Advanced Marketing research

1. Marketing Research
Problem identification research
• Market potential research- level of demand in the market.
• Market share research - consumers preference for a product over other similar products
• Market characteristic research – based on consumers pattern and their behavior.
• Sales analysis research - a business's sales performance, as well as customer data and
generated revenue
• Forecasting research - predicting the future based on the results of previous data. It involves
a detailed analysis of past and present trends or events to predict future events.

2. • Business trends research - shift or change in the fundamental business dynamics within an
industry
Problem Solving Research
• Segmentation Research - practice of dividing your target market into approachable groups.
Market segmentation creates subsets of a market based on demographics, needs, priorities,
common interests
• Product Research - how you validate a product idea and see if it'll be successful or not. It's a
part of the product development process. (Test concept, packaging, product design and
modification, brand positioning)
• Pricing Research - the impact of changes in price of a product on its demand. It is used by
organizations to help determine an optimal price for new products, in order to maximize
revenue and market share (Pricing policies, importance of price in brand, product line
pricing, price elasticity, response to price change.)
• Promotion Research - the development, execution or evaluation of advertising & promotion
(Advertising effectiveness, optimal promotional budget, sales promotion, promotional
mix, media creative advertising)
• Distribution Research - collection and analysis of information related to the sales of a
product or brand and its distribution through various retail channels so as to enable the
management make better decisions (Types of distribution, Attitude of channel members,
Channel margins, outlets locations)

4. Management decision problem
It is more action oriented, we have to answer " what to do
Marketing research problem
it is more data oriented, what are things that cause change, why is there a shift in the market, why
is there a shift in the buying pattern.
Importance of MR
• Segmentation
• Targeting
• Positioning
• customer value
• customer satisfaction and retention

6. Marketing Research – Process, design and errors
Problem Research
Market Research Design

7. Research Design is a Framework for conducting the market research project, it specifies the detail
of the procedure necessary for obtaining information which is needed for the framework to solve
the market research problem.
Exploratory research is research which identifies the exact nature of the problem is to be solved.
Example- a study into the implication of covid-19 pandemic into the global economy characteristics.
Characteristics- unstructured, interactive, inexpensive.
Conclusive research is research which helps the decision makers take the best course of action in a
given situation
Characteristics- flexible, conclusive results, structured.
Descriptive Research Design is a design that aims to obtain information to describe situation aur
function.
Example- determine the number of people who are covid-19 vaccinated
Characteristics- structured, preplanned, descriptive in nature
Cross-sectional design is a design in which you collect data from many different individuals at a
single point of time.
Example- cross sectional data the gross and annual income of 1000 randomly chosen people in India
for year.
Characteristics- it can compare different population groups at a single point of time
Longitudinal research design involves observation of the same group or people over a short or long
period of time
Example- 5-year study of children learning to read would be longitudinal study
Single cross-sectional design in this only one sample of response is drawn from the population and
information is obtained from that sample only.
Multiple cross-sectional design in these two or more samples of response are taken and information
from each sample is obtained only once.
Causal Research is a type of conclusive research, which attempts to establish a cause-and-effect
relationship between two or more variables.
Example- To check the performance or effectiveness of a new advertising campaign to decide
whether to continue it or not.
Characteristic- “cause” must take place before the “effect”

8. Total error is the difference between true mean value in the population and the observed mean
value obtained in the marketing research project.
Random sampling error is the error which is an imperfect representation of the population
Example- the average annual income of the target population is 75000 but it is only 71000 in the
sample.
Non sampling errors are those errors when there is a problem in the source and not in the sampling
this includes wrong questionnaire design, wrong approach.
Example- a researcher designs a poor questionnaire which contains several questions but they are
biased questions.
Response errors are those errors in which the respondent answers the question but the answer is
incorrect.
Non-response sampling error is the error when the respondent does not respond to the sample of
the question.

9. personality is composed of three elements known as the id, the ego, and the superego. These
elements work together to create complex human behaviors

10. Qualitative Process
Qualitative research involves collecting and analyzing non-numerical data (text, video, or
audio) to understand concepts, opinions, or experiences.
Focus Groups – page 3 of Basic AMR notes.

11. In-depth Interviews

12. Laddering- you ask a question and when you get the answer, you pick some words from that
answer and ask question again.
Hidden Issue Questions- aims to identify deeply personal views or concerns that would
otherwise not be revealed by participants
Symbolic Analysis- the interviewer attempts to find out what something symbolizes to the
participant, by asking about the object's opposite. This is a technique for finding out what
things really mean to the participant.
Projective Technique- personality testing in which the examinee is given a simple
unstructured task, with a goal of uncovering personality characteristics.
1. Completion techniques- in which the subject is required to complete sentences or
drawings.
2. Word Technique- In this list of words are given and you are asked to respond to each
with the first word that comes to mind.
3. Expressive Technique- In this list of words are given and you are asked to respond to
each with the first word that comes to mind.
4. Association – Ask to respond to the first thing that comes in the mind.
5. Construction – Ask to build a story or a dialogue.

13. Marketing Research – Survey, observation and casual research
Survey Method

14. The Survey method is the technique of gathering data by asking questions to people who
are thought to have desired information.
Criteria for survey method
1. Quantity- of data ability to collect large amount of data
2. Speed- time taken to complete the entire survey
3. Cost- total cost of administering the survey and Collection of data
4. Sensitive information- the respondents to give answer that are socially acceptable
5. Anonymity- The respondents Identity will not be disclosed by the interviewer or the
researcher
Observation
1. Structured observation- in this the researchers specifies in detail what is to be
observed.
2. Unstructured observation- in this the researcher monitors the activities of the
phenomena that seems relevant.
3. Disguised observation- the respondents are unaware that they are being
observed.
4. Undisguised observation- in this the respondents are aware that they are under
observation.
5. Natural observation- this phenomenon takes place by observing the behavior
that takes place in the natural environment.
Example you could observe the behavior of respondents eating fast food at
Burger King.
6. Contrived observation- in this the respondent behavior is observed in an artificial
environment.