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CHAPTER 5: MARKETING
RESEARCH
Presented by :-Inamdar pawar
Rahul Iyer
Priya Jain
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MARKETING RESEARCH
Marketing Research is the systematic
design of data collection, analysis,
and reporting of data and findings
relevant to a specific marketing
situation facing the company.
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MARKETING RESEARCH
PROCESS
1) Define Problem & research
objectives.
2) Develop the Research Plan3) Collect the Information
4) Analyze the Information
5) Present the Findings
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CHARACTERISTICS OF GOOD
MARKETING RESEARCH Research may have to overcome many
problems chief of which are:
1. Narrow Conception of MarketingResearch some managers view research asact finding without clearly defined problemsrather than information gathering
2. Uneven Caliber of Researchersmarketing research is not a clerical activity.
3. Late and Erroneous Resultsmanagersneed timely results that are accurate, takes timeand money.
4. Intellectual Differences - difference in
style between managers and researchers can getin the wa
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OVERCOMING PROBLEMS
Rely on:
1) The scientific method - helps objectivity
2) Research Creativity quality of
researcher. 3) Use of multiple methods helps
reliability 4) Interdependence of explicitmodel and data select data gathering
and research model best suited toanalyzing the problem.
Consider the cost versus the informationwhen marking marketing research
decisions. This is really a trade off.
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TYPES OF RESEARCH
Exploratoryyou do not have a preciseproblem formulation or do not know the problem.Mostly qualitative, lacks formal design. Shouldnot be used for decision-making. Secondary data,
experts, focus groups
Conclusive ResearchThese are used fordecision making. Does not show cause andeffect & you never know all the alternatives.
Descriptive (describes characteristics ofthing studies), Case History, statistical methods(set objectives, formal design, representativesample, quantitative data gathered and analyzed,
reliability).
Causal Research
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DATA SOURCES
Secondary Data
Focus Groups
Interviews
Experts
Knowledgeable Persons (Psych Tests) toget at underlying motivations
Surveys (Mail, Telephone, E-mail, Mall) Simulations
Case Histories
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DATA COLLECTION
Sampling:
Non-Probability convenience,quota, snowball, judgment, shoppingmall.
Probability Systematic datacollection process: simple random,
stratified, cluster, area, multi-stage,proportional
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DATA ANALYSIS
Descriptive Analysis
Cross Tabulations
Analysis of Variance (ANOVA)T-Test
Regression Analysis
Discriminant Analysis
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DEMAND MEASUREMENT
Potential Market set of consumers who
indicate a sufficient level of interest to
something offered in the marketplace
Available Market
consumers with interest,income, and access to a given product.
Qualified available Market consumers
with interest, income, access and qualificationto purchase a given product
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DEMAND MEASUREMENT
(Contd)
Target Market (served market). Targetmarket is the set of consumers that the firmwishes to go after with its marketing effort.
Penetrated Market
set of consumers
actually buying the firms product. If not satisfiedwith current sales, a firm can take actions gearedtoward affecting the target market, or thepotential market.
Market Demandnumber of units that will besold to a defined customer group in geographicarea for a defined period of time under a definedmarketing program. To modify demand seek toadjust any or all of the defined factors on which
the total volume is based.
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DEMAND MEASUREMENT
1. Market demand
2. Market forecast
3. Market potential4. Company demand
5. Company sales forecast
6. Company sales potential
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ESTIMATING CURRENT
DEMAND
Estimating current demand
1. Total market potential
2. Area market potential:
a) Market-buildup method
b) Multiple-factor index method
3. Estimating industry sales and market
sharesa) a) identifying competitors and estimating
their sales
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ESTIMATING FUTURE
DEMAND
Estimating Future Demand All
forecast are built upon three
information bases (1) what people
say they will do (2) what people do,
and (3) what people have done.
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ESTIMATING FUTURE
DEMAND (Contd)
Five main ways to assess future demand:
1) Survey of Buyer Intentionsdeterminewhat buyers are likely to do under certain conditions.
2) Composite of Sales Force Opinionasksales representatives to estimate their future sales and sumthe individual estimates to arrive at the firms forecast
3) Expert Opinion/Delphi Methodask theexperts what they think
4) Past-Sales Analysisuse time seriesanalysis, statistical demand analysis or econometricanalysis to predict.
5) Market Test Methodobserving what buyers
do in a test market & using information to project to widermarket.
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THANK YOU.