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Transcript

  • 1. Lecture 3 Farha Hassan
  • 2.
    • Definition
    • Application of the scientific method in searching for the truth about marketing phenomena.
  • 3.
    • Marketing Intelligence
    • Marketing Research
    • Ongoing process
    • Usually done in-house
    • Not meant for immediate action
    • General purpose
    • Focus on competition and environment
    • Project based on information gap
    • Mostly outsourced to MR companies
    • Action oriented
    • Very specific answers to questions
    • Focus on consumers, influencers, etc
  • 4.
    • BASIC M.R
    • APPLIED M.R
    • Conducted without a specific decision in mind.
    • Does not address the needs of a specific organization.
    • Does not aim at solving a particular problem.
    • Conducted with a specific decision in mind.
    • Address the need of a particular organization.
    • Aims at solving a particular problem.
  • 5.
    • What do we sell?
      • Tangible/Intangible benefits
    • How do consumers view our company?
      • Favourably/ Unfavourably/ Neutral
    • What does our company/product mean?
      • What does the packaging and promotion mean to customers?
    • What do consumers desire?
      • How can company make life of consumers better?
      • How can it do it in a way that cannot be easily duplicated?
  • 6.
    • Johnson & Johnson Band Aid
    • Allen Solly- Women’s Western Wear
    • Johnson’s Baby Lotion
  • 7. Pricing research Product research Distribution research Promotion research Concept research
  • 8. Pricing research Product research Distribution research Promotion research Concept research
  • 9.
    • During a product launch, there would be several stages, the first stage is the concept development and testing.
    • The idea may come from many sources.
    • Whatever may be the source, it is generally researched further through concept testing before it goes into other stages.
    • Eg
    • Fabric softner.
  • 10. Pricing research Product research Distribution research Promotion research Concept research
  • 11.
    • Includes studies designed to evaluate and develop new products and to learn how to adapt existing product lines.
    • Concept testing exposes potential customers to a new product idea to judge the acceptance.
    • Product testing reveals the product prototype’s strengths and weakness.
    • Brand name evaluation studies investigate whether a name is appropriate for a product.
  • 12.
    • Package testing assesses size, color, shape, ease of use and other attributes of a package.
    • Eg: Cheetos, first brand of American snack food to be made and marketed in China was tested in China with 600 flavours and finally only 2 flavours were launched.
  • 13. Pricing research Product research Distribution research Promotion research Concept research
  • 14.
    • Pricing involves the amount of monetary sacrifice that best represents the value customers perceive in a product.
    • Most organizations conduct pricing research.
    • Pricing research investigates the way people respond to pricing tactics.
    • How do customers respond to price reductions?
    • How much are they willing to pay for some critical product attribute?
    • Do price gaps among National, Regional and Private label brands exist?
  • 15.
    • Do you think the price of “Brand A” of TV is appropriate?
    • Wrong way to ask question.
    • It may require experience of several price related studies before one begins to appreciate the nuance of consumer behavior related to price.
  • 16. Pricing research Product research Distribution research Promotion research Concept research
  • 17.
    • Distribution research is typified by studies aimed at selecting retail sites or warehouse locations.
    • A survey of retailers or wholesalers may be conducted as the actions of one channel member can greatly affect the performance of other channel members.
    • This study gives knowledge about retailers’ and wholesalers’ operations.
  • 18.
    • Research focused on developing and improving the efficiency of marketing channels is extremely important.
    • E.g. 1
    • TV technology has advanced greatly. As a result more and more customers are having home theatres, satellite TV, etc. how will this affect the traditional channels of distribution of motion pictures ???
  • 19.
    • E.g. 2
    • Prescription drugs can be purchased via internet. For the consumer, this marketing channel bypasses the traditional doctors and pharmacists’ visit. Now, for a pharmaceutical firm,
      • Is it wise to take advantage of this channel? By removing the family doctor,
      • Does the drug seem to be less effective?
      • If so, is the brand reputation harmed?
  • 20. Pricing research Product research Distribution research Promotion research Concept research
  • 21.
    • It investigates the effectiveness of advertising, premiums, coupons, sampling, discounts, public relations and other sales promotions.
    • However, most time is spent on “Advertising research”
  • 22.
    • Two major categories in advertising research are:
      • Copy testing
      • Media research
  • 23.
    • It includes research into all aspects of advertising- brand awareness, brand recall, copy recall, recall of slogan or jingle, celebrity endorsement, etc
    • A ‘Copy’ is a name given to text used in an advertisement.
  • 24.
    • The major activity under this category is research into viewership of specific television programmes on various TV channels
    • Specialised agencies like A C Nielsen offer viewership data worldwide.
    • In India, ORG-MARG and IMRB offer this service.
    • They offer peoplemeter data with brand names of TAM and INTAM.
  • 25.
    • Though very useful most of the time, it is not the only input for decision making.
    • Many small businesses run without doing marketing research and very successful too.
    • Many managers base their work on judgement, intuition and perceptions rather than numerical data.
    • Eg: Hot Shot Camera
    • Time taken should be minimum in dynamic world.
  • 26.
    • Any information collected from a respondent should not be misused for any other purpose.
    • Forcing respondents to answer the questions is not professionalism.
    • Confidentiality of replies should be protected.
    • If questions are embarrassing, they can have an option to avoid it.