Marketing Research

Presented by,Saneem Nazim,S4 MBA,Roll No: 12CHMM College

“Marketing research is the systematic gathering, recording and analyzing of the data about the marketing problems towards the end of providing information useful in marketing decision making.”

-Still and Cundiff

Definition

Research includes:

Sales research

Product research

Advertising research

Motivation research

Service marketing research

Micro environmental research

Product ResearchProduct market research serves several goals: new

product design and market validation research, or assessing existing product strength and line extension potential.

Concept TestingConcept testing research evaluates advertising concepts,

ad theme concepts and appeals, new product concepts, pricing, brand concepts, brand names, and positioning strategy concepts.

Applications of Market Research

Branding ResearchBranding decisions drive branding marketing research

strategy. Brand Management and Research services help to understand the brand's value, strengths and vulnerabilities and increase the brand position

Brand Equity ResearchBrand equity research measures the breadth and depth of

brand power in the target markets.  A key to research design is the goal of a brand equity measurement study.

Advertising ResearchAdvertising research design is determined by specific

advertising goals and the stage of ad development, or campaign.

Pricing Research Various types of research used to explore the role of

price, optimal pricing, and pricing demand curvesSales AnalysisAn analysis of sales by period or year to project trends,

identify problems and measure a retailer's performance

Positioning ResearchStudies designed to help identify the optimal positioning

for a brand or service Market SegmentationMarket segmentation is a process by which market

researchers identify key attributes about customers and potential consumers that can be used to create distinct target market groups

Customer Satisfaction ResearchIt is area of marketing research which focuses on

customers' perceptions with their shopping or purchase experience.

I. Defining the problem and setting the objectives:The definition of the problem helps in determining the

techniques to be used, the extent of information to be collected. After defining the basic problem, the researcher must specify the objective of the study.

II. Conducting situational analysis:It means collecting the information about the business

environment.

Marketing Research Process

III. Conducting an informal investigation:The researcher must conduct an informal investigation

with the people outside the company, like wholesalers, advertising agencies, consumers etc.

IV. Planning and conducting a formal investigation:It includesa) Selecting the source of informationb) Deciding methods of data collectionc) Preparing frames and formsd) Pre-testing the formse) Planning the samplesf) Collecting the data

V. Analyzing and Interpreting data:Data analysis and interpretation is the process of

assigning meaning to the collected information and determining the conclusions, significance, and implications of the findings.

VI. Preparing a written reportMaking the written report clearly presented and

highlighting the findings and the decision maker should be able to take decision effectively after going through the findings and recommendations.

Research is not guarantee of success

Lack of adequate knowledge of marketing research

Research is based on sample and sampling research lacks the

complete accuracy

Trained personnel and a lot of time is required for marketing

research

It is difficult to evaluate the economic benefits derived by

marketing research

Limitation of Marketing Research

It can't give 100% accurate results

It provides suggestions and not solutions.

Marketing research is a costly affair.

It can't predict consumer behaviour.(changing the

behaviour of consumers)

Long time is required in the marketing research

procedures

Thank you