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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.