Marketing research process

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Marketing research process with CASE STUDY

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  • Eg: A hypothesis could speculate that sales are down in the Northeast because the level of competition has been abnormally high during the past two months. Such a hypothesis provides considerable detail to a research question that asks what the problem is in Northeast.
  • 2 min
  • The most common research instrument is the questionnaire Close-end questions - Respondents choose from possible answers included on the questionnaire. Types of close-end questions include: Multiple choice questions which offer respondents the ability to answer “yes” or “no” or choose from a list of several answer choices. Scales refer to questions that ask respondents to rank their answers or measure their answer at a particular point on a scale. For example, a respondent may have the choice to rank their feelings towards a particular statement. The scale may range from “Strongly Disagree”, “Disagree” and “Indifferent” to “Agree” and “Strongly Agree.” Open-end questions - Respondents answer questions in their own words. Completely unstructured questions allow respondents to answer any way they choose
  • Data analysis involves entering data into computer files, inspecting data for errors, and running tabulations and various statistical tests. Data cleaning is a process by which raw data are checked to verify that the data have been correctly inputted from the data collection form to the computer software program. The last step is one of the most important phases of marketing research. Its importance cannot be overstated because it is the report, or its presentation, that properly communicates the results to the client.
  • Marketing research process

    1. 1. Marketing Research Process
    2. 2. GROUP MEMBERS <ul><li>V.Karthik </li></ul><ul><li>Dishant Aggarwal </li></ul><ul><li>Himanshu Ahuja </li></ul><ul><li>Madhav Gulati </li></ul><ul><li>Paritosh Rai </li></ul><ul><li>Kshitij Khanna </li></ul><ul><li>Vivek Shrivastava </li></ul><ul><li>Avi Kapoor </li></ul><ul><li>Pushpa Yadav </li></ul><ul><li>Priyanka Mittal </li></ul>AMITY BUSINESS SCHOOL
    3. 3. MARKETING RESEARCH PROCESS
    4. 4. Establish the need for marketing research <ul><li>When Marketing Research is not needed </li></ul><ul><ul><li>The information is already available </li></ul></ul><ul><ul><li>Decisions need to be made now </li></ul></ul><ul><ul><li>You can’t afford research </li></ul></ul><ul><ul><li>Costs outweigh the value of the research </li></ul></ul>1)
    5. 5. Define the Problem <ul><li>The most important step in the marketing research process is defining the problem. </li></ul><ul><li>Determining & clarifying the management’s information needs </li></ul>2)
    6. 6. Egs: <ul><li>Launching a new product or service. </li></ul><ul><li>Low awareness of your company and its products or services. </li></ul><ul><li>Low utilization of your company’s products or services. </li></ul><ul><li>(The market is familiar with your company, but still is not doing business with you.) </li></ul><ul><li>A poor company image and reputation. </li></ul><ul><li>Problems with distribution, your goods and services are not reaching the buying public in a timely manner. </li></ul>
    7. 7. <ul><li>Before evaluating a market share or sales objective </li></ul><ul><li>for a particular brand what information you would </li></ul><ul><li>like to have? </li></ul><ul><li>Such data as </li></ul><ul><li>No. of customer, </li></ul><ul><li>Percentage of customers, </li></ul><ul><li>Average purchase amount by customers, </li></ul><ul><li>Percentage of customers who are “heavy users”, </li></ul><ul><li>Consumer purchase criteria, </li></ul><ul><li>The nature of marriage segments, </li></ul><ul><li>The number of competitors, </li></ul><ul><li>Marketing expenditure per competitor, </li></ul><ul><li>Relative product/service quality, and so forth would be useful. </li></ul><ul><li>Marketing research provide these types of data. </li></ul>
    8. 8. Establish Research Objectives <ul><li>The research objective is a statement, of what </li></ul><ul><li>information you want??? </li></ul><ul><li>Research objective has 3 components : </li></ul><ul><li>Research Question </li></ul><ul><li>Development of Hypotheses </li></ul><ul><li>Scope </li></ul>3)
    9. 9. (a) Research Question: <ul><li>It specifies the information the decision maker </li></ul><ul><li>needs. </li></ul><ul><li>Eg: If the purpose is to determine if a specific </li></ul><ul><li>advertisement should be run, the following research </li></ul><ul><li>questions could be posed: </li></ul><ul><li>· Will the advertisement be noticed?? </li></ul><ul><li>· Will it be interpreted accurately?? </li></ul><ul><li>· Will it influence attitudes?? </li></ul>
    10. 10. (b) Development of Hypotheses <ul><li>They are basically possible answers to the research </li></ul><ul><li>question. </li></ul><ul><li>The Research determines which of these alternative answers </li></ul><ul><li>is correct </li></ul><ul><li>They are tentative statement about relationship b/w 2 or more </li></ul><ul><li>variables specified by the research question. </li></ul><ul><li>The most important role of a hypothesis??? </li></ul><ul><li>Is to suggest variables to be included in the Research Design </li></ul>
    11. 11. Example: Research Question, Research Objectives, and Research Hypotheses Research Question : What should be the retail price for product X? What type of cosmetics do men use to look handsome? Why Amity’s cafeteria is criticized so badly? Research Objectives : Forecast sales for product X at three different prices. To determine the competition & mkt share Determine factors affecting the earnings of cafeteria at Amity Hypotheses : Sales will be higher at Rs 4.99 than at Rs 5 or at Rs 7 H1: Fair & Lovely Menz Active by HUL H2: Fair And Handsome by Emami Ltd H1: Long queues . Highly unorganized H2: Food tastes bad & unheathy
    12. 12. (c) Scope: <ul><li>They are boundaries of research. </li></ul><ul><li>For example: </li></ul><ul><li>Is the interest in current customers only or in all </li></ul><ul><li>potential customers???? </li></ul>
    13. 13. Determine Research Design <ul><li>Exploratory Research: collecting information in an unstructured and informal manner </li></ul><ul><li>Descriptive Research: refers to a set of methods and procedures describing marketing variables </li></ul><ul><li>Causal Research (experiments and other approaches): allows isolation of causes and effects via use of experiment or surveys. </li></ul>4)
    14. 14. Contd… The degree of uncertainty of the research problem determines the research methodology
    15. 15. Identify Information Types and Sources <ul><li>Secondary Data: information that has been collected for some other purpose other than the research at hand </li></ul><ul><li>Primary Data: information that has been gathered specifically for the research objectives at hand </li></ul>5)
    16. 16. Determine Methods of Accessing Data <ul><li>Secondary Data: accessing data through sources such as the Internet and library </li></ul><ul><li>Primary Data: collecting data through methods such as telephone, mail, online, and face-to-face (quantitative) and observation studies and focus groups (qualitative) </li></ul><ul><li>Both are excellent! Use both in your projects! </li></ul>6)
    17. 17. <ul><li>Designing Data Collection Forms </li></ul><ul><li>Questionnaires </li></ul><ul><li>Observation Studies </li></ul><ul><li>Designing Sample Plan and Size </li></ul><ul><li>Sample plan refers to the process used to </li></ul><ul><li>select units from the population to be included </li></ul><ul><li>in the sample. </li></ul><ul><li>Sample size refers to determining how many </li></ul><ul><li>elements of the population should be included in the sample. </li></ul>8) 7)
    18. 18. Collecting Data <ul><li>Data collection is very important because, regardless of the data analysis methods used, data analysis cannot “fix” bad data. </li></ul><ul><li>Types of Errors – </li></ul><ul><li>Sampling Errors </li></ul><ul><li>Nonsampling Errors </li></ul>9)
    19. 19. <ul><li>Analyze Data </li></ul><ul><li>Data analysis </li></ul><ul><li>Data cleaning </li></ul><ul><li>Prepare and Present the Final Research Report </li></ul>10) 11)
    20. 20. A CASE ANALYSIS
    21. 21. <ul><li>Traditionally men have used alum as an after shave. </li></ul><ul><li>With development in the standard of living more people are using after shave lotions. </li></ul><ul><li>Initially imported and expensive brands like English Leather, Williams, Givenchy and Yardley were used by upper segment. </li></ul><ul><li>Need for cheaper and indigeneous brands was felt. </li></ul>
    22. 22. Contd…. <ul><li>Old Spice and Monarch were launched during 70s. </li></ul><ul><li>Old Spice captured a major market share. </li></ul><ul><li>In 80s some new brands like – Savage, Park Avenue and Old Spice Musk were launched. </li></ul><ul><li>ASL market is thus getting more competitive. </li></ul>
    23. 23. <ul><li>To analyse Indian ASL market following issues </li></ul><ul><li>have to be studied </li></ul><ul><li>Market Share of various brands. </li></ul><ul><li>Perception of consumers about Indian vis-à-vis foreign brands. </li></ul><ul><li>Characteristics sought after in an ASL, reasons for retaining or changing the brand. </li></ul><ul><li>Purchasing Behavior of consumers. </li></ul><ul><li>Effect of Advertisements. </li></ul>MARKETING ISSUES
    24. 24. <ul><li>The objectives of this research are : </li></ul><ul><li>To find out consumer awareness about various ASL brands in market. </li></ul><ul><li>To study the buying behavior of consumers, reasons for preferring a particular brand. </li></ul><ul><li>To study the perception of consumers about Indian vis-à-vis foreign brands. </li></ul>RESEARCH OBJECTIVES
    25. 25. RESEARCH DESIGN <ul><li>The type of research methodology used :- </li></ul><ul><li>EXPLORATORY RESEARCH </li></ul><ul><li>Methods of Exploratory Research are :- </li></ul><ul><li>Expert surveys </li></ul><ul><li>Pilot surveys </li></ul><ul><li>Secondary data (analyzed qualitatively) </li></ul>
    26. 26. (a) Sources Of Data <ul><li>As data about the AFTER SHAVE LOTION </li></ul><ul><li>(ASL) market is nonexistent almost, so all the </li></ul><ul><li>information is collected from the primary source. </li></ul><ul><li>The QUESTIONNAIRE method is used to obtain </li></ul><ul><li>the necessary information. </li></ul><ul><li>The questions were asked from the industry </li></ul><ul><li>experts, conducted surveys by the researcher in </li></ul><ul><li>form of taking interviews . </li></ul>
    27. 27. (b) Sampling Plan <ul><li>TARGET POPULATION:- It consists of men from upper and middle income groups residing in Calcutta of age between 20-50 years. </li></ul><ul><li>SAMPLING UNIT:- Household </li></ul><ul><li>SAMPLE SIZE:- 150 </li></ul><ul><li>SAMPLING METHOD:- Purposive Sampling </li></ul>
    28. 28. QUESTIONNAIRE <ul><li>Dear Respondent, </li></ul><ul><li>We are conducting a survey of the after shave lotion market. We would be grateful if you could fill-up the following questionnaire in this regard. </li></ul><ul><li>Do you use an after shave lotion? </li></ul><ul><li>()Yes ()No </li></ul><ul><li>Please name a few after shave lotions you have heard of. </li></ul><ul><li>(a) …….. (b)…….. (c)……… </li></ul>
    29. 29. Contd… <ul><li>3 . Which of the following brands have you heard of?TICK </li></ul><ul><li>(a) Park Avenue (b) Old Spice </li></ul><ul><li>(c) Savage (d) Brut </li></ul><ul><li>(e) Williams (j) Yardley </li></ul><ul><li>4.(a) Which after shave lotion are you using at present?...... </li></ul><ul><li>(b) If you are to select an after shave brand now which brand will you chose?...... </li></ul><ul><li>5. Can you recall the name of the previous brand of after shave lotion you used? Please mention…… </li></ul>
    30. 30. Contd... <ul><li>6. Can you give reasons consistency/change in your shave lotion? </li></ul><ul><li>Consistency Change </li></ul><ul><li>(a) Habitual (a) Like to try other brands </li></ul><ul><li>(b) Value for money (b) For a change. </li></ul><ul><li>(c) Don’t like others (c) All brands are same. </li></ul><ul><li>(d) Any other please specify (d) Any other please specify </li></ul><ul><li>7.Why do you use an after shave lotion? TICK </li></ul><ul><li>(a) For its antiseptic properties </li></ul><ul><li>(b) As a perfume </li></ul><ul><li>(c) To feel fresh </li></ul><ul><li>(d) Girlfriend loves it </li></ul><ul><li>(e) To get the sting </li></ul><ul><li>(f) Any other reason, please mention . </li></ul>
    31. 31. Contd…. <ul><li>8. When do you use an after shave lotion? </li></ul><ul><li>(a) Immediately after shaving </li></ul><ul><li>(b) After a bath </li></ul><ul><li>(c) Anytime of the day </li></ul><ul><li>(d) Before going to a party. </li></ul><ul><li>9. Given an easy availability of Indian and foreign brands of after shave lotion which brand do you prefer? </li></ul><ul><li>() Indian ()Imported </li></ul><ul><li>Why ? TICK </li></ul><ul><li>(a) Perfume is better </li></ul><ul><li>(b) Quality is better </li></ul><ul><li>(c) Brand Image </li></ul><ul><li>(d) Price id lower </li></ul><ul><li>(e) Status </li></ul><ul><li>(f) Easy availability </li></ul><ul><li>(g) Any other, please specify </li></ul>
    32. 32. Contd…. <ul><li>10. Who buys the after shave lotion for you? </li></ul><ul><li>(a) Self </li></ul><ul><li>(b) Family members </li></ul><ul><li>(c) Normally get it as a gift </li></ul><ul><li>(d) …… </li></ul><ul><li>11. Here we have mentioned a set of factors that you may consider while buying an after shave lotion? Give your response on a seven point scale ranging from(1) most important to (7) least important for each of them. </li></ul><ul><li>(a) Price (b) Brand name </li></ul><ul><li>(c) Perfume (d) Antiseptic property (e) Type of bottle </li></ul>
    33. 33. Contd…. <ul><li>12. Personal information: </li></ul><ul><li>Age: ( )less than 18 years ( ) 18-25years </li></ul><ul><li>( ) 25-35 years ( ) above 35years </li></ul><ul><li>Family Income: </li></ul><ul><li>( ) less than rs. 36000pa </li></ul><ul><li>( ) rs 36000to rs. 72000pa </li></ul><ul><li>( ) above rs. 72000 pa </li></ul><ul><li>Profession </li></ul><ul><li>Govt. service /Private service/Student/Business/ Any other…. </li></ul><ul><li>Thanks a lot </li></ul>
    34. 34. DATA ANALYSIS & FINDINGS <ul><li>49 out of 150 did not use any after shave </li></ul><ul><li>Awareness:- out of 101 respondents, </li></ul>(a) Top of Mind (b) Second Level:- On second recall, brands on respondents mind were 8% Monarch, Savage, Musk 12% Park Avenue, English Leather 16% Brut 28% Old Spice 6% Denim and Brut 10% Patrichs and Avon 16% English leather, Givenchy, Yardley
    35. 35. TOP OF MIND 28% 8% 8% 8% 8% 8% 16% 12%
    36. 36. SECOND LEVEL 16% 10% 10% 20% 16% 16% 6% 6%
    37. 37. (c) Present, Previous and Future Brands <ul><li>Present:- 33% of respondents confirmed the use of Old spice as their present after shave making it the leader. </li></ul><ul><li>Past:- 44% had used Old Spice on previous occasion, followed by Brut which had been used by 20%. Monarch, jovan and English leather being the other brands used. </li></ul><ul><li>Future:- Old spice and Park Avenue appeared to be the most popular choice. </li></ul>
    38. 38. Present, Previous and Future Brands
    39. 39. (d) REASONS FOR CHANGE OF BRAND
    40. 40. (e) REASONS FOR BRAND CONSISTENCY
    41. 41. (f) WHY USE AFTER SHAVE?
    42. 42. (g) WHEN USE ASL?
    43. 43. (h) PREFER INDIAN/IMPORTED
    44. 44. CONCLUSION <ul><li>Old spice turned to be most popular brand. </li></ul><ul><li>Park Avenue carved niche in the upper segment of market. </li></ul><ul><li>Imported brands still considered to be of superior quality than Indian. </li></ul>
    45. 45. What should manufacturers do? <ul><li>Introduce better quality products. </li></ul><ul><li>Use advertisement to improve product’s image. </li></ul><ul><li>Launch brand with attractive packing as a gift. </li></ul><ul><li>Introduce attractive features and offers in the product. </li></ul>
    46. 46. THANK YOU

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