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  • 1. H Dangi, FMS
    1
    Introduction to Marketing Research Lecture 1
    Hamendra Dangi
    hkdangi@fms.edu
    9968316938
  • 2. H Dangi, FMS
    2
    Session Break Up
    Out line of Sessions
    Internal Assessment
    Text Book
    Introduction to Marketing Research
    EVPI
  • 3. 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 )
  • 4. H Dangi, FMS
    4
    INTERNAL ASSESMNET
    Synopsis submission : After Two weeks ( 2 marks)
    Written Test (A) - 8th 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
  • 5. H Dangi, FMS
    5
    Text Book
    Business Research – Donald Cooper
    Research Method : C.R Kothari
    Marketing Research – Naresh Malhotra
  • 6. H Dangi, FMS
    6
    Software
    Statistical Package for Social Science
    Mini Tab
    E – View
    R
  • 7. H Dangi, FMS
    7
    Definition of Marketing Research
    Marketing research is the systematic and objective
    For the purpose of improving decision making related to the
    • identification and
    • 12. 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.
  • 13. 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
  • 14. 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.
  • 15. 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
  • 16. 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
  • 17. H Dangi, FMS
    13
    Pay off : A numerical value resulting from each possible combination of alternative and state of nature is called Pay off
  • 18. 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
    I
  • 19. H Dangi, FMS
    15
    Conditional Pay off Table
    I hear, I forget I see, I remember I do I understand
  • 20. H Dangi, FMS
    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
    I hear, I forget I see, I remember I do I understand
  • 21. H Dangi, FMS
    17
    Pay off table
  • 22. H Dangi, FMS
    18
    EVPI
    EPPI=40x.10+50x.30+80x.50+120x.10
    = 71
    EVPI = 71-54
    =17
    I hear, I forget I see, I remember I do I understand
  • 23. H Dangi, FMS
    19
    EOL
    I hear, I forget I see, I remember I do I understand
  • 24. H Dangi, FMS
    20
    Question for Discussion
    Relevance of EVPI?
  • 25. 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
  • 26. 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.
  • 27. 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.
  • 28. H Dangi, FMS
    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.