Market Research - Nitty Gritty

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Basics of Market Research and Analytics

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Market Research - Nitty Gritty

  1. 1. Market Research<br />Nitty-Gritty…<br />
  2. 2. Objective<br />What is MR?<br />Definition<br />Why MR?<br />Different Categories<br />When to use what?<br />Qualitative Analysis<br />Quantitative Analysis<br />
  3. 3. Defining MR<br />Market<br />Research<br />Researching about market from different perspectives to gain insights about particular dynamic/s is termed as MARKET RESEARCH.<br />Insights can be:<br />+<br />=<br />Market Research<br />
  4. 4. Why MR??<br />Market Research can be fruitful in 3 marketing areas, viz;<br />
  5. 5. The Market Research Process<br />
  6. 6. Classification of MR<br />
  7. 7. Exploratory <br />Exploratory Research<br />Conducted because a problem has not been clearly defined. <br />Helps in determining the best research design, data collection method and selection of subjects<br />Area of implementation/usage<br />The objective of exploratory research is to gather preliminary information that will help define problems and suggest hypotheses<br />
  8. 8. Descriptive <br />Descriptive<br />Describes data and characteristics about the population or phenomenon being studied. <br />Answers the questions who, what, where, when and how...<br />Employs structured questionnaire and emphasis is on generating accurate picture of relationships between and among the variables.<br />The objective of descriptive research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.<br />
  9. 9. Causal<br />Causal Research<br />Explores the effect of one thing on another and more specifically, the effect of one variable on another. <br />Helps not only in identifying potential problems but also in locating specific causes of the problems<br />The objective of causal Research is to test hypotheses about cause-and-effect relationships<br />
  10. 10. MR vs ANALYTICS<br />
  11. 11. ANALYTICS<br />
  12. 12. Qualitative Analysis – TECHNIQUES<br />
  13. 13. Quantitative Techniques – TECHNIQUES<br />
  14. 14. Thank You<br />

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