Marketing research(titto sunny)

MARKETING RESEARCH

MARKETING RESEARCHGROUP NO:2ANKITA KUMARISOORAJ.RSRUTHI MENONTHANUJA.V.AVYSAKHI.AMUMTHAZ LATHEEF.K.A

TopicsMarketing information systemMarketing research -objectives and scope -techniques -findings -use of research findings Sources of marketing

Marketing Information SystemConsists of people, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers.

Relies on internal company records, marketing intelligence activities and marketing research.

MarketersMajor responsibility for identifying significant marketplace changesHave two advantages: - have disciplined methods of collecting information - spend more time than anyone else interacting with customers than anyone else and observing competition and other firms and groupsAlso have extensive information about the how consumption patterns vary across the country

Need for InformationFor implementing marketing plans, it requires a number of decisionsCompanies must posses comprehensive, up-to-date information in order to provide insight into and inspiration for marketingMarketing environment is constantly presenting new opportunities and threatsTo continuously monitor and adapt to the changing marketing environmentTo have a rich detail about buyer wants, preferences and behaviour

AdvantagesCompanies with superior information enjoys a competitive advantage

They can choose their markets better, develop better offerings and execute better marketing planning

ButMany firms are not sophisticated about gathering informationMany do not have marketing research departmentManagers complain about not knowing - how to get hold of critical information - getting too much information that they cannot use - getting too little that they really need and - getting important information too late

The companys marketing information system should be a cross between - what managers think they need - what they really need and - what is economically feasibleAn internal MIS committee can interview a cross section of marketing managers to discover their information needs.

Information Needs ProbesWhat decisions do you regularly?What information do you need to make these decisions?What information do you regularly get?What special studies do you periodically request?What information would you want that you are not getting now?

What information would you want daily? Weekly? Monthly? Yearly?

What magazines and trade reports would you like to see on a regular basis?

What topics would you like to be kept informed of?

What data analysis programs would you want?

What are the most helpful improvements that could be made in the present marketing information system?

DEFINITION FOR MARKETING RESEARCHMarketing research is the systematic and objective search for and analysis of information relevant to the identification and solution of any problem in the field of marketing.

It emphasizes that all the activities to be carried out during research should be systematically planned and the objective of the research is to improve marketing decision, rather than to prove or disprove a managers prior opinion.

OBJECTIVE OF TOURISM MARKETING RESEARCHEstablish an information base to be anchored on periodic and consistent service that will supply tourism intelligence on a regular basis.

Provide projectable information on tourism needs for marketing and development planning.

Develop the analytical capacity required to interpret research findings for decision making purposes.

Develop a research capability to deal with specific problems that are not of a recurring nature.

SCOPE OF RESEARCHResearch into customer needsResearch into customer expectationsCustomer perception studiesMonitoring of service deliveryCustomer surveysSimilar industry studies

Research into service intermediariesKey client studiesCustomer panelsTransaction analysisAnalysis of complaintsEmployee research

DIFFERENCE B/W MARKETING RESEARCH FOR SERVICE AND PRODUCTS1.Attitudes in service organizations towards marketing research.EthicalSizeEconomicMonopolistic organizationManagerialCustomer contact

Quality of secondary sources on servicesProblems deriving from the characteristics of servicesProblems in researching new services.

SOURCES OF MARKETINGBrochuresStrengths:They are very mobile form of marketing because one can take it home and give them to friends and family.They have souvenir value and can be referred to later.They can be developed to reach on market or as a series to reach a variety of markets.

Weaknesses:They are passive and impersonal form of promotion.People must make efforts to get them and then read them.It tends to reach small audiences and must be targeted at specific markets to be effective.Because brochures are over used, people tend to overlook them.

NewslettersNewsletters are exactly that- news letter. They are used to keep people up-to-date about what is going on in an organization.Strengths:They can be written informallyThey are good for reaching special markets.They can be inexpensive to produce.

Weaknesses:Not effective at reaching new audiencesExpensive for large marketsThe use of high quality material, can make the cost of producing prohibitive.

MagazinesStrengths:Very good for reaching selected marketsQuality advertisementMore circulatingCan be referred later.

Weakness:It is difficult to make changes between the time a matter is accepted and published.Most magazines, except for weekly magazines, lack a sense of immediacy.Readers only read what interests them and may not read the whole magazine.People gets attracted by photographs and may skip the contents of the magazine.

Newspapers Strengths:Newspapers handle long detailed messagesThey reach markets at national, regional and local levels.They reach both select and diverse markets.They are an excellent medium to use to promote local events or activitiesPeople can retain the information important for them.

WeaknessReaders are selective in reading.It is expensive for non-profit organizations or small business.

TelevisionStrength:It uses both sight and sound for promotion.It is versatile.It can be used nationally, regionally or locally.It reaches specific or diverse markets.It can be used to cover an event or activity live.

Weakness:It is expensive.Messages that are short are easily ignoredTime slots in peak period is limited and often too expensive.

RadioStrengthsLarge diverse marketCan cover events and activities liveUsed locallyCan listen to it while doing something elseExcellent medium for reaching people on moveComparatively low costRepeated frequently

WeaknessesThey are usually short and easy to miss or ignoreCannot be used to demonstrate a process

InternetStrengthsCost efficiencyWide publicityLess time consuming

Weakness:Continuous updation is needed.Only those who uses the particular site will get benefit out of it.Users may overlook the information

TECHNIQUES OF MARKETING RESEARCH

Different techniques of marketing research are:Personal or face to face interviewsPostal questionnairesTelephone interviews

PERSONAL OR FACE-TO-FACE INTERVIEWSEnable interviewer to meet the respondent and ask more detailed questions ADVANTAGESCan stimulate the interest .Can see and assess respondent to ensure correct interpretation of responses.Enables items to be shown such as pictures, lists of products or sample advertisements.Facilitates more detailed information

Disadvantages:High cost .Interviewers attitude may influence response.Requires trained interviewersCan be time consuming with low response rate.

POSTAL QUESTIONNAIRESADVANTAGES:Relatively inexpensive;Can easily cover large geographic areas;Needs little skill to implement DISADVANTAGESResponse rates may be low and biased to extreme -ve and +ve views.Respondents need reassurance of no follow up sales call.

TELEPHONE INTERVIEWSADVANTAGES:More economic;Easy to cover large geographic areas;Can record conversation or input responses directly into computer to produce fast results;Achieves higher responses.

DISADVANTAGESMay be difficult to contact some people, so difficult to achieve quotas;Telephoning can be expensive;Lack face to face interaction .

How to make your research more successful ?Test your questionnaire before you distribute Should have sufficient time and funds to carry out useful results.Abandon your preconceived ideas in the research does not give expected result s.Research should be a part of regular programme of monitoring and evaluation.Implementation of research finding is recommended.

RESEARCH FINDINGS

Unless the research findings are reported the process of research is incompleteAnalyzed and processed data results to information and findings.It must be interpreted to draw a conclusion.The conclusion must be reported to management.One should confirm that research project was executed properly to know authenticity

This findings should be made available to marketing managers to perform new analyses and

Additional question can be waste if they cannot be answered from findings

Test relationship on their own.

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