market research ppt 1
TRANSCRIPT
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vddf 1
Chapter One
Introduction to Marketing Research
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Chapter Outline
1) Overview
2) Definition of Marketing Research
3) A Classification of Marketing Research
4) Marketing Research Process
5) The Nature of Marketing Research
6) Marketing Research Suppliers and Services
7) Selecting a Research Supplier
8) Careers in Marketing Research
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Chapter Outline
9) The Role of Marketing Research in MIS and DSS
10) The Department Store Project
11) Marketing Research Associations Online
12) Summary
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Marketing Research
‘The systematic gathering, recording and analysing of
data about problems relating to the marketing of goods and
services’
American Marketing Association
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Redefining Marketing Research
The American Marketing Association (AMA) redefined Marketing Research as:
The function which links the consumer, the
customer, and public to the marketer
through INFORMATION
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Used to identify and define market opportunities and problems
Generate, refine, and evaluate marketing performance
Monitor marketing performance
Improve understanding of marketing as a process
Redefining Marketing Research
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Therefore…..
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.
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Market Research
Specifies the information necessary to address these issues
Manages and implements the data collection process
Analyzes the results Communicates the findings and
their implications
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Science or Art? Objectivity of Investigator
Unbiased Procedural integrity Accurate reporting
Accuracy of Measurement Valid and Reliable Meaningful and useful Appropriate design (sample, execution)
Open-minded to Findings Willing to refute expectations Acknowledge limitations
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Science or Art? Objectivity of Investigator
Unbiased Procedural integrity Accurate reporting
Accuracy of Measurement Valid and Reliable Meaningful and useful Appropriate design (sample, execution)
Open-minded to Findings Willing to refute expectations Acknowledge limitations
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Difficulties of Achieving “Scientific Studies” in Marketing Investigator is deeply involved
in the use of the results. Imprecise measuring devices Very complex and interrelated
subject matter Difficulty using experiments Influence of the measurement
process on results Time pressure for results
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1-15Classification of Marketing Research
Problem Identification Research Research undertaken to help identify problems
which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research.
Problem Solving Research Research undertaken to help solve specific
marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.
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1-16A Classification of Marketing Research
Marketing Research
Problem Identification Research
Problem Solving Research
Market Potential ResearchMarket Share ResearchMarket Characteristics ResearchSales Analysis ResearchForecasting ResearchBusiness Trends Research
Segmentation Research
Product Research
Promotion Research
Distribution Research
Fig 1.1
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Eureka Forbes….
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Problem Solving Research
Determine the basis of segmentation
Establish market potential and responsiveness for various segments
Select target markets
Create lifestyle profiles: demography, media, and product image characteristics
SEGMENTATION RESEARCH
Test concept
Determine optimal product design
Package tests
Product modification
Brand positioning and repositioning
Test marketing
Control score tests
PRODUCT RESEARCH
Table 1.1
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Samsung 3 Door Refrigerator
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1-21Fashionable Swatch Wrist Watches
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Problem Solving ResearchTable 1.1 cont.
PRICING RESEARCH
Pricing policies
Importance of price in brand selection
Product line pricing
Price elasticity of demand
Initiating and responding to price changes
$ALE
PROMOTIONAL RESEARCH
Optimal promotional budget
Sales promotion relationship
Optimal promotional mix
Copy decisions
Media decisions
Creative advertising testing
Evaluation of advertising effectiveness
Claim substantiation
0.00% APR
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The New Titan Raga Collection
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Problem Solving ResearchTable 1.1 cont.
DISTRIBUTION RESEARCH
Determine…
Types of distribution
Attitudes of channel members
Intensity of wholesale & resale coverage
Channel margins
Location of retail and wholesale outlets
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Marketing Research Process
Step 1: Problem Definition
Step 2: Development of an Approach to the Problem
Step 3: Research Design Formulation
Step 4: Fieldwork or Data Collection
Step 5: Data Preparation and Analysis
Step 6: Report Preparation and Presentation
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The Role of Marketing Research
ControllableMarketing
•Product
•Pricing
•Promotion
•Distribution
Variables
Marketing Research
MarketingDecisionMaking
ProvidingInformation
AssessingInformationNeeds
Marketing Managers
• Market Segmentation
• Performance & Control
• Target Market Selection• Marketing Programs
UncontrollableEnvironmentalFactors
•Economy
•Technology
•Laws & Regulations
•Social & Cultural Factors
•Political Factors
Customer Groups
• Employees• Shareholders
Suppliers•
• Consumers
Fig 1.2
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The role of MR in Marketing decision making: MR is being surrounded by Marketing
managers, Customer groups, Controllable marketing variables and Uncontrollable environmental factors.
Assessing information needs, providing information and marketing decision making will supplement the MR.
Marketing managers have to take care of market segmentation, target market selection, marketing programes and performance and control.
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MR & Competitive Intelligence:
Competitive intelligence may be defined as the process of enhancing market place competitiveness through a greater understanding of a firm’s competitors and the competitive environment.
It involves the legal collection and analysis of information regarding the capabilities, vulnerabilities and intentions of business competitors, conducted by using information databases and other open sources and through ethical marketing research inquiry.
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1-31Marketing Research Suppliers & Services
LIMITED SERVICE
BrandedProducts
and Services
DataAnalysisServices
AnalyticalServices
Coding and Data Entry Services
Field Services
FULL SERVICE
SyndicateServices
StandardizedServices
Customized
Services
InternetServices
RESEARCHSUPPLIERS EXTERNALINTERNAL
Fig 1.3
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1-32Selected Marketing ResearchCareer Descriptions
Vice-President of Marketing Research: The senior position in marketing research. The vice president (VP) is responsible for the entire marketing research operation of the company and serves on the top management team. This person sets the objectives and goals of the marketing research department.
Research Director: Also a senior position. The research director has the general responsibility for the development and execution of all the marketing research projects.
Assistant Director of Research: Serves as an administrative assistant to the director and supervises some of the other marketing research staff members.
(Senior) Project Manager: Has overall responsibility for design, implementation, and management of research projects.
Statistician/Data Processing Specialist: Serves as an expert on theory and application of statistical techniques. Responsibilities include experimental design, data processing, and analysis.
Fig 1.4
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Selected Marketing Research Career Descriptions
Vice President of Marketing Research
• Part of company’s top
management team
• Directs company’s entire market
research operation
• Sets the goals & objectives of the
marketing research department
Research Director
• Also part of senior
management
• Heads the development
and execution of all
research projects
Assistant Director of Research
•Administrative assistant to director
•Supervises research staff members
Senior Project Manager• Responsible for design, implementation, & research projects
Fig 1.4 cont.
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Analyst• Handles details in execution of
project• Designs & pretests questionnaires• Conducts preliminary analysis of
data
Junior Analyst• Secondary data analysis• Edits and codes questionnaires• Conducts preliminary analysis of data
Fieldwork Director• Handles selection, training, supervision, and evaluation of interviewers and field workers
Senior Analyst• Participates in the development of projects• Carries out execution of assigned projects• Coordinates the efforts of analyst, junior analyst, & other personnel in the
development of research design and data collection• Prepares final report
Fig 1.4 cont.
Statistician/Data Processing• Serves as expert on theory and
application on statistical techniques• Oversees experimental design, data
processing, and analysis
Selected Marketing Research Career Descriptions
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1-35Marketing Research Suppliers & Services
Internal suppliers External suppliers
Full-service suppliers Syndicated services Standardized services Customized services Internet services
Limited-service suppliers Field services Coding and data entry services Analytical services Data analysis services Branded marketing research products
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1-36Criteria for Selecting a Research Supplier
What is the reputation of the supplier? Do they complete projects on schedule? Are they known for maintaining ethical standards? Are they flexible? Are their research projects of high quality? What kind and how much experience does the
supplier have? Has the firm had experience with projects similar to this one?
Do the supplier's personnel have both technical and non-technical expertise?
Can they communicate well with the client? Competitive bids should be obtained and
compared on the basis of quality as well as price.
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Careers in Marketing Research
1.Career opportunities are available with marketing research firms (e.g., AC Nielsen, Burke, Inc., M/A/R/C)
2.Careers in business and non-business firms and agencies with in-house marketing research departments (e.g., Procter & Gamble, Coca-Cola, AT & T, the Federal Trade Commission, United States Census Bureau)
3.Advertising agencies (e.g., BBDO International, Ogilvy & Mather, J. Walter Thompson, Young & Rubicam)
4.Positions: vice president of marketing research, research director, assistant director of research, project manager, field work director, statistician/data processing specialist, senior analyst, analyst, junior analyst, and operational supervisor.
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1-38Preparation for a Career in Mktg. Research
1.Take all the marketing courses you can.
2.Take courses in statistics and quantitative methods.
3.Acquire Internet and computer skills. Knowledge of programming languages is an added asset.
4.Take courses in psychology and consumer behavior.
5.Acquire effective written and verbal communication skills.
6.Think creatively. Creativity and common sense command a premium in marketing research.
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Management Information Systems vs.Decision Support Systems
Unstructured Problems
Use of Models
User Friendly Interaction
Adaptability
Can Improve Decision
Making by Using “What if”
Analysis
DSSMIS
Structured Problems
Use of Reports
Rigid Structure
Information Displaying
Restricted
Can Improve Decision Making
by Clarifying Data
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The Dept. Store Project
The following information was solicited:1. Familiarity with the ten department stores.2. Frequency with which household members shopped at
each of the ten stores.3. Relative importance attached to each of the eight
factors of the choice criteria. 4. Evaluation of the ten stores on each of the eight
factors of the choice criteria.5. Preference ratings for each store.6. Rankings of the ten stores (from most preferred to
least preferred).7. Degree of agreement with 21 lifestyle statements.8. Standard demographic characteristics (age, education,
etc.)9. Name, address, and telephone number.
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M.R. Agencies: In India: Lintas India Ltd. & Pathfinders India IMRB – Indian Marketing Research Bureau HTA – Hindustan Thompson Associates Ltd. MARG – Marketing & Advertising Research Group ORG – Operations Research Group NCAER – National Council of Applied Economic
Research MODE – Marketing Operations Design and Enquiry
Service MRAS – Marketing Research and Advisory Services MBS – Marketing and Business Associates CSO & CSB – Central Statistical Organization &
Bureau
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IMRB
It is the largest MR agency in India, promoted by HTA (Hindusthan Thompson Associates), established in 1971.
The wide ranging research services provided by IMRB can be classified into two broad categories:1. Customer Specific Research services :=>Consumer Research=>Industrial Market Research=>Qualitative Research=>Media Research ….contd
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IMRB
2.Syndicated Research Services (Especially in the field of Market Measurement and Media planning): =>The National Readership Survey (NRS)=>Businessmen’s Readership Survey (BRS)=>Television Rating Points (TRP) System=>Market Pulse – household purchase panel=>Rural Market Probe
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Other Studies ORG :
=>Retail Stores Audit on Consumer Products as well as Pharmaceutical Products=>Prescription Audit =>Market Pulse
Government Publications : =>Statistical Abstract of India=>Annual Survey of Industries=>Reserve Bank Bulletins=>Census Report
Non – Government Publications
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Domestic
AAPOR: American Association for Public Opinion Research (www.aapor.org)
AMA: American Marketing Association (www.ama.org)
ARF: The Advertising Research Foundation (www.amic.com/arf)
CASRO: The Council of American Survey Research Organizations (www.casro.org)
MRA: Marketing Research Association (www.mra-net.org)
QRCA: Qualitative Research Consultants Association (www.qrca.org)
RIC: Research Industry Coalition (www.research industry.org)
Marketing Research Associations Online
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International
ESOMAR: European Society for Opinion and Marketing Research (www.esomar.nl)
MRS: The Market Research Society (UK) (www.marketresearch.org.uk)
MRSA: The Market Research Society of Australia (www.mrsa.com.au)
PMRS: The Professional Marketing Research Society (Canada) (www.pmrs-aprm.com)
Marketing Research Associations Online
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HORIZONS/OPPORTUNITIESHORIZONS/OPPORTUNITIESHORIZONS/OPPORTUNITIESHORIZONS/OPPORTUNITIES
Re-define the market for MRRe-define the market for MR
Address industry issues
pro-actively
Address industry issues
pro-actively
Develop new business models
Develop new business models
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I Issues & Trends in M.R.: Importance of Marketing strategy Product variety & customization Emphasis on quality Advanced technology In creased complexity of business environment Intense competition. Customized research---- A type of research conducted by the
MR Agency for its client. The whole research project is designed to collect the information as required by a particular client.
In-house research----Research conducted by the staff within the firm.
Outside- research services( hiring) --- Include MR Agencies, Ad Agencies (copy research) & Consultants.
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Some recent trends:
More than 72% of the firms are investing on Innovation.
Customer delight at low cost – through e- marketing.
Right Ergonomics pays rich dividends - ROI, studies have shown that a return of up to $ 17.80 for every $1 invested.
The new practice of Global Product Development - Current approach includes, co- location of cross- functional teams, to foster close collaboration among engineering, marketing, manufacturing and supply- chain functions.
Sales by Multi- product Retailers…
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