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Mr1 pt10

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  • 1. Introduction to Marketing Research Lecture 1 Hamendra Dangi [email_address] ms.edu 9968316938 H Dangi, FMS
  • 2. Session Break Up
    • Out line of Sessions
    • Internal Assessment
    • Text Book
    • Introduction to Marketing Research
    • EVPI
    H Dangi, FMS
  • 3. Session – Break Up
    • Imparting Instruction with Software Example
    • ( SPSS , Mini Tab , E-view )- 1 Hour 30 minutes
    • Case discussion /Class activity : 30 Minutes
    • Case Study ( One Group in Each lecture )
    • ( 20 Minutes )
    H Dangi, FMS
  • 4. INTERNAL ASSESMNET
    • Synopsis submission : After Two weeks ( 2 marks)
    • Written Test (A) - 8 th September 2010 ( 10 Marks)
    • Mid Term review of project : One week after minor test (5 Marks )
    • Final submission and Viva Voce on Projects –2 Weeks before final exam ( 8 marks)
    • Case Presentation/ class activity - 3 Marks
    • Participation in Class – 2 Marks
    H Dangi, FMS
  • 5. Text Book
    • Business Research – Donald Cooper
    • Research Method : C.R Kothari
    • Marketing Research – Naresh Malhotra
    H Dangi, FMS
  • 6. Software
    • Statistical Package for Social Science
    • Mini Tab
    • E – View
    • R
    H Dangi, FMS
  • 7. Definition of Marketing Research
    • Marketing research is the systematic and objective
        • identification
        • collection
        • analysis
        • dissemination
        • and use of information
    • For the purpose of improving decision making related to the
        • identification and
        • solution of problems and opportunities in the area of marketing
    H Dangi, FMS
  • 8. Management Decision Problem Vs. Business Research Problem
    • Management Decision Problem Business Research Problem
    •  
    • Should a new product be To determine consumer preferences
    • introduced? and purchase intentions for the
    • proposed new product.
    •  
    • Should the advertising To determine the effectiveness
    • campaign be changed? of the current advertising
    • campaign.
    •  
    • Should the price of the To determine the price elasticity
    • brand be increased? of demand and the impact on sales
    • and profits of various levels of price changes.
    H Dangi, FMS
  • 9. Question for Discussion
    • Discuss the management decision problem for which following research problem might be useful
    • Determine the number of tenants and their annual income in a particular region
    • Evaluate the effectiveness of commercial in a Mall
    H Dangi, FMS
  • 10. Classification of Marketing Research
    • Problem-Identification Research
    • Research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research.
    • Problem-Solving Research
    • Research undertaken to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.
    H Dangi, FMS
  • 11. Distinction between Risk and Uncertainty
    • Risk: A decision making condition under which a manager can list all outcome and assign probabilities to each outcome
    • Uncertainty : A decision- making condition under which a manager cannot list all possible outcome and/ or cannot assign probabilities to the various outcome
    H Dangi, FMS
  • 12. Important Term
    • Decision Alternative : There is finite number of decision alternative available with the decision maker at each point when decision is made
    • State of Nature : A possible future condition resulting from choice of a decision alternative depends upon certain factors beyond the control of decision maker
    H Dangi, FMS
  • 13.
    • Pay off : A numerical value resulting from each possible combination of alternative and state of nature is called Pay off
    H Dangi, FMS
  • 14. Conditional Pay off table
    • A retailer buys an article at Rs.2 per case and sells the same at Rs.5 . He incurs a loss of Rs 2 for every item which is not sold.Previous experience shows that demand varies from 13 to 15 cases a day . Construct Conditional Payoff table
    • I
    H Dangi, FMS I
  • 15. Conditional Pay off Table H Dangi, FMS I hear, I forget I see, I remember I do I understand State of Nature/ Strategy 13 14 15 13 39 37 35 14 39 42 40 15 39 42 45
  • 16. Example
    • A physician purchase a particular medicine n Monday of each week . The medicine must be used within the week following otherwise it will become worthless . The medicine costs Rs 2 per order and physician charges Rs 4 per dose . The past 50 week records are as follow:
    • Dose per Week 20 25 40 60
    • No of weeks 5 15 25 5
    • Find : I) EMV ii) EOL iii) EVPI
    H Dangi, FMS I hear, I forget I see, I remember I do I understand
  • 17. Pay off table H Dangi, FMS Prob. 20 25 40 60 20 0.10 40 30 0 -40 25 0.30 40 50 20 -20 40 0.50 40 50 80 40 60 0.10 40 50 80 120
  • 18. EVPI
    • EPPI=40x.10+50x.30+80x.50+120x.10
    • = 71
    • EVPI = 71-54
    • =17
    H Dangi, FMS I hear, I forget I see, I remember I do I understand
  • 19. EOL H Dangi, FMS I hear, I forget I see, I remember I do I understand Events / Demand Prob 20 25 40 60 20 0.10 0 10 40 80 25 0.30 10 0 30 70 40 0.50 40 30 0 40 60 0.10 80 70 40 0 EOL 31 23 17 49
  • 20. Question for Discussion
    • Relevance of EVPI?
    H Dangi, FMS
  • 21. Decision Tree Analysis
    • A Decision tree is nothing but a graphic exercise of showing the sequence of decision to be made and the possible events that may occur
    H Dangi, FMS
  • 22. Example
    • A company has leased an oil mine . It may sell it for Rs 25000or drill it for oil . The various possible drilling results are given as under along with probability dist.
    H Dangi, FMS
  • 23.
    • A company has leased an oil mine . It may sell it for Rs 25000or drill it for oil . The various possible drilling results are given as under along with probability dist.
    H Dangi, FMS Possible results Probability Rs consequences Dry well 0.10 - 1,00,000 Gas well only 0.40 45000 Oil& Gas 0.30 98000 Oil well only 0.20 1,99,000
  • 24. Question for Discussion
    • A business man has two investments A and B available to him: but he lacks the capital to undertake both of them simultaneously. He can choose to take A first and then stop, or if A is successful then take B, or vice versa. The probability of success of A is 0.7 while for B is 0.4 .Both require an initial outlay of Rs 2000 and both return nothing if it fails. Successful completion of A will return Rs 3000 while B will return Rs 5000 .Draw the decision tree and determine the best strategy.
    H Dangi, FMS

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