In this part, we define and classify marketing research and set out a six-step marketing research process. We discuss the nature and scope of marketing research and explain its role in decision support system.
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
slide share on promotion strategy how the promotion strategy works in selling out the products and how promotion activities are necessary to sell the more products and to increase the sale as well as profit of the company
Presentation made for a lecture that I gave at ITM Mumbai. Marketing Research was an elective subject for the students and this is an overview of the subject
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
Chapter 1 DEFINING MARKETING FOR THE 21st CENTURYNishant Agrawal
DEFINING MARKETING FOR THE 21st CENTURY
WHAT IS MARKETED?
DEMAND STATES
Core MARKETING CONCEPTS
MARKETING CONCEPTS
Company orientation
Towards marketplace
COMPANY ORIENTATION
Holistic Marketing Concept
Understand four Ps (Marketing Mix)
MARKETING TASKS
slide share on promotion strategy how the promotion strategy works in selling out the products and how promotion activities are necessary to sell the more products and to increase the sale as well as profit of the company
Presentation made for a lecture that I gave at ITM Mumbai. Marketing Research was an elective subject for the students and this is an overview of the subject
This is the ppt of 1st unit of Market research subject in 2nd semister of management or mba degree it follows the syallabus of Savitribai phule Pune University and it helpful to make notes of marketing and also buisness research methods and marketing research subject
Principles of Marketing. It tackles market research, its importance and purpose. And also the process or steps in conducting marketing research. The kinds of data sampling and size etc.
Consumer Decision Making Process and models -Howard Sheth, Nicosia Model, Engel Blackwell and Kollat, pavlovian lerning model, sociological model, Psychoanalytic(Sigmund Freud), Andreason
Unit 3 external influences on consumer behaviour (1)viveksangwan007
External Influences on Consumer Behaviour
Group Dynamics and Reference Groups: Consumer relevant groups, Types of Family: Functions of family, Family decision making, Family Life Cycle (Modern and Traditional) Culture: Values and Norms, Characteristics and influence on Consumer Behaviour, sub culture, Cross cultural consumer behavior. Social Class: Categories, Measurement and Applications of Social Class.
Unit 2 motivation, personality, consumer's perception, learning & attitud...viveksangwan007
Motivation: Nature and Types of Motives, Process of motivation, types of Needs. Personality: Theories, Product Personality, Self Concepts. Consumer Perception: Concept and Elements of Perception, Consumer Imagery, Perceived Risk. Consumer Learning:Behavioural and Cognitive Learning Theories. Consumer Attitude: Functions of Attitude and Sources of Attitude Development, Attitude formation Theories (Tricomponent, Multi attribute and Cognitive Dissonance), Attitude Change Strategies.
Emerging trends in consumer behavior: Consumer behavior in online space. Use of Information technology and AI in consumer profiling and engagement, concept of materialistic vs spiritualistic consumption.
Delivering and Promoting Product: Supply Chain Decisions Nature, Types, Channel Design and Channel Management Decisions, Retailing, Wholesaling, Personal Selling: Personal Selling Process, Managing the Sales Force. Promotion Mix: Advertising, Sales Promotion, Public Relations. Emerging Trends in Marketing: Green Marketing, Event Marketing, Network Marketing, Social Marketing, Buzz Marketing/ Viral Marketing, Customer Relationship Management (CRM), Global Marketing, Rural Marketing, E-Commerce: Marketing In The Digital Age.
Emerging trends in social media marketing: Big data, IOT, Content Creation and Sharing: Blogging, micro blogging, Streaming Video, Podcasts, and Webinars.
Note: Relevant Case Studies should be discussed in class.
Social media marketing strategies: Introduction, defining social media marketing mix, social media marketing planning, social media marketing channels.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
2. MARKETING
Planning and Execution regarding the 4Ps.
Creating Exchange
Satisfying consumer needs as well as
organizational objectives.
3. RESEARCH
“Creative and systematic work undertaken
to increase the stock of knowledge, including
knowledge of humans, culture and society,
and the use of this stock of knowledge to
devise new applications.“
It is used to establish or confirm facts,
reaffirm the results of previous work, solve
new or existing problems, support theorems,
or develop new theories.
4. ACRONYMS
R ecognition of information needs
E ffective decision making
S ystematic and Objective
E xude or disseminate information
A nalysis of information
R ecommendations of action
C ollection of information
H elpful to managers
5. MARKETING RESEARCH
To obtain information about the
preferences, opinions, habits, trends, and
plans of potential customers.
The systematic gathering, recording, and
analysis of data about issues relating to
marketing products and services.
6. It is a technique to know:
Who are customers of our products or services?
Where do they live?
When and how do they buy the product and services?
Are customers of our products satisfied with the
products?
Who are our main competitors in the market?
Are the company’s products inferior or superior to
competitors’ products?
What policies and strategies are they following?
7. NEED OF MARKETING RESEARCH
To undertake marketing effectively
Changes in technology
Changes in consumer tastes
Market demand
Changes in the product ranges of competitors
Changes in economic conditions
Distribution channels
8. Marketing research is related to………………
a) Finance process
b) Marketing Process
c) Business Process
d) None of the above
Marketing research is the function that links the ___________ to the marketer
through information---information used to identify and define marketing
opportunities and problems; to generate, refine and evaluate marketing actions; to
monitor marketing performance; and to improve understanding of the marketing
process.
a) Marketer, agent and retailer
b) Demander, buyer and user
c) Specifier, influencer and user
d) Consumer, customer and public
________ is the systematic design, collection, analysis, and reporting of data
relevant to a specific marketing situation facing an organization.
a) The marketing information system
b) Marketing intelligence
c) Marketing research
d) Competitive intelligence
Brush
up Time
9.
10. PROBLEM-SOLVING RESEARCH
Segmentation
Research
1. Determine the basis of
segmentation
2. Establish market
potential and
responsiveness for
various segments
3. Select target markets
4. Create lifestyle profiles:
demography, media,
and product image
characteristics
Product Research
1. Test concept
2. Determine optimal
product design
3. Package tests
4. Product modification
5. Brand positioning and
repositioning
6. Test marketing
7. Control store tests
11. PROBLEM-SOLVING RESEARCH
Pricing Research
1. Pricing policies
2. Importance of price in
brand selection
3. Product line pricing
4. Price elasticity of demand
5. Initiating and responding
to price changes
Promotional Research
1. Optimal promotional
budget
2. Sales promotion
relationship
3. Optimal promotional mix
4. Copy decisions
5. Media decisions
6. Creative advertising
testing
7. Evaluation of advertising
effectiveness
12. PROBLEM-SOLVING RESEARCH
Distribution Research
1. Types of distribution
2. Attitudes of channel members
3. Intensity of wholesale & retail coverage
4. Channel margins
5. Location of retail and wholesale outlets
13. 6 -Steps Process
1. Definition of the problem being studied
upon.
2. Determining what approach to take,
3. Formulation of research design,
4. Field work entailed,
5. Data preparation and analysis,
6. Generation of reports, how to present these
reports.
14.
15. NATURE / CHARACTERISTICS
Marketing research has a wide scope
Systematic, scientific and objective
Continuous and dynamic process
Tool for decision making
Benefits to the company and consumers
Similar to military intelligence
Applied research
Closely connected with marketing information system (MIS)
Reduces the gap between producers and consumers
Use different methods
Limitations
Importance to accurate data collection & critical analysis
16. 7 CHARACTERISTICS OF A GOOD
MARKETING RESEARCH
1. Scientific Method : Research should use principles of scientific
methods ;careful observation, formulation of hypothesis, prediction
and testing
2. Research Creativity : Research should develop innovative ways
to solve a problem
3. Multiple Methods : Try to use 2 or 3 methods for getting more
confidence and more accurate result
4. Interdependence of models and data : Researchers recognize
that data are interpreted from underlying models that guide the
type of information sought
5. Value and Cost of Information : Estimation of cost and value, it
is easier to determine cost but value is harder, it depends on the
reliability and validity of information
6. Healthy Skepticism : Researcher shows a healthy skepticism
towards glib assumptions made by managers
7. Ethical Marketing : Marketing research benefits both the
sponsoring company and its customers
18. PURPOSE OF MARKETING RESEARCH
The purpose of marketing research (MR) is to provide
management with relevant, accurate, reliable, valid, and
up to date market information.
Gain a more detailed understanding of
consumers’ needs: e.g., views on products’ prices,
packaging, recent advertising campaigns
Reduce the risk of product/business failure:
a. There is no guarantee that any new idea will be a
commercial success
b. Can help to achieve commercial success
Forecast future trends:
a. It can also be used to anticipate future customer needs
19. OBJECTIVE OF MARKETING RESEARCH
1. Minimizing Cost
2. Controlling
3. Formulation of policies
4. Cover the business risk
5. Guiding the manufacturers
6. To know the demographics and psychographics of
customer
7. To find out the impact of promotional efforts
8. To know customer response to a new product
9. To forecast sale
10. To anticipate competitive moves
20. STRUCTURE OF MARKETING RESEARCH
INDUSTRY
Clients
Marketers
Media
Retailers/
Wholesalers
Govt./
University
Suppliers
Syndicated
Research
Custom
Research
Limited
Function
Data Analysis
Suppliers
Service Firms
Field Service
Firms
Sampling firms
21.
22. Careers in Marketing Research
Career opportunities are available with marketing
research firms (e.g., AC Nielsen, Burke, Inc., M/A/R/C)
Careers in business and non-business firms and
agencies with in-house marketing research
departments (e.g., Procter & Gamble, Coca-Cola, AT & T,
the Federal Trade Commission, United States Census Bureau)
Advertising agencies (e.g., BBDO International, Ogilvy &
Mather, J. Walter Thompson, Young & Rubicam)
Positions: vice president of marketing research, research
director, assistant director of research, project manager, field
work director, statistician/data processing specialist, senior
analyst, analyst, junior analyst, and operational supervisor.
23.
24. ADVANTAGES OF MARKETING RESEARCH
1. Indicates current market trends
2. Pinpoints deficiencies in marketing policies
3. Explains customer resistance
4. Suggests sales promotion techniques
5. Guidance to marketing executives
6. Selection and training of sales force
7. Facilitates business expansion
8. Suggests marketing opportunities
9. Suggests distribution channels
10. Provides marketing information
25. LIMITATIONS OF MARKETING RESEARCH
1. Offers suggestions and not decisions
2. Fails to predict accurately
3. Cannot study all marketing problems
4. Time-consuming activity
5. Costly/expensive activity
6. Dearth of qualified staff
7. Limitations of data used
8. Vague Result
26. Brush up time
Q. Which of the following are the Benefits of Market
Research?
a) Tapping Opportunities
b) Encouraging Communication
c) Minimization of the risks
d) Find out possible problems
e) All the above
27. Brush up time
Q. Select the mistakes to avoid when doing market
research:
a) Doing only primary market research or secondary
market research
b) Using only the web for research
c) Limited Vision
d) Not being able to identify your target audience
e) Not giving consumers an incentive to communicate
with you
f) A, B & C only
g) All the Above
28. Marketing Information System (MKIS)
A marketing information system is a management
information system (MIS) designed to support
marketing decision making.
Jobber defines it as a "system in which marketing
data is formally gathered, stored, analyzed and
distributed to managers in accordance with their
informational needs on a regular basis.
29.
30. Decision Support System (DSS)
A decision support system is an information
system that supports business or organizational
decision-making activities.
