An Introduction to Marketing Research

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Marketing Research is the function which links the consumer, customer and public to the marketer. This is done through information, which is used to identify and define marketing opportunities and problems, generate, refine and evaluate marketing actions, monitor marketing performance and improve understanding of marketing as a process. Know more about “Marketing Research” through this presentation.
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An Introduction to Marketing Research

  1. 1. Chapter 1Introduction to Marketing Research Chapter 1 Introduction to Marketing Research Marketing Research
  2. 2. Learning Objectives 1. To understand the meaning of the term ‘Marketing Research’, the basic impetus in decision making 2. To understand the utility of marketing information for purpose of decision making in the changing marketing scenario 3. Identify how marketing research can be effectively used 4. Understand the link between marketing environmental factors and MIS to facilitate decision makingChapter 1 Introduction to Marketing Research Marketing Research
  3. 3. Definition of Marketing Research Marketing research is the function which links the consumer, customer and public to the marketer through information- information used to identify and define marketing opportunities and problems, generate, refine and evaluate marketing actions, monitor marketing performance and improve understanding of marketing as a process.Chapter 1 Introduction to Marketing Research Marketing Research
  4. 4. Marketing research specifies the information required to address these issues, designs the method for collecting information, manage and implements the data collection process, analyzes the results and communicates the findings and their implicationsChapter 1 Introduction to Marketing Research Marketing Research
  5. 5. Nature and Scope of Marketing Research Post-liberalization and e-commerce has reduced economic boundaries and increased the level of competition Marketing Research is significantly playing an important role in the decision making process of a marketing managerChapter 1 Introduction to Marketing Research Marketing Research
  6. 6. Decision Making With Marketing Information According to the concise Oxford Dictionary the definition of information includes ◦ Informing ◦ Knowledge ◦ NewsChapter 1 Introduction to Marketing Research Marketing Research
  7. 7. Emphasis on Changing the Old Marketing Frame Work The rapid changes occurring in the industry have compelled firms to take a new look or re-engineering most of the management functions like manufacturing, accounts, logistics and after sales issues. The sole function to have not changed much is the field of marketing. This is because traditionally marketing decisions were based on past data or the “sixth sense of the decision maker”.Chapter 1 Introduction to Marketing Research Marketing Research
  8. 8. Decision Making and Management The effectiveness of the decision making process will be analyzed on the type of decisions taken. The key to getting the information sought by the manager i.e. inputting and extracting the essential data will be dependent on the development of a good Marketing Information System.Chapter 1 Introduction to Marketing Research Marketing Research
  9. 9. Usual Management DecisionsChapter 1 Introduction to Marketing Research Marketing Research
  10. 10. Some Features of Marketing ResearchChapter 1 Introduction to Marketing Research Marketing Research
  11. 11. Research as a Preliminary to Marketing Marketing research makes a vital contribution at the market entry level For testing the market size For monitoring the firm’s marketing effectiveness To identify customer satisfaction or dissatisfaction To identify competitors movements/strategies To probe and identify emerging or changing trends or new unmet wants of the customersChapter 1 Introduction to Marketing Research Marketing Research
  12. 12. ‘Traditional’ Versus ‘New’ Approach on MediaChapter 1 Introduction to Marketing Research Marketing Research
  13. 13. For Marketing Research to be Effective For marketing research to be effective following factors are important 1.Importance of the relevant information 2.Type and nature of the particular problem 3.Scheduling the time when research is to be done and availability of resourcesChapter 1 Introduction to Marketing Research Marketing Research
  14. 14. In-house and External Research Information Provides In House Research Departments ◦ Marketing Research department ◦ Customer services support department ◦ Sales team ◦ Accounting department ◦ Corporate strategic planningChapter 1 Introduction to Marketing Research Marketing Research
  15. 15. External Information Suppliers ◦ Marketing research groups/agencies ◦ Consultants(customized information) ◦ Firms routinely collecting and publishing information and data ◦ Firms conducting market research projects to various clients in a standardized mannerChapter 1 Introduction to Marketing Research Marketing Research
  16. 16. Summary The term ‘Marketing Research’ is gaining a lot of importance The current scenario demands that the firm, develop an information culture which will inject a flow of continuous data and information into the company To facilitate effective decision making, the marketer has to work out a combination of direct and indirect interactive research methods and develop a Marketing Information SystemChapter 1 Introduction to Marketing Research Marketing Research

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