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Chapter One
Introduction to Marketing Research
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Definition of Marketing Research
Marketing research is the systematic and objective
identification
collection
analysis
dissemination and use of information
for the purpose of improving decision making related to
the
identification and
solution of problems and opportunities in
marketing.
(Naresh Malhotra)
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What is Business Research?
A systematic Inquiry whoseobjective is to provide informationto solve managerial problems.
(Cooper)
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Systematic
1. OrderlinessEx. Sensex at 11 a.m.
-Ex.70 % of survey is done onSaturday and 30 % of survey
on other days of week
2. Impartiality- Ex. Juniors Vs. seniors
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Why Study Research?
Research provides you with theknowledge and skills needed forthe fast-paced decision-makingenvironment
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Factors stimulate scientific approachto decision making
Managers increased need for moreand better information
The availability of improvedtechniques and tools to meet theseneed
Information overload if discipline isnot employed
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Need of Better Information
Global and domestic competition ismore vigorous
Explosive technology growth
Innovation in communication
Trade communication
More variables to consider Question of quality of information
and not quantity of information
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Need of Acquiring Research Skills
To gather more information beforeselecting a course of action
Ex. Dissatisfied customer toldby sales personnel
To do a research study for high-
level executives
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continue..
To understand research design
Ex. Evaluate the proposal from agency
To evaluate and resolve a current
management dilemmaEx. Analyze the past data of organization
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Different Styles of Research
Pure Research/Basic Research:is intended to expand the body ofknowledge in a field or to provide
knowledge for the use of others.Applied Research: is carried on for
the solving of a particular problem
or for guiding a specific decisionand usually its results are private.
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Classification of Marketing Research
Problem/Opportunity Identification Research Research undertaken to help identify problems/
opportunities which are not necessarily apparent on thesurface and yet exist or are likely to arise in the future.Examples: market potential, market share, image,
market characteristics, sales analysis, forecasting, andtrends research.
Problem Solving Research Research undertaken to help solve specific marketing
problems. Examples: segmentation, product, pricing,promotion, and distribution research.
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A Classification of Marketing Research
Marketing Research
Problem/ OpportunityIdentification Research
Problem Solving
Research
Market Potential Research
Market Share ResearchMarket Characteristics ResearchSales Analysis ResearchForecasting Research
Business Trends ResearchControlling & Monitoring
Segmentation ResearchProduct Research
Pricing Research
Promotion Research
Distribution Research
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Problem Solving Research
Determine the basis of segmentation
Establish market potential and
responsiveness for various
segments
Select target markets
Create lifestyle profiles:
demography, media, and
product image characteristics
SEGMENTATION RESEARCH
Determine optimal product design
Package tests
Product modification
Brand positioning and
repositioning
Test marketing
PRODUCT RESEARCH
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Problem Solving Research
PRICING RESEARCH
Pricing policies
Importance of price in brand selection
Product line pricing
Price elasticity of demand
Initiating and responding to price changes
SALE
PROMOTIONAL RESEARCH
Sales promotion relationship
Optimal promotional mix
Copy decisions
Media decisions
Creative advertising testing
Evaluation of advertising effectiveness
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Problem Solving Research
DISTRIBUTION RESEARCH
Determine
Types of distribution
Attitudes of channel members
Intensity of wholesale & resale coverage
Channel margins
Location of retail and wholesale outlets
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Marketing Research Process
Step 1: Problem Definition
Step 2: Development of an Approach to
the Problem: Information
needed,sources of information
Step 3: Research Design Formulation
Step 4: Fieldwork or Data Collection
Step 5: Data Preparation and Analysis
Step 6: Report Preparation and
Presentation
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Characteristics of Good Research?
Purpose clearly defined
Research process detailed
Research design thoroughlyplanned
Limitations frankly revealed
High ethical standards applied
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Characteristics Good Research? (cont.)
Adequate analysis for decision-makers needs
Findings presentedunambiguously
Conclusions justified
Researchers experiencereflected
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The Manager-ResearcherRelationship
Managers obligations Specify problems clearly
Provide adequate background information
Access to company information gatekeepers
Mention time duration and budget Researchers obligations
Develop a creative research design
Provide answers to important business questions
Honesty
Consider time and cost
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Manager-Researcher Conflicts
Managements limited exposure toresearch
Manager sees researcher as threat
to personal status Researcher has to consider
corporate culture and political
situations Researchers isolation from
managers
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When Primary Research Should be Avoided
When information cannot be applied to acritical managerial decision Ex. Long termFinancial planning, plant location study
When managerial decision involves little risk
When management has insufficientresources to conduct a study
When the cost of the study/Researchoutweighs the level of risk of the decision
Un-researchable question Ex. Shouldpension be given in your organization?
When research is Politically motivated
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The Role of Marketing Research
Controllable
Marketing
Product
Pricing
Promotion
Distribution
Variables
MarketingResearch
MarketingDecisionMaking
ProvidingInformation
AssessingInformation
Needs
Marketing Managers
Market Segmentation
Performance & Control
Target Market Selection
Marketing Programs
Uncontrollable
Environmental
Factors
EconomyTechnology
Laws &Regulations
Social & CulturalFactors
Political Factors
Customer Groups
Employees
ShareholdersSuppliers
Consumers
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Marketing Research Suppliers & Services
Internal suppliers External suppliers
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Criteria for Selecting a Research Supplier
What is the reputation of the supplier?
Do they complete projects on schedule?
Are they known for maintaining ethical standards?
Are they flexible?
Are their research projects of high quality?
What kind and how much experience does the supplierhave? Has the firm had experience with projects similarto this one?
Do the supplier's personnel have both technical and non-
technical expertise? Can they communicate well with the client?
Competitive bids should be obtained and compared onthe basis of quality as well as price.