NATURE & SCOPE OF MARKETING RESEARCHPresentation Transcript
NATURE & SCOPE OF MARKETING RESEARCH Date:-23 / 01 / 2009 Presented by:- Sagar Anand Roll No.-05
Curtis publishing company is the first company.
Charles Coolidge parlin was the first head.
Research was for Campbell soup.
In the United States.
Hindustan express news paper
Largest chain of news paper in India
During 1975 – 1977 fought for freedom of the press
Newspaper flash lighted government and its policies
Suffered restrictions and newspaper quota
Change in government - 1977
Role played by this newspaper was hailed
Earlier position completely reversed
Financial position improved with in 18 months
Case study cont.
Hindustan express simultaneously published in English language
west -- Bombay, Ahmedabad
South -- Madras, Bangalore, Hyderabad, Trivandrum
North -- Chandigarh
East -- none
Have two regional language paper
Marathi from Bombay
Malayalam from cochin
New plan to start an edition from Pune in Marathi
Already five Marathi newspaper published daily from Pune and four from Bombay
Pune hardly 180 km from Bombay, as such Bombay edition could easily reach Pune by newspaper taxi.
The circulation of regional language newspaper is low.
Advertising revenue is low.
Will the new edition from Pune be financially feasible?
Will the new edition have market feasibility?
What is marketing research
Marketing research is the function that links ,
and public to the marketer
comprises defining and redefining problems,
Formulating hypothesis or suggested solutions
Collecting, organizing, and evaluating data
Making deductions and reaching conclusions
And at last carefully testing the conclusion to determine whether they fit the formulation
Classification of research
a) Problem solving research
b) Problem identification research.
Problem Solving Research
Problem Identification Research
Market potential research
Market share research
Market characteristics research
Business trend research
Why marketing research has evolved and grown ?
Managers are separated from their final consumers
Managers needs information from their final consumers
Managers are separated from their final consumers Manufacturer Retailer Services Org. Final Consumer Mkt. Manager
Managers needs information from their final consumers Manufacturers Retailers Suppliers Customers Needs And Wants
Managers needs information from their final consumers Target market Product/service Price Distribution Promotion Marketing Manager Wants information
Controllable Marketing Variables _______
Law and Regulations
Social and culture Factors
Assessing Information Needs Providing Information Marketing Decision Making
Target Market Selection
Performance and Control
The role of marketing research in managerial decision making is explained further using the framework of the DECIDE model:
D — Define the marketing problem
E — Enumerate the controllable and uncontrollable
C — Collect relevant information
I — Identify the best alternative
D — Develop and implement a marketing plan
E — Evaluate the decision and the decision process
Applications of Marketing Research
Customer Satisfaction Research
Types Of Research
Descriptive vs. Analytical
Applied vs. Fundamental
Quantitative vs. Qualitative
Conceptual vs. Empirical
Also known Statistical Research
Includes survey & facts
What age group buying a particular brand
Use facts or information already available
Designed to solve practical problem of the modern world
For example, applied researchers may investigate ways to:
improve agricultural crop production
treat or cure a specific disease
improve the energy efficiency of homes, offices, or modes of transportation
Driven by a scientists in a scientific question
The main motivation is to expand Man’s knowledge, not to create or invent something
For example, basic science investigations probe for answers to questions such as:
How did the universe begin?
What are protons, neutrons, and electrons composed of?
How do slime molds reproduce?
What is the specific genetic code of the fruit fly
Used to measure how many people feel, think or act in a particular way
Many vehicle used for collecting quantitative information but the most common are on street or telephone
Used to help us understand how people feel and why they feel as they do
It is concerned with collecting in-debt information asking questions such as why do you say that
Depth interviews or group discussions are two common methods used for collecting qualitative information
Related to some abstract ideas or theory
It is generally used by philosopher and thinkers to develop new concepts or to reinterpret existing ones
Relies on experience or observation alone, often without due regard for system & theory
Benefits of Marketing Research
Benefit to business and industry
Benefits to economy.
Six essential benefit
Enhanced ability to make well-informed decisions.
Provides a cost-effective opportunity to supplement a company's internal training.
Facilitates a common knowledge bridge..
Provides a specific starting point for people entering the profession.
Gives company an objective tool to help develop and promote employees.
Assists researchers in understanding and differentiation between good research and impartial research.
Characteristics of a good marketing research:
Use of more scientific methods
Cost and benefits
Use of the Statistical method
Alternative course of action
Scope of marketing research
The scope of marketing research could cover the business problems relating to the followings.
Types of consumers that compromise present and potential markets.
Buying habits and pattern of consumption
Size and location of different markets, not only in India but also overseas.
The prospects for growth or construction for the current markets being served.
New mantras of emerging segments.
Marketing and manufacturing capabilities of competitors.
Most suitable entry timing.
The current and prospective competitive position.
Chances of improvement of current channels.
Optimum use of promo- tools.
Qualities of a good researcher:
Qualities Entry level junior staff senior staff
Strong writing skills 57 71 90
Strong analytic skills 50 67 90
Strong verbal skills 49 57 82
Professional appearance 19 28 5
Good grades 15 04 07
Good quantitative skills 13 19 41
Graduate degree 06 11 16
Good school 03 ** 01
Managerial skills ** ** 49
Client handling skills ** ** 83
Obstacles in acceptance of marketing research
Due to globalization, liberalization and privatization
Improper orientation of the investigator
Improper research technique
Inadequate skill of investigator
Research inclined towards predetermined research
Ethical condition of Market Research
Information should not be misused
Do not force the customer to answer
Respondent reply should also be kept confidential
Ask sensible personal questions
Limitations of Marketing Research
Not a panacea
Not an exact science
Limitation of time
Not exact tool for forecasting
In experience research research staff
Narrow conception of marketing research
Marketing research in internet era
Downloadable interactive survey application
Data warehousing and data mining
Name of the Book Author Publication Marketing research Donald. S.Tull Del I.Hawking Prince hall of india Marketing Research G.C.Beri Tata McGraw Hill publishing Co. Ltd Marketing Research M.V.Kulkarni Everest Publishing House Webliography :- www.google.com www.ask.com