Assignment no.

- 1

Name: Shardul Sunil Gondhali

Roll No.: 48
Division: A1M
Semester: IInd
Subject: Marketing Research
Q1. Discuss the subject matter of Marketing Research
According to American Marketing Association, “Marketing Research is
the function that links the consumer, customer 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.”
Market research is systematic problem analysis, model building and fact
finding for the aim of important deciding and control within the marketing of
products and services. market research may be a well-planned, systematic
process which means that it needs planning in the least the stages. It
uses methodology. it's an objective process because it attempts to supply accurate
authentic information. market research is usually defined because the application
of methodology within the solution of selling problems. market research plays a
really significant role in identifying the requirements of consumers and meeting them
in absolute best way. the most task of selling Research is systematic gathering and
analysis of data. Before we proceed further, it's essential to clarify the connection and
difference between market research and Marketing data system (MIS). Whatever
information are generated by market research from internal sources, external sources,
marketing intelligence agencies-consist of a part of MIS.
Market research is important for strategic market planning and deciding.
It helps a firm in identifying what are the market opportunities and constraints, in
developing and implementing market strategies, and in evaluating the effectiveness of
selling plans. market research may be a growing and widely used commercial
activity because the sellers got to know more about their final consumers but are
generally widely separated from those consumers. market research may be a necessary
link between marketing decision makers and therefore the markets during which they
operate. market research includes various important principles for generating
information which is beneficial to managers. These principles relate to the timeliness
and importance of knowledge, the importance of defining objectives cautiously and
clearly, and therefore the got to avoid conducting research to support decisions already
made.

Q2. Discuss Marketing Research Proposal.

When a dissertation is represented during a short and precise
form it's referred to as a search proposal. For conducting a specific research, a
researcher must be approved from an approving or sponsoring authority. How long
with permissions to conduct the research, such authorities also provide support to the
researchers.
A researcher gains such permissions by submitting his research proposal, preparing a
search proposal of any thesis is considered because the most difficult task to perform.
 Research proposal is that the blueprint of research study, which depicts the
most aspect of the research within the sort of research design. A search er deliberately
prepares a research proposal to represent the aims and objectives of his research study
to the authorities. Its main objective is to prove the committee that the researcher has
performed a useful research study, which can significantly update present blanks of
educational knowledge. Research proposal may be a return description of the
elemental plan for any scientific research. It explains the rationale that way specific
issues must be resolved and what's suitable research design should be chosen to look
at them. It explains the why what where when and at what cost is that
the researcher getting to undertake a search project. When a researcher performs a
qualitative research, the research proposal is of flexible nature because the techniques
involved within the research tend to develop and evolve. On the opposite hand, when a
researcher performs a quantitative research study, the research proposal is
relatively inflexible because the data used for conducting the research is
typically fixed and permanent. Purposes of the market research proposal are
preventing distraction from actual topic, to convince others, to focus and define
research plans etc.
Market research proposal are internal proposal and external proposal. The
proposals that are prepared within workplace or organization and present it to its top
management for funding and approval are referred to as internal proposals. And
external proposals are the proposals which are prepared within workplace or
organization and are directed towards external customers, funding agencies and other
organizations. Outline of selling research proposal includes background, basic problem
or opportunity, objectives, research design and data requirements, data collection
methods, data collection instruments, population definition, sample plan, sample size,
sampling methodology, statistical analysis, cost estimates, timelines an appendix.
Q3. Discuss the use of Statistical techniques in Marketing Research.
Statistical techniques are one among the simplest analytical tool to
research the date. With this set of techniques, it's possible to seek out relationships
between two variables, either by cause and effect, association, or dependence; it also
allows to work out if the means between two groups differ or are equal and to predict
variables. the most tool want to perform the analysis is that the contingency table or
cross table, which relates absolutely the frequencies of both variables. From this
configuration it's possible to work out percentages in each category of answers, by
rows or columns, supported the entire, among other calculations. within the inferential
area, different tools are wont to compare different hypotheses about the association or
relationship between two categorical variables, a number of the foremost relevant of
which are listed below.
Chi Square test of independence

When two categorical variables are had it's possible to work out if there
exists some sort of relation or association between these. it's necessary to think
about that this tool only indicates the association or independence between two
categorical variables, it doesn't inform about the direction, nor the magnitude of this
relation; additionally, the worth or frequency observed of the cells within
the contingency table must be greater than 5 in a minimum of 80% of the cells, in
order that the test works correctly. Its application can have multiple
purposes consistent with the objectives, hypotheses and questions that are raised, for
instance, the intensity of flavor of a product and therefore the gender.

Linear correlation

To determine the degree of association of two variables it's possible to use three
statistical tools that provide information on the magnitude of the connection between
two data sets, these are the Pearson coefficient of correlation (r) commonly used for
continuous quantitative variables, the Spearman coefficient of correlation (Rho) used
when categorical ordinal variables are involved and therefore the Cramer V coefficient
when nominal variables are used, these coefficients measure an equivalent .
Tests to match means from two groups

T Student Test: the aim of this test is to verify that the typical of 1 group is
significantly different from the opposite. the info used must meet the wants of a)
Normality in data distribution b) Independence and randomness in sample observations
c) Sample sizes greater than n > 30 and d) Homoscedasticity (homogeneity of
variances). This test applies different formulas within the case of two independent
samples, for instance within the collection of knowledge from men and ladies during
a questionnaire, or if they're paired or related samples when for instance before and
after data are available in experimental designs.

Mann Whitney U-Test: This test is considered the non-parametric alternative to the T
Student test, i.e., when it's impossible to verify the required parametric
assumptions, it's recommended to use this statistic. As a non-parametric test, it's more
flexible in terms of the assumptions to be met and, in terms of interpretation, gives an
equivalent result because the T Student.

ANOVA analysis of variance

it's common to present cases where it's necessary to contrast the typical of quite two
groups, under this assumption it's not convenient to use the T Student test since it
might require more effort within the calculation and would increase the probability of
falling into type I errors. To avoid these situations, the simplest option is to use the
ANOVA analysis tool. This parametric test contrasts the null hypothesis that the
means of quite two groups are equal or if they differ, where the variable to be studied
or factor contains several categories or groups. it's important to notice that for the
appliance of this test it's necessary that the assumptions of the parametric tests
mentioned within the T Student section of this document are met.
Q4. Discuss Market Segmentation and positioning.
Market Segmentation
The process of segmentation is all about identifying distinctive and customary traits
between people within the market, which allows us to develop far more relevant and
interesting marketing campaigns. If we will use audience insights to spot a
selected desire or need during a group of individuals within the market, we'll be ready
to focus our message and deliver it during a way that features a much stronger impact
than broader marketing campaigns. In fact, in saturated and mature markets, we may
even discover new opportunities, highlighting unique benefits to a segment that wasn’t
catered to by anyone else. But what sorts of segmentation variables can we use for
segmentation. a number of the foremost common segmentation variables include:

• Demographics: age, gender, legal status, ethnicity, etc.

• Geography: city, region, country, climate, etc.
• Psychographics: personality traits, habits, attitudes, etc.
• Values: politics, religion, cultural beliefs, identifications, etc.
• Life Stages: work status, education status, retirement, etc.
• Behaviors: purchases, interests, clicks, browsing data, etc.

These are just a few of the chances for segmenting our audience, but they ought
to provide a reasonably good start line for what we should always check out.

Market Positioning

Market positioning may be a strategic exercise we use to determine the image of a

brand or product during a consumer’s mind. this is often achieved through the four Ps:
promotion, price, place, and merchandise. The more detailed our positioning strategy
is at defining the Ps, the simpler the strategy are going to be. Finally, consider
positioning opportunities which will help us answer an unmet need or desire in our
market that your product can fulfill. Since we've tangible data about what segments of
our audience desire, we will use those insights to position our product and develop a
singular selling proposition, presenting the proper message at the proper time. Using
customer segmentation models, we will completely revamp our product positioning
and center our campaign round the most pressing problem that our audience is facing.
With a segmented and specifically targeted audience, our product positioning can
have a way stronger impact, helping our message stand call at a crowded marketplace.

A few examples are positioning by:

Customer needs- Knowing your target market and the way you'll fulfill their specific
needs.
Product price- Positioning your brand/product as competitively priced
Product quality- Positioning your brand/product as top quality
Product use and application- Associating your brand/product with a selected use
Competitors- Positioning your brand as better than your competitors

Q5. Discuss the Primary data collection method and complexities of data
collection.

Data collected by the researcher himself for finding the solution of a particular problem or
situation is known as primary data. This type of data is characterised by its originality as it
is freshly collected. Where is organisations conduct surveys, observations, interviews etc.
And a result generates primary data. To conduct any research effectively and produce
valid results, researchers should collect primary data as it contains current and exact
information about the incident or event. One of the major benefits of primary data is that
it's validity in reliability can be verified by other experts. There are many methods of
collection of primary data

Survey: This technique is one of the most common a widely used technique for collecting
primary data survey can be conducted using various methods such as using mails,
telephones, Internet, face to face etc.
Interview: It is the exchange of ideas which takes place between two or more people with
the purpose of getting information from the respondent. Interview can be conducted
through various methods such as personal interview, telephone interview, mail interview,
panel interview etc.
Observation: Another technique for gathering primary data is observation. When the
researcher recorded information about a person, organisation, or situation, without making
any personal contact it is known as observation method. In this the researcher or the field
executive observes the activity of concerned person organisation, to draw a pattern of
behaviour.
Experimentation: An important method to collect primary data is experimentation. In
experimentation, the casual relationship is determined by analyse between variables. We
have other methods also like warranty cards, auditing, and simulation.

The complexities or disadvantages of primary data collection are as follows

Costly affair- Primary data collection is an expensive task. Different activities like
selecting type of technique, preparing questions, and hiring trained professionals for
collecting information or observing targets etc.

Time consuming: Collecting primary data effectively takes more time. Developing
research plan, deciding sources of information, and selecting the methods of data
collection are time consuming activities

Invisible sometime: Primary data considered to be reliable source of information but

sometimes it is not easy task to collect the primary data as the source of information may
not be in the reach of researcher or may incur huge amount of money.

Huge quantity of data: Sometimes data collected through primary sources are in huge
quantity. This large volume of data leads to confusion about the accuracy of information

Unwillingness to answer: Sometimes, participants do not cooperate in data collection by

showing unwillingness to answer or by giving wrong information.