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    05 - Marketing Information and Research

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    This document provides an overview of marketing research. It defines marketing research and outlines its objectives, nature, scope, approaches, types, and processes. Key points covered include exploring, describing, predicting and understanding customer behavior; defining problems and opportunities; developing research plans and instruments; collecting and analyzing data; and using findings to inform marketing decisions. Barriers, advantages, and uses of marketing research are also discussed.

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    05 - Marketing Information and Research

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    jivetaaa
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    This document provides an overview of marketing research. It defines marketing research and outlines its objectives, nature, scope, approaches, types, and processes. Key points covered include exploring, describing, predicting and understanding customer behavior; defining problems and opportunities; developing research plans and instruments; collecting and analyzing data; and using findings to inform marketing decisions. Barriers, advantages, and uses of marketing research are also discussed.

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    This document provides an overview of marketing research. It defines marketing research and outlines its objectives, nature, scope, approaches, types, and processes. Key points covered include exploring, describing, predicting and understanding customer behavior; defining problems and opportunities; developing research plans and instruments; collecting and analyzing data; and using findings to inform marketing decisions. Barriers, advantages, and uses of marketing research are also discussed.

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    Download as ppt, pdf, or txt
    32 views21 pages

    05 - Marketing Information and Research

    Uploaded by

    jivetaaa
    This document provides an overview of marketing research. It defines marketing research and outlines its objectives, nature, scope, approaches, types, and processes. Key points covered include exploring, describing, predicting and understanding customer behavior; defining problems and opportunities; developing research plans and instruments; collecting and analyzing data; and using findings to inform marketing decisions. Barriers, advantages, and uses of marketing research are also discussed.

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    of 21

    LECTURE 05

    MARKETING
    INFORMATION &
    RESEARCH
    Jiveta Chaudhary – Facullty, DIAS
    Contents
     Concept
     Objectives
     Nature
     Scope
     Approaches
     Types

    Contd.
    Contents (Contd.)
     Ad-hoc and Continuous Research
     Marketing Research Process
     Characteristics of Marketing Research
     Barriers to the use of Marketing Research
     Advantages and Disadvantages of MR
     Uses of MR
    Concept
    Concept
     MARKETING RESEARCH
     Careful and objective study of product design, markets and transfer
    activities such as physical distribution and warehousing, advertising and
    sales management
     AMA: -
    Function which links the consumer, customer and public 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.
     Systematic and objective process of identifying and formulating the
    marketing problems, setting objectives and methods for collecting,
    editing, coding, tabulating, evaluating, analyzing, interpreting the data in
    order to find justified solutions to those problems.
    Objectives
    1. To know the demographics and psychographics of customers
    2. To find out the impact of promotional effort
    3. To know the customer response to a new product
    4. To forecast sales
    5. To anticipate competitive moves
    6. To probe ‘what went wrong’
    7. To identify market opportunities
    8. To understand marketing problems
    9. To forecast expected market share
    10. To aid formulation of effective market strategy
    Nature
    1. Form of applied research which makes the use of scientific enquiry to the
    turbulent market situations.
    It is not a pure academic research that is to take place in laboratory
    conditions. MR relates to field – the market, the Cr and the mktr
    2. Integral element of marketing management

    3. Related with other disciplines


    (Economics, Statistics, Anthropology, Psychology, Accounting, etc.)
    Scope
    1. Product and Services Research
    2. Sales Research
    3. Customer Research
    4. Research on sales and Distribution methods and policies
    5. Advertising Research
    1. Media R.

    2. Copy R.

    3. Corporate R.
    Scope (Contd.)
    6. Research on markets
    7. Research on miscellaneous activities: -
    1. Analyzing stakeholders’ opinions

    2. Determining location of new sales branches or stores

    3. Studying current legislations and their impact

    4. Studying competitive pricing, etc.


    Approaches
    1. By the marketing deptt. itself
    2. By the marketing research deptt.
    3. Fieldwork by an agency
    4. Full services of a marketing r. Agency is used.
    Types
    1. Exploratory Research
    2. Descriptive Research
    3. Causal Research
    4. Predictive Research
    Ad-hoc and Continuous Research
     Ad-Hoc Research
     Done when a specific problem arises, for which data needs to be
    collected once
     Focuses on a specific marketing problem and collects data at one
    point in time from one sample of respondents
     Types: -
     Custom Defined
     Based on specific needs of the client
     Questionnaire is designed specifically for finding a solution to the clients
    problem
     Omnibus Survey
     Space is bought on a questionnaire for face-to-face or telephone interviews.
     Space is bought be a number of clients who benefit from cost sharing
    Ad-hoc and Continuous Research
    (Contd.)
     Tracks changes amongst the same respondents over a
    period of time
     Respondents are enrolled in the research agency.
    Information is gathered from these respondents on a
    periodic basis. Thus, it is possible to track changes within
    the same set of audience over a period of time.
    Marketing Research Process
    1. Define the Problem, the Decision Alternative and the
    Research Objectives
    2. Appropriate Problem Definition
    1. What is to be researched (Content and Scope)

    2. Why is it to be researched (The decisions that are to be


    made)
    3. Develop Research Plan
    1. Decisions pertaining to: -
    1. Data Sources
    1. Primary
    2. Secondary
    Marketing Research Process (Contd.)

    3. Develop Research Plan (Contd.)


    1. Decisions pertaining to (Contd.): -
    2. Research Approaches
    1. Observations
    2. Focus Groups
    3. Survey
    4. Behavioral Data
    5. Experimentation
    6. Ethnographic Research
    3. Research Instruments
    1. Questionnaire
    2. Qualitative Measures
    3. Technological Devices
    Marketing Research Process (Contd.)

    3. Develop Research Plan (Contd.)


    1. Decisions pertaining to (Contd.): -
    4. Sampling Plan
    1. sampling Unit
    2. Sample Size
    3. Sampling Procedure
    5. Contact Methods
    1. Mail
    2. Telephone
    3. Online
    4. In person
    Marketing Research Process (Contd.)

    4. Collection of Information
    5. Analysis of Information
    6. Presentation of Findings
    7. Decision Making
    Characteristics of Good MR
    1. Scientific method : Careful Observation; Formulation of
    Hypothesis; Prediction and Testing
    2. Research Creativity : Innovative Ways
    3. Multiple Methods Models
    4. Interdependence
    5. Value and cost of information
    6. Healthy skepticism
    7. Ethical Marketing
    Barriers to the use of MR
    1. Narrow conception of Research
    2. Uneven caliber of Researchers
    3. Poor framing of the problem
    4. Late and occasionally findings
    5. Personality and Presentational Differences
    Advantages and Disadvantages of MR

    Advantages Disadvantages

     Forecasting  Huge Expenditure


     Assessing Product Acceptance  Bias in collecting data
     Rightful Promotion  Unpredictable Human Behavior
     Understanding new Markets  Requires Intelligent Handling
     Suitability of Channels  Supplementary, not substitute
     Overall business direction  Requires competent Researcher
     Assessment of Middlemen  No time gap allowed between
    research and its implementation
     Uncontrollable variables
    Uses of Marketing Research
    1. Consumers
    2. Market Intermediaries
    3. Business Firms
    4. marketing Research Agencies
    5. Government
    6. Producers

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