Marketing Research Process ppt
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Transcript of Marketing Research Process ppt
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Marketing Research
Prof M. R. Suresh
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Common Views of Marketing
Research Gathering data from markets
Conducting customer surveys
Determining the needs of customers
Evaluating customer response to advertising
Testing products in the market place
Estimating the potential sales of product Gathering sales and market share data of
competitors
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Role of Marketing Research in
Managerial Decision MakingFour Stages of Market Planning Process
Situation analysis
Strategy development
Marketing program development
Implementation
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Situation AnalysisAnalysis of
Market environment
Market characteristics
Consumer behavior
Research Approaches
Organize information obtained from prior studies
(secondary)
Focus groups
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Strategy Development
Market Research Provides Information to
Assist Management With Three Critical
Decisions:
What business should we be in?
How will we compete?
What are the objectives for the business?
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Marketing Program Development
Representative Decisions that Draw on Marketing Research:
Segmentation decisions
Product decisions
Distribution decisions
Advertising and promotion decisions
Personal selling decisions
Price decisions
Branding decisions
Customer satisfaction decisions
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Implementation
Starts with decision to proceed with a new program or strategy
Set specific measurable objectives for all elements of marketing
program
Shift research focus to :
"Did the elements achieve their objectives?"
Should the marketing program be continued, discontinued, revised or
expanded?"
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P & G has came out with Rejuvenating Effects a gender specific toothpaste
targeting the female customers, who do 82% of the grocery shopping.
The flavor and package of the product was decided on the basis of the results
from a customer survey filled out by women.
Though the product is priced slightly higher than the other brands P & G hopes
to make women think about the toothpaste in the same light as skin care
lotions and shampoo.
How do you think Marketing Research has helped /
would help here?
P & G Luring Women with their
Feminine Toothpaste
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Marketing Research- A Few
Definitions
The systematic and objective identification,collection, analysis, and dissemination ofinformation for the purpose of assistingmanagement in decision-making
The systematic and objective search for
and analysis of information relevant to theidentification and solution of any problemin the field of marketing
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The function which links the consumer tothe marketer through-information used to
identify and define market opportunities,problems, generate, refine, evaluate,marketing actions, monitoring marketingperformances, and improve understanding
of marketing as a process Specification of information required to address
the above issues.
Design of method for collecting information
Manage and implement data collection process Analysis of results
Communication of results
A multidisciplinary field
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Exhibit -Role of Marketing
Research in the
Organization/BusinessOrganizational / Business
Decision Makers
Marketing Research
Marketing Decisions
Customer/Society
informs
influences
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Marketing Research process consistsof six broad steps
Problem identification and definition
Determination of information needs
Development of research plan/ design Data collection
Analysis and interpretation
Report writingEmphasis varies across organisations
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Marketing Research information
can help a marketing manager inthree ways
By indicating the existence of a
problem or opportunity By enabling him to define a marketing
problem more explicitly
By providing a basis for estimatingthe effects of alternative marketingdecisions
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Determining information needs
In most situations, it is possible to obtaindirect measures of effects which amanager wished to consider in decisionmaking (e.g. location of a milk booth)
Real life problems involve use of indirectmeasures (e.g. whether to launch a newproduct or not)
Use of indirect measures involveunderstanding relationships (e.g. is there arelationship between income and cheeseconsumption)
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Views of Marketing Managers
Absence of systematic method of doingMarketing Research
Marketing Research should aid strategic
thinking-not just collect data
Focus should be explanatory andpredictive
Strategic vision can develop withcontinuous availability of data
Organisational context of research is ofparamount importance.
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Managements complaints aboutresearchers are:
Research is not problem-oriented.It tends to provide a plethora of
facts, not actionable results.
Researchers are too involved with
techniques and they appear to bereluctant to get involved inmanagement problems.
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Research is slow, vague and ofquestionable validity.
Researchers can not communicate,they do not understand, and theydo not talk the language ofmanagement.
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Researchers have theircomplaints about management:
Management does not include researchin discussions of basic problems.Management tends to ask only for
specific information about parts ofproblems.
Management pays no more than lipservice to research and does not reallyunderstand or appreciate its value.
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Management does not allow
enough time for research. Theydraw preliminary conclusionsbased on early or incomplete
results.
Management relies more on
intuition and judgment than onresearch. Research is used as acrutch, not a tool.
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MARKETING RESEARCH PROCESS
Provides a systematic, planned approach to
the research project
Ensures all aspects of the research projectare consistent with each other
Overview of MR process: Why should we do research?
What research should be done?
Is it worth doing the research? How should research be designed to achieve
research objectives?
What will we do with the research?
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The Preliminary Stages of MR Process
Step 1: Research Purpose
Clarity critical, - to avoid failures
Research Purpose comprises a shared
understanding between manager and theresearcher of
1. Problems / opportunities to be
studiedproblems or opportunities anticipated
scope of the problems/possible reasons
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2. Decision alternatives to beevaluated- Alternatives
- Criteria for choice
- Timing / importance of decision
3. Research Users
- Decision makers
- Covert / overt purposes
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Step 2: Research Objective
Research objective is a statement in precise
terminology of what information isneeded
Has three components
Research question Specifies the information the decision
maker needs
Several questions for a purpose Relevant to the purpose
Helps research design
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Hypothesis
Is a possible answer to a researchquestion
Speculate on possible hypothesesNot a checklist. Opportunity to make
research question specific
Research Boundary
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Hypothesis Development
SourceTheoryManagement experienceExploratory research
Research Question Hypothesis
Research objective
Step 3: Estimating value of information
Researchpurpose
Research Design
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Principles of Marketing Research
Principle #1:
Attend to the timeliness and relevance of research
Principle #2: Define research objectives carefully and clearly
Principle #3:
Do not conduct research to support decisions already
made