The document summarizes the MR process, which involves four main steps:
1) Problem identification and definition, which involves understanding the management problem and defining the specific MR problem through discussions with stakeholders and qualitative research.
2) Developing hypotheses to guide the study and assign variables. Hypotheses can be descriptive or relational.
3) A case study is presented on Tennis Magazine conducting MR to understand its readers and make changes to appeal to them more.
4) Specific components of the MR problem are defined, such as demographics, lifestyles, tennis activity, and relationship to the magazine.
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From 'Ritual Serial Killer' to International Playgirl and meager beginnings to private jet-setting, Zaydee is not only capturing hearts but is a force to be reckoned with. Though toting a string of male and female conquests, there's only one man who has captivated her heart. The lucky soul? Steven Larson. An honest, noble journalist, who, at the risk of losing his own life, will expose the truth, the whole truth and nothing but the truth of some powerful beings, untouchable, even by the government. A path of danger hovers over him as he nears the truth, but Zaydee is determined to keep the love of her life safe while 'anonymously' giving him secrets that will be the greatest exposé of his career yet. With a seemingly endless supply of money, high-tech devices and hactavists that could take down a nation, she'll stop at nothing to take down the most powerful secret society in the world and rise as the head of a new nation. A new nation in which women rule the world! Hold on to your seatbelts, you're about to be taken to places you've never imagined...
Marketing Research & Analytics
Definition
Importance
Purpose
limitations
Applications of MR
Types of research
Scope of MR
Benefits of MR
MR is a Management tool
Marketing Intelligence (MI)
Importance of MI
Need for MI
Types of MI
Difference between MI and MR
Conjoint analysis in marketing
Gut instinct doesn't cut it. Feeling works for romance novels. Your hunches and guesstimates carry zero weight. Only solid data earns a seat at the boardroom table. How would you like your research prepared? Qualitative, quantitative or mixed method? Primary or secondary? Basic or applied? There are so many choices. What is the best way to proceed?
Marketing Research & Analytics
Definition
Importance
Purpose
limitations
Applications of MR
Types of research
Scope of MR
Benefits of MR
MR is a Management tool
Marketing Intelligence (MI)
Importance of MI
Need for MI
Types of MI
Difference between MI and MR
Conjoint analysis in marketing
Gut instinct doesn't cut it. Feeling works for romance novels. Your hunches and guesstimates carry zero weight. Only solid data earns a seat at the boardroom table. How would you like your research prepared? Qualitative, quantitative or mixed method? Primary or secondary? Basic or applied? There are so many choices. What is the best way to proceed?
4. Problem Identification/ Definition
• Tasks:
1. Discussions with the DMs., industry experts, analysis
of secondary data and qualitative research.
- to understand the background of the problem by
analyzing the environmental context.
1. Management decision problem and MR problem
2. Approach to the problem
• Objectives, analytical models, RQs., hypotheses,
information needed
1. Research Design
5. Mgmt problem & MR problem
• Should a new product be • To determine consumer
introduced? preferences & purchase
intentions for the proposed
new product.
• To determine the
• Should be advertising
effectiveness of the current
campaign be changed?
advertising campaign
• Should the price be increased?
• To determine the price
elasticity of demand & the
impact on sales & profits of
various price levels
6. Case: Tennis Magazine
• Tennis magazine, a publication of the New York Times co.,
wanted to obtain information about its readers. Though
there were only 7,00,000 subscribers, the magazine had a
readership of 1.6 million in 2003. they hired Signet
Research, independent research company to conduct MR.
the management decision problem was what changes
should be made in Tennis magazine to make it more
appealing to its readers.
7. Case: Tennis Magazine
• The broad MR problem was defined as gathering information
about the subscribers of Tennis magazine. Specific components
of the problem included:
– Demographics: who are the men and women who subscribe to the
magazine?
– Psychological characteristics & Lifestyles: how did the subscribers spend
their money and their free time? Lifestyle indicators to be examined were:
fitness, travel, car rental, apparel, consumer electronics, credit cards and
financial investments.
– Tennis Activity: where and how often do subscribers play tennis? What
are their skill levels?
– Relationship to tennis magazine: how much time do they spend with the
issues? How long do they keep them? Do they share their magazine with
other tennis players?
8. Hypothesis
• A proposition formulated for empirical testing.
• It is tentative in nature
• Statement which assigns variables to cases
• Guides the direction of the study
• 3 conditions
– Adequate for its purpose
– Testable
– Better than other hypotheses
9. Hypothesis
• Types:
– Descriptive
• Propositions which state the existence, size, form or
distribution of some variable.
– E.g.:
» The current literacy rate in Gujarat is 67.4%
» Do kids prefer Cartoon Network over Jetix?
– Relational
• Statements that describe a relationship between two
variables w.r.t. some case
10. Hypothesis
• Types:
– Relational
• Statements that describe a relationship between two
variables w.r.t. some case
– E.G.:
» Foreign banks are considered to be more efficient than
Indian banks (Correlational)
» Increase in disposable income leads to increase in
spending on entertainment & leisure (Causal)