Part 2: Capturing Market Insights<br />> The Marketing Research System<br />> The Marketing Research Process<br />> QUIZ f...
The Marketing Research SystemConcept<br />Marketing Research: the systematic design, collection, analysis, and reporting o...
The Marketing Research ProcessSchematic<br />MG 220 Marketing Management<br />3<br />
The Marketing Research ProcessStep 1: Define the Problem and Research objectives<br />Marketing Management defines the pro...
The Marketing Research ProcessStep 2: Develop the Research plan<br />Most efficient plan for gathering information<br />De...
The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Data sources<br />Secon...
The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Research Approaches<br ...
The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Research Instruments<br...
The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Sampling Plan<br />Samp...
The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Contact Methods<br />Ma...
The Marketing Research ProcessStep 3: Collect the information<br />This is the execution of Step 2<br />Most expensive and...
The Marketing Research ProcessStep 4: Analyze the information<br />Data tabulation<br />Frequency distributions<br />Stati...
The Marketing Research ProcessStep 5: Present the Findings<br />Researchers’ findings<br />Related to management’s defined...
The Marketing Research ProcessStep 6: Make the Decision<br />Management’s task<br />Based on what researcher has provided<...
The Marketing Research ProcessOvercoming barriers to use of Marketing Research<br />Narrow conception of research<br />Une...
QUIZ # 1 | 30 Aug 2010<br />Related to Part 1 (Chapter 1 & 2)<br />Time: 20 Mins<br />MG 220 Marketing Management<br />16<...
AssignmentPart 2 & 3 of 4<br />Part 2: 	SWOT Analysis: From existing data available through different sources what do you ...
AssignmentPart 4 of 4<br />Part 4: 	Market Research for your brand: You are supposed to launch a product extension or new ...
Part 2: Capturing Market Insights<br />> Measuring Marketing Productivity<br />> Forecasting and Demand Measurement<br />C...
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Session 5 MG 220 MBA - 30 Aug 10

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Session 5
MG 220 Marketing Management
MBA 2010
* Also contains rest of parts of Assignment 1

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Session 5 MG 220 MBA - 30 Aug 10

  1. 1. Part 2: Capturing Market Insights<br />> The Marketing Research System<br />> The Marketing Research Process<br />> QUIZ for Part 1 (Session 1 – 3)<br />Class Presentation | Session 5 | 30 Aug 2010<br />
  2. 2. The Marketing Research SystemConcept<br />Marketing Research: the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company<br />Marketing Research firms:<br />Syndicated-service research firmsGather information/data and sell it as research reports<br />Custom marketing research firmsEngaged to carry-out specific projects. They design the study and then report the findings<br />Specialty-line marketing research firmsSpecialized services within Marketing research e.g. online survey execution/management, field interviews etc.<br />MG 220 Marketing Management<br />2<br />
  3. 3. The Marketing Research ProcessSchematic<br />MG 220 Marketing Management<br />3<br />
  4. 4. The Marketing Research ProcessStep 1: Define the Problem and Research objectives<br />Marketing Management defines the problem<br />Not too broad<br /> What features should be in our new blackberry model<br />Not too narrow<br /> Should the internet connectivity be through 3G if we increase plan price by 45%<br />Balanced, well-thought and result-oriented<br /> What should be enhancements in camera, internet and messenger services compared to existing blackberry<br />MG 220 Marketing Management<br />4<br />
  5. 5. The Marketing Research ProcessStep 2: Develop the Research plan<br />Most efficient plan for gathering information<br />Decisions for:<br />Data sources<br />Research Approaches<br />Research Instruments<br />Sampling Plan<br />Contact Methods<br />MG 220 Marketing Management<br />5<br />
  6. 6. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Data sources<br />Secondary data – collected for another purpose<br /> Readily available | Good starting point | Low cost<br />Research from past models | competitor analysis<br />Primary data – specifically for this project<br /> Focus of Main research | critical information<br />Needs to be designed completely based on given problem<br />MG 220 Marketing Management<br />6<br />
  7. 7. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Research Approaches<br />Observational Research<br /> Unobtrusive observing of customers(video/voice recorder at service desk selling Blackberry)<br />Focus Group Research<br /> Gathering of consumers for discussing the problem. Carefully selected and observed (existing customers of blackberry services can be invited)<br />Survey Research<br /> Learning more about consumers. Mass activity(A survey among existing blackberry users)<br />Behavioral data<br /> Purchasing behavior data or usage data or preference data(Data from datacenters showing what is usage of different functions)<br />Experimental Research<br /> A small activity emulating real product/service and getting feedback(Few prototypes given to selected consumers and their behavior/feedback is observed)<br />MG 220 Marketing Management<br />7<br />
  8. 8. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Research Instruments<br />Questionnaires<br /> A set of questions | carefully developed and tested before circulation<br /> Closed-end questions: MCQs | Open-ended questions: descriptive(A questionnaire developed for users)<br />Qualitative measures<br /> Qualitative analysis of consumers’ behaviors, activities and interpretation. <br /> May involve psychological tests related to product and their reactions. <br /> Possible only for very small group (observe consumers using phones)<br />Mechanical devices<br /> Devices (galvanometers, eye cameras) to observe user’s reaction on exposed to product(view user’s experience on seeing a prototype)<br />MG 220 Marketing Management<br />8<br />
  9. 9. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Sampling Plan<br />Sampling Unit<br /> Who is to be surveyed<br /> Based on product, problem etc. decision about who is going to form sample(High-end users, corporate clients, access to data networks)<br />Sample size<br /> How many people to be surveyed<br /> Again based on requirements, budget etc. <br /> General rule: Larger sample => better results(e.g. Total Blackberry user base in Pakistan: 100,000, Sample: 1,000)<br />Sampling Procedure<br /> How respondents shall be chosen<br /> Probability sampling (simple random, stratified random, cluster sample)<br /> Non-probability sampling (Convenience, judgment, quota)(convenience and judgment sampling for blackberry users)<br />MG 220 Marketing Management<br />9<br />
  10. 10. The Marketing Research ProcessStep 2: Develop the Research plan (…contd.)<br />Decisions for:<br />Contact Methods<br />Mail Questionnaire<br />Access to people who cannot or do not want to be interviewed<br /> Simple questionnaire is to be used<br /> Very low response rate(send a questionnaire to existing user with monthly invoice)<br />Telephonic interview<br />Quick and convenient. Questions might be clarified easily<br /> Response rate is good | but cannot be too long or personalized(e.g. make a call to 500 of Blackberry users and take 1-2minutes interview)<br />Personal interview<br /> Most versatile and elaborate method<br /> Most expensive and requires lot of administrative work<br /> Arranged (meeting) | Intercept (in malls etc)(Interviewing at service centers when use r is there for some other purpose)<br />Online interview<br /> Efficient and highly used<br /> inexpensive | faster | More ‘honesty’ | Versatile using technology<br /> Small and skewed sample | technological problems(Use online advertising or even website to request a survey)<br />MG 220 Marketing Management<br />10<br />
  11. 11. The Marketing Research ProcessStep 3: Collect the information<br />This is the execution of Step 2<br />Most expensive and most prone to error<br />Errors can be:<br />Respondents not available. Need to re-engage<br />(typical for high-end clients)<br />Respondents refuse to cooperate<br /> (typical for high-end clients)<br />Give dishonest or biased answers<br /> (biased because of very recent experience)<br />Interviewers can be biased or dishonest<br /> (just filling false information)<br />Still: Getting the right respondents is critical<br />MG 220 Marketing Management<br />11<br />
  12. 12. The Marketing Research ProcessStep 4: Analyze the information<br />Data tabulation<br />Frequency distributions<br />Statistical analysis<br />Discover!<br />MG 220 Marketing Management<br />12<br />
  13. 13. The Marketing Research ProcessStep 5: Present the Findings<br />Researchers’ findings<br />Related to management’s defined problem<br />Irrelevant information not required<br />(Give a finding of what features are wanted by what kind of customers-users, new users, age-wise etc.)<br />MG 220 Marketing Management<br />13<br />
  14. 14. The Marketing Research ProcessStep 6: Make the Decision<br />Management’s task<br />Based on what researcher has provided<br />(Marketing and Product Development team takes the final decision based on available results and information)<br />MG 220 Marketing Management<br />14<br />
  15. 15. The Marketing Research ProcessOvercoming barriers to use of Marketing Research<br />Narrow conception of research<br />Uneven (or even low) caliber of researchers<br />Poor farming of the problem<br />Late and occasionally erroneous findings<br />Personality and presentational differences<br />MG 220 Marketing Management<br />15<br />
  16. 16. QUIZ # 1 | 30 Aug 2010<br />Related to Part 1 (Chapter 1 & 2)<br />Time: 20 Mins<br />MG 220 Marketing Management<br />16<br />
  17. 17. AssignmentPart 2 & 3 of 4<br />Part 2: SWOT Analysis: From existing data available through different sources what do you think are S, W, O & Ts for your brand. Your own analysis is required.<br />Part 3: Assessing Growth Opportunities: Assume you are tasked with finding out different ways to improve profitability of your brand (or even its parent organization). <br /> Which of the approaches would you consider and how would you carry out your planned activity?<br /> Why would you choose the ones you selected?<br /> ALTERNATE: You may analyze the above as might have been carried out by the organization in the past. <br /> What they did? <br /> What particular options it represented referring to your text?<br />Max. one-page length for each part, typed<br />Due: Thu, Sep 2, 2010<br />MG 220 Marketing Management<br />17<br />
  18. 18. AssignmentPart 4 of 4<br />Part 4: Market Research for your brand: You are supposed to launch a product extension or new feature related to your brand. You intend to undertake marketing research yourself. Please state your research objective (step 1 of market research process) and create a complete research plan (step 2 of market research process). Give rationalities for your selections in plan.<br /> Follow guidelines/template for the market research process as given in text.<br />Max. one-page length, typed<br />Due: Mon, Sep 6, 2010<br />MG 220 Marketing Management<br />18<br />
  19. 19. Part 2: Capturing Market Insights<br />> Measuring Marketing Productivity<br />> Forecasting and Demand Measurement<br />Class Presentation | Session 6 | 2 Sep 2010<br />
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