Marketing Research Process ppt

7/27/2019 Marketing Research Process ppt

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Marketing Research

Prof M. R. Suresh


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Common Views of Marketing

Research Gathering data from markets

Conducting customer surveys

Determining the needs of customers

Evaluating customer response to advertising

Testing products in the market place

Estimating the potential sales of product Gathering sales and market share data of

competitors


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Role of Marketing Research in

Managerial Decision MakingFour Stages of Market Planning Process

Situation analysis

Strategy development

Marketing program development

Implementation


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Situation AnalysisAnalysis of

Market environment

Market characteristics

Consumer behavior

Research Approaches

Organize information obtained from prior studies

(secondary)

Focus groups


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Strategy Development

Market Research Provides Information to

Assist Management With Three Critical

Decisions:

What business should we be in?

How will we compete?

What are the objectives for the business?


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Marketing Program Development

Representative Decisions that Draw on Marketing Research:

Segmentation decisions

Product decisions

Distribution decisions

Advertising and promotion decisions

Personal selling decisions

Price decisions

Branding decisions

Customer satisfaction decisions


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Implementation

Starts with decision to proceed with a new program or strategy

Set specific measurable objectives for all elements of marketing

program

Shift research focus to :

"Did the elements achieve their objectives?"

Should the marketing program be continued, discontinued, revised or

expanded?"


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P & G has came out with Rejuvenating Effects a gender specific toothpaste

targeting the female customers, who do 82% of the grocery shopping.

The flavor and package of the product was decided on the basis of the results

from a customer survey filled out by women.

Though the product is priced slightly higher than the other brands P & G hopes

to make women think about the toothpaste in the same light as skin care

lotions and shampoo.

How do you think Marketing Research has helped /

would help here?

P & G Luring Women with their

Feminine Toothpaste


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Marketing Research- A Few

Definitions

The systematic and objective identification,collection, analysis, and dissemination ofinformation for the purpose of assistingmanagement in decision-making

The systematic and objective search for

and analysis of information relevant to theidentification and solution of any problemin the field of marketing


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The function which links the consumer tothe marketer through-information used to

identify and define market opportunities,problems, generate, refine, evaluate,marketing actions, monitoring marketingperformances, and improve understanding

of marketing as a process Specification of information required to address

the above issues.

Design of method for collecting information

Manage and implement data collection process Analysis of results

Communication of results

A multidisciplinary field


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Exhibit -Role of Marketing

Research in the

Organization/BusinessOrganizational / Business

Decision Makers

Marketing Research

Marketing Decisions

Customer/Society

informs

influences


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Marketing Research process consistsof six broad steps

Problem identification and definition

Determination of information needs

Development of research plan/ design Data collection

Analysis and interpretation

Report writingEmphasis varies across organisations


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Marketing Research information

can help a marketing manager inthree ways

By indicating the existence of a

problem or opportunity By enabling him to define a marketing

problem more explicitly

By providing a basis for estimatingthe effects of alternative marketingdecisions


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Determining information needs

In most situations, it is possible to obtaindirect measures of effects which amanager wished to consider in decisionmaking (e.g. location of a milk booth)

Real life problems involve use of indirectmeasures (e.g. whether to launch a newproduct or not)

Use of indirect measures involveunderstanding relationships (e.g. is there arelationship between income and cheeseconsumption)


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Views of Marketing Managers

Absence of systematic method of doingMarketing Research

Marketing Research should aid strategic

thinking-not just collect data

Focus should be explanatory andpredictive

Strategic vision can develop withcontinuous availability of data

Organisational context of research is ofparamount importance.


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Managements complaints aboutresearchers are:

Research is not problem-oriented.It tends to provide a plethora of

facts, not actionable results.

Researchers are too involved with

techniques and they appear to bereluctant to get involved inmanagement problems.


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Research is slow, vague and ofquestionable validity.

Researchers can not communicate,they do not understand, and theydo not talk the language ofmanagement.


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Researchers have theircomplaints about management:

Management does not include researchin discussions of basic problems.Management tends to ask only for

specific information about parts ofproblems.

Management pays no more than lipservice to research and does not reallyunderstand or appreciate its value.


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Management does not allow

enough time for research. Theydraw preliminary conclusionsbased on early or incomplete

results.

Management relies more on

intuition and judgment than onresearch. Research is used as acrutch, not a tool.


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MARKETING RESEARCH PROCESS

Provides a systematic, planned approach to

the research project

Ensures all aspects of the research projectare consistent with each other

Overview of MR process: Why should we do research?

What research should be done?

Is it worth doing the research? How should research be designed to achieve

research objectives?

What will we do with the research?


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The Preliminary Stages of MR Process

Step 1: Research Purpose

Clarity critical, - to avoid failures

Research Purpose comprises a shared

understanding between manager and theresearcher of

1. Problems / opportunities to be

studiedproblems or opportunities anticipated

scope of the problems/possible reasons


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2. Decision alternatives to beevaluated- Alternatives

- Criteria for choice

- Timing / importance of decision

3. Research Users

- Decision makers

- Covert / overt purposes


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Step 2: Research Objective

Research objective is a statement in precise

terminology of what information isneeded

Has three components

Research question Specifies the information the decision

maker needs

Several questions for a purpose Relevant to the purpose

Helps research design


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Hypothesis

Is a possible answer to a researchquestion

Speculate on possible hypothesesNot a checklist. Opportunity to make

research question specific

Research Boundary


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Hypothesis Development

SourceTheoryManagement experienceExploratory research

Research Question Hypothesis

Research objective

Step 3: Estimating value of information

Researchpurpose

Research Design


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Principles of Marketing Research

Principle #1:

Attend to the timeliness and relevance of research

Principle #2: Define research objectives carefully and clearly

Principle #3:

Do not conduct research to support decisions already

made

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Marketing Research Process ppt