Market, Marketing & Marketing Research Process

1. MARKETING RESEARCH
Dr.K.Chitra Chellam, Head & Assistant Professor of Commerce,
IIC Innovation Ambassador, A.P.C. Mahalaxmi college for Women, Thoothukudi.

2. MARKET IN MARKETING
• It is not a shopping zone or place where goods are sold
and bought.
• Market means people or consumers with purchasing
power.
Example: Market for mobile phones is the present and
potential users of the mobile phones.
• Market also refers to demand for a product or service.
Example: The market for gold jewellery in India is estimated
to increase by 18%.

3. China India Japan USA

4. MARKETING
Meeting consumer needs-------------Satisfying consumer needs is called marketing.
To satisfy consumer needs, the marketer or the manufacturer must know the follow:
• Who are our customers?
• What are their needs?
• How to satisfy their needs?
Consumer’s needs are not static. So a marketer must continuously monitor the changing needs of the
customers.
Marketing is satisfying the needs of the consumers at profit.

5. What is marketed?
Answer we would say is Product or Service marketed in the form of Brands.

6. What is ultimately marketed?
The answer is Value --- that is, the benefits and solutions.
Thus the consumers buy the benefits and solutions and not the product.
What we really expect in a product is called Value.

7. Research
Research is the process of gathering, recording and analysing of critical and relevant facts
with regard to any problem in any branch of human activity,
Marketing Research
Systematic gathering, recording, and analysing of data about problems related to the
marketing of goods and services.
The main aim of M.R is to collect information about consumers, dealers, competitors, &
products.

8. Need for Marketing Research
• To find out the factors that affect sales & profitability
• To gather information about competitor’s products.
• To study the reaction of the consumers towards our products.
• To find out the benefits and limitations of our products.
• To study the changing needs of the consumers----taste & preferences
• To analyze the market size
• To estimate future demand
• To improve the existing method of packaging, quality…..
• To assess the strength & weakness of the competitors
• To measure the effectiveness of advertising & other promotional
activities

9. Marketing Research Process
Procedure or steps followed by Marketing manager to solve marketing problems by conducting
marketing research :
• Defining the Problem
• Research Design
• Data Analysis & Interpretation
• Preparation of the Research Report

10. I. Defining the Problem:
A problem well defined is half solved
If the problem is defined vaguely or a wrong problem is defined, then the research results may
become useless to the management and the efforts of the researcher becomes a mere waste.
Example: There is decline in sales in a Company. The top management has asked the marketing
manager to investigate everything regarding sales.
The Marketing manager conducts research in the field of Sales alone and submits the research
report to the top management.
Will this report give accurate solution to the problem?
The answer is ‘No’.

11. The Marketing manager should have studied all the factors that would affect sales, that is, product
planning, pricing, distribution, promotion and other policies.
Therefore, before assigning a problem to a Marketing Researcher, that problem must be clearly
defined to him in order to get a better solution.

12. II. Research Design:
• It is the framework which provides guidelines for the rest of the research process..
• It is a blueprint according to which the research will be conducted.
• It specifies the data collection, data analysis, & sampling method to be followed by the
researcher.

13. a) Data Collection Methods
Secondary data are those data which are already available in the for records, and publications.
Example: Books, Magazines, Journals, Newspapers, Annual Reports etc.
Primary data do not exist already. They are to be collected for the first time by the researcher
himself.
Primary data can be collected through:
• Observation ---------------observe the actions or behaviour of the respondents directly or
indirectly
• Market surveys &-------------Commonly used metyhod….study consumer behaviour…attitude,
motives & opinion.
• Experiments……………. To make advertising more effective, the marketer an increase the
advertising expenditure in one market, reduce the Ad. Expenditure in another market & keep
the Ad.expenditure in the 3 rd market constant. After a particular period, he can decide the
action to be taken to improve the effectiveness of advertising.
Secondary Data
Primary Data

14. b) Research Instruments:
In case of Survey method-------------Questionnaire method------ form consisting of questions related to survey.
Blank spaces are there for answers………….sent to the respondents.

15. c) Sampling Plan:
First step in the sampling plan is to decide the universe or the population.
Population is the entire collection of items to be studied by the researcher.
Example: To Study Consumers’ Preferences towards Gold Jewellery in Thoothukudi City.
The researcher can’t contact all the people in Thoothukudi.
At this stage, the researcher must decide the following:
Sampling unit , sample size, sampling procedure & contact method

16. Sampling unit:
Who is to be surveyed?-------------- It depends upon the product or service.
Example: In a survey on the attitude towards the use of Gold jewellery, the researcher must decide
whether women alone are to be surveyed or both men and women are to be surveyed.
Sample size
The entire population cannot be studied.
Sampling procedure: Random sampling method (Probability sampling) & Non-random sampling
method(Non- Probability sampling)
Field work:
The researcher starts collecting the data .
Field work is the most expensive of all the steps in a research work.
The researcher may face a number of problems during the field work.

17. III. Data Analysis & Interpretation
The collected data are edited & tabulated for analysing.
Data can be analysed by using simple statistical tools like percentages, mean etc.
Diagrams, charts & graphs can also be used.
Data should be analysed from various angles.
Give findings, suggestions, & conclusion

18. IV. Report Preparation:
After the data is analysed and interpreted, the researcher presents the research results in the
form of a printed report.
The order or the sequence followed for preparing research report is:
• Title page
• Table of contents
• Acknowledgement
• Introduction-----Objectives of the Research. Methodology,
Review of literarture…
• Actual analysis & Interpretation of data
• Findings
• Conclusions & recommendations
• Appendices ----- Copies of Questionnaire, Bibiliograhy…

19. Market Research Agencies in India
1. Market Xcel - 12 offices - New Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Trivendrum,
Ludhiana, Lucknow, Ahmedabad, Pune & Patna.-----------------
2. The Nielsen – UK based company------------exist in 100 countries
3. Kantar IMRB International – Headquarters in Mumbai
4. RNB Research – New Delhi
5.Majestic MRSS – Founded in 1922
In-house: Separate Department in the Company for conducting
Research.
Outsource: Marketing research will be conducted by Market Research
Agencies

20. To Conclude…………….
A Good Marketing Research should have the following qualities:
• Relevance
• Accuracy
• Completeness
• Precision
• Cost Effective
• Timeliness
• Clarity
• Unbiased
• Authenticity
• Reliability
• Strategic Value