Marketing Mgt Ppt - Market Research Methods 1l4x6t
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Marketing Research And Information Systems
What is Marketing Research? The systemic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. - Philip Kotler
Systematic Design Collection and Analysis Reporting Relevant Findings
What is Marketing Research? HUL’s New Launch
Colgate Vedshakti
Maggie Atta Noodles
Why Marketing Research? Sales Forecasting
Customer Behaviour Pattern
WHY? Enhanced Brand Equity
Analysis of Competitors
Kodak’s Case
The Research Process
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Problem Definition
Avoid ambiguity
Be specific but not rigid
Watch for symptoms
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Research Objectives Decide what you as a researcher want to achieve
Specific
Attainable
Measureable
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Research Design Conducted when researcher EXPLORATORY does not know how and why a certain phenomenon occurs Carried out when the researcher understands the behavioral characteristics CAUSATIVE
DESCRIPTIVE
Conducted to establish the cause and effect relationship
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Sources of Data Primary Data
Secondary Data
What is Primary Data? Original data on which research is based First hand testimony concerning a topic
Presents data in its original form
ADVANTAGES
DISADVANTAGES
• Control on data collection
• Expensive • Time consuming • Researcher’s bias
Types of Primary Data Census
Sample
Collection of data from the entire population
Small unit taken from an entire population
Time consuming method of research
Conclusion drawn from sample represents population characteristics
Census vs. Sample
Sampling Procedure Random
Judgemental
Collection of data from respondents selected randomly
Researcher assesses a respondent and value of information and then decides whether to include it or not
Not every random respondent may be the target customer and hence responses may be not useful
Suffers from bias and conclusion can never be generalised
What is Secondary Data? Data collected earlier by someone other than the Data readily available from other sources
Secondary Data contd.
ADVANTAGES
DISADVANTAGES
• Economical in of cost • Time saving • Convenient • Clarify a problem
• Lack of availability • May be inaccurate • May be irrelevant
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Data Collection Techniques Observational Research Ethnographic Research
Focus Group Research Survey Research Behavioural Research Experimentation
Observational Research What a customer says? How a customer behaves? What a customer buys?
Ethnographic Research How people live and work?
Researches immerse themselves into consumers’ lives
Focus Group Research Uncover consumers’ real motivations Reasons they say/do certain things
Sample size too small
Survey Research Assess people’s preferences and satisfaction Short and Simple
Offering incentives
Behavioral Research Purchasing behavior More reliable than in-person statements
Experimental Research Subjecting customers to different treatments Controlling extraneous variables
Observe response differences
Research Instruments Questionnaire Interview Schedule Qualitative Measures
Questionnaire Set of questions presented to respondents Close-ended v/s Open-ended questions Common instrument to collect primary data
Questions should be clear and logical
Avoid sensitive questions
Keep it short, simple and interesting
Questionnaire
Qualitative Measures Indirect and unstructured Permit a wide range of responses Respondents will be less guarded
Qualitative Measures P O P U L A R M E T H O D S
Word associations Projective techniques Visualization Brand personification Laddering
Methods
Mail s
Telephone s
Personal s
Online s
Online Survey
Online Survey Happy Goat: This caramel company wanted to know if its handmade sweets would appeal to the masses. To find out, they used the online survey tool SurveyMonkey.
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
How is Data Analysed? Use of appropriate analytical tools Arithmetic and Statistical analysis
Data Analysis Example
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Report and Presentation Give summary with major recommendations Defined structure of the report Humanizing data can make a interesting presentation
Report and Presentation
Making the Decision Organizations use Marketing Decision Systems to help their marketing managers make better decisions. MDDS is a system that consists of data collection and tools and techniques for analysis with ing software and hardware. This is used by the organization to gather and interpret relevant information from its environment and convert it into a basis for marketing actions.
Example
Kellogg’s introduced a brand of cereal called Crunchy Nut using the taste angle
Marketing Information System
What is MIS? “A marketing information system (MIS) consists of people, equipment’s, and procedures to gather, sort, analyze, evaluate, and distribute the needed, timely, and accurate information to marketing decision makers.” -Philip Kotler
Knowledge Constructs – 3 C’s
Customers
Competitor s
Company’s Core Competencies
Components of MIS Internal Reporting System
Marketing Research System
Marketing Intelligence System
Marketing Decision System
Example Power of suggestion – put something that someone might like in front of them and they may well be overcome by a burning desire to buy it – regardless of whether or not it will fulfill any real need.
Targeted Approach Instead of a shotgun approach, Amazon leveraged their customer data and honed its system into a high powered, laser-sighted sniper big data.
Potential Store Locations
Positioning Of Products
Profit Maximization
THANK YOU!
• • • • •
Presented by: Group 2 F002 Shubham Agarwal F024 Harshita Jhawar F027 Simran Kaur F044 Prasenajit Pande F048 Shivam Roy
What is Marketing Research? The systemic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company. - Philip Kotler
Systematic Design Collection and Analysis Reporting Relevant Findings
What is Marketing Research? HUL’s New Launch
Colgate Vedshakti
Maggie Atta Noodles
Why Marketing Research? Sales Forecasting
Customer Behaviour Pattern
WHY? Enhanced Brand Equity
Analysis of Competitors
Kodak’s Case
The Research Process
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Problem Definition
Avoid ambiguity
Be specific but not rigid
Watch for symptoms
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Research Objectives Decide what you as a researcher want to achieve
Specific
Attainable
Measureable
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Research Design Conducted when researcher EXPLORATORY does not know how and why a certain phenomenon occurs Carried out when the researcher understands the behavioral characteristics CAUSATIVE
DESCRIPTIVE
Conducted to establish the cause and effect relationship
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Sources of Data Primary Data
Secondary Data
What is Primary Data? Original data on which research is based First hand testimony concerning a topic
Presents data in its original form
ADVANTAGES
DISADVANTAGES
• Control on data collection
• Expensive • Time consuming • Researcher’s bias
Types of Primary Data Census
Sample
Collection of data from the entire population
Small unit taken from an entire population
Time consuming method of research
Conclusion drawn from sample represents population characteristics
Census vs. Sample
Sampling Procedure Random
Judgemental
Collection of data from respondents selected randomly
Researcher assesses a respondent and value of information and then decides whether to include it or not
Not every random respondent may be the target customer and hence responses may be not useful
Suffers from bias and conclusion can never be generalised
What is Secondary Data? Data collected earlier by someone other than the Data readily available from other sources
Secondary Data contd.
ADVANTAGES
DISADVANTAGES
• Economical in of cost • Time saving • Convenient • Clarify a problem
• Lack of availability • May be inaccurate • May be irrelevant
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Data Collection Techniques Observational Research Ethnographic Research
Focus Group Research Survey Research Behavioural Research Experimentation
Observational Research What a customer says? How a customer behaves? What a customer buys?
Ethnographic Research How people live and work?
Researches immerse themselves into consumers’ lives
Focus Group Research Uncover consumers’ real motivations Reasons they say/do certain things
Sample size too small
Survey Research Assess people’s preferences and satisfaction Short and Simple
Offering incentives
Behavioral Research Purchasing behavior More reliable than in-person statements
Experimental Research Subjecting customers to different treatments Controlling extraneous variables
Observe response differences
Research Instruments Questionnaire Interview Schedule Qualitative Measures
Questionnaire Set of questions presented to respondents Close-ended v/s Open-ended questions Common instrument to collect primary data
Questions should be clear and logical
Avoid sensitive questions
Keep it short, simple and interesting
Questionnaire
Qualitative Measures Indirect and unstructured Permit a wide range of responses Respondents will be less guarded
Qualitative Measures P O P U L A R M E T H O D S
Word associations Projective techniques Visualization Brand personification Laddering
Methods
Mail s
Telephone s
Personal s
Online s
Online Survey
Online Survey Happy Goat: This caramel company wanted to know if its handmade sweets would appeal to the masses. To find out, they used the online survey tool SurveyMonkey.
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
How is Data Analysed? Use of appropriate analytical tools Arithmetic and Statistical analysis
Data Analysis Example
The Research Process PROBLEM DEFINITION DEFINING RESEARCH OBJECTIVES WORKING OUT A RESEARCH DESIGN DECIDING ON DATA SOURCES DECIDING DATA COLLECTION TECHNIQUES ANALYSING DATA REPORTING AND PRESENTATION
Report and Presentation Give summary with major recommendations Defined structure of the report Humanizing data can make a interesting presentation
Report and Presentation
Making the Decision Organizations use Marketing Decision Systems to help their marketing managers make better decisions. MDDS is a system that consists of data collection and tools and techniques for analysis with ing software and hardware. This is used by the organization to gather and interpret relevant information from its environment and convert it into a basis for marketing actions.
Example
Kellogg’s introduced a brand of cereal called Crunchy Nut using the taste angle
Marketing Information System
What is MIS? “A marketing information system (MIS) consists of people, equipment’s, and procedures to gather, sort, analyze, evaluate, and distribute the needed, timely, and accurate information to marketing decision makers.” -Philip Kotler
Knowledge Constructs – 3 C’s
Customers
Competitor s
Company’s Core Competencies
Components of MIS Internal Reporting System
Marketing Research System
Marketing Intelligence System
Marketing Decision System
Example Power of suggestion – put something that someone might like in front of them and they may well be overcome by a burning desire to buy it – regardless of whether or not it will fulfill any real need.
Targeted Approach Instead of a shotgun approach, Amazon leveraged their customer data and honed its system into a high powered, laser-sighted sniper big data.
Potential Store Locations
Positioning Of Products
Profit Maximization
THANK YOU!
• • • • •
Presented by: Group 2 F002 Shubham Agarwal F024 Harshita Jhawar F027 Simran Kaur F044 Prasenajit Pande F048 Shivam Roy
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