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MARKETING RESEARCH
An established input to a FirmsDecision-Making Process
Supplemented & enhanced
by
Computer & Telecom Technology
To get improved validity of
Data entry
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Marketing ResearchTo Repeat:
Marketing Research may also be
described as the Systematic andObjective Identification,Collection,Analysis, and
Dissemination of Information for the
purpose of assisting Management inDecision Making related to theidentification and solution of inproblems and opportunities in
Marketing
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MARKETING RESEARCH
AN OVERVIEWTo cover:
Marketing Research ObjectivesMarketing Research problems and developing anapproachMarketing Research SystemMarketing Research Process
Measuring Marketing ProductivityMIS & DSSForecasting & Demand MeasurementEthics in Marketing Research
Internet & Computer applications SPSS WindowsSummary
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MARKETING RESEARCH
Other Topics for Discussion:(Contd.)
Role of Marketing ResearchMarketing ResearchCharacteristics
Marketing Research Methods
Marketing Research ClassificationTypes of Marketing Research
B2B Marketing Research
International Marketing Research
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MARKETING RESEARCH
More Topics for Discussion:
Comparison with other form ofBusiness Research
MR in small businesses and non-
profit OrganizationCommonly used MR terms
Selecting Research supplier
Career in Marketing Research
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Marketing Research
To address the following points,
as well:
Constituents of good Marketing ResearchGood merits for measuring Marketing
ProductivityAssesment of ROI of Marketing
expenditureAccurate measurement & Demand
forecasting
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MARKETING
RESEARCH -
OBJECTIVES,SYSTEM& PROCESS
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Marketing Research ObjectivesTo interpret past performance
To plan future activities
Insight development through collection oftimely,accurate,actionable information about
customer, competition & brandsTo reengineer cost, quality, functionability,consumer acceptability & price
To improve Market Share !
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Marketing Research Objectives
To Write: Good Marketing Research Objectives :-Prior to choosing MR techniques to use
Develop
Clear Marketing Research ObjectivesGood MR Objectives are - a) Focused
b) SpecificThey are:
An Action Verb What you want to do
A Type of Finding What you will know, when you have done it
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Marketing Research ObjectivesSAMPLE VERB : SAMPLE FINDINGS..Identify: Problems, Opportunities, Criteria
Define: Concepts, Requirements
Describe: Processes, Usages, Environments
Explore: Perceptions, Reactions
Generates:Ideas, Hypotheses, Alternatives, Explanations
Evaluate: Feasibility, Attractiveness, Support
Select: Theme, Service, Product, Concept, Ad.Test: Assumptions, Preferences
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Marketing Research ObjectivesSAMPLE VERB : SAMPLE FINDINGS..
Measure: Size, Growth, Frequency
Prioritize: Market segments, Needs, Opportunities
Monitor: Trends, Competitions
Track: Awareness, Satisfaction
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Marketing Research
It is often partitioned into two sets of
categorical pairs, either by TargetMarket:
Consumer Marketing
ResearchBusiness-to-Business(B2B)
Marketing Research
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Consumer Marketing ResearchA.C.Nielson Company in 1923
Arthur Nielson was the founder of aboveCo. and originator of the field of ConsumerMarketing Research as a Statistical
Science.Consumer Marketing Research is a form of
applied Sociology that concentrates onunderstanding the preferences,attitudes &behaviors of Consumers in a Market-based
economy, and it aims to understand the
effects and comparitive success ofMarketing Campaigns.
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A MARKET ORIENTED
COMPANY SHOULD ASK FIVEQUESTIONS
Do we routinely research Customers behavior(retention,
acquisition, usage etc.)& why Consumers behave thatway (awareness, satisfaction, perceived quality etc.)
MIS -> routinely reporting to the Board in formatintegrated with financial marketing matrix
Report results are compared with the levels previouslyforecasted in the business plan.
Levels are compared with the levels achieved by the key
Competitors by the same Indicators. Adjustment of the short-term performances.
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TOTAL MARKETING EFFORT
(Relocation of Firms Activities)
MARKETING RESEARCHTHROUGH CONCERTED
EFFORT OF
CUSTOMER NEED
MARKET POTENTIAL
HOW TO ADVERTISE
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Marketing Research:THE GOAL:
The Goal of Marketing Researchis to identify and assess how
changing elements of theMarketing Mix impact
Customer Behavior.
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Marketing Research:Marketing Mix:
Marketing Mix is probably the most famous Marketingterm.
Its elements are the basic, tactical components of amarketing Plan.
Elements are also known as 4Ps.Price
PlaceProductPromotion
Recently a 5th P is added
People
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Marketing Research
It is also partitioned into two sets of
categorical pairs, by methodicalapproach:
Qualitative Marketing
ResearchQuantitative Marketing
Research
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Marketing Research
To Remember:
Marketers also need to make
The best possible
Technical Decision in theshort run
Strategic Decision in the longrun
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Marketing Research in Strategic
Decision MakingTasks to find:
Market Potential Market Share
Sales
Business trends
Competition
To establish SalesForecast
To Analyze
To Plan To Implement
To Control
Marketing Strategy. To gather
To organize
To analyzeInformation,Data,Marketreport.
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Strategic Decision MakingDepends on:
Knowledge about Market Potential
Customer Segments
Other forces in the Organizations internaland external environment
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Industrial Marketing
Research:Consideration Criteria Technical Orientation
Concentrated Access to Information
Survey Technique
Respondent Cooperation
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Importance of Market ResearchA recent Study:
To improve, grow, turn-around, diverse,inculcate new products out of more than400 Industrial Firms, 70% use MarketResearch.
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Marketing research:Industrial
vs. Consumer Apply in Both
But Methodology is different
In Industrial Marketing it is based on:
Industrial Marketing Environment Nature of Organizational Buying &
Behavior
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Marketing Research SystemSystem means systematic approach of
commissioning formal marketing studies ofspecific problems and opportunities Roleof Marketing Managers
May request: A Market Survey
A Product-Preference Test
A Sales Forecast by Region
An Advertising Evaluation
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Marketing Research SystemJob of Market Researchers
To produce Insight of Customers Attitude andBuying Behavior. Marketing Insights provide diagnostic
information about how and why we observe
certain effects in the Market place. What that means to Marketers? We define repeatedly Marketing Research as
the systematic design, collection, analysis, andreporting of data and finding relevant to aspecific Marketing situation facing the Company.
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Marketing Research Process Marketing Research is undertaken to
gather reliable marketing information tofacilitate Planning & Control
Value of the result depends on Design &Implementation of research Method.
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Marketing Research Process
Defining theProblem &Researchobjectives
Developingthe
Information
sources Collectingthe
Information Analyzingthe
Information Presentingthe
Findings
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Data Soures:Market researchPrimary Data(to aid
decision makingrelating to any
specific problem of an
Industry) Sources: Through Surveys
Structured and/or
unstructured
Secondary data(thatalready exist ingeneral,not having beenprepared for any specificproblem) Sources:
Census of manufacturers Sales and Marketing
Managements Survey
Standard IndustrialClassification(SIC)Manual
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Best wishes,
Good Luck
&Thank you
Prof. P.Banerjee