Mba ii rm unit-1.1_introduction evolution and emerging issues a

Mba ii rm unit-1.1_introduction evolution and emerging issues a

• 1.
  Course: MBA Subject: ResearchMethodology Unit-1.1 Introduction , Evolution and Emerging issues
• 2.
  Role of MarketingResearch • 1. To provide information to decision makers in the marketing department of an organization • 2. Types of decisions – 1. Strategic and 2. Tactical • 3. Strategic Decisions- Related to Segmentation of the Market, Target Market Selection, and Positioning of the Product • 4. Tactical decisions- Related to the 4 Ps of marketing – Product, Pricing, Promotion and Place (distribution)
• 3.
  Marketing Strategy Segmentation Target Market Selection Positioning Informationfor Marketing Decisions Marketing Plan Ps of Marketing PRODUCT PRICING PROMOTION PLACE LEVEL 1 (Strategic) LEVEL 2 (Tactical) Fig 1. The Role of Marketing Research
• 4.
  Marketing Information System •1. Information can come from multiple sources • 2.Two main sources are Marketing Intelligence and Marketing Research • 3.Marketing Intelligence - a continuous process, usually internally managed, based on published or otherwise available data, may be stored for future use • 4.Examples of Intelligence - Industry Data, Competitor’s Announcements • 5.Marketing Research - data collected for specific action or decision problem, focused, with a time and budget, done by external marketing research company or by company staff, usually with a written report and/or presentation to the study’s sponsor
• 5.
  Marketing Intelligence MarketingResearch Ongoing Process Project based on Information Gap Usually done in-house Mostly outsourced to M.R. Companies Not meant for immediate Action oriented action General purpose Very specific answers to questions Focus on competition, environment Focus on consumers, influencers, etc. Table 1: Marketing Intelligence versus Marketing Research
• 6.
  Who Does TheMarketing Research? • 1. Professional marketing research companies like ORG-MARG, IMRB, TN Sofres Mode, Gallup MBA. • 2. In-house marketing research department • 3. Company staff from marketing/sales/customer service departments Each of these has got advantages and disadvantages. What could they be?
• 7.
  Typical Applications ofMarketing Research 1. Segmentation Studies to identify consumer segments based on their demographic, psychographic or behavioral characteristics. 2. To evaluate specific product-markets/segments for the potential demand 3. Positioning Studies to study consumer perceptions regarding the brand being studied vis-à-vis competing brands 4. Concept Testing, or Product –related research 5. Pricing research to determine price perceptions and correct levels of prices 6. Distribution Research to determine convenience of shopping channels, availability of brands and point of purchase behavior 7. Advertising Research to test effectiveness of ads, media etc. This is only a broad listing of categories. Can you give some specific examples of marketing research applications ?
• 8.
  When To DoMarketing Research? 1. There is an information gap. 2. The cost of filling this gap is less than cost of a wrong decision. 3. The research will be completed in time to help in decision-making.
• 9.
  Limitations of MarketingResearch 1.It is not fool-proof, and involves some errors associated with measurement and interpretation of findings 2.Other inputs for decision-making which should be used along with M.R. are corporate policy, marketing goals, judgment, experience, intuition, and passion 3. The results of M.R. depend on the methodology used
• 10.
  Research Process • Amarketing research project starts with an information need. • It ends with an actionable report or presentation or both. • In between are various steps to ensure that the marketing research project achieves what it set out to do.
• 11.
  A diagrammatic representationof the Marketing Research Process 1. Information 4. Plan and do Need Felt Secondary Research 2. Define the 5. Plan and do Research Primary Research Objective 3. Design the 6. Tabulation Research and Analysis Methodology 7. Report Writing and Presentation 8. Marketing Action We will now consider each of these steps in detail
• 12.
  Types of Research 1.PrimaryResearch: • Primary research is information specifically collected for the marketing research being done. • Some common forms of primary data collection are personal or telephonic interviews with customers, retailers, mail surveys of respondents, focus group discussions, etc. 2. Secondary Research: • Secondary research is that which is available for reference to a researcher, but collected for some other purpose (not for the current marketing research) • Some common sources of secondary data are newspapers, magazines, the internet, and internal or external reports compiled or published by various organizations
• 13.
  Ethical Considerations inMarketing Research • Like every profession, marketing research has its own ethical code of conduct • Information collected for research purposes should not be used out of context • Confidential information should be used only by M.R. agency and the client. • Marketing Researcher should not be biased towards any conclusions, and should report accurately the findings of the research study • Respondent’s right to privacy and right not to participate in a study must be respected
• 14.
  Emerging Issues Marketing Researchusing the internet 1. It is possible to do online research using the internet, but its validity is not easy to establish, particularly in India 2. Online research can be done using email, HTML forms, or downloadable survey forms 3. Qualitative research can also be done through chat sessions as a substitute for focus groups. These days, voice chats are also be possible
• 15.
  Data Warehousing andData Mining 1. Data from various sources-scanners at supermarkets, surveys, billing information etc. can be stored on computer in a virtual warehouse. 2. This stored data can be examined (mined) for correlations, patterns of purchase, and used to design CRM initiatives to attract existing customers or target new customers for a given product. 3. Huge amounts of data are involved, and require hardware, specialized software, and creative and analytically skilled people to make use of it
• 16.
  DATA SOURCES Company Records Surveys OtherSources BUILD DATA WAREHOUSE DATA MINING Look for Patterns of Purchase, Behavior, Attitudes by analyzing data from WAREHOUSE Use the mined data to design marketing or communication campaigns Measure Results of the Campaign, and refine/repeat the process if needed Fig. 2. Using Data Warehousing and Data Mining
• 17.
  Reference • Marketing ResearchText & cases by Rajendra Nargundkar