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Anmol Jain

This document discusses the key steps in marketing research: 1. Defining the problem and research objectives 2. Developing a research plan to collect necessary information efficiently 3. Implementing the research plan by collecting, processing, and analyzing data using various research approaches and instruments It also discusses interpreting and reporting findings to management in a way that draws meaningful conclusions and recommendations supported by the data.

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PRESENTED BY- ANMOL JAIN
The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Company use marketing research in a wide variety of situations.
Defining the problem and research objectives Developing the research plans Implementing the research plans Interpreting and reporting the findings
The manager best understands the decision for which information is needed, whereas the researcher best understands marketing research and how to obtain information. It involve three type of objectives- 1. Exploratory research 2. Descriptive research 3. Casual research
2. DEVELOPINGTHE RESEARCH PLAN FOR COLLECTING INFORMATION
 This step includes-  Determination of exact information  Developing a plan to gather it efficiently  Presenting the plan to management It also includes outlining the source of existing data and spells out the specific research approaches, contact method, sampling plan that researcher will use to gather data.
 Red bull wants to conduct research on its new proposed vitamin – enhanced water drink that would be available in several flavors.  The proposed research might call for following information-  The demographic lifestyle characteristics  Usage pattern of population  Retailer reaction  Forecast of sale of both new and current Redbull products.
SECONDARY DATA It will include –  Company’s internal database  External information sources-  Buy secondary data from outside suppliers- Nielsen, Experian Simmons  Free secondary data-industry association, government agency, business publication and news medium offers information.  Internet
ADVANTAGES  Secondary data is less expensive and less time consuming.  It provides data that individual company cannot collect on its own DISADVANTAGES  May not meet the needs of researchers  All data may not be available  The accuracy of data is not known
marketing
Research Approaches Experimental (Eg McDonalds) Observational (Eg Walmart) Ethnographic (Eg P&G $2-a- day) Netnography (Eg Amazon) Survey (Eg. New Cigarette)
marketing
marketing
Sampling Procedures Probabilistic Simple Random Stratified Random Cluster (Area) Non- Probabilistic Convenience Judgment Quota
Questionnaires Close-end/Open-end Mechanical Instruments Neuromarketing (MRI, EEG) PepsiCo + NeuroFocus = Cheetos Response to offers, Satellite Systems Research Instruments
 IT INVOLVES THE IMPLEMENTATION OF THE RESEARCH PLAN  IT ENSURES CORRECT COLLECTION,PROCESSING AND ANALYSIS  IT GUARDS AGAINST PROBLEMS OF INTERACTION,QUALITY OF RESPONSES,MISTAKES AND SHORTCUTS
IT BASICALLY INVOLVES THE FOLLOWING : INTERPRETING THE FINDINGS DRAWING CONCLUSIONS REPORTING TO MANAGEMENT
 INTERPRETATION SHOULD NOT BE LEFT TO RESEARCHERS ALONE  MARKET MANAGER SHOULD ALSO DO INTERPRETATION ON THE BASIS OF THE PROBLEM HE/SHE FACES  IT SHOULD NOT BE BIASED OR IN CONSISTENCE WITH WHAT THE MANAGEMENT WANTS
 IT INVOLVES GIVING LITERAL MEANING TO THE INTERPRETED OR TABULATED DATA AT HAND  FOR EXAMPLE :DATA TELLS US THAT 6 OUT OF 10 PEOPLE IN PARIS OWN AN ELECTRIC CAR WHEREAS ONLY 2 OUT OF 10 PEOPLE OWN AN ELECTRIC CAR IN ISLAMABAD  THE CONCLUSION WE DRAW IS THAT THERE IS HIGHER DEMAND FOR ELECTRIC CARS IN PARIS THAN IN ISLAMABAD
 FINDINGS SHOULD BE INFORMED TO DECISION MAKERS IN A WAY IN WHICH IS UNDERSTANDABLE TO THEM  BACK YOUR RECOMMENDATIONS WITH STATISTICAL DATA COLLECTED  PROVIDE SOLUTIONS WHICH ARE IMPLEMENTABLE
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  • 2. The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. Company use marketing research in a wide variety of situations.
  • 3. Defining the problem and research objectives Developing the research plans Implementing the research plans Interpreting and reporting the findings
  • 4. The manager best understands the decision for which information is needed, whereas the researcher best understands marketing research and how to obtain information. It involve three type of objectives- 1. Exploratory research 2. Descriptive research 3. Casual research
  • 5. 2. DEVELOPINGTHE RESEARCH PLAN FOR COLLECTING INFORMATION
  • 6.  This step includes-  Determination of exact information  Developing a plan to gather it efficiently  Presenting the plan to management It also includes outlining the source of existing data and spells out the specific research approaches, contact method, sampling plan that researcher will use to gather data.
  • 7.  Red bull wants to conduct research on its new proposed vitamin – enhanced water drink that would be available in several flavors.  The proposed research might call for following information-  The demographic lifestyle characteristics  Usage pattern of population  Retailer reaction  Forecast of sale of both new and current Redbull products.
  • 8. SECONDARY DATA It will include –  Company’s internal database  External information sources-  Buy secondary data from outside suppliers- Nielsen, Experian Simmons  Free secondary data-industry association, government agency, business publication and news medium offers information.  Internet
  • 9. ADVANTAGES  Secondary data is less expensive and less time consuming.  It provides data that individual company cannot collect on its own DISADVANTAGES  May not meet the needs of researchers  All data may not be available  The accuracy of data is not known
  • 11. Research Approaches Experimental (Eg McDonalds) Observational (Eg Walmart) Ethnographic (Eg P&G $2-a- day) Netnography (Eg Amazon) Survey (Eg. New Cigarette)
  • 15. Questionnaires Close-end/Open-end Mechanical Instruments Neuromarketing (MRI, EEG) PepsiCo + NeuroFocus = Cheetos Response to offers, Satellite Systems Research Instruments
  • 16.  IT INVOLVES THE IMPLEMENTATION OF THE RESEARCH PLAN  IT ENSURES CORRECT COLLECTION,PROCESSING AND ANALYSIS  IT GUARDS AGAINST PROBLEMS OF INTERACTION,QUALITY OF RESPONSES,MISTAKES AND SHORTCUTS
  • 17. IT BASICALLY INVOLVES THE FOLLOWING : INTERPRETING THE FINDINGS DRAWING CONCLUSIONS REPORTING TO MANAGEMENT
  • 18.  INTERPRETATION SHOULD NOT BE LEFT TO RESEARCHERS ALONE  MARKET MANAGER SHOULD ALSO DO INTERPRETATION ON THE BASIS OF THE PROBLEM HE/SHE FACES  IT SHOULD NOT BE BIASED OR IN CONSISTENCE WITH WHAT THE MANAGEMENT WANTS
  • 19.  IT INVOLVES GIVING LITERAL MEANING TO THE INTERPRETED OR TABULATED DATA AT HAND  FOR EXAMPLE :DATA TELLS US THAT 6 OUT OF 10 PEOPLE IN PARIS OWN AN ELECTRIC CAR WHEREAS ONLY 2 OUT OF 10 PEOPLE OWN AN ELECTRIC CAR IN ISLAMABAD  THE CONCLUSION WE DRAW IS THAT THERE IS HIGHER DEMAND FOR ELECTRIC CARS IN PARIS THAN IN ISLAMABAD
  • 20.  FINDINGS SHOULD BE INFORMED TO DECISION MAKERS IN A WAY IN WHICH IS UNDERSTANDABLE TO THEM  BACK YOUR RECOMMENDATIONS WITH STATISTICAL DATA COLLECTED  PROVIDE SOLUTIONS WHICH ARE IMPLEMENTABLE