Marketing Research

December 2021 Examination

Q1. A fast-moving consumer goods (FMCG) company has an established cooking

oil brand named "Good Life." The company enjoys the second highest market
share in this segment and is a familiar brand. The market leader in this segment
has started offering 1 LTR pouch free with 5 LTR can, which has increased the
leader's market share and has decreased the market share of "Good Life." From a
reliable source, the company understands that the current promotion of the
market leader will be continued for the next six months. "Good Life" is
contemplating a significant price reduction by offering 5LTRs of "Good Life" at
the price of 4 LTRs. They feel that an additional 1 LTR pouch on the 5LTR can
incur the cost of production, packaging, and the transportation cost of the free
pouch, though it already offers a 1 LTR pouch in the market. Some executives in
"Good Life" feel that the customer may find a free 1 LTR pouch with the 5 LTR
more attractive and value for money than the price reduction. The question in
front of "Good Life" is whether to offer a 1 LTR pouch free with a 5 LTR can OR
reduce the price of the 5 LTR can to the Price of 4 LTRs. The company has
appointed a market research (MR) firm to determine which option they should
adopt. Which research design should the MR firm use to arrive at an answer to
this problem? 

How should be this research design implemented? (10 Marks)

Ans 1.
Introduction
Research plays a major role in locating a solution to nearly every problem that faces
mankind. It is important to acknowledge that studies can provide an understanding of
issues inside the field of generation, media research, science, art, and way of life,
mathematics, and others. As a researcher, you must gather records and other
documents for the sake of research. If you are interested in researching each theoretical
and clinical foundation, you can do that. An employer can record its exploration into the
unknown with a process-oriented approach that utilizes the layout of a study in order to
preserve its adventure. The research design is differentiated into different ideas:
qualitative research layout and quantitative studies layout. There are four other
essential traits of studies design: neutrality, generalization, reliability, and validity. A
researcher must have a clear vision of how his mission can be implemented in the
research layout.

Concept and application

Quantitative research design is a type of research design in which the researcher

examines the unique variables in tandem with numbers for the purpose of analyzing an
undertaking. Using graphs, pie charts, and figures to collect the information, he mainly
uses graphics in order to present his findings. However, the qualitative research layout
is very different from the quantitative research layout. The nature of qualitative research
is explanatory, and it always needs answers to the way it indicates and what. The
primary cognizance is on the question of why a selected theory exists. The researcher
ends in an end with pertinent data and findings. Qualitative studies layout mainly
includes case studies to understand one-of-a-kind social complexities.

Research designs can be classified into five types:

1- Descriptive research design-

A research plan layout is a method of describing a situation in a comprehensive way to

the researcher, and this is done by explaining it extensively in the research plan. This
research is based totally on theories in which the character is responsible for gathering,
organizing, presenting, and analyzing information, as well as facilitating the
dissemination of that information in an understandable manner. The design of a study of
this type is by far one of the most common shapes.
It is my pleasure to introduce the entire research cloth to you in this article.

2- Experimental research layout- Experimental research layout builds a dating

between purpose and impact. The research layout could be very informal, but one
observes the effect of the independent component on the based element. For example,
someone monitors the influence regularly independent variable, which includes a cost
on a dependent variable including consumer satisfaction. It is a way that is distinctly
sensible as it contributes to getting an end. It is considered a social science that
absorbs a character's behavior. Researchers take a look at how individuals behave
around them via know-how in their psychology.

3. Correlational research design: Correlational studies design is a non-experimental

design to stop. It is a way that allows corporations to establish a courting among
variables that might be closely linked. The type of research wishes specific
organizations. Statistical evaluation is a way that calculates the relationship between
one's variables. There may be no exception while comparing the relationship among
them. There may be a correlation coefficient that finds the correlation between the two
variables. The two coefficients are -1 and. If the correlation coefficient leads towards
plus one, it tells an effective relationship between the two variables. If the correlation
coefficient is leaning towards -1, there is a negative courting among the two variables.

4- Diagnostic research layout is a research design in which the researcher appears to

assess the purpose of a specific phenomenon. The technique helps someone to
examine extra about the points that create problematic situations. The diagnostic
studies layout has three parts: analysis of the difficulty, the inception of the hassle, and
the answer for the case.

5- Explanatory research layout- Essentially, it's a study design that utilises the ideas
of a researcher to discover more about their theories in greater detail. There are many
factors that are still largely unexplored in regards to a subject that require explanation in
order to be fully understood by the reader.

Conclusion
It is a significant undertaking to impose a study's design, as it has many foundational
characteristics. In order to melt a study's design, implementation research is needed. An
investigation is carried out into how the invention solves all of the use-related problems.
Inside the above-given case, FMCG needs to decide on experimental studies design.
The research layout will assist the enterprise come to a solution to be helpful for both
the business enterprise and the clients. This study's design establishes a bond between
the reason and the after-effects of a particular scenario. Also, experimental research
design finds out the factors by which a corporation can satisfy clients' necessities.
Implementation of research design is not an easy task as it requires quite a few
attempts and a perfect approach. Experimental research also helps a company collect
all the vital facts about the business enterprise's hypothesis. It is the maximum sensible
and correct research method. Consequently, if an organization desires to meet its
clients' requirements and wants to make an income, it should layout a good studies
design. A terrific research layout can clear up problems and locate answers, which is
pleasant for the organization.

Q2. A leading car manufacturer wants to measure current customers' customer

satisfaction towards the vehicle's annual maintenance service by its designated
service stations. Design a questionnaire to measure customer satisfaction
towards the service offered by the designated service stations. Measure the
different aspects of the service from the intimation of the service requirement to
final delivery and feedback, including all aspects of the service. Use appropriate
questions and scales in the questionnaire to derive the overall satisfaction
towards the service station. (10 Marks)

Ans 2.
Introduction
It is possible to track the satisfaction of customers by completing a customer satisfaction
survey. This information will help you understand how your products, offerings, and
services are receiving positive feedback by your customers. It is not necessary for them
to perform the simplest review of your product, Andrade; nevertheless, customer
satisfaction also helps you improve your offerings, the quality of your product, and your
development strategy. As much as possible, companies should provide their customers
with a great customer experience, premium products, and high-quality services.
However, the question is how you will get to recognize upload your company is giving
first-class. In this situation, the first-rate element to do is to send surveys for your clients
frequently and ask good client satisfaction survey questions. A survey questionnaire
holds significance in bringing achievement for a company because it helps improve the
performance of the work.

Concept and application

A customer can choose from a variety of questions according to their corporate

interests, which have been divided into four categories. The businesses are customer
effort even as handling the product and the website itself, comments on the product or
service com overall experience together with your company, and your organization's
role towards the competition in the market.

1- Feedback on the products and services that were surveyed

A product survey is a powerful way to discover what their consumers consider your
items. If you run a surface before launching your product, it facilitates you already know
what your clients expect. Alternatively, you can also place present merchandise surveys
to understand how client’s revels in the complete enjoy. Some of the fundamental
questions beneath this remarks survey are:

a- Which of the following words would you use to illustrate our service or
product? - You must realize that how your customers describe your product. It is vital
because it offers perception into your product. If you don't need to provide an idea to
your customer, you could place the query in front of them about your product. But giving
options can also work smoothly for the clients.

b- How well does your product meet your wishes? - This query should be there in
an organization’s questionnaire because it tells whether or not your product is meeting
the wishes or necessities of your customer or now not. It also states whether your
product brings any productiveness for your customer's life or no longer.

c- You could consist of comments questions like which four features are the most
valuable to you-

This question asks the customers what three main capabilities they like the most
approximately your product. by using knowledge about your product's most favored
capabilities, and you may consciousness more on that department. People can also
select functions that they bear in mind secondary.

d- What are the three vital functions lacking inside the product?- It's far enormous
that a single product can't offer everything to a consumer. But by asking this question,
you can realize what your customer wishes and how you could improve or improvise
your product.

e- If you could trade one component about the services or products, what would
it be? The query is requested not to understand any lacking characteristic but
approximately an existing part that is inappropriate for the customers. The primary
purpose is to improve purchaser retention. Take all the propositions made by using your
audience. In most cases, work at the most frequent ones.

f- How could you charge the prize money for the product? - This query permit you
to understand how your consumers experience approximately the price of your product
will stop. It will inform you whether the product is too steeply-priced or introduced
equate to the excellent it offers. You may meet your financial goals with the aid of
launching a few discounts or income also.

2- Consumer attempt survey questions

The most not unusual questions below this survey are:

a- Is it clean to navigate our internet site?- It tells about a client's experience while
exploring your website
b- should you discover the information you have been attempting to find on our
company’s website?- It tells whether your website changed into easy to get entry to
and had all the relevant information to your target audience.

c- was our website able to match your expectancies?-

It tells that how few attempts your customers made while accessing your website.

d- Have we been responsive to your questions about our products or services?

E- Do you agree with a statement that our corporation made it clean on the way to deal
with your troubles?

3- Feedback on your position against your competition in the market survey questions
a- Are our products or services exceptional higher, duplicate, or birds than our
competition?

b- What's the reason that you choose our product in place of our competitor's?

a- Widespread enjoy survey questions- The survey includes questions like how much a
great deal you could offer us on the scale from zero to 10?

b- Will you purchase our product again or now not?

c- Would you endorse our product to someone else?

d- Is there whatever you would like to realize about us?

Conclusion

It is crucial to have a survey questionnaire when you want to collect information

regarding your product. You need to answer all the questions provided in this survey on
behalf of the purchaser in order to know every detail about your product or service.

Q3. A high-end SUV from U K has been launched in India. The vehicle is targeted
at well-educated, upper class, premium customers with a sophisticated lifestyle
who enjoy high technology, great driving pleasure, and the pride of owning a
premium vehicle. The company is planning to launch a new television advertising
campaign in January 2022.

a. As a media research consultant, what media strategy will you suggest so that
the campaign can reach the maximum target audience? (5 Marks

Ans 3a.
Introduction
The purpose of a media strategy is to attract a specific audience to your brand. To be
able to attract and entice the audiences that you are targeting, it is crucial you discover
what you do. Creating a media campaign is the most obvious and important reason to
make sure that your business enterprise meets its objectives. If you wish to improve the
public relations of your organization, then you need to use a specific technique. It is
possible to create a media campaign using a variety of media styles such as print,
social media, television, websites, podcasts, radio, and many others to accomplish
desired objectives. All media strategies have the same approach even as they are
within the process of development.

Concept and application

An organization needs to follow the positive elements of a media strategy in order to

achieve its objectives. Every media approach involves a number of fundamental steps
that might be present in each one:

1- Conduct a market analysis and identify your target audience. Collect all of the
demographics of your goal market. The more you already know your target market, the
greater effective your media marketing strategy can be. Have statistics about How,
while, and in which your audience generally spends their time. Perceive the media
channel that's best to attain them. For instance, marketing through social media can be
extra effective in reaching a teenage audience.
2- The goal needs to be measurable - Include your marketing targets even as growing
a method. Use the wise approach, which provides for achievable, specific, sensible,
time-based totally, and quantifiable factors. The straightforward intention is not to make
extra money; however, to keep your target market satisfied and happy complete stop

3- Determine your marketing price range- Marketing budget is likewise a big part of a
media method for a halt. If there's no budget, an organization can throw lots of bucks,
add difficulty and get no conclusion. You need to have a fixed budget for your media
strategy.

3- Craft your message- makes sure the message you may be delivered to your
audience needs to be clear and crisp. The letter has to be appealing to the target
market. A unique and informing word can help your company.

5- Analyze your mistakes and results- Your media method has to evolve with time. In
case your cutting-edge advertising approach is not giving the favored results, then your
company needs to learn from the failures and improvise the manner.

Conclusion

In cases like the one mentioned above, all of the factors given above must be taken into
account when choosing the media method for an SUV business. A media strategy is a
precis of the entirety you propose to gain. It helps you to reach your audience and
deliver the predicted results. Keeping the current time in mind, the media strategy uses
social media to talk with the audience.

Qb. Once the ads are aired on Television, the recall and recognition of the ads
have to be tested on the next day of airing and after the completion of the first
month. Which tests will you use to measure recall and recognition, and how will
you conduct them? (5 Marks)

Ans 3b.
Introduction
Those who can recall an advertisement's effectiveness will be able to attest to its
effectiveness. We would like to ask someone to make sure that advertising messages
are not forgotten. Users are examined in order to see whether their actions following
receiving a particular advertisement or marketing campaign had any after-effects on
them. It turns out that that marketing campaign proved to be a huge success if the
consumer considers it to be accompanied by an advertisement. Don't forget and
recognition is a measuring check that enables determine the success of a selected
marketing campaign run using a company.

Concept and application

In order to determine which brands to consider, there are several categories to

consider. The concept of doing a did consider is defined as a reference to when you tell
someone to recall a campaign. Usually if you would not be able to give a clue about a
selected marketing campaign to someone, this is known as unaided recall. The memory
isn't like popularity. As a recognition method, someone is asked to pick an object he has
seen previously. A keep in mind takes a look at allows a company to get remarks from a
client, who can improve the first-class and service of their products. Day after recall
check is a form of bear in mind take a look at in which a patron is asked about an advert
after 24 hours. Many factors affect recollect test effects. A number of the essential
elements affecting the recall test are:

1- Encoding specificity- In a method, people encode facts with their context. The
memory of someone takes clues from the surroundings and codes the data.

2- Nation-dependent learning- If an individual's retrieval and encoding suit, his

reminiscence could be higher.

3- Appropriate transfer processing- The reminiscence can be more excellent if

encoding and retrieval are healthy.

4- Ranges of processing theory- Deeper processing outcomes in better retrieval and

encoding.
Conclusion

Ultimately, we can conclude that consider and reputation are tests that can quantify the
results and effect of an advertising campaign in the long run. Nowadays, the sector of
advertising and advertising is all approximately reaching targeted customers and
generating revenues. The primary purpose of a recall survey is to recognize answers to
many questions like who clicked our advertisement. How plenty engagement did our
marketing campaign have? What became the cost per click on? And how do
impressions appear to be? Recall marketplace studies add comments, intensity, and
cost to a corporation's advertising campaigns. Therefore, there's absolute confidence
that the recall and popularity tests are very green in getting sincere company
comments. In addition, they assist in enhancing and growing new marketing strategies.