Vinayak Kumar Lal Director - Spring Board Producer Full Circle

Introduction:

Definition of Marketing Research, Objective of Marketing Research, Application of Marketing Research, Limitation of Marketing Research, Marketing Research during different phases of the administrative process. Marketing Information System: Concept, Need for Marketing Information System, Process of Marketing Information System, Components of Marketing Information System.

The academics part

Today Ppt + notes will be mailed

The knowledge Part

Part of discussion debate and todays ppt

 The

field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.

 Marketing

research is "the function that links the consumers, customers, and public to the marketer through information
information used to identify and define marketing opportunities and problems generate, refine, and evaluate marketing actions monitor marketing performance and improve understanding of marketing as a process.

 Marketing

research = Marketing + Research Marketing = Creating and delivering value for profit Research = Re + Search

Three type of searches

Exploratory

or Formulative (when the problem in

not known) Descriptive (When you know the problem but not defined or specific nature) ( seriousness of the problem) Experimental : when you know the problem and solution too Then why experimental = To find alternate solutions

 When the problem is not known? Always prefer secondary data Various company reports Media reports Case studies Reports from industrial associations like CII,

FICCI, PHD chambers of commerce World News monitor Google Research Papers from the sites like Emerald insight, Scopus, Ebsco, American Cable society etc.
ONGC : Oil exploration

I want to be into the business but dont know what

Case : Maruti Manesar Plant

 The

results of exploratory research are not usually useful for decision-making by themselves, but they can provide significant insight into a given situation. Means The objective of exploratory research is to gather preliminary information that will help define problems and suggest hypotheses Nothing to with demographics

 Also

known as statistical research When the problem is known (secondary data is preferred)
Nature of problem Intensity Seriousness Swot analysis Situation Constraint Resources available

I know that this business suits me. So let me dive on macro level

 Although the data description is factual, accurate and systematic, the research cannot describe what caused a situation. describes data and characteristics about the population or phenomenon being studied How , When Why part is not captured in this research
( to explain with few examples) Change in technology Changes in motives and aspiration Change in behaviour ( with examples of yesteryears and today)

 Need

to find alternate solutions Cause and effect relationship

set of factors (causes) and a

phenomenon (the effect)

I need to have options to pick and choose

 To

gain awareness with a observable fact or to achieve new insights into it To show accurately the characteristic of a particular individual situation or a group To determine the frequency with which something occurs or with which is associated with something else To test a hypothesis of a casual relationship between variables

 Dynamism

of market (credit card case) Data / information search

Market data Dealers distributor Key Consumer data Competitor data Vendors data Global market data

The PESTEL Framework Political & Bureaucratic Context Economic Context Social & Cultural Context Technological Context Environmental & Ecological Context Legal & Judicial Context

180 km market

Product research

New product development ( to discuss with wrt to categories) Explore global market April and September (Ningbo Fair) Brand Research
Origin of brand Identifiers IPR ( Intellectual property right)

Packaging research
Material size Primary Secondary Tertiary

(spark shoes loosing to bata) Chetan bhagat and 3 idiots)

 Price

research : Price is the most important factor in success of the firm

The Right price which a target segment is willing to

pay Elasticity Price Value - brand

 Media

research :

The choice of alternative media Media Mix ( combination of media)

Ad

Concept Test popularly known as Adcept (to explain) Copy testing (To explain) Advertising research Communication response tracking

 Channel

type and nature Margins in the category Nature of scheme etc. Effectiveness of sales force and scope of improvement

Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviours of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns.

 Qualitative

marketing research and Quantitative marketing research

 The

goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behaviour.
(To discuss how marketing forces consumer to behave)

 Thus,

marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing with respect to changing environment.

 The

task of marketing research (MR) is to provide management with

relevant, accurate, reliable, valid, and current

information. Competitive marketing environment and the everincreasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment.

Definition : A marketing information system is an ongoing and interacting structure of

people, equipment, equipment, in form of hardware and software and procedure to gather, sort analyze, evaluate and distribute

Concept :

relevant, timely accurately information for use by marketing decision makers to improve their market planning execution and control

Firms are engaged in understanding their executives information

needs and designing information systems to meet these needs. This information system has to stock data related to the persons interacting with each other markets, channels, competitors, publics, internal support system and the marketing decision makers.

 DBMS : ( data based management system) procedures to

Captures

the internal company records, marketing intelligence activities, and marketing research. Its a question of what marketing managers , really need, and whats economically viable
Search engines : Alibaba,

gather, sort, analyze, evaluate, and distributed needed timely accurate information to marketing decision makers Process and Policy Integration with other systems Traffic Management : Profile and nature of information to be shared. Reports : Daily , Weekly, Fortnightly, Monthly, Quarterly, Half yearly and annually

 Internal

Reports : Intelligence :

This refers to the inter accounting systems with reports

on issues such as sales and orders

Marketing

This subsystem provide all information about the

relevant development in the marketing environment

The order to payment cycle Sales Information system Data bases, Data ware housing, data mining Marketing Intelligence system
Train and motivate the sales force to spot and report new

developments Motivate distributors, retailers, and other intermediaries, to pass along important intelligence Network externally Set up a customary advisory panel Take advantage of government data resources Purchase information from outside suppliers Use online customer feedback systems to collect competitive intelligence

A system frame work facilitates the conversion of raw data into processed and meaningful information Help in organising the information in an indicative pattern or manner, ensuring an integrative, decision oriented and smooth operation of all marketing activities The marketing job involves the same marketing information which can be interpreted and used for a variety of marketing decisions.

When a systems framework is established it is possible to retrieve the

A systems framework of marketing information will help in the classification of the information according to the purpose.
Eg information for planning and forecasting, for general marketing

same information as and when required in the desired systematic manner

Marketing information can be classified according to the content matter in term of product, consumer, competition, sales volume etc.

operations, information for marketing contact etc.

Marketing managers make numerous strategic and tactical decisions in the process of identifying, satisfying customer needs and wants They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs These decisions are complicated by interactions between the controllable marketing variables of product, pricing, promotion, and distribution. Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes. Another factor in this mix is the complexity of consumers.

Its helps marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, consumers' response to marketing programs cannot be predicted reliably or accurately. Ongoing marketing research programs provide information on controllable and non-controllable factors and consumers; this information enhances the effectiveness of decisions made by marketing managers.[

The data system :

The data system includes the processes used to capture data as where as the methods used to store data coming from marketing, finance, the sales force, and manufacturing as well as any other external or internal source When managers look at data they have preconceived ideas of how

Models

The interface

something works therefore what is interesting and worth while in the data. These ideas are called models The most frequent tools for analyzing marketing research data are, frequencies, percentage, Tables, and comparing different groups
The interface using the system models to produce reports that satisfy

the particular information needs. The reports can be tables or graph and the report format can be specified by the manager. It facilitates user friendliness, reduce errors and increase usage

MR) is not an exact science though it uses the techniques of science. Thus, the results and conclusions may not very accurate. Humans have a tendency to behave artificially when they know that they are being observed. Thus they behave artificially when they are aware that their attitudes, beliefs, views, etc are being observed. MR is not a complete solution to any marketing issue as there are many dominant variables between research conclusions and market response. MR is not free from bias. The reproduction of the same project on the same class of respondents give different research results. Inappropriate training to researchers can lead to misapprehension of questions to be asked for data collection. Many business executives and researchers have ambiguity about the research problem and its objectives There is less interaction between the MR department and the main research executives. The research department is in segregation. This all makes research ineffective. MR faces time constraint. Huge cost is involved in MR as collection and processing of data can be costly

 While

Settings and establishing strategies While developing marketing plan While putting the plan into action Evaluating the effectiveness of the marketing plan

Market
Information

Marketing Information

Consumer Information

Decision is better

Reach Me for queries and suggestion vinayak_lal@yahoo.com M : 995894444 6