This document discusses marketing research and demand forecasting. It defines marketing research as the systematic and objective identification, collection, analysis, dissemination, and use of information to improve decision-making related to problems and opportunities in marketing. The document outlines the need for marketing research to effectively undertake marketing and reduce risks. It also describes the purpose of marketing research as gaining a better understanding of consumer needs to reduce failure risks and forecast trends. The document then discusses different types of marketing research techniques and methods, as well as the marketing research process. Finally, it discusses demand forecasting and different levels and functions of measuring market demand.
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.
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
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.
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
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.
Strategies Affecting Consumer Behavior:
Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are various factors influencing the purchases of consumer such as social, cultural,economic, personal and psychological.
1. Social Factors
Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role and status.
a)Reference Groups
Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is visible such as dress, shoes, car etc .
b) Family
Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.
c) Roles and Status
Each person possesses different roles and status in the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is working in an organization as finance manager. Now she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced by her role and status.
2. Cultural Factors:
Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class.
Culture
Basically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.
Subculture
Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various small portions. For example marketers can design products according to the needs of a particular geographic group.
Social Class
Every society possesses some form of social class which is important to the marketers because the buying behavior of people in a given social class is similar.
3. Economic Factors:
Consumer behaviour is influenced largely by economic factors. Economic factors that influence consumer behaviour are as: personal income, family income ,savings ,consumer credit and other economic factors.
a) Personal Income:
The discretionary personal income refers to the balance remaining after meeting basic necessaries of life. This income is available for the purchase of shopping goods, durable goods and luxuries. An increase in the discretionary income leads to an increase in the expenditure on shopping goods, luxuries etc. which improves the standard of living
Discuss.io is a leader among market research companies. It provides an array of project support tools to conduct market research. Discuss.io research platform can be used to generate usable consumer data for brands and research agencies of all sizes and budgets.->> http://goo.gl/Vzkwh9
The Consumer
Research Process
The Importance of the Consumer
Research Process
Largely Influenced by Psychology, sociology, and anthropology
Developing Research Objectives
Secondary Data
Designing Primary research
Qualitative Collection Method
Depth Interview
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
Conducting Marketing Research
What is Marketing Research?
Types of Marketing Research Firms
The Marketing Research Process
Marketing Research Process
Characteristics of Good Marketing Research
What is Marketing-Mix Modeling?
Marketing Dashboards
Strategies Affecting Consumer Behavior:
Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are various factors influencing the purchases of consumer such as social, cultural,economic, personal and psychological.
1. Social Factors
Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role and status.
a)Reference Groups
Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is visible such as dress, shoes, car etc .
b) Family
Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.
c) Roles and Status
Each person possesses different roles and status in the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is working in an organization as finance manager. Now she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced by her role and status.
2. Cultural Factors:
Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class.
Culture
Basically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.
Subculture
Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various small portions. For example marketers can design products according to the needs of a particular geographic group.
Social Class
Every society possesses some form of social class which is important to the marketers because the buying behavior of people in a given social class is similar.
3. Economic Factors:
Consumer behaviour is influenced largely by economic factors. Economic factors that influence consumer behaviour are as: personal income, family income ,savings ,consumer credit and other economic factors.
a) Personal Income:
The discretionary personal income refers to the balance remaining after meeting basic necessaries of life. This income is available for the purchase of shopping goods, durable goods and luxuries. An increase in the discretionary income leads to an increase in the expenditure on shopping goods, luxuries etc. which improves the standard of living
Discuss.io is a leader among market research companies. It provides an array of project support tools to conduct market research. Discuss.io research platform can be used to generate usable consumer data for brands and research agencies of all sizes and budgets.->> http://goo.gl/Vzkwh9
The Consumer
Research Process
The Importance of the Consumer
Research Process
Largely Influenced by Psychology, sociology, and anthropology
Developing Research Objectives
Secondary Data
Designing Primary research
Qualitative Collection Method
Depth Interview
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
Conducting Marketing Research
What is Marketing Research?
Types of Marketing Research Firms
The Marketing Research Process
Marketing Research Process
Characteristics of Good Marketing Research
What is Marketing-Mix Modeling?
Marketing Dashboards
FORECASTING DEMAND AND MEASUREMENT BY JEET PAREKH IIT BHU.
Market measuring and forecasting requires an analysis of the market with an aim of expressing it in quantitative (numeric) quantities both present and in the future.The quantitative measurement and forecasting of the market, together with its qualitative characteristics, are used as a basis for decision making by marketing management.Once the research is complete, the company must measure and forecast the size, growth, and profit potential of each market opportunity
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:
-there is no guarantee that any new idea will be a commercial success
-Can help to achieve commercial success
Forecast future trends:
-it can also be used to anticipate future customer needs
1. Marketing Research
2. Marketing
3. Marketing Research
4. Marketing Research
5.Need of M.R.
6. Purpose of M.R.
7. M.R. Methods
8. M.R. Methods
9.Classification of M.R.
10.Key to successful M.R.
The Chicken Coop Case Analysis Problem Statement Daryl Buckmeister, CEO of The Chicken Coop, must decide whether to invest in market research or any other.
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.
Understanding market research and the benefits it provides to marketing decisions. When to use quantitative, qualitative, primary and secondary techniques is vital to marketing strategy.
What do you mean by Market research, Concept of Market Research, Application of Market Research, Advantages of Market Research, Process of Market Research, Market Information.
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Coca Cola Branding Strategy and strategic marketing plan
Marketing research and demand forecasting
1. International Centre
for Cross Cultural
Research & Human
Resource Management
Presented by:-
Samarth Gupta, Shantanu Jamwal
18MBAIB14, 19MBAIB14
Marketing Management
PSMBAIBTC0103
3. E Effective decision making
S Systematic and objective
E Exude or disseminate information
A Analysis of information
R Recommendation for action
C Collection of information
H Helpful to managers
R Recognition of information needs
RESEARCH
4. Definition of Marketing Research
Marketing research is the systematic and objective
identification
collection
analysis
dissemination
and use of information
For the purpose of improving decision making related to the
identification and
solution of problems and opportunities in marketing.
5. Need For Marketing Research
• Why do businesses need accurate and up-to-date information?
– 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
6. Purpose Of Marketing Research
• 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:
– there is no guarantee that any new idea will be
a commercial success
– Can help to achieve commercial success
• Forecast future trends:
– it can also be used to anticipate future customer needs
7. Types of marketing research
• Marketing research techniques come in many forms, including:
Ad Tracking – periodic or continuous in-market research to monitor a brand’s performance using
measures such as brand awareness, brand preference, and product usage. (Young, 2005)
Advertising Research – used to predict copy testing or track the efficacy of advertisements for any
medium, measured by the ad’s ability to get attention (measured with AttentionTracking),
communicate the message, build the brand’s image, and motivate the consumer to purchase the
product or service. (Young, 2005)
Brand equity research - how favorably do consumers view the brand?
Brand association research - what do consumers associate with the brand?
Brand attribute research - what are the key traits that describe the brand promise?
Brand name testing - what do consumers feel about the names of the products?
Commercial eye tracking research - examine advertisements, package designs, websites, etc. by
analyzing visual behavior of the consumer
Concept testing - to test the acceptance of a concept by target consumers
Coolhunting - to make observations and predictions in changes of new or existing cultural trends in
areas such as fashion, music, films, television, youth culture and lifestyle
Buyer decision making process research - to determine what motivates people to buy and what
decision-making process they use; over the last decade, Neuromarketing emerged from the
convergence of neuroscience and marketing, aiming to understand consumer decision making
process
8. Copy testing – predicts in-market performance of an ad before it airs by analyzing
audience levels of attention, brand linkage, motivation, entertainment, and
communication, as well as breaking down the ad’s flow of attention and
flow of emotion. (Young, p 213)
Customer satisfaction research - quantitative or qualitative studies that yields an
understanding of a customer's satisfaction with a transaction
Demand estimation - to determine the approximate level of demand for the
product
Distribution channel audits - to assess distributors’ and retailers’ attitudes toward
a product, brand, or company
Internet strategic intelligence - searching for customer opinions in the Internet:
chats, forums, web pages, blogs... where people express freely about their
experiences with products, becoming strong opinion formers.
Marketing effectiveness and analytics - Building models and measuring results to
determine the effectiveness of individual marketing activities.
Mystery consumer or mystery shopping - An employee or representative of the
market research firm anonymously contacts a salesperson and indicates he or she
is shopping for a product. The shopper then records the entire experience. This
method is often used for quality control or for researching competitors' products.
Positioning research - how does the target market see the brand relative to
competitors? - what does the brand stand for?
9. Price elasticity testing - to determine how sensitive customers are to price
changes
Sales forecasting - to determine the expected level of sales given the level of
demand. With respect to other factors like Advertising expenditure, sales
promotion etc.
Segmentation research - to determine the demographic, psychographic, and
behavioural characteristics of potential buyers
Online panel - a group of individual who accepted to respond to marketing
research online
Store audit - to measure the sales of a product or product line at a statistically
selected store sample in order to determine market share, or to determine
whether a retail store provides adequate service
Test marketing - a small-scale product launch used to determine the likely
acceptance of the product when it is introduced into a wider market
Viral Marketing Research - refers to marketing research designed to estimate
the probability that specific communications will be transmitted throughout an
individual's Social Network. Estimates of Social Networking Potential (SNP)
are combined with estimates of selling effectiveness to estimate ROI on specific
combinations of messages and media.
10. Marketing research methods
• Methodologically, marketing research uses the following types of
research designs:
1. Based on questioning
Qualitative marketing research - generally used for exploratory
purposes - small number of respondents - not generalizable to the
whole population - statistical significance and confidence not
calculated - examples include focus groups, in-depth interviews, and
projective techniques
Quantitative marketing research - generally used to draw conclusions
- tests a specific hypothesis - uses random sampling techniques so as to
infer from the sample to the population - involves a large number of
respondents - examples include surveys and questionnaires.
Techniques include choice modelling, maximum difference preference
scaling, and covariance analysis.
11. 2. Based on observations
•Ethnographic studies - by nature qualitative, the researcher observes social
phenomena in their natural setting - observations can occur cross-sectionally
(observations made at one time) or longitudinally (observations occur over
several time-periods) - examples include product-use analysis and computer
cookie traces. See also Ethnography and Observational techniques.
•Experimental techniques - by nature quantitative, the researcher creates a
quasi-artificial environment to try to control spurious factors, then
manipulates at least one of the variables - examples include purchase
laboratories and test markets
12. A Classification of Marketing Research
Problem-Identification Research
• Research undertaken to help identify problems which are
not necessarily apparent on the surface and yet exist or
are likely to arise in the future. Examples: market
potential, market share, image, market characteristics,
sales analysis, forecasting, and trends research.
Problem-Solving Research
• Research undertaken to help solve specific marketing
problems. Examples: segmentation, product, pricing,
promotion, and distribution research.
13. A Classification of Marketing Research
Marketing Research
Problem
Identification Research
Problem-Solving
Research
Market Potential Research
Market Share Research
Market Characteristics
Research
Sales Analysis Research
Forecasting Research
Business Trends Research
Segmentation Research
Product Research
Pricing Research
Promotion Research
Distribution Research
14. Marketing Research Process
Step 1: Defining the Problem
Step 2: Developing an Approach to the Problem
Step 3: Formulating a Research Design
Step 4: Doing Field Work or Collecting Data
Step 5: Preparing and Analyzing Data
Step 6: Preparing and Presenting the Report
15. The Role of Marketing Research
Controllable
Marketing
• Product
• Pricing
• Promotion
• Distribution
Variables
Marketing
Research
Marketing
Decision
Making
Providing
Information
Assessing
Information
Needs
Marketing Managers
• Market Segmentation
• Performance & Control
• Target Market Selection
• Marketing Programs
Uncontrollable
Environmental
Factors
• Economy
• Technology
• Laws &
Regulations
• Social & Cultural
Factors
• Political Factors
• Consumers
• Employees
• Shareholders
• Suppliers
Customer Groups
16. • Know what you’re talking about
– What’s your product?
– Who are you selling to in existing
markets?
• Look for answers to specific questions
– But don’t always expect specific answers
• Not everything can be found on the
Internet
Keys to Successful Marketing
Research
17. Demand Forecasting
• “The total market demand is the total volume
of a product or service that would be bought
by a defined consumer group in a defined
geographic area, in a defined time period in a
defined marketing environment under a
defined level and mix of industry marketing
effort.”
Kotler & Keller (2006)
18. Levels of Demand Forecasting
Forecasting of market demand is essential for effective marketing
and as illustrated below, demand is measured on a number of
levels.
Kotler & Keller : Ninety types of demand measurement (6 × 5 × 3)
19. The Measures of Market Demand
Potential
Market
Penetrated
Market
Target
Market
Available
Market
22. Types of demand
• The primary demand is the total
demand for all brands of product and
services (e.g. music downloads, MP3
players, mobile phones, laptops)
• The selective demand is a specific
demand for a given brand of product
(e.g. iTunes, iPod, iPhone, iMac etc.)
23. Estimating market demand
• Q= n x q x p
– Where
• Q = total market demand
• n = number of buyers in the market
• q = quantity purchased by an average buyer per
year
• p = price of an average unit
24. Forecasting future demand
• Environmental forecast
– Inflation, Unemployment, Interest rates, Consumer
spending and saving, Business investment,
Government expenditure.
• Industry forecast
– What is currently happening?
• Company sales forecast
– Buyers’ intentions, Composite of sales force
opinions, Expert opinion.
– Test market method.
– Time series analysis, Leading indicators, Statistical
demand analysis, Information analysis.
25. Estimating Future Demand
• Survey of Buyers’ Intentions
• Composite of Sales Force Opinions
• Expert Opinion
• Past-Sales Analysis
• Market-Test Method