Market Research Applications Lecture 1
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Transcript of Market Research Applications Lecture 1
Market Research Applications
Course Content
•Role and value of market research in marketing framework
•Data analysis – Tabulation, SPSS applications data base, testing for association
•Multivariate techniques – Interdependence techniques: Factor / cluster analysis; dependence analysis: discriminate analysis; combination with cluster analysis; conjoint analysis. •Perceptual mapping applications in market research
Course Content •Applications of MR in consumer research, advertising,
test marketing, Usage attitude studies, Television viewer ship surveys; Media effectiveness study; Annual readership survey of print media etc.
•Report preparation and presentation; interpretation of MR reports; how to read ORG Nielson's store audit report.
•Brand tracking study •Field project on market research on any functional / industry verticals Case Studies and Presentation.
Reference Text
• Marketing Research —Hair, Bush, Ortinau (2nd edition Tata McGraw Hill)
• Marketing Research Text & Cases — (Wrenn, Stevens, Loudon Jaico publication) • Marketing Research Essentials — Mc Daniels & Gates (3rd edition SW college Publication) • Marketing Research — Aaker, Kumar, Day (7th edition John Wiley & Sons) • Marketing Research - Burns , Alvin, Bush Ronald (3rd Prentice Hall) • Raiendra Nargundkar- Marketing Research (Tata McGraw)
• Marketing Research An Applied Orientation (Malhotra & Dash)
• S L Gupta Marketing Research (Excel Books)
50 Marks30- External20- Internal (Presentation)
Overview
Meaning of ResearchTypes of Research Design
Research ProcessHypothesis Testing
How To Select A Statistical Test
Activity
Write ten good points about the person sitting next to you.
Which firm you want to join and why?
Introduction
WHAT IS RESEARCH?
Introduction
The word research is composed of two syllables, re and search
The dictionary defines re as a prefix meaning again, a new or over again search as a verb meaning to examine closely and carefully, to test and try or to probe.
Together they form a noun describing a careful, systematic, patient study and investigation in some field of knowledge, undertaken to establish facts or principles. (Grinnell 1934)
Introduction
Research is:“…the systematic process of collecting and analyzing information (data) in order to increase our understanding of the phenomenon about which we are concerned or interested.”
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• Three traditional categories of research design:
• Exploratory• Descriptive• Causal/Experimental• The choice of the most appropriate design depends largely on the objectives of the research and how much is known about the problem and these objectives.
TYPES OF RESEARCH DESIGNS
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Research Design: Some Observations
• The overall research design for a project may include one or more of these three designs as part(s) of it.
• Further, if more than one design is to be used, typically we progress from Exploratory toward Causal.
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Uncertainty Influences The Type Of Research
COMPLETELYCERTAIN
ABSOLUTEAMBIGUITY
CAUSAL ORDESCRIPTIVE
EXPLORATORY
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Research Design: Exploratory Research
• Exploratory research is most commonly unstructured, “informal” research that is undertaken to gain background information about the general nature of the research problem.
• Exploratory research is usually conducted when the researcher does not know much about the problem and needs additional information or desires new or more recent information.
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Research Design: Exploratory Research
Exploratory research is used in a number of situations:
• To gain background information• To define terms• To clarify problems and hypotheses• To establish research priorities
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• Descriptive research is undertaken to provide answers to questions of who, what, where, when, and how – but not why.
• Two basic classifications:• Cross-sectional studies • Longitudinal studies
Research Design: Descriptive Research
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Research Design: Causal/Experimental Research
• Causality may be thought of as understanding a phenomenon in terms of conditional statements of the form “If x, then y.”
• Causal relationships are typically determined by the use of experiments, but other methods are also used.
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Experiments• An experiment is defined as a research process that allows study of one or more variables which can be manipulated under conditions that permits collection of data that show the effect of such variables in unconfused fashion
• Independent variables: those over which the researcher has control and wishes to manipulate i.e. package size, ad copy, price.
• Dependent variables: those over which the researcher has little to no direct control, but has a strong interest in testing i.e. sales, profit, market share.
• Extraneous variables: those that may effect a dependent variable but are not independent variables.
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Degree of Problem Definition
Exploratory Research (Unaware of Problem)
Descriptive Research (Aware of Problem)
Causal Research(Problem Clearly Define)
Our sales are declining and we don’t know why? “
What kind of people are buying our product?
Will buyers purchase of the product in new package?
Example: Parle Kismi Bar
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Basic Research Objectives & Research Design
Research Objective Appropriate Design
To gain background information, to define terms, to clarify problems and develop hypotheses, to establish research priorities, to develop questions to be answered
Exploratory
To describe and measure marketing phenomena at a point in time
Descriptive
To determine causality, test hypotheses, to make “if-then” statements, to answer questions
Causal/Experimental
TYPES OF RESEARCH DESIGNS
Research Design
Exploratory Studies
Literature Search
Experience Survey
Focus Group
Analysis of Selected Cases
Descriptive Studies
Longitudinal Cross- Sectional
Causal Design
/Experiment
Example
Believe for an Indian Shopper The Shopper is a woman; she shops alone
8 Myths
Research ProcessFormulating a Research Problem
Conceptualizing a Research Design
Constructing an instrument for data collection
Selecting a Sample
Collecting Data
Processing Data
Interpreting and Report writing
Hypothesis TestingStep 1: Set null and a alternative hypothesis
Step 2: Determine the appropriate statistical test
Step 3: Set the level of significance
Step 4: Set the decision rule
Step5: Collect the Sample Data
Step6: Processing Data
Step 7 : Arrive at a statistical conclusion and business implication
How to Select the Statistical Test
How to Select the Statistical Test
DataSamplePurpose