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Marketing Research
Formalized means of obtaining information to be used in making
decisions
Function of MR
To provide information that will assist marketing managers in
recognizing and reacting to marketing opportunities and problem
MR provides information for choosing an appropriate strategy.
Type of MR Firms
Syndicated Research Firms
Custom marketing research firm
Speciality line marketing research firm
Syndicated Research: Benefits
Providing a Representative Overview of the Market:
While custom research often focuses on a smaller subject/issue or population, good syndicated research
ensures a representative sample of the overall market.
It provides a clear representation of the players in the market, whether they are customers, clients, or
businesses.
Identifying Industry Trends:
As it is conducted on large scale, it provides a macro-level overview of the issues facing a particular industry.
Syndicated research is useful for organizations looking to understand the market landscape and their
position.
Measuring Brand Awareness, Strength, and Perceptions:
Allows multiple companies who invest in syndicated research to see how their brands and product offerings
are viewed among customers and potential customers compared to those of their competitors.
Offering Competitive Intelligence:
By offering insights on macro-level industry trends as well as a detailed understanding of specific issues
within an industry or market, syndicated research can be a valuable source for competitive intelligence
professionals seeking to gain information on how best to position their companies in a competitive market.
When to do MR?
1. An information gap can be filled by doing research.
2. Cost of MR < Cost of taking wrong decisions
3. Time taken for research
The Marketing Research Process
1) Problem Definition
2) Develop the research plan
3) Data Collection
4) Data Preparation and Analysis
5) Interpretation and Presentation
6) Make Decision
Step 1: Problem Definition
The truly serious mistakes are made not as a result of wrong answers
but because of asking wrong questions Peter Drucker
What is to be researched ?
Why is it to be researched ?
Strategy and Tactics
Marketing Strategy
Segmentation
Target market Selection
Positioning
Segmentation,
Strategic Marketing
Strategy Targeting,
Level
Positioning
Information
for
Marketing
Decisions
Tactical Marketing
Level Plan 4 Ps
MIS vs MR
Marketing Intelligence Marketing Research
Data Research
Sources Approach
Research Sampling
Instruments Plan
Contact
Methods
Sources of Data
Secondary Data
Internal : Accounting Documents, reports of field sales staff,
interdepartmental memos, minutes of meetings, reports etc.
External: Facts about a variable, research reports, case studies,
Primary Data
Research Approaches
Observation
Ethnographic
Focus Group
Survey
Behavioral Data
Experimentation
Development of Research Design
1) Exploratory
2) Descriptive
3) Experimental
Research Instruments
1) Questionnaires
2) Qualitative Measures
3) Technological Devices
Contact Method
Telephonic Interviews
Mail questionnaire
Personal Interview
Online Interview
Classification Of MR
Marketing Research