Basic Concepts of Mkt Res

8/14/2019 Basic Concepts of Mkt Res

1/25

Basic Concepts Of

Marketing Research

Dr. Rabi Narayan Subudhi

SRM, KIIT [email protected]


2/25

Mkt Res 2

Marketing Strategy& Plan

Marketing Strategy

is a plan that enables an organization tomake the best use of its resources to meet

marketing objective. Marketing Plan

is a formal document that specifies the

organizations resources, objectives,strategy and implementation and controlefforts in marketing a specific product.


3/25

Mkt Res 3

Marketing Concept & Research

Marketing Concept

is an organizational philosophy that

emphasizes determining customers needs first,and then coordinating all activities to satisfy

those needs.

Marketing Research

is the set oftechniques and principles for

systemically collecting, recording, analyzing

and interpreting data to aid marketing decision

makers.


4/25

Mkt Res 4

Basic Marketing Research

Principles

Marketing Research has three principles or

guidelines for generating information useful

to managers:

Attend to the timeliness and relevance of

research.

Define research objectives carefully and clearly.

Do not conduct research to support decisionsalready made.


5/25

Mkt Res 5

Marketing research applications:

basic or applied research

Basic research is conducted to generate

or create knowledge.

Applied Research is conducted to solve a

problem.


6/25

Mkt Res 6

Marketing Research Process: Steps

Justify the need for marketing research.

Define the research objective.

Identify data needs.

Identify data sources. Choose an appropriate research design and data

collection method.

Design the research instrument or form.

Identify the sample.

Collect data, including any relevant secondary data.

Analyze and interpret the data.

Present the research findings to decision makers


7/25

Mkt Res 7

Types of Mktg. Res.

Qualitative Research

is the collection analysis, and interpretation of

data that cannot be meaningfully quantified,

that is, summarized in the form of numbers.

Quantitative Research

is the collection of data that involves larger,more representative respondent samples and

the numerical calculation of results.


8/25

Mkt Res 8

Types of Mktg. Res. Cont.-2

Descriptive Research

is essentially to describe something; it is

intended to generate data describing the

composition and characteristics of relevant

groups of units such as customers, sales

people and market areas.


9/25

Mkt Res 9

Types of Mktg. Res. Contd. -3

Exploratory Research

helps investigators gain some initial insights

and may pave the way for further research.

Conclusive Research

helps investigators verify insights and select the

appropriate course of action.


10/25

Mkt Res 10

Research project

components

Exploratory research Conclusive research

a) Research purpose General: to generate

insights about a situation

Specific: to verify insights

and aid in selecting a course

of actionb) Data needs Vague Clear

c) Data sources Ill defined Well defined

d) Data collection form Open-ended, rough Usually structured

e) Sample Relatively small;

subjectively selected to

maximize generalization

of insights.

Relatively large; objectively

selected to permit

generalization of findings.

f) Data collection Flexible; no set Procedure Rigid: well laid-outProcedure

g) Data analysis Informal; typically non-

quantitative

Formal; typically

quantitative

h) Inferences/

Recommendations

More tentative than final

More final thantentative

More final than tentative


11/25

Mkt Res 11

Case Study Method:

The Case studymethod is an-depth examination

of a unit of interest. The unit can be a

customer, a store, salesperson, a firm, market

area, web-site and so on.

By virtue of its insight-generating potential, the

case study method is a useful form of

exploratory research.


12/25

Mkt Res 12

Data collection method

Observational Method: The observational method involves

human or mechanical observation of what

people actually do or what events take placeduring a buying or consumption situation.

Longitudinal Studies

are repeated-measurement studies, that collectdata over several periods in time.


13/25

Mkt Res 13

SCALES Nominal scale, numbers are no more than

labels and are used solely to identify differentcategories of responses.

Ordinal scale is more powerful than a nominalscale in that the numbers possess the property

of rank order. Interval scale has all the properties of an

ordinal scale, and the differences between

scale values can be meaningfully interpreted. Ratio scale possesses all the properties of aninterval scale, and the ratios of numbers onthese scales have meaningful interpretations.


14/25

f


15/25

Mkt Res 15

Develop a few questions to measure

(Res. project) variables/ attributes

First choice of consumers of Packaged water

Marital status of respondents

Annual Income of family

Relevance of malls, like Bigbazar (to the locals)Importance of price factor while buying Mobile, edible oil

Use of credit cards

Attitude (I)/ Preference (O) (fruit juice Vs soft drink) Newspaper popularity

Packaging [study on shape of a bottle for deodorant]

Selecting a Hospital


16/25

Mkt Res 16

Scaling Techniques

A. Comparative Scales

Paired comparison, Rank order, Constant

sum, Q-Sort

B. Non-Comparative scales

Continuous rating, Itemized rating (Likert,

Semantic differential, Staple scale)


17/25

Mkt Res 17

Comparative Scales 1. Paired comparison Scales: mostly for two

brands (on various attributes) or can be

extended to many brands on single attribute;[TOI vs Ind. Exp.]

2. Rank order scale: ranking several objects

on some criterion/ attribute; tooth paste brandson mouth fresheningeffect [1.close-up, 2..3]

3. Constant sum scale: giving weight to diff

attributes of an object; wts add up to constantsum [10/ 100 ..] eg. Soap dirt removal (.4), care (.2), price(.2), smell (.1), foam(.1)=1

4.QSort: very large number of objects(>60); to group them to 2/3


18/25

Mkt Res 18

Non-Comparative scales

Continuous rating (or Graphic rating) scale

Likert Scale(due to Rensis Likert) 5 point, degree ofagreement (strongly agree/ disagree), liking orchoice

Semantic differential 7 point with specific bi-polar

adjectives (like, warm cold, careful careless) Staple scale(due to Jan Stapel) unipolar 10 point scale, -5

to +5, without a neutral point (zero),to scale attitude/ attribute

consisting of single adjective in the middle of 10 point range

101


19/25

Mkt Res 19

Stapel Scale - example Prices of items available in Bigbazar

(respondents are asked to indicate how accurate/

inaccurate is the term [best price offered], describing

the object [Bigbazar], by putting a cross mark

Best price in market

5

4

3

2

1

-1

-2

-3

-4

-5

X

Accurate

Not accurate


20/25

Mkt Res 20

MR Project assignment:

Questionaire

1. Names (group members)*

2.Project Topic/ title *

3.Objectives (just in 3/4 lines)*

4.Res. Questions/ issues; Information need

5. Res. Plan/ methodology *Deadline: By Sunday evening (7 PM)


21/25

Mkt Res 21

A Graphic rating scale presents a continuum,

in the form of a straight line, along which a

theoretically infinite number of ratings are

possible.

Itemized rating scale has a set of distinct

response categories; any suggestion of an

attitude continuum underlying the categories isimplicit.


22/25

Mkt Res 22

A Comparative Rating Scale provides all

respondents with a common frame of

reference.

A Non-Comparative Rating Scale implicitly

permits respondents to use any frame of

reference, or even none at all.


23/25

Mkt Res 23

A Constant-sum scale has a natural starting

point (zero) and asks respondents to allocate a

given set of points amongst several attitude

objects.

A Paired-comparison rating scale consists of

a question seeking comparative evaluations of

two objects at a time.


24/25

Mkt Res 24

A Single-item scale attempts to measure

feelings through just one rating scale.

A Likert scale consists of a series of evaluative

statements (or items) concerning an attitude

object; respondents are asked to rate the object

on each statement (or item) using a five-point

agree-disagree scale.


25/25

Mkt Res 25

Semantic-differential scale is similar to the likert

scale in that it consists of a series of items to be rated

by respondents; how ever, the items are presented as

bipolar adjectival phrases or words that are placed asanchor labels of a seven category scale with no other

numerical or verbal labels.

Stapel scale is a variation of the semantic-differential

scale; however, each item consists of just one word orphrase, on which respondents rate the attitude object

using a ten-item scale with just numerical labels.

Documents

Basic Concepts of Mkt Res