Introduction to mr


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Introduction to Marketing Research

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Introduction to mr

  1. 1. Introduction to Marketing Research By Rama Krishna Kompella
  2. 2. Course Details <ul><li>Course: Marketing Research </li></ul><ul><li>Instructor: Rama Krishna Kompella </li></ul><ul><li>Class Timings: Tue / Thu 1:00 – 2:00 </li></ul><ul><li>You can reach me at [email_address] </li></ul><ul><li>Office Hours: On appointment on Tue / Thu </li></ul><ul><li>Course Materials: Required texts and selected readings will be announced before the class </li></ul>
  3. 3. Course Structure <ul><li>Exam 1 </li></ul><ul><li>Exam 2 </li></ul><ul><li>Research Project & Presentation (Team Work) Short Case Study (Team Work) </li></ul><ul><li>Homework </li></ul>
  4. 4. Learning Objectives <ul><li>Know the importance of Marketing Research </li></ul><ul><li>Understand steps involved in Marketing Research process </li></ul><ul><li>Usage of various research techniques for collecting and analyzing data </li></ul>
  5. 5. Learning Objectives <ul><li>Devise a research question and </li></ul><ul><li>Identify suitable research techniques </li></ul><ul><li>Prepare a research report </li></ul><ul><li>Improve the ability to work in teams </li></ul>
  6. 6. Marketing Research <ul><li>Marketing research is the systematic and objective </li></ul><ul><li>identification </li></ul><ul><li>collection </li></ul><ul><li>analysis </li></ul><ul><li>dissemination and </li></ul><ul><li>use of information </li></ul><ul><li>for the purpose of improving decision making related to the </li></ul><ul><li>identification and </li></ul><ul><li>solution of problems and opportunities in marketing </li></ul>
  7. 7. Remember!!! <ul><li>Marketing Research is a tool </li></ul><ul><li>It assists marketing managers in their decision making </li></ul><ul><li>IT IS NOT A REPLACEMENT FOR MANAGERIAL JUDGEMENT!! </li></ul>
  8. 8. Classification of Marketing Research Marketing Research Market Potential Research Market Share Research Market Characteristics Research Sales Analysis Research Forecasting Research Business Trends Research Segmentation Research Product Research Promotion Research Distribution Research Problem Identification Research Problem Solving Research
  9. 9. Classification of Marketing Research <ul><li>Problem Identification Research </li></ul><ul><li>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 </li></ul><ul><li>Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research </li></ul>
  10. 10. Classification of Marketing Research <ul><li>Problem Solving Research </li></ul><ul><li>Research undertaken to help solve specific marketing problems </li></ul><ul><li>Examples: segmentation, product, pricing, promotion, and distribution research </li></ul>
  11. 11. The Marketing Research Process <ul><li>Define the Problem </li></ul><ul><li>Develop an Approach to the Problem </li></ul><ul><ul><li>Type of Study? Exploratory, Descriptive, Causal? </li></ul></ul><ul><ul><li>Mgmt & Research Questions, Hypotheses </li></ul></ul><ul><li>Formulate a Research Design </li></ul><ul><ul><li>Methodology </li></ul></ul><ul><ul><li>Questionnaire Design </li></ul></ul><ul><li>Fieldwork </li></ul><ul><li>Prepare & Analyze the Data </li></ul><ul><li>Prepare & Present the Report </li></ul>
  12. 12. <ul><li>Uncontrollable Environmental Factors </li></ul><ul><li>Economy </li></ul><ul><li>Technology </li></ul><ul><li>Competition </li></ul><ul><li>Laws and Regulation </li></ul><ul><li>Social and Cultural Factors </li></ul><ul><li>Political Factors </li></ul>Assessing Information Needs <ul><li>Customer Groups </li></ul><ul><ul><li>Consumers </li></ul></ul><ul><ul><li>Employees </li></ul></ul><ul><ul><li>Channel Members </li></ul></ul><ul><ul><li>Suppliers </li></ul></ul>Marketing Research <ul><li>Marketing Managers </li></ul><ul><li>Market Segmentation • Marketing Programs </li></ul><ul><li>Target Market Selection • Performance and Control </li></ul><ul><li>Controllable Marketing Variables </li></ul><ul><li>Product </li></ul><ul><li>Pricing </li></ul><ul><li>Promotion </li></ul><ul><li>Distribution </li></ul>Marketing Decision Making Providing Information
  13. 13. Marketing Research Industry Research Suppliers Internal Limited Service Full Service External Other Services Field Services Customized Services Syndicated Services Internet Services
  14. 14. Determining When to Conduct Marketing Research Is sufficient time available ? Information already on hand inadequate? Is the decision of strategic or tactical importance? Does the information value exceed the research cost? Conduct Marketing Research Do Not Conduct Marketing Research Time Constraints Availability of Data Nature of the Decision Benefits vs. Costs Yes Yes Yes Yes No No No No
  15. 15. Q & As