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Market Research - Nitty Gritty
 

Market Research - Nitty Gritty

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Basics of Market Research and Analytics

Basics of Market Research and Analytics

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    Market Research - Nitty Gritty Market Research - Nitty Gritty Presentation Transcript

    • Market Research
      Nitty-Gritty…
    • Objective
      What is MR?
      Definition
      Why MR?
      Different Categories
      When to use what?
      Qualitative Analysis
      Quantitative Analysis
    • Defining MR
      Market
      Research
      Researching about market from different perspectives to gain insights about particular dynamic/s is termed as MARKET RESEARCH.
      Insights can be:
      +
      =
      Market Research
    • Why MR??
      Market Research can be fruitful in 3 marketing areas, viz;
    • The Market Research Process
    • Classification of MR
    • Exploratory
      Exploratory Research
      Conducted because a problem has not been clearly defined.
      Helps in determining the best research design, data collection method and selection of subjects
      Area of implementation/usage
      The objective of exploratory research is to gather preliminary information that will help define problems and suggest hypotheses
    • Descriptive
      Descriptive
      Describes data and characteristics about the population or phenomenon being studied.
      Answers the questions who, what, where, when and how...
      Employs structured questionnaire and emphasis is on generating accurate picture of relationships between and among the variables.
      The objective of descriptive research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.
    • Causal
      Causal Research
      Explores the effect of one thing on another and more specifically, the effect of one variable on another.
      Helps not only in identifying potential problems but also in locating specific causes of the problems
      The objective of causal Research is to test hypotheses about cause-and-effect relationships
    • MR vs ANALYTICS
    • ANALYTICS
    • Qualitative Analysis – TECHNIQUES
    • Quantitative Techniques – TECHNIQUES
    • Thank You