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RESEARCH METHODOLOGY

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RESEARCH

RE

SEARCH

REPEATEDLY

INVESTIGATE

Repeated investigation improves confidence in conclusion.This is called as Reliability

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METHODOLOGYSYSTEMATIC WAY OF

INVESTIGATION

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RESEARCH METHODOLOGY

SYSTEMATIC AND EVOLUTIONARY WAY OFINVESTIGATION

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Important Approaches in

InvestigationINDUCTIVE LOGIC

It develops theory fromhappenings around us

DEDUCTIVE LOGIC

It applies theory forconclusions

Academicians

Practitioners

Data

Data

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RESEARCH METHODOLOGY

EVOLUTIONARY AND SYSTEMATIC WAY OFINVESTIGATION

SYSTEMATIC WAY OF COLLECTING,

ANALYSING AND INTERPRETING DATA

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MARKETING

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MARKETING is a process of identifyingcustomer needs, finding ways to satisfy them andcommunicating these ways to customers

CUSTOMER

MARKETING ACTIVITY

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Psycho

logy

Technology

Finan

ce

Com

mun

ication

Marketing

Inter-disciplinary

approach

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MarketingManagers job isto : Provide right

product

Right people

At right time,

At right place,

with convincingcommunication

At right price.

Uncertainty,

because

Consumer

behaviour

Competition

Economic/politicalEnvironment

NaturalCalamities

Demand

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To practice marketing, managers need to

take decisions. Decisions can be taken by judgment or

intuition but risky

Uncertainty increases risk

Risk is reduced by using additionalinformation

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Marketing Research enables Marketing Manager to increase

his confidence in decisions

This information is provided by Marketing

Research

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MARKETING RESEARCH

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Marketing Research is systematic way ofcolleting, analysing and interpreting data

for marketing decisions

Improves effectiveness of marketing

ADVANTAGE

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Information Systems

Marketing InformationSystem

Marketing ResearchSystem

Meant for specific problemMeant for monitoring company

performance

Continuous Need based

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Marketing Information System- Example -

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Manufacturer

C & F Agent

Super stockist Stockist

RetailerCustomer

Primarysale

Secondarysale

Distribution system

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Marketing Information System

Product: Territory:

Year:

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Marketing Research System

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Market Segmentation

Benefit and lifestylestudy

Marketing Situation Analysis

Competition

Analysis

Importance performanceStudy

Target Marketing

Customer ProfileAnalysis

Customer opinions about products/brands, product benefits

sought, brand preferences, purchase pattern, demographics

Market Analysis

Opportunityassessment

Macroeconomic trends, political situation, technology

Relative importance of consumer needs, SWOT analysis

Studies in M.R.

User profiles, usage patterns, demographics

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Studies in M.R.

Retailing

Customer Purchase Study

ABC analysis of customers, purchase behaviour

Distribution

Strategy

Lead Time StudyLogistic Study

Time taken to deliver the product

Routing, inventory control

Satisfaction derived by customers from product,

service from company staff, dealers

Product Portfolio

Strategy

Customer satisfaction Study

Service Quality Study

Marketing Situation Analysis

Similarities among bands

Product Positioning

Benefit & perception

Study

Studies in M.R.

Marketing Situation Analysis

Product Positioning

Studies in M.R.

Marketing Situation Analysis

Benefit & perception

Study

Product Positioning

Studies in M.R.

Marketing Situation Analysis

Similarities among bandsBenefit & perception

Study

Product Positioning

Studies in M.R.

Marketing Situation Analysis

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Brand recall, advertising message retention

Price Determination

Demand Estimation

Pricing

Studies in M.R.

Marketing Situation Analysis

Communication study

Media study

Advertising

Price elasticity, consumers willingness to pay,

Profit expected at various price levels

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Marketing Research vs. Market Research

Marketing Research is systematic way ofcolleting, analysing and interpreting data

for marketing decisions

Market Research is the systematic way of

collecting and analysing data with respectto a particular market, where marketrefers to a specific group in a specific

geographic area.

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Marketing Research Process

Marketing Research process involves followingsteps:

Establish need for Marketing Research

Define research problem Establish research objective

Select most suitable method (research design) toconduct research

Identify data sources

Determine method to collect data

Design data collection form

Determine sample size, sampling method

Select sample

Collect data

Analyse and interpret data

Submit findings, recommendations

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Establish need for Marketing Research

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Research takes time and costs money. Hence MarketingResearch is not always needed.

When is marketing research not needed?

The information is already available.

Decisions must be made now.

Company cant afford research.

Costs outweigh the value of marketing research. (UseBayesian decision tree approach to calculate value of marketingresearch (Expected monetary value of sample information)