Nature of Research

1. Market Research
Introduction
Prepared by: Mr. Joshua B. Laxa

2. The Nature of
Marketing
Research

3. What is Marketing Research?
Marketing Research is the function that links,
- the customer
- consumer, and
- public to the marketer
While Research is …

4. Research
- Comprises defining and redefining problems,
- Formulating hypothesis or suggested solutions
- Collecting, organizing and evaluating data
- Making deduction and reaching conclusion
- And last, carefully testing the conclusion to determine
whether they fit the formulation

5. Classification of Research
1.Basic Research
2.Applied Research

6. 1. Basic Research
Basic research, also called pure
research, fundamental research, basic science,
or pure science, is a type of scientific research with
the aim of improving scientific theories for better
understanding and prediction of natural or other
phenomena.

7. 2. Applied Research
Applied research is a type of
examination looking to find practical
solutions for existing problems

8. Problem Solving Research
• Segmentation Research
• Product Research
• Pricing Research
• Promotion Research
• Distribution Research

9. Problem Identification Research
• Market Potential Research
• Market Share Research
• Image Research
• Market Characteristic Research
• Forecasting Research
• Business Trend Research

10. Why market research
has evolved and
grown?

11. Answer:
- Managers are
separated from their
final consumer

12. Answer:
- Managers needs
information from
their final consumer

16. The role of marketing research in managerial
decision making is explained further using the
framework DECIDE model:
D – Define the marketing problem
E – Enumerate the controllable and uncontrollable decision factor
C – Collect relevant information
I – Identify the best alternative
D – Develop and implement a marketing plan
E – Evaluate the decision and the decision process

17. Types of Research

18. 1. Descriptive vs. Analytical
Descriptive
- Also known as Statistical Research
- Includes survey & facts
- What age group buying a particular brand
Analytical
- Use facts or the information already available.

19. 2. Applied vs. Fundamental
Applied Research – designed to solve practical problem of the modern world
Ex. Applied researchers may investigate ways to:
- improve agricultural crop production
- treat or cure a specific disease
- improve the energy efficiency of homes, offices or modes of
transportation

20. 2. Applied vs. Fundamental
Fundamental Research – driven by a scientist in a specific question. The
domain motivation is to expand Man’s knowledge, not to create or invent
something.
Ex. Basic science investigation probe for answers to questions such as:
- how did the universe begin?
- What are protons, neutrons and electrons composed of?
- What is the specific genetic code of the fruit fly?

21. 3. Qualitative and Quantitative
Quantitative Research – used to measure how many people feel, think or act in a
particular way.
Ex. Many vehicle used for collecting quantitative information but the most common
are on street or telephone.
Qualitative Research – Used to help us how people feel and why they feel as they do.
It is concerned with collecting in-debt information asking questions such as “why do
you say that”
Ex. Depth interviews or group discussion are two common methods used for
collecting qualitative information

22. 4. Conceptual vs. Empirical
Conceptual – related to some abstract ideas or theory. It is
generally used by philosopher and thinkers to develop new concepts
or to reinterpret existing ones.
Empirical – Relies on experience or observation alone, often
without due regard for system & theory.

23. Benefits of
Marketing
Research

24. Six Essential Benefit
1. Enhanced ability to make well-informed decisions
2. Provides a cost-effective opportunity to supplement a company’s internal training
3. Facilities a common knowledge bridge
4. Provides a specific starting point for people entering profession
5. Gives company an objective tool to help develop and promote employees
6. Assists researchers in understanding and differentiation between good research and
impartial research