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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 1 Marketing Research Introduction to the process

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 2 Overview What is MR? Steps Involved The Report Use of Statistics? Top MR Firms Careers in MR

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 3 What is MR? Clearly defined search or investigation to answer some marketing related questions. Marketing Research is done when: there is information gap research costs less than taking a wrong decision Sufficient time is available before taking the decision Can be applied to any area within the broad Marketing concept Product Research-which packing is best, satisfaction levels Concept Research-testing a new concept Market Research-studying a new/existing market in detail

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 4 Steps in MR Starts with Need for Information Define the Research Objective Choose the Research Design Design the Methodology-survey, sampling, Field Work and Analysis plan Data collection and analysis Presentation, Report. Ends with Marketing Action

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 5 The Report Report is the only object that the outside world/ your boss sees. Your hard work that went behind it is often less important to others. So, it has to be of very good quality.

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 6 The Report -General Structure Executive Summary Table of Contents Introduction Research Objectives and Methodology Analysis Findings Limitations Recommendations List of References

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 7 The Report-Example The AC Nielsen Report is the only object that the outside world sees. So, they invest a lot to ensure that it is of very good quality. Front Cover

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 8 The Report-Example Contents (An outline of the report contents)

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 9 The Report-Example Data Analysis (With graphs and analysis)

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 10 The Report-Example Survey details (Methodology)

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 11 Principles of a good report Very objective and unbiased Provides a whole picture Easy to read and comprehend Refers a lot of reliable data. (You must always show the sources of data. ) E.g.. It is estimated that EasyJet has losses of $3.3 billion 2 and so.. 2 Source:Businessworld Casebook 2003, pp20

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 12 Use of Statistics Do we really need to understand any statistics to do research? Is statistics a waste of time?

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 13 How will you select a few? Use of Statistics

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 14 Very simple. Use of Statistics

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 15 How will you select from these?

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 16 Little bit complex!

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 17 First group it into similar parts

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 18 Then study a few in each part

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 19 Thats stratified random sampling!

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 20 How many will you select? First know how many are there overall? That is the population. In this case 19.

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 21 Also find how many are there in each type! Here,9 orange parts and 10 blue parts So sample also to have 9:10 ratio 1 2 3 4 5 6 7 8 9 10 1 2 4 3 7 6 5 8 9

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 22 Thats proportionate sampling.

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 23 Things get more complex with more data

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 24 Apply the same rule!

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 25 So statistics is needed to identify patterns And to ensure that you have done things in a scientific manner!

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10/10/2007 9:15-11:45amAsian School of Business, Trivandrum 2007 26 Thank You End of Session