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MODULE 3
MARKET SEGMENTATION, TARGET
MARKETING AND POSITIONINGAnd
INDUSTRIAL MARKETING
RESEEARCH
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Introduction
STP is one of the important strategic decision in marketing.
Objective is to identify, select, analyse, and evaluate
attractive market segments and position the product
favourably in the minds of the target customers.
It enables the firm maximize the returns on investment
It is directly linked to achieve the organizational goals.
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STP-A FrameworkMARKET SEGMENTATION TARGET MARKETING POSITIONING
1. Identify measurable,
relevant and operational
variables for segmenting the
market
2. Define macro profiles of
resulting segments
3. Define micro profiles of
the resulting macrosegments
1. Evaluate resulting
macro/micro segments:
a. Profitability analysis
b. Competitive analysis
2. Decide on market
coverage
a. Undifferentiated
b. Differentiated
c. Concentrated
3. Select the target segments
1. Develop product/market
positioning for each of the
target market selected.
2. Develop marketing mix
for each target market
selected.
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Market Segmentation
Selection of markets to serve effectively
It enables the marketing firm to allocate resources
effectively
It is a process of dividing the total market into severalsegments or groups of buyers.
The firm identifies different ways to segment the market,
develop profiles of each resulting segment, and evaluate
each segment's attractiveness.
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Market Segmentation
For example, an auto company may identify four broad
segments: car buyers who are primarily seeking
transport or high performance or luxury or safety.
Precision steel tubes was done based on thesegmentation variables of end users such as bicycles,
2wheelers, furniture's, boilers, bus body builders.
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Requirements of Effective
Market SegmentationThe Variables selected for analysis must be
Measurable- Information on the variables of interest should
exists and be obtainable
Relevant- the variables chosen should impact on decisionmaking to marketing programs
Operational- the variables chosen for evaluation should be
related to buying behaviour and differences in customer
requirements.
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Benefits of Market
Segmentation
It enables the industrial marketer to compare marketing
opportunities to different market segments.
Industrial firms with availability of adequate resources
can develop separate marketing programs or plan tomeet the specific customer needs
Budget allocation of resources can be done effectively to
various segments.
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Criteria Used for Selection of
Segmentation Variables Measurable-The variables used should measure sales
potential or quantity of product required by customers.
Differentiable-the segments should be distinguishable
and should respond to separate marketing plans.Ex: Ifscooter, motorcycle, and moped manufacturers respond
similarly while purchasing steel, they do not form
separate segments.
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Criteria Used for Selection of
Segmentation Variables Sustainable-The segments should be large enough in
terms of sales potential and profits.
Ex- By using company size as the segmentation variable, alarge company manufacturing and marketing electric
motors, segmented the market into small, medium, and
large segments, and the company selected medium and
large sized customers as their target markets.
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Identifying Variables used for
Segmenting Industrial Markets
Industrial market segmentation is approached on the basis
of:
Macro-variables
Micro-Variables
In some instances after using one variable, it may be
necessary to sub divide the market by using another
segmentation variable in order to obtain a detailed
scheme-sequential segmentation process
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Major Variables used for
Segmenting Industrial MarketsMacro-Variables
Type of Industry-
Which industry should we market our product or
services. Mining, Chemical, Textile, Rubber,
Automobile, etc.
Types of customers include Govt., institutional,
commercial, co-operative
Company Size-
What size of company should we focus on? Based on
the sales potential market is segmented as small,
medium and large.
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Customer Location-
What geographic area should we concentrate
on?
Customers located nearer to factory, or
customers located near urban areas like
Bangalore, Mumbai, Kolkata, Delhi, Chennai
End-use or application of products-
Should we focus on certain end users or
application of products instead of all the users Ex:Aluminium extrusions are used for doors
and window frames, TV antennas, electronic
equipment as heat sinks, etc.
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0 Micro-Variables
Customer Interaction Needs-
Should we serve customers who need moreinformation, help or discussions in decision makingprocess from the supplier?
Organizational Capabilities- Should we concentrate on customers who need
financial support or technical support, like moreservice or more credit?
Purchasing policies-
Should we focus on customers who prefercompetitive bidding, market based negotiated price,turn-key contracts or service contracts?
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Purchasing Criteria-
Should we serve the customers who seek
quality, service or price?
Personal Characteristics
Should we focus on customers based on the
personal characteristics of buying centre
members such as risk takers, risk avoiders, or
personal motives.
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Macro Segmentation
This approach consists of identifying the macro-variables
on the basis ofIndustry characteristics and
organizational characteristics such as size, type,
geographical location or product application.
Industry Characteristics-Industrial firms market their
product or service to industries classified by Standard
Industries Classification(SIC)
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0 Ex:A MR firm decides to segment its market
based on industry type, to develop industry
knowledge and information to give better valuein the competitive market. The company uses
the SIC codes to club different industries into
homogenous groups like, engineering, chemical,
fertilizers, agricultural and food processing
industries; service organizations like hotels
banks, trade associates and tourism
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Organizational Characteristics
The size of the customer is an important macro variable
used to segment the market.
Large organizations avoid purchases from small firms, and
differ in their marketing strategies. Customer location-the geographical locations of customer
is an important factor in serving the needs of on time
delivery.
Ex:transportation time, inventory control, availability ofwarehouse facilities, aftersales service.
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Market segmentation by end use of product is
used by the firm who market product or service
to the end use markets.
0 Ex: Market segment for aluminium observed are
doors, windows, partitions in factories, offices,
and commercial establishments. And other enduser segments are electrical control panels, bus
body builders, electronic sinks, dish antennas
etc.
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Micro Segmentation
Micro segments are homogenous group of customers
within the macro segments.
Industrial marketers subdivide macro-segments into
micro-segments only if necessary, and mainly based onpurchase decision.
Information and data required for developing micro
segmentation is gathered by sales persons and market
surveys.
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Micro-variables in Micro-
segmentation
Buy Phases-buy situations are used to segment the
customer group. Mainly done on the basis of customer
interaction needs. Ex-computarized numerically
controlled machines. Organizational Capabilities-factors include financial,
technical, or operational Ex-financially week companies
are attracted by long credit terms than on product quality
or delivery.
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Purchasing Policies-used to segment customerbased on the purchasing practices. Ex: Govt.Customers have standard purchasing policy of
tender bidding.
Purchasing Criteria-used to segment customersbased on the criteria used by buyingorganizations.Ex-criteria such as price, paymentterms, inventory carrying cost, rejection cost, andinspection cost, dominate the purchase decisions.
Personal Characteristics of individual buyers within
an organization is an important variable as theultimate decision makers are individuals.Ex-personal attributes like willingness to take risk,need of social relationship, education, age, andpersonal motives.
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Overview
The degree of market segmentation depends on how
detailed the customer knowledge is for effective
utilization.
More the market is segmented more it becomes costly andtime consuming.
Emphasis more on macro-segmentation, and only if
necessary move to micro-segmentation
Segmentation may even be based on the purchasesituation and the power structure in the organization.
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Target Marketing
Evaluating the Market Segments-
Size and Growth- Indicates the size and market
growth in each of the segment. Forecasting methods
are used to obtain the market demand and Growth. Profitability Analysis- 3 elements involved in
analysing the profitability are:
Market Potential
Sales forecast
Profitability
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Competitive Analysis-Profit potential depends
on the careful analysis of the competitor's
strengths and weakness w.r.t manufacturing,R&D, finance, technical, service product quality,
delivery performance, sales force, advertising,
distribution, technology, and organizational
reputation.
Company Objectives and Resources- Check
whether each potential segment is in line with
firm's long term objectives, if not eliminate the
segment. Ex:success factors for automotiveindustry are quality and after sales service.
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0 Target Market Strategies
0 After deciding the target segments, the firm has toadopt certain strategies to enter the market:
0 Concentrated Marketing:
The firm carefully defines a single or few segments
Then focus all the marketing efforts
The focus is on narrow range of products/servicesaccompanied by high quality, high price and highlyselective promotional and distributional products.
Done by firms whose resources are limited.
0 When the firm increases its focus and gain betterinformation than the competitors, its reputation andshare in business increases.
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0 Ex:the company decided to segment the market
based on the customer location, and
concentrated its marketing efforts only on thosecustomers who were located near to the
manufacturing plant, so as to give a superior
pre sales and post sales services than the
competitors. Although the company had limited
resources and was in small scale sector, it was
able to gain good profits.
0 Concentrated marketing strategy may be a risk ifthe market declines or competitor may invade
the selected segments.
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0 Differentiated Marketing
The firm decides to target several market
segments whose needs, product usage, marketresponses are different.
Develops seperate marketing strategies for
some chosen segments and avoid somesegments in the same market.
Gains higher sales volume and strongerposition in the chosen market
Leads to higher costs in product development,promotion, production and administration.
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0 Ex: an electrical engineering company decided
to market its medium range motors to cover
entire domestic market. To succeed in thecompetitive market, the company decided to
segment its whole market into OEMs, large
users, and dealers. Different marketing
strategies were developed on these focusing on4Ps.
0 The strategy helped the company to increase
sales and profits.
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0 Undifferentiated Marketing
Lack of effective market segmentation.
Ignores different marketing strategies for
different segments.
Develop a single marketing plan common to allthe segments.
Strategy used in market where there is a lack of
differentiation among the customers Strategy used if there is a lack of management
planning or analysis
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0 Advantage is to keep the marketing costs low,
i.e.., MR, inventory, production, advertising.
0 Sales persons face a tough job if the competitor
follows differentiated marketing strategy.
0 If the products are similar, the sales person has
to use 4Ps to differentiate among the
competitors
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Criteria in Choosing Target Market
Strategy
If the company resources are limited then the firm can
choose concentrated marketing strategy
If a new product is in the introduction stage of PLC, then
the firm can adopt concentrated or undifferentiated
marketing strategy, and when it reaches the mature stage,differentiated marketing strategy is advisable.
If the competitor follow differentiated marketing strategy,
the firm should also follow the same.
If the competitor uses undifferentiated marketingstrategy, then the firm can use differentiated or
concentrated marketing strategy.
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0Niche Marketing
A customer group that seeks product or servicetailored specially to the individual needs,desires and preferences.
Its objective is to reach unsatisfied potential
customers more effectively than competitors.
A selective approach to find a market nichewhere the company's strengths and capabilities
best match the customers' need. A strategic approach to gain increased
acceptance in individual market.
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0 Ex: A company focuses its services on training
field sales ad service persons to suit the needs
of each individual customers.
0 Ex:Toyota was one of the first companies to
realize there was a group of car buyers who
would be very interested in environmentallyfriendly cars. To answer this need, it came up
with the legendary Prius, the Hybrid Electric car.
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0 Overview
Niche Marketing is followed when the customer has a
complex and unique set of needs. Niche marketing strategy achieves high profits, as the
customers are willing to pay for their special needs.
Difficult for a competitor to attack a niche market
leader.
In the mature stage of the PLC the company should bein top 3 positions or adopt niche marketing strategy.
Major advantage is to attain high profits and sales may
decline due to low demand or large competitor attack.
To be safe in market, the firm has to concentrate todevelop two or more niche markets.
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0 Ways to achieve Niche specialization
Geographic location- the firm sells only in certaingeographic location.Ex-UPS manufacturers market locally.
End User- the organization decides to specialize in one typeof end use customer-Management B-Schools, Educational
Institutional. Customer size-many small scale firms prefer to market their
products/services to small size customers.
Product line-a firms manufacturers only one product tofocus on a particular need of the customer.Ex:lighting
Customer- firms specialize in marketing theirproducts/services to one or few customers.Ex:automobilecomponent suppliers sell entire products to TVS or Yamaha.
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Positioning
A distinct place a product/service occupies in the mindsof the target customers. or
How the firm wants its products/services to be perceived
by the target customers.
It should clearly differentiate its company and itsproducts from that of its competitors.
Ex:Infosys Technologies is positioned as a leading software
company, L&T positioned as a leading engineering
company. TATA positioned for the best quality in theminds of the customer
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0 Procedure for Developing a PositioningStrategy:
Identify the target customers' needs in terms of
major attributes or benefits. Conduct MR tounderstand major attributes, which the targetcustomer consider important factor in decisionmaking. Variables used to differentiate productsare:
0 Product Variables:ISO certification
0 Service Variables:Pre sales service, during sales serviceand after sales service.
0 Personal Variables: arranging training programmes at alllevels.
0 Image Variables: the way buyers perceives a company-competitive edge.
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Select one or more major attributes for differentiation based on company'sstrengths.
Selection of the attributes like best quality, best service or mostadvanced technologyto differentiate from competitors.
JK tyre has positioned as No.1 in Quality, No.1 in R&D, No.1 inTechnology, No.1 in Car Radials, No. 1 in Exports
Siemens Healthcare has positioned as Answers for life.
0 While deciding promotion strategy:
the marketer has to keep in mind which are the factors that customerconsider while selecting suppliers.
How does the target customers perceive the company's products/servicesw.r.t important attribute.
How does the target customers perceive the competitor's products/servicesw.r.t same attribute.
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The customer perception is mapped by statistical
analysis calledperceptual map.
High product quality
A1
strong customer service weak customer service
A
Low product quality
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Communicate the company's positioning to thetarget market.
Its not only important to position but alsoimportant to communicate to the target market
Communication of the positioning is done by salesforce, exhibitions, trade shows, advertising intechnical or trade journals
0 Ex: if the firm chooses TQM as the positioningstrategy, the firm displays superior quality in all theactivities like submission of quotations, salespresentation, packaging, dispatch, installation, after
sales service.
0 Some times customers perceive, high quality comeswith high price
n us r a ar e ng
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n us r a ar e ngIntelligence and Marketing
ResearchIntroduction Industrial marketing research is one of the components of
the industrial marketing intelligence
Marketing Intelligence is an on-going activity to providecontinuous information for decision making.
MR consists of systematic design, collection, analysis, and
reporting of data and findings relevant to the marketing
situations. The firm has to carry out external environmental analysis
to respond to opportunities and threats.
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Role of MR in Strategic Decision
Making
Its one of the basis for strategic marketing plan.
To analyse, plan, implement and control
marketing strategy effectively, information must
be gathered, organized, analysed.
Its also used to conduct market surveys,
experiments involving buying attitudes, and
practices in case of new product development.
erence e ween onsumer
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erence e ween onsumerand Industrial Marketing
Research Technical Orientation- Industrial marketingresearchers are more technically oriented thanconsumer marketing researcher as they interact morewith engineers, production and purchasing personnel.
Concentrated access to Information-due to asmaller concentration of industrial buyers,information sources tend to be concentrated. There isa greater reliance on secondary data sources,exploratory studies and expert judgement.
Survey techniques-personal interviewing ispreferred than telephone or mail, as it is easier toidentify specific respondents with small sample base
Respondent Cooperation-data from an industrialrespondents are very difficult to obtain than from theconsumer market.
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Survey methods between consumer
and industrial marketing research
Areas of Survey Methods Industrial Research Consumers Research
Sample Size
Small sample due to small
market size and concentratedbuyers
Large samples due to large
universe, and individual or
house hold buyers and are
geographically dispersed
Respondent cooperation and
accessibility
More difficult due to time
constraint; accessibility is
limited to working time
Less difficult to obtain data
accessibility is easier
Defining respondent
More difficult, as buying
decisions are made by several
members of buying committee
and not by purchase executives
Simple, as individuals and
house hold users are generally
the buyers
S f I d t i l M k ti
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Scope of Industrial Marketing
Research
Development of Market Potential-Industrial marketers
need to gather information on sales and profit potential
and should optimally allocate resources such as sales
people, advertising, budget, capital expenditure, so as todecide which product should be dropped or which
product should enter the market.
Ex:A marketing manager of electric motors need
information on sales and profit potential of fractional hp
motors, small range motors, medium range motors and
large AC motors.
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0 Market Share Analysis-Market share of a productfor a firm changes due to change in the competitivestrategies, change in customer requirements and
change in economic and political environment.
0 Market share is an important performanceparameter in setting future goal of a firm.
0
Sales Analysis-Sales, expenses and contributionare evaluated by each product line, territory, salesperson, market segment, customer.
0 Actual performance is compared on monthly,quarterly and yearly basis w.r.t above parameters.
0 This analysis is important to identify problemareas in market segment.
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0 Forecasting-Its an important input in preparingmarketing plan.
0
Its important factor to analyse businessenvironment(opportunities and threats andstrengths and weakness) and help the firm to takedecision on new products, diversify market, changein distribution channel etc.
0 Competitor Analysis-A market analysis isundertaken to understand the customers'perception to competitors' product quality, service,pricing and promotion as compared to the firm.
0 In the highly competitive market the industrialmarketer has to satisfy the target customers' needsbetter than its competitors.
0 B h ki I d fi d h d h f h
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0 Benchmarking-Its used to find out how and why some of thecompetitors perform better marketing tasks than other firms.
0 It aims to improve the firms performance by comparing andmeasuring the firms against business leaders anywhere in theworld.
0 It includes success factors for the industry in which the firmoperates like customer service, on time delivery, or effectivesales force.
0 The process involves-determine the tasks to benchmark-identify the critical performance factors of measurement-findout the best firm for the given tasks-measuring theperformance of the best firm and also the of the firm-collectingthe information on the process followed by the bestcompanies-analyse the data and determine which process of
the firm may work for the company-implement and monitorthe result.
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0 New Product Acceptance and Potential-After
the new product launch, industrial MR must
find out initial reaction from the customerregarding the buying decisions. It helps the firm
to decide on further investment in production,
thus reduce the risk of failure.
0 Business Trend Studies-As Industrial demand
is mostly derived from other industries
demand, its important to study the future
trends of the business of those industries onwhich the demand of the product depends.
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0 Sales Quota Determination-marketingresearch is conducted to evaluate the
performance of sales persons and territoriesand for setting sales goals.
0 The objective approach for deciding salesquota-
Breakdown the estimated market potential andmarket share into various geographical segments.
By multiplying the area market potential with
expected market conditions. Manager decides the sales quota for the individual
sales people and territories.
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Marketing Research Process
Defines the various tasks involved in the marketing
research.
STEP1. Identify the problem or opportunity and define the
research objectives.STEP2. Develop the research design.
STEP3. Collect the data.
STEP4. Process and analyse the data.
STEP5. Presentation/reporting the research findings.
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0 Identifying the problem and defining theresearch objectives
The first step is to identify the marketingproblem or opportunity and define theobjectives accurately.
Preparation of research brief-the backgroundinformation on the problem and the how thefindings will help the research process.
Its a very important step to avoid anycontingency at later stages
0
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0 Develop The Research Design/Plan
0 It indicates the procedure and the cost of
conducting the research study.
0 Decision Areas in Research Design-
Information type- preparation of the researchobjectives.
Sources of data- primary, secondary,commercial, or combination
Research methods- observational, descriptive,exploratory, experimental
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0 Sampling Plan- sampling procedure, sampling
unit, sample size
0 Methods of contact-mail, telephone or personal
interview
0 Data collection methods-questionnaire,
mechanical devices
0 D i i A i R h D i
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0 Decision Area in Research Design:
0 Information Type:
0 Based on the research objective the informationshould include
List of competitors
Their market share
Whether they are local national or multi-national
Whether any new competitor in future Competitors' SWOT analysis and pricing
policies
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0 Sources of Data-
Primary Data-consists of original information
gathered for specific purpose
Secondary Data-consists of data that is collected
earlier for some purpose
Commercial Data include the marketing informationoffered by some marketing research organizations
0 Research Methods for Primary Data Collection-
Observational Methods-information is recorded byobservation on the behaviour pattern of people,
without asking questions
0 E l t M th d Wh th bl i t
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0 Exploratory Methods-When the problem is notclearly defined and little information isavailable. Ex focus group and depth interviews
are used to gain the insight.
0 Survey Methods-Descriptive study are used byinterviewing people who are believed to
possess the desired information. It measurespeople's knowledge attitude and buyingbehaviour.
0 Experimental Method-The purpose is to
measure cause and effect relationship bysetting up a controlled situation.
0 S R h M th d
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0 Survey Research Methods:
0 In industrial marketing research, the most common
and the best primary data collection is the surveymethod.
0 Survey methods are classified into:
Structured direct and indirect interviews Unstructured direct and indirect interview.
0Structured Direct Interview-Its a formalquestionnaire approach to people, and instructedto respond to those questions only.
0 Since the responses are standardized, editing,tabulating, analysing is done easily.
0 It f d h th l i i l d
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0 Its preferred when the sample size is large andare geographically dispersed.
0Unstructured Direct Interview-It known as'depth interview' and often used forexploratory research.
0 Its conducted to obtain clear understanding ofthe problem and to discover information onhidden motives. Conducted usually in informaland casual manner to build rapport andencourage the respondent to express views.
0 It takes longer time and requires competentinterviewer.
0 St t d I di t I t i D l hi
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0Structured Indirect Interview- Delphi
Technique-
0 Its a structured communication technique,originally developed as a systematic, interactive
forecasting method which relies on a panel of
experts.
0 Delphi is based on the principle that forecasts
(or decisions) from a structured group of
individuals are more accurate than those from
unstructured groups.
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0 Unstructured Indirect Interview- Focus Group
Interview
0 A focus group is a form of qualitative
exploratory research in which a group of people
are asked about their perceptions, opinions,
beliefs and attitudes towards a product, service,concept, advertisement, idea, attitude or
packaging.
0Questions are asked in an interactive groupsetting where participants are free to talk with
other group members.
0 S li Pl
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0Sampling Plan
0 A sample is a part of the population which is
selected to obtain the necessary information.
0 Sampling Plan consists of 3 decisions:
Sampling unit Sample size
Sampling procedure
0 Sampling Unit: The researcher should
determine the population to be surveyed.
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0 Sample Size-the researcher should determine
the sample size i.e., how many firms to be
selected for survey.
0 Sampling Procedure-the researcher has to
determine how the objects are to be selected.
0 Its classified into:
Probability Sampling- based on Random Selection
and statistical measurement of errors could be done.
Non Probability Sampling-based on non Random
Sampling and sampling errors cannot be estimated.
The cost and time of sampling is less.
0 M th d f C t t
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0 Methods of Contact
0 The 3 methods of contact in industrial
marketing research are:
PersonalInterview
Telephonic interview
Mail surveys
0 Personal Interviews: Its a most widely used method as
the sample size is small. Its time consuming, expensive
and needs more planning and supervision. When theproduct is more technical, this method is more
effective.
0 Telephonic Inter ie Generall the information
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0 Telephonic Interview- Generallythe information
gather is quicker, response rate is higher, and
expenses are minimal. The interviews are short
and not personal, such as measuring corporate
awareness, evaluating advertising recall.
0 Mail Survey- The contact is impersonal and can
expect the possibility of ambiguity, and the
responses are low. Therefore the wordings of
the questionnaire for data collection is
important. Its free from interviewer bias andcan reach the respondents, who are not easily
approachable
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0 Data Collection Methods(ResearchInstruments)
0 Questionnaire-most common method used whenthe sample size is large. It includes a number ofquestions in a proper sequence contributing to theresearch objectives. The questions can be closed
end or open ended. The questionnaire should bepre tested to bring out the weakness in wordingand sequencing of questions.
0 Mechanical Instruments-these are devices which
are used to collect the information directly like theeye camera, psycho-galvanometer, audiometer, andmotion picture cameras.
Processing and Analysing the
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Processing and Analysing the
DataProcessing of data includes: Editing, Coding, Classification
and Tabulation
Editing: consists of checking the completed questionnaires
for any errors or omissions and correcting, whenever
required to ensure consistency and accuracy.Coding: includes assigning symbols and numerals to
answers so that the answers can be put into limited
category, which is needed for efficient data analysis.
0 Classification consists of arranging the data in
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0 Classification-consists of arranging the data in
groups or classes based on common
characteristics. 2 types of classification
observed are: descriptive or qualitative and
numerical or quantitative.
0 Tabulation-Its an ordinary arrangement of data
into columns and rows so that further data
analysis can be done.
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0 Data Analysis is categorized into Descriptive and
0 Inferential.
0 Descriptive Analysis: Its a study of distribution of one
variable such as size, efficiency and performance.
0 Analysis of data w.r.t 2 variables is referred to bivariate
analysis, and analysis of more than two variables is calledmultivariate analysis.
0 Some of the multivariate analysis are:
0 Multiple Regression Analysis
0 Multi discriminant Analysis
0 Inferential Analysis
Presenting the Research
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Presenting the Research
Findings/Report
The final stage of the research is the report preparation
including communication of the research findings.
Report preparation:
The researcher has to collect information about theprofile of the executives of the user company.
The research findings should be relevant to the market
research objectives.
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The researcher should logically justify the
choice of research method, data collection
method, data analysis techniques etc., underResearch Methodology
The researcher must not try to satisfy the
personal likes and dislikes of the executives inthe user company.
The researcher should have clarity of thought
and expression.
Standard format of marketing
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Standard format of marketing
research report. Title Page
Table of Contents
Executive Summary
Introduction( or research brief) Problem Formulation and Research Objectives
Research Methodology
Findings of the Research
Conclusions and Recommendations Appendix
References
Bibliography
Industrial Marketing
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Industrial Marketing
Intelligent SystemMarketing intelligence system provides relevant,
accurate and timely information on continuousbasis to the industrial marketing manager tomake decisions.
Industrial marketing intelligence system isdefined as a broad spectrum of information thatis required to make decisions.
The components include:
Marketing Research Studies Internal Information System
Secondary Data Sources
Decision Support System
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