Industrial Marketing Research, Marketing Intelligence & Decision Support System

Group I :

M. Owais Alam (8127)

Priya V.S. (8136)

Smita Sinha (8150)

Marketing Research is defined as the objective and systematic process of obtaining, analyzing and reporting of data (or information) for decision making in marketing.

Industrial Marketing Research

How it Differs From Consumer Marketing Research?

1. More reliance on secondary data, exploratory research and expert opinion in industrial research.

2. Understanding of technical factors is important for industrial marketing researcher.

3. Managers of industrial products companies generally perform less marketing research studies than the marketing managers of consumer product companies.

4. More emphasis is given to descriptive method in industrial marketing research compared to experimental and observational methods used for primary data collection.

Scope

1.Development of marketing potential

2. Market Share Analysis3.Sales analysis4.Forecasting5.Competitor Analysis6. Benchmarking7. New product

acceptance and potential

8. Business trend studies

Marketing Research Process

Identify the

problem/opportunity and

define researc

h objectiv

es

Develop the

research design

Collect the data

(orinformat

ion

Process and

analyze the data

Present the

research

findings or

reports

The first step in the marketing research process is to identify the marketing problem or opportunity accurately and define the objectives of marketing research.

1. Identifying the Problem (or Opportunity) & Defining Research

Problem

The industrial marketing researcher or the marketing research agency develops the research design, which basically indicates the procedure and the cost of conducting the research study.

2. Develop the Research Design or Plan

Decision areas in Research Design

Decision Areas ParticularsInformation type Prepare a list of

information required from research objectives

Sources of data Primary, secondary, commercial or combination

Research methods Observational, exploratory, descriptive or survey, experimental

Sampling plan Sampling unit, sample size, sampling procedure

Method of contacts Mail, telephone, or personal interview

 Data collection methods

Questionnaire, mechanical devices

Based on the research objectives, prepare a list of information required. For instance, if the research objectives are to obtain competitors’ information, the list of information shall include:

The list of competitors, their market share, major competitor’s strength etc.

Information Type

Sources of Data

• Primary Data Methods for

Data Collection: -

Observational - Exploratory - Survey - Experimental• Secondary Data

Survey Research Method• Most commonly used in B2B.

• Provides information on awareness,

attitudes, and business buying

behaviour.

• Data collection may be structured or

unstructured.

• Four possibilities of data collection :

- Structured Direct Interview

- Unstructured Direct Interview

- Delphi technique

- Indirect Interviews (Focus Group)

Sampling PlanThe sample is a part of population (or universe) which is selected to obtain the necessary information. Sampling plan consists of three main decisions : • Sampling Unit• Sample Size• Sampling procedure - Probability or Random Sampling (SRS & Systematic Sampling) - Non-probability Sampling (Judgment Sampling or Quota Sampling)

Data Collection Methods (Instruments)

• Questionnaires

• Mechanical Research

Instruments

Methods of Contact

• Mail Surveys

• Personal Interviews

• Telephone Interviewing

3. Collecting the DataThis phase is referred to as field work. It is expensive and problem oriented phase. In survey method, the types of problems are :• Not available are to be contacted again or replaced,• Some respondents may not cooperate as they may say they are too busy,• Some respondents may give biased or dishonest replies. • Some interviewers may be dishonest or biased.

4. Processing & Analysis of Data

• Editing• Coding • Classification -

Descriptive

- Numerical• Tabulation

Data Analysis

Descriptive Analysis

• Univariate Analysis• Bivariate Analysis• Multivariate Analysis - Multiple

Regression Analysis - Multi-discriminant Analysis - Inferential

Analysis

5. Presenting the Research Findings

Points to be kept in mind while making presentation :

1. The researcher should collect the information about the profile of the executives who would be interested in the research of the user company.

2. The major research findings should be relevant to the marketing research objectives.

3. The researcher should logically justify the choice of research method, data collection method, data analysis techniques, etc.

4. The researcher must not try to satisfy the personal likes or dislikes of the executives in the user company.

5. The research report should have clarity of thought and expression.

General Format of General Format of ReportReport1. Title Page

2. Table of Contents3. Executive Summary4. Introduction (or

Research Brief)5. Problem formulation and

Research Objectives6. Research Methodology7. Results (or Findings) of

the Research8. Conclusions and

Recommendations9. Appendix10. Bibliography

Industrial MarketingIntelligence System

• It provides relevant, accurate and timely information on continuous basis to the industrial marketing manager to make decisions.

• It gathers, stores, analyses, interprets, and disseminates relevant marketing information.

Components of MIS

• Marketing Research Studies

• Internal Information System

• Secondary Data Sources

Industrial Marketing Intelligence System 

Marketing

research

studies

Industrial

marketing

intelligence syste

m

Internal informa

tion system

Secondary data

sources

Decision

support

system

Marketing

strategy

development

Market

response

Components of DSS

• Data Base

• Decision Models

• Statistics

• Display

Decision Support System

Action Marketing Manager

Decision Models

Statistics

Data BaseDisplay

Environment

Questions Answers

Thank

You…