• Save
Market research concise
Upcoming SlideShare
Loading in...5
×
 

Market research concise

on

  • 468 views

 

Statistics

Views

Total Views
468
Views on SlideShare
468
Embed Views
0

Actions

Likes
0
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • Expert server, focus group

Market research concise Market research concise Presentation Transcript

  • Marketing Reasearch
  • Definition of Marketing ResearchMarketing research is the systematic and objective  identification  collection  analysis  dissemination  and use of informationFor the purpose of improving decision making related to the  identification and  solution of problems and opportunities in marketing
  • Who Does Marketing Research? Applied versus Basic Research• Research: Systematic and objective investigation of a subject or problem to discover relevant information or principles.• Basic research: Provides information about a phenomenon or tests a theory or hypothesis (does not solve a specific problem).• Applied research: Problem-specific research that focuses on helping managers resolve specific problems.
  • Data Mining and Warehousing• Data warehouse is an I.T architecture aimed at storing and organising information in a meaningful manner.• Consists of a set of programmes that extract data from the operational environment like reports on sales call, branch and regional performance, product/brand customer complaints, service call etc.• The strategy of data warehousing involves providing data to the users in meaningful manner which can help them to take an operational and strategic decision. 5.11
  • MARKETING INTELLIGENCE SYSTEM• Marketing Research provides information at a specific time on customers, trade.competition and future trends in each of these segments.• Components of Intelligence systems-a) Customer Intelligence- Provides useful information on a customers business, preferences or loyalties, personal demographics details etc.a) Competitor Intelligence – Gives information on strengths/weaknesses of each territory, the strategy/tactics used by them and how the customer procures competitor brands. 5.8
  • Steps in Questionnaire Design Preliminary issues like research objectives, target response, etc. Decision on issues to be probed/askedDecision on response format, I.e whether close-ended or open-ended response Wording/style of the questions and what to avoid Sequencing the questions Conditions of questions Pre-test, revise(if need be) and finalise 5.3
  • Questionnaire Design• Close-ended v/s Open-ended Questions –• A close ended question is one where the respondent has to select a response from one among the multiple choices offered to him or her.• Such a questionnaire can be easily tabulated and analyzed. But can be used only when the researcher understands customer behavior well.• If the behavior is unknown and researcher wishes to probe,open ended questions will deliver results.• Measurement of Attitudes- Most research exercises measure attitudes of individuals. The attitude of a consumer towards a particular brand of a product or service is a function of –a) The number of consumers of that brand.b) At a specific time & in a given geographical area,who arec) Personally interviewed, using ad) Specified attitudinal scale,to obtaine) The response information provided by the attitude scale.Consumers attitude may be understood as numerical ratings on a like and dislikescale.
  • Scales employed in Measuring Attitude• Scales are of four types –a) Nominal Scale – This permits the most elementary mathematical analysis.Here numbers are used only for identification purposes.b) Ordinal Scale – These are ranking scales. Requires the customers ability to distinguish between the elements according to a single attribute and direction.c) Interval scales – These scales allow an individual to make meaningful statements about differences separating two objects. A typical example of interval example is the preference for a brand of perfume exhibited by a consumer on the scale a) I like it the most b) I like it c) I neither like it or dislike it d) I dislike it e) I dislike it the mostResponses measured on these scales can be analyzed using statistical tools likemean, standard deviation and correlation of co-efficient.
  • Scales employed in Measuring Attitude• Ratio Scales – It possesses a unique zero point and all arithmetical operations are possible here.• Now three types of scaling can be identified-a) Respondent Centered Approach- Researcher examines systematic variation across respondents.b) Stimulus Centered Approach – Focus is on studying the variations across different brands (stimulus) of detergents on the “gentleness on the hands” (attributes).c) Response Approach – Researcher examines both (a) and (b)• The Semantic Differential is a type of quantitative judgement that results in scales that are often further analyzed by such techniques as factor analysis.It enables the researcher to probe both the direction & the intensity of respondents attitudes towards such concepts as corporate image, advertising image & brand image.
  • Avoid ambiguity Problem Definition Be specific but not too rigid Research Objective Measurable Watch for symptoms Specific Research Design Exploratory Descriptive census Causative Secondary Source of Data Sample Primary ObservationData Collection Techniques Experimentation Tools Survey Data Analysis Focus Group (Primary, seco ndary and Questionnaire advanced) Interview schedule Report and Association and presentation Projection test (TAT) 5.2
  • The Marketing Research Process Step 1: Defining the Problem Step 2: Developing an Approach to the Problem Step 3: Formulating a Research Design Step 4: Doing Field Work or Collecting DataStep 5: Preparing and Analyzing DataStep 6: Preparing and Presenting the Report
  • Problem TheoreticalObservation identification frameworkData Research OperationalCollection Hypothesis Design decisions Analysis of data Interpretation Implementation of Data
  • A Classification of Marketing Research DesignsFig. 3.1 Research DesignExploratory Conclusive ResearchResearch Design Design Descriptive Research Causal Research Cross-Sectional Longitudinal Design Design Single Cross- Multiple Cross- Sectional Design Sectional Design
  • Exploratory & Conclusive Research DifferencesTable 3.1 Exploratory ConclusiveObjective: To provide insights and understanding To test specific hypotheses and examine of the problem & suggest possible relationships solutions/new ideasCharacter- Information needed is clearly defined.istics: Information needed is defined only Research process is formal and loosely. Research process is flexible structured. Sample is large and and unstructured. Sample is small and representative. Data analysis is non-representative. Analysis of quantitative primary data is qualitativeFindings/ Tentative ConclusiveResults:Outcome: Generally followed by further Findings used as input into decision exploratory or conclusive research making
  • A Comparison of Basic Research DesignsTable 3.2 Exploratory Descriptive Causal Objective: Discovery of ideas and Describe market Determine cause insights characteristics or and effect functions relationships Characteristics: Flexible, versatile Marked by the prior Manipulation of formulation of specific independent hypotheses variables, effect on dependent Often the front end of Preplanned and variables total research design structured design Control mediating Expert surveys variables Pilot surveys Secondary data: Methods: Case studies quantitative analysis Experiments Secondary data: Surveys qualitative analysis Panels qualitative research Observation and other data
  • Strengths and Weaknesses of Basic Sampling TechniquesTable 11.4 Technique Strengths Weaknesses Nonprobability Sampling Least expensive, least Selection bias, sample not Convenience sampling time-consuming, most representative, not recommended for convenient descriptive or causal research Judgmental sampling Low cost, convenient, Does not allow generalization, not time-consuming subjective Quota sampling Sample can be controlled Selection bias, no assurance of for certain characteristics representativeness Snowball sampling Can estimate rare Time-consuming characteristics Probability sampling Easily understood, Difficult to construct sampling Simple random sampling results projectable frame, expensive, lower precision, (SRS) no assurance of representativeness Systematic sampling Can increase Can decrease representativeness representativeness, easier to implement than SRS, sampling frame not necessary Stratified sampling Include all important Difficult to select relevant subpopulations, stratification variables, not feasible to precision stratify on many variables, expensive Cluster sampling Easy to implement, cost Imprecise, difficult to compute and effective interpret results
  • A Classification of Marketing Research Data Fig. 5.1 Marketing Research Data Secondary Data Primary Data Qualitative Data Quantitative Data Descriptive CausalSurvey Observational Experimental Data and Other Data Data
  • Qualitative Vs. Quantitative ResearchTable 5.1 Qualitative Research Quantitative ResearchObjective To gain a qualitative To quantify the data and generalize understanding of the underlying the results from the sample to the reasons and motivations population of interest Small number of non- Large number of representativeSample representative cases cases Unstructured StructuredData Collection Non-statistical StatisticalData Analysis Develop an initial understanding Recommend a final course of actionOutcome
  • A Classification of Qualitative Research Procedures Qualitative Research Procedures Direct (Non- Indirect disguised) (Disguised) Projective Techniques Focus Groups Depth Interviews Association Completion Construction Expressive Techniques Techniques Techniques Techniques