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MARKETING RESEARCH
MARKETING RESEARCH
2
Marketing Research Focus Next Practices
Well KnownPractices
BestPractices
NextPractices
Market Perspective,Diversity,Ethics
Leadership,Intercultural Training,Global Perspectives
AmplifyWeak Signals
3
The Current Paradigm: Value = f (Internal Efficiency)
Suppliers The Firm Channel
SCM ERP CRM Quality Cycle time “Innovation”
4
Digital TV set
Digital Video Recorder
Digital Set-top BoxFlat Displays Tablet PC
PC
DVD
Stereo System Game Console
Cable TV
Satellite TV
Internet Video
Video Camera Cell Phone
Web TV
DigitalCamera
HDTV
CD Player
Multimedia Storage
Digital Broadcasting
Electronic ToysReality TV
PDA
PCTVInteractive TV
Pager
MP3 Player
Printers
Scanners
Digital Imaging System
Telematics
Laptop
Handheld
Video on demand
FAX
Home Networking
Digital Jukebox
WearableComputer
Emerging Entertainment Space in Marketing Research
5
Consumers and the Wellness Space?
Nutritional supplements
Health supplements
Herbal medicine Alternative
medicine
Nutraceuticals
CosmaceuticalsCosmetics
Beauty aids
Health foods Lifestyle
drugs Therapeutics
Ayurveda
Specialty clinics
Hospitals
Treatment centers
Health spa
Self care
Remote diagnostics
Minimally invasivetreatments
Pharma drugs
Medical devices
Fitness regimen
Remote consultation
Drug delivery
Genetic screening
Personalized medicine
Pharmacogenomics
Assisted Living
YogaSurgery
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New Marketing Research Space
Nutritional supplements
Health supplements
Herbal medicine Alternative
medicine
Nutraceuticals
CosmaceuticalsCosmetics
Beauty aids
Health foods Lifestyle
drugs Therapeutics
Ayurveda
Specialty clinics
Hospitals
Treatment centers
Health spa
Self care
Remote diagnostics
Minimally invasivetreatments
Pharma drugs
Medical devices
Fitness regimen
Remote consultation
Drug delivery
Genetic screening
Personalized medicine
Pharmacogenomics
Assisted Living
YogaSurgery
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Connectivity and Consumer Activism:
1. Information Access2. Global View3. Networked
(Individuals, Communities)4. Experimentation5. Activism
Impact onValue Creation?
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Connectivity
PatientAway Hospital
Your Doctor
Doctor onLocation
Experts’ Conference
Spouse
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Car as a Stand Alone Product or a Node in Seamless Connectivity?
High Capacity CC Node
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The Basic Transformation
Suppliers The Firm Channel
SCM ERP CRM
NodalFirm
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What is the Transformation?
1900 2000 2015
Undifferentiated Mass MarketVertically Integrated Firm
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The Meaning of research is Changing
Product Innovations
Customer Specific
Solutions
Customer Experiences:Co Creation
Pre 1995 1995 - 2001-
Customers
Customers
The wrong side of organization
The right-side of organization
Customer Driven Research
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Transformation of the Elements of Value Creation: DART
Value CreationSpace
Access
Dialogue
Risk-Benefits
Transparency
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Drivers of Innovation (Research)The Next Practices
The Future of Competition: Co Creation of Value
Glob
al Re
struc
turin
g
Of In
dustr
ies The Fortune at the
Bottom of the Pyram
id
Value Creation
Space
The systematic and objective identification, collection, analysis, dissemination,
and use of information, and use of information for the purpose of assisting management
in decision making r elated to the identification and solution of problems (and opportunities)
in marketing
Marketing Research
International Marketing Research has enabled IBM to
Introduce innovative new products and services such
the eServer
Business
Implicit Business Plan
Explicit Business Plan
Functional Areas
Marketing, finance, hr
Role of Marketing Research
Information for marketing decisions
Marketing Plan
Marketing Strategy
Level ISegmentation
Target MarketSelection
Positioning
ProductPricing
PromotionPlace
Process ManagementPhysical Appearance
Level 2
Lipton developed the cold brew blend when marketing research revealed that
consumers wanted an iced tea that could be brewed with cold water instead of boiling
Role of Marketing Research
Controllable Marketing Variables
ProductPricingPromotionDistribution
Customer GroupConsumersEmployeesShareholdersSuppliers
Marketing MangersMarket segmentation
Target Market SelectionMarketing Programs
Performance and control
Assessing Information needs
ProvidingInformation
Marketing Decision Making
Uncontrollable Environment
FactorsEconomy
CompetitionLaws and regulation
Social and cultural factorsPolitical factors
Marketing research helped Chrysler to Identify the minivan market and developand market products targeted at this segment
Application of Marketing Research
StrategicDemand forecasting
Sales forecastingSegmentation studies
Identification of target marketsPositioning strategies
TacticalProduct testingPricing research
Advertising researchPromotional research
Distribution and logistic related research
Classification of Marketing Research
Problem identification research
Market potential researchMarket share researchImage researchMarket characteristic researchSales analysis researchForecasting research
Problem solving research
Segmentation researchProduct researchPricing researchPromotion researchDistribution research
Marketing Research Process
Problem Definition
Development of an approach to the problem
Research design formulation
Fieldwork or Data collection
Data Preparation and Analysis
Report Preparation and Presentation
A correct definition of the marketing research problem and an appropriate
approach helped Harley Davidson to make the right decision to invest in its
production facilities
Research Design
Definition of the information needed
Secondary data analysis
Qualitative research
Collecting Quantitative data
Questionnaire design
Sampling process
Plan of data analysis
Exploratory
DescriptiveResearch
Research Design
Causal Research
Conclusive Research
Cross-sectionalDesign
LongitudinalDesign
Single cross-sectional
MultipleCross-Sectional
Design
Exploratory ConclusiveObjective To provide insights and
understandingTo test specific hypotheses and examine relationship
Characteristics Information needed is defined only loosely
Research process is flexible and unstructured.
Sample is non-representatives.
Analysis of primary data is qualitative
To test specific hypotheses and examine relationship
Information needed is clearly defined
Research process is formal and structured.Data analysis is quantitative.
Sample is large and representative.
Findings used as input into decision making
Findings/Results TentativeOutcome Generally followed by further
exploratory or conclusive research
Difference between exploratory and conclusive research
Exploratory research followed by conclusive research helped Starbucks realize that the environment was an
important cause influencing consumers’ perceptions of companies and brands
A comparison of basic research design
Exploratory Descriptive CausalObjective Discover ideas and
insightsDescribe market characteristics or functions
Determine cause and effect relationships
Characteristics FlexibleVersatileOften the front end of total research design
Marked by the prior formulation of specific hypotheses
Prepared and structured design
Manipulation of one or more independent variables
Control of other mediating variables
Methods Expert surveysSecondary dataPilot surveysQualitative research
Secondary dataSurveysPanelsObservation and other data
Experiment
Vedio
City bank makes use of exploratory,Descriptive and causal research in Designing its marketing programme
Types of exploratory studies
Literature surveyExperience survey
Focus groupsAnalysis of selected case
Cross Sectional Design
A type of research design involving the collection of informationfrom any given sample of population elements only once.
Single cross sectional design in which one sample of respondent is drawn from the target population and information is obtained from this sample
once
Multiple cross sectional design:- A cross-sectional design in which there are two or more samples of respondents and information from each sample is
obtained only once
By using cross-sectional and longitudinal surveys, McDonald’s has determined what apples to European youth and positioned itself accordingly
Longitudinal Design
A type of research design involving a fixed sample of population
elements that is measured repeatedly. The sample remains the same
Causal research in the form of an
Experiment helped MeadWestvaco
determine the effectiveness of a new
merchandising display system
Report Preparation and Presentation Process
Problem definition, approach, research design and field work
Data analysis
Interpretation, conclusion and recommendation
Report preparation
Oral presentation
Reading of the report by client
Research Follow- UP
Marketing Research can help departmentStores such Sears to determine relative
strength and weakness and improveCompetitive positioning
Marketing IntelligenceOngoing processUsually done in-houseNot meat for immediate actionGeneral purposeFocus on competition, environment
Marketing ResearchProject based informationMostly outsourcedAction orientedVery specific answers to questionsFocus on consumers, influences etc
Market research company : IMRB, ORG-MARG, TN Sofres, MODE, Gallup-MBA
Market Information system (MIS)
A formalized set of procedures for generating, analyzingStoring, and distributing pertinent information to marketing
decision makers on an Ongoing basis
Decision support system (DSS)
Information system that enable decision makers to interact directlyWith both database and analysis models.
The important components include hardware and communication networkDatabase, model base, model base and the DSS User
Data system Model system
Dialog system
Information
Components of Decision Support System (DSS)
Ongoing marketing research, which Become a part of its DSS, has enabled
FedEx to adopt an aggressiveInformation oriented approach
to competition
Data Collection
Primary and Secondary
Analysis of secondary data and subsequent Research led Vans,Inc.to open large skate parks that have been very successful
A sound approach ,graphical model, research Question Hypotheses, and specification of
Information needed helped United Airlines to Discover the importance of food to
airline customer
Major Qualitative Techniques
Depth InterviewFocus Group
Projective Technique
Projective Technique
Vague stimulus that an individual is asked to describe
Word
Sentence
Storytelling
Story telling
Reactions
Focus Group - Discussions
