Topic 1 an Introduction to MR

8/9/2019 Topic 1 an Introduction to MR

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An Introduction to MR

Topic 1


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Agenda

MR Industry Overview

Why MR? Why Important?

MR Easier or Tougher now?

What Can you Research?

MR Defined

Steps in the MR process

Summary


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The MR Industry

In India the MR industry is worth a few hundred

crores, say Rs. 600 cr.

Big players are ?

Worldwide the industry is worth several billion dollars India is small fry but growing very fast

Worldwide norm is 0.5-1.0 % of turnover

In India, if 0.25% were spent, Indian MR would be

worthR

s. 2500 crore! What does that tell you?


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Why MR?

Why is MR important?

Why should you learn MR?

Why should companies invest in MR?


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Why MR?

Why do men buy Barbie dolls while buying

Van Heusen shirts?


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Why MR?

Men spend a lot on the shirt

End up being a little guilty

Hence buy a Barbie doll for daughters!

Hence, retailers place Barbie dolls near

expensive shirts

Without analysis of data, would such a thing

be foretold or explained?

What if they have young sons?!


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Why MR?

Marketing management is all about making decisionsrelating to 4 Ps, STP and issues like market entry

Essentially, all management revolves arounddecision making

For any decision-making, information is vital

MR provides managers this info

Without this, managers will go by hunches

Does this happen now?

In God we trust, for the rest we need data


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Why MR?

MR helps marketers stay close to the consumer

There is a danger of losing touch with consumers

At Great Lakes, we have just 260students, so gettingfeedback is not a problem

P&G has a billion+ consumers worldwide Without MR, it would be impossible to keep in touch

The stunning success of the Koreans here

P&G actually tests their detergents with water from150 different countries!


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Why MR?

WithoutMR, it is impossible to get certain insights which may becrucial

Managers take better informed decisions

For example, my research with a German pharma major

Margo Sandal soap is another example Anil Ambani going for a brand makeover based on MR

It would be foolish/arrogant to take decisions without MR

ITC & Lintas set up Bharat Barometer to study ruralconsumers

Rural India is tough to know and the E-Choupals help ITChere

Why did the Tatas go in for a cheap car and not a 3-wheeler?


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Why MR?

They did some MR

Asked people why do you need a 4-

wheeler?

Answer was it will improve my marriage

prospects

Thus, emotional reasons were key, not

rational ones 3-wheeler was considered cheap


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Why MR?

You have two career choices MR vs. NoMR companies

In both, knowledge ofMR will come in useful

How?An MR career is very rewarding by the way

Lot of variety

Plus intellectual content quite high

Also, consulting jobs involve quite a bit ofMR

Hence, useful for you all


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Why MR?

Plus, at Great Lakes, special reason to learn MR

This is the empirical study

This course will help tremendously in the ES

The tools and techniques The application of the above in the project will be a

good practice match for the ES

Hence, listen carefully

Plus, instructor has unique insights thanks to greatProfs teaching him and doing tons of research projects


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MR Easier orTougher now?

Is MR easier to do now or harder?

Why?


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Certainly easier now

Many consumers own cell phones, phones,

cars, bikes, club memberships

Meaning what?

Also, companies nowadays no longer see MR

as a waste of money

First budget to be cut in a recession Now they see it as a necessary investment


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Plus, now MR companies are dime a dozen

Though quality is suspect sometimes

Statistical software is now sophisticated and

user-friendly e.g. SPSS Consumer literacy has shown dramatic

increase in the last 15-20 years

Net has come in as a major boon as a tool

Keeps changing everyday almost


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MR Easier orTougher?

However, consumer apathy has grown

Widespread disinterest and downright lying e.g. voter

opinion polls

PrannoyR

oy in 1984 started them Oftentimes, time is a constraint

HLL had how much time to react to P&Gs price cut?

MR possible?

Cavin Kare promos

Also, small companies lack the resources as MR is

expensive


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What Can You Research

What are some areas that you can do MR

on?


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What Can You Research

Thus, almost everything is researchable, tactical andstrategic

Thus, it should be What Can You Not Research?

MR is very important

Else, the company/industry is in bad shape Like the film industry

Vacuumiser, Contessa were big failures

Korean giants do assiduous MR

As does P&G, Levers

Not chance that they are successful Neemazol is an excellent example of rural MR


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MR Defined

So what then is MR?

How can it be defined?


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MR Defined

MR is the systematic and objective ID,

collection, analysis, dissemination and use of

info for marketing-related decision-making

Note that it is systematic and objective

It is thus different from Marketing Intelligence

What is this?


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MR Defined

MI is general, vague and usually done in-

house, with focus on competition by and large

Some authors use MI as part orMR

But MR is always systematic and objective, or

should be


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Steps in the MR Process

Defining the problem

Developing an approach to the problem

Just builds off first step

Research design The heart of the MR process

Data Collection

Data analysis

Report Presentation Feedback and Continue


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Steps in the MR Process

We are going to take a look in detail at

research design, data collection and analysis

How many of you know SPSS?


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Summary

In sum, MR is very important

Good MR should be the basis of your

decisions mostly

We shall take a look at some steps in detail

Documents

Topic 1 an Introduction to MR