyer behavior; legal environment; economic environment; and marketing and technological skills of the firm.

Management Decision Problem and Marketing Research 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.

• Research can provide the necessary information to make a sound decision.

• 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?

• 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.

Management Decision Problem and Marketing Research Problem

cont. …

Management Decision Problem versus Marketing Research

Problem

Marketing research

problem• Asks what information

is needed and how it should be obtained

• Information oriented• Focuses on the

underlying causes

Management decision

problem• Asks what the

decision maker needs to do

• Action oriented• Focuses on symptoms

Components of the Approach

• In the process of developing an approach, we must not lose sight of the goal - the outputs.

• The outputs of the approach development process should include the following components:• Objective/theoretical framework • Analytical models• Research Questions• Hypotheses, and• Specification of Information Needed.

RESEARCH DESIGN

• A master plan that specifies the methods and procedures for collecting and analyzing needed information.

• A research design encompasses the method and procedures employed to conduct scientific research. The design of a study defines the study type (descriptive, correlational, semi-experimental, experimental, review) and sub-type (e.g., descriptive-longitudinal case study), research question, hypotheses, independent and dependent variables, experimental design, and, if applicable, data collection methods and a statistical analysis plan.

WHAT IS RESEARCH DESIGN

PROCESS OF RESEARCH DESIGN

• Problem definition• Research design• Data collection• Data analysis• Interpretation of results• Reporting

Tasks Involved In a Research Design

Define the Information Needed

Design the Exploratory, Descriptive, and/or Causal Phases of the Research

Specify the Measurement and Scaling Procedures

Construct a Questionnaire

Specify the Sampling Process and the Sample Size

Develop a Plan of Data Analysis

Classification of Market Research Designs

Research Design

Exploratory Research

Conclusive Research

Secondary Data

Experience Surveys

Pilot Studies Case Studies

Research Design

Exploratory Research

Conclusive Research

Descriptive Design

Causal Design

Cross-sectional Study

Longitudinal Study

Secondary Data Study Observation

Experiment

Survey

Classification of Market Research Designs

• Usually conducted during the initial stage of the research process

• Purposes– To narrow the scope of the research

topic, and– To transform ambiguous problems into

well-defined ones.

EXPLORATORY RESEARCH

• Provide specific information that aids the decision maker in evaluating alternative courses of action

• Sound statistical methods & formal research methodologies are used to increase the reliability of the information

• Data sought tends to be specific & decisive• Also more structured & formal than

exploratory data

CONCLUSIVE RESEARCH

• Descriptive Research– Describes attitudes, perceptions,

characteristics, activities and situations.– Examines who, what, when, where, why, &

how questions

• Causal Research– Provides evidence that a cause-and-effect

relationship exists or does not exist.– Premise is that something (and independent

variable) directly influences the behavior of something else (the dependent variable).

TYPES OF CONCLUSIVE RESEARCH

• Build on previous information• Show relationships between variables• Representative samples required• Structured research plans• Require substantial resources• Conclusive findings

Common Characteristics of Descriptive Studies

• Logical Time Sequence– For causality to exist, the cause must either

precede or occur simultaneously with the effect

• Concomitant Variation– Extent to which the cause and effect vary together

as hypothesized

• Control for Other Possible Causal Factors

Common Characteristics of Causal Studies

SOME EXAMPLES OF MARKETING RESEARCH COMPANIES

DELPHI RESEARCH SERVICES PVT LTD.

(National Company)

Delphi research services pvt. ltdDelphi is a "specialist" market research and strategic consulting firm.Delphi was set up in 1991 by a small team of research practitioners. Delphi came into existence primarily to cater to the needs of Indian and international companies and multi-lateral agencies seeking high quality and actionable research in the areas of business-to-business /industrial research and social research. Since 1994, Delphi added one additional line of business - specialised consumer research exclusively for the service sector.Delphi's aim from Day One has been to stay lean and focused.Over the years, Delphi has made steady and solid progress with a growing base of renowned customers comprising leading Indian and international companies and multi-lateral organisations.Delphi's expertise is sought by companies in India, the Asean region, the Middle East and the USA.

AREAS OF SPECIALISATION

• INDUSTRIAL AND BUSINESS TO BUSINESS RESEARCH

• SOCIAL N DEVELOPMENT RELATED RESEARCH

• RESTRICTED AND SPECIALIZED CONSUMER RESEARCH

INFRASTUCTURE

•Headquartered at Bangalore, India's Silicon Valley, Delphi has a field infrastructure at Mumbai, Delhi and Calcutta.

•Data collection and processing are done in-house.The team has access to and hands-on familiarity with, a wide assortment of statistical and econometric software packages.

•Delphi has access to one of the finest in-house databases in the country relating to Indian industry meticulously developed and updated by Log In Information Services, a group company.

MAJOR CLIENTS

•Al Pharma (Norway) •Andrew Jergens (USA)

•Becton - Dickinson / Gainwell •Bank Muscat

•Cable & Wireless •Compact A/S ( Denmark)

•DANIDA •Dr. Reddy's Laboratories Ltd.

•Dumex (Denmark) •Getinge (Sweden, Hongong)

•GMR Group •HDFC Bank

•Harman Consumer Group(Denmark) •Helsa AG (Germany)

•High Value Horticulture Plc (UK) •India Meters Ltd.

•Indian Machine Tool Manufacturers Association (IMTMA)

•Indo Gulf Fertilisers & Chemicals Ltd.

•Interlux Group (Nigeria) •JBL (Denmark)

•Kao Corporation (Japan) •Kerry Foods (UK)

•Microland •Mid-Day Group

• Delphi has undertaken over 1,500 projects across diverse sectors such as Healthcare, Pharmaceuticals, Earth Moving Equipment, Material handling Equipment, Plastics, Construction and Building Materials, Petrochemicals, Plastics, Processed Food, Packaging, Real Estate, Retail etc. Its clients include leading Indian and International companies as well as multi-lateral organizations. 

Delphi has designed and executed customized projects in the Indian sub-continent, Asean (Singapore, Malaysia, Thailand, Indonesia, Vietnam, Philippines, Hong Kong, Korea, Taiwan), Middle East (UAE, Saudi Arabia, Oman, Iran, Turkey) and Africa. 

Our website (http://www.delphiindia.com) offers more information about our capabilities, credentials and services. Specialties B2B: Entry Decisions / Strategies; Competition Profiling; Industry Benchmarking, RETAIL: Assessing Locations for Chain Outlets / Malls, DEVELOPMENT : Micro Finance; Baseline, Impact Assessment ; Diagnosing Health, Sustainability of Small Industrial Clusters

Gartner, Inc.(International Company)

Type Public company

Traded as NYSE: IT

Industry Research

Founded 1979

Headquarters Stamford, ConnecticutUnited States

Key people Gene Hall (CEO)Christopher J. Lafond (CFO)Darko Hrelic (CIO)

Products ResearchConsultingEvents

Revenue $1.615 billion (2012)

Net income $165.9 million (2012)

Employees 5,300 (2013)

Website www.gartner.com

Gartner, Inc. (NYSE: IT) is the world's leading information technology research and advisory company. We deliver the technology-related insight necessary for our clients to make the right decisions, every day. From CIOs and senior IT leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to technology investors, we are the valuable partner to clients in over 13,000 distinct organizations. Through the resources of Gartner Research, Gartner Executive Programs, Gartner Consulting and Gartner Events, we work with every client to research, analyse and interpret the business of IT within the context of their individual role. Founded in 1979, Gartner is headquartered in Stamford, Connecticut, USA, and has 5,700 associates, including more than 1,435 research analysts and consultants, and clients in 85 countries.

INTRODUCTION

We bring together Research insight, Benchmarking data, problem-solving methodologies and hands on experience to improve the return on your IT investment.

UNDERSTANDING: WE KNOW THE ISSUES YOU FACE80% of the Fortune 500 use Gartner for their key technology initiativesWe deliver business value in over 1500 high-impact initiatives a yearEvery year, we deliver over 5,500 IT cost and performance benchmarks

CAPABILITIES: THE DATA, TOOLS AND CAPABILITIES TO HELPGartner solutions address the specific needs of each industryAll of our solutions are based on Gartner's extensive ResearchEvery solution makes use of our performance benchmarking dataWe employ seasoned consultants, with an average of 15 years experience

EXPERIENCE: WE HELP YOU DELIVER TANGIBLE RESULTSOur clients spend 38% less than their peers for the same workloadGartner Contract Optimization Services help our clients realize hundreds of millions of dollars of real and measured savings annuallyOur consulting engagements help clients improve performance... and reduce risk

SERVICES

Telecomm Client Saves €40 MillionWhen a large telecommunications company needed to improve service provider relationships, lower costs and reduce long procurement cycles, Gartner Consulting was called on to help.

PRESS RELEASE

BUSINESS CHALLENGES:

Unproductive relationships with service providersUnclear contract pricing structuresIssues over value for services received

APPROACH / DIFFERENTIATION:

Supported pricing discussions with service providers using up-to-date benchmarksDeveloped new governance model to improve service provider relationshipsHelped guide productive contract reviews

RESULTS:

Over €40 million in savings identifiedReduced time to negotiate new agreements by using benchmark dataImproved relationship with major service provider to achieve higher service value