Nature & Scope Of Marketing Research Essay

HISTORYCurtis publishing company is the first company. Charles Coolidge parlin was the first head. question was for Campbell soup. In the United States.3. matter study Hindustan express news write up Largest chain of news paper in India During 1975 1977 fought for freedom of the press theme flash lighted organisation and its policies Suffered restrictions and theme quota Suffered loses Change in government 1977 Role played by this newspaper was hailed Earlier position tout ensemble reversed Financial position improved with in 18 months4. Case study cont. Hindustan express simultaneously published in English address west Bombay, Ahmedabad South Madras, Bangalore, Hyderabad, Trivandrum North Chandigarh East none Have deuce regional language paper Marathi from Bombay Malayalam from cochin New plan to fetch an edition from Pune in Marathi5. Problems - Already five Marathi newspaper published everyday from Pune and four from Bombay Pune hardly 180 km from Bombay, as such Bombay edition could easily reach Pune by newspaper taxi. The circulation of regional language newspaper is low. Advertising revenue is low. Will the new edition from Pune be financially feasible? Will the new edition have market feasibility?6. SolutionMARKETING RESEARCH7. What is merchandising investigate selling investigate is the function that links , the consumer, customer, and public to the marketer look into comprises defining and redefining problems, Formulating supposition or suggested solutions Collecting, organizing, and evaluating data Making deductions and reaching conclusions And at last guardedly testing the conclusion to determine whether they fit the formulation8. Classification of look for Basic seek Applied look for a) Problem solving enquiry b) Problem identification research.9. Problem Solving look Segmentation research Product research Pricing research Promotion research dispersal research10. Problem Identification Research Market potential resear ch Market sh be research Image research Market char formeristics research Forecasting research Business trend research11. Why marketing research has evolved and grown ?12. Answer- Managers ar separated from their final consumers Managers postulate entropy from their final consumers13. Managers are separated from their final consumers Manufacturer retail merchant Services Org. Final Consumer Mkt. Manager14. Managers needs information from their final consumers Manufacturers Retailers Suppliers nodes needfully And Wants15. Managers needs information from their final consumers Target market Product/ return Price dispersal Promotion Marketing Manager Wants information16. Customer group Consumer Employees Shareholders SuppliersControllable MarketingVariables _______ Product Pricing Promotion Distribution Uncontrollable Environmental Factors Economy Technology Competition Law and Regulations cordial and culture Factors Political Factors Assessing Information Needs Providing Informa tion Marketing decisiveness Making Marketing Managers Market Segmentation Target Market pick Marketing Programs Performance and Control17. The role of marketing research in managerial finale making is explained further using the framework of the judge model _________________________________________________ D Define the marketing problem E calculate the controllable and uncontrollable decision factors C Collect relevant information I Identify the best alternative D Develop and go through a marketing plan E Evaluate the decision and the decision process18. Applications of Marketing Research Pricing Research Product Research Concept Testing Positioning Research Customer Satisfaction Research Branding Research Advertising Research Market Segmentation gross revenue Analysis19. Types Of Research Descriptive vs. Analytical Applied vs. essential decimal vs. Qualitative abstract vs. data-based20. Descriptive - Also known statistical Research Includes survey & facts What age gr oup buying a grouchy brand Analytical - drop facts or information already procurable21. Applied Research Designed to solve practical problem of the new world For example, applied researchers may investigate ways to improve unsophisticated crop production treat or cure a particularized disease improve the energy efficiency of homes, offices, or modes of transportation22. Fundamental Research Driven by a scientists in a scientific question The main motivation is to expand Mans knowledge, non to create or invent something For example, basic science investigations probe for answers to questions such as How did the universe begin? What are protons, neutrons, and electrons composed of? How do sludge molds reproduce? What is the specific genetic code of the fruit fly23. numerical- Usedto measure how many people feel, think or act in a particular way Many vehicle utilize for collecting quantitative information but the most common are on street or telephone Qualitative - Used to s wear out us understand how people feel and why they feel as they do It is concerned with collecting in-debt information asking questions such as why do you say that Depth interviews or group discussions are two common methods utilize for collecting qualitative information24. Conceptual - Related to some abstract ideas or theory It is generally employmentd by philosopher and thinkers to develop new concepts or to reinterpret existing ones Empirical - Relies on experience or observation alone, often without due moot for system & theory25. Benefits of Marketing Research Benefit to business and effort Benefits to economy. Six essential benefit Enhanced ability to make levelheaded decisions. Provides a cost-effective opportunity to supplement a companys internal training.26. Facilitates a common knowledge bridge.. Provides a specific start point for people entering the profession. Gives company an objective tool to cooperate develop and promote employees. Assists researchers in un derstanding and differentiation between replete(p) research and impartial research.27. Characteristics of a good marketing research Use of more scientific methods Cost and benefits Use of the Statistical method preference course of action28. Scope of marketing research The scope of marketing research could cover the business problems relating to the followings. Types of consumers that compromise present and potential markets. buy habits and pattern of consumption Size and location of different markets, not only in India but also overseas.29. The prospects for growth or construction for the stream markets being served. New mantras of emerging segments. Marketing and manufacturing capabilities of competitors. Most suitable entryway timing. The current and prospective competitive position. Chances of improvement of current channels. Optimum use of promo- tools.30. Qualities of a good researcher Qualities Entry level junior lag senior staff Strong writing skills 57 71 90 Strong a nalytic skills 50 67 90 Strong literal skills 49 57 82 Professional appearance 19 28 5 Good grades 15 04 07 Good quantitative skills 13 19 41 Graduate degree 06 11 16 Good prepare 03 ** 01 Managerial skills ** ** 49 Client handling skills ** ** 8331. Obstacles in credenza of marketing research Due to globalization, liberalization and privatization Narrow conception faulty orientation of the investigatorLate results Conditional findings Biasness Improper research technique Inadequate skill of investigator Research inclined towards predetermined research32. Ethical condition of Market Research Information should not be misused Do not force the customer to answer responder reply should also be kept confidential Ask assured personal questions33. Limitations of Marketing Research non a panacea Not an little science Limitation of time Erroneous findings Not exact tool for forecasting In experience research research staff Narrow conception of marketing research34. Emerging issue M arketing research in internet era Online research Email surveys hypertext mark-up language forms Downloadable interactive survey application Data warehousing and data tap