Nature & Scope Of Marketing Research Essay

HISTORYCurtis publishing company is the first company. Charles Coolidge parlin was the first head. query was for Campbell soup. In the United States.3. campaign study Hindustan ex invoke news paper Largest chain of news paper in India During 1975 1977 fought for freedom of the press Newspaper flash lighted government and its policies Suffered restrictions and newspaper quota Suffered loses Change in government 1977 Role play by this newspaper was hailed Earlier position completely reversed Financial position improved with in 18 months4. Case study cont. Hindustan express simultaneously published in English language westernmost Bombay, Ahmedabad South Madras, Bangalore, Hyderabad, Trivandrum North Chandigarh East none Have two regional language paper Marathi from Bombay Malayalam from cochin china New plan to start an edition from Pune in Marathi5. Problems - Already five Marathi newspaper published free-and-easy from Pune and four from Bombay Pune hardly 180 km from Bombay, as such Bombay edition could easily reach Pune by newspaper taxi. The circulation of regional language newspaper is low. advertizing revenue is low. Will the new edition from Pune be financially feasible? Will the new edition have market feasibility?6. Solution market RESEARCH7. What is marketing search marketplaceing look into is the function that links , the consumer, customer, and public to the marketer look into comprises defining and redefining lines, Formulating hypothesis or suggested solutions Collecting, organizing, and evaluating data Making deductions and reaching conclusions And at last carefully testing the conclusion to determine whether they fit the formulation8. Classification of look into Basic look for Applied inquiry a) Problem solving look b) Problem identification research.9. Problem Solving Research Segmentation research Product research Pricing research Promotion research scattering research10. Problem designation Research grocery potential rese arch Market share research Image research Market characteristics research Forecasting research Business trend research11. Why marketing research has evolved and heavy(a) ?12. Answer- Managers are separated from their closing consumers Managers call for schooling from their final consumers13. Managers are separated from their final consumers Manufacturer Retailer Services Org. Final Consumer Mkt. Manager14. Managers needs instruction from their final consumers Manufacturers Retailers Suppliers Customers Needs And Wants15. Managers needs information from their final consumers Target market Product/service Price Distribution Promotion marketing Manager Wants information16. Customer group Consumer Employees Shareholders SuppliersControllable merchandisingVariables _______ Product Pricing Promotion Distribution Uncontrollable Environmental Factors Economy Technology Competition Law and Regulations Social and culture Factors Political Factors Assessing entropy Needs Providing Inform ation Marketing Decision Making Marketing Managers Market Segmentation Target Market Selection Marketing Programs Performance and Control17. The role of marketing research in managerial purpose making is explained further using the framework of the DECIDE model _________________________________________________ D Define the marketing problem E Enumerate the controllable and uncontrollable decision factors C Collect relevant information I Identify the best alternative D Develop and implement a marketing plan E Evaluate the decision and the decision process18. Applications of Marketing Research Pricing Research Product Research Concept Testing Positioning Research Customer Satisf save Research Branding Research Advertising Research Market Segmentation Sales Analysis19. Types Of Research Descriptive vs. Analytical Applied vs. primitive Quantitative vs. Qualitative Conceptual vs. Empirical20. Descriptive - Also known Statistical Research Includes vision & facts What age group bu ying a particular brand Analytical - Use facts or information already available21. Applied Research Designed to solve practical problem of the modern public For example, applied researchers may investigate ways to improve agricultural crop production treat or cure a item disease improve the energy efficiency of homes, offices, or modes of transportation22. native Research Driven by a scientists in a scientific question The main need is to expand Mans knowledge, non to create or invent something For example, basic acquirement investigations dig into for answers to questions such as How did the universe begin? What are protons, neutrons, and electrons composed of? How do slime molds reproduce? What is the specific genetic code of the fruit fly23. Quantitative- Usedto measure how many people feel, judge or act in a particular way Many vehicle hired for roll up quantitative information but the most common are on street or scream Qualitative - Used to help us understand how pe ople feel and why they feel as they do It is concerned with collecting in-debt information asking questions such as why do you claim that Depth interviews or group discussions are two common methods used for collecting qualitative information24. Conceptual - Related to some abstract ideas or theory It is generally used by philosopher and thinkers to mature new concepts or to reinterpret existing ones Empirical - Relies on experience or observation alone, oft without due regard for system & theory25. Benefits of Marketing Research Benefit to business and industry Benefits to economy. half a dozen essential benefit Enhanced ability to make well-informed decisions. Provides a cost-effective opportunity to hang on a companys internal training.26. Facilitates a common knowledge bridge.. Provides a specific kickoff point for people entering the profession. Gives company an objective tool to help develop and promote employees. Assists researchers in understanding and differentiation between good research and impartial research.27. Characteristics of a good marketing research Use of more scientific methods Cost and benefits Use of the Statistical method Alternative course of action28. Scope of marketing research The scope of marketing research could cover the business problems relating to the followings. Types of consumers that compromise read and potential markets. Buying habits and pattern of consumption Size and location of different markets, not only in India but also overseas.29. The prospects for growth or construction for the current markets being served. New mantras of emerging segments. Marketing and manufacturing capabilities of competitors. Most suitable entry timing. The current and prospective competitive position. Chances of improvement of current channels. Optimum use of promo- tools.30. Qualities of a good researcher Qualities Entry level junior staff senior staff unwavering writing skills 57 71 90 surd analytic skills 50 67 90 Strong verbal s kills 49 57 82 Professional appearance 19 28 5 goodly grades 15 04 07 Good quantitative skills 13 19 41 Graduate degree 06 11 16 Good school 03 ** 01 Managerial skills ** ** 49 Client handling skills ** ** 8331. Obstacles in acceptance of marketing research Due to globalization, liberalization and privatization Narrow conception Improper orientation of the investigatorLate results qualified findings Biasness Improper research technique Inadequate skill of investigator Research inclined towards predetermined research32. Ethical condition of Market Research Information should not be misused Do not force the customer to answer Respondent reply should also be kept confidential admit sensible personal questions33. Limitations of Marketing Research Not a panacea Not an exact science Limitation of time Erroneous findings Not exact tool for forecasting In experience research research staff Narrow conception of marketing research34. Emerging issue Marketing research in internet era Online research Email surveys Html forms Downloadable interactive survey application entropy warehousing and data mining