MARKETING RESEARCH PPT.ppt
- 1. 1-1 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Introduction and Early Phases of Marketing Research BHAGYASHRI NAGAWADE TYBBA SEM V
- 2. 1-2 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Redefining Marketing Research The American Marketing Association (AMA) redefined Marketing Research as: The function that links the consumer, the customer, and public to the marketer through INFORMATION
- 3. 1-3 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Used to identify and define market opportunities and problems Generate, refine, and evaluate marketing performance Monitor marketing performance Improve understanding of marketing as a process Redefining Marketing Research
- 4. 1-4 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Definition of Marketing Research Marketing research is the systematic and objective identification collection analysis dissemination and use of information For the purpose of improving decision making related to the identification and solution of problems and opportunities in marketing
- 5. 1-5 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Market Research • Specifies the information necessary to address these issues • Manages and implements the data collection process • Analyzes the results • Communicates the findings and their implications • Helps managers use this information to make decisions
- 6. 1-6 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Classification of Marketing Research Problem-Identification Research • Research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research. Problem-Solving Research • Research undertaken to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.
- 7. 1-7 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall A Classification of Marketing Research Marketing Research Problem Identification Research Problem-Solving Research Market Potential Research Market Share Research Market Characteristics Research Sales Analysis Research Forecasting Research Business Trends Research Segmentation Research Product Research Pricing Research Promotion Research Distribution Research Fig. 1.1
- 8. 1-8 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Problem-Solving Research Determine the basis of segmentation Establish market potential and responsiveness for various segments Select target markets Create lifestyle profiles: demography, media, and product image characteristics SEGMENTATION RESEARCH Test concept Determine optimal product design Package tests Product modification Brand positioning and repositioning Test marketing Control score tests PRODUCT RESEARCH Table 1.1
- 9. 1-9 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Problem-Solving Research Table 1.1 cont. PRICING RESEARCH Pricing policies Importance of price in brand selection Product line pricing Price elasticity of demand Initiating and responding to price changes $ALE PROMOTIONAL RESEARCH Optimal promotional budget Sales promotion relationship Optimal promotional mix Copy decisions Media decisions Creative advertising testing Evaluation of advertising effectiveness Claim substantiation 0.00% APR
- 10. 1-10 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Problem-Solving Research Table 1.1 cont. DISTRIBUTION RESEARCH Determine… Types of distribution Attitudes of channel members Intensity of wholesale & resale coverage Channel margins Location of retail and wholesale outlets
- 11. 1-11 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Marketing Research Process Step 1 : Problem Definition Step 2 : Development of an Approach to the Problem Step 3 : Research Design Formulation Step 4 : Fieldwork or Data Collection Step 5 : Data Preparation and Analysis Step 6 : Report Preparation and Presentation
- 12. 1-12 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Marketing Research Process Step 1: Defining the Problem Step 2: Developing an Approach to the Problem Step 3: Formulating a Research Design Step 4: Doing Field Work or Collecting Data Step 5: Preparing and Analyzing Data Step 6: Preparing and Presenting the Report
- 13. 1-13 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall The Role of Marketing Research Controllable Marketing •Product •Pricing •Promotion •Distribution Variables Marketing Research Marketing Decision Making Providing Information Assessing Information Needs Marketing Managers • Market Segmentation • Performance & Control •Target Market Selection • Marketing Programs Uncontrollable Environmental Factors • Economy • Technology • Laws & Regulations • Social & Cultural Factors • Political Factors Fig. 1.2 • Consumers • Employees • Shareholders • Suppliers Customer Groups
- 14. 1-14 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall Management Information Systems Vs. Decision Support Systems Unstructured Problems Use of Models User Friendly Interaction Adaptability Can Improve Decision Making by Using “What if” Analysis DSS MIS Structured Problems Use of Reports Rigid Structure Information Displaying Restricted Can Improve Decision Making by Clarifying Data Fig. 1.6
- 15. 1-15 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall THANK YOU !!!