University School of Business

Department: AIT-MBA
Subject: Marketing Research and Analytics
Faculty Name : Nancy Jyani
(Assistant Professor)
Email: nancy.e14746@cumail.in

UNIT 1:MARKET RESEARCH AND ITS PROCESS

LECTURE 1: INTRODUCTION

DISCOVER . LEARN . EMPOWER

Objective of the Lecture
The objective of this chapter is to understand:
 The meaning of Marketing Research
 Significance of Marketing Research
 The difference between basic and applied research
 The various classifications of Marketing Research
 The scope of Marketing Research

MARKETING RESEARCH AND ANALYTICS 2

Some important questions
What is Marketing?
What is Research?
What is Marketing Research?
Market Research vs Marketing Research.

MARKETING RESEARCH AND ANALYTICS 3

 What is Marketing?
Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering,
and exchanging offerings that have value for
customers, clients, partners, and society at large
-(American Marketing Association)

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 What is Research?
Research is an activity that leads us to finding new facts, information, assisting us in verifying the
available knowledge and in making us question things that are difficult to understand as per
existing data.
The word research is derived from the Middle French ―recherche, which means ―to go about
seeking
Research is a structured enquiry that utilizes acceptable scientific methodology to solve
problems and create new knowledge that is generally applicable.

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What is Marketing Research?
Marketing research (also called consumer research) is a form of business
research. The field of marketing research as a statistical science was pioneered by
Arthur Nielsen with the founding of the ACNielsen Company in 1923.

Kotler (1999) defines
marketing research as
systematic problem
analysis, model-building
and fact-finding for the
purpose of improved
decision-making and
control in the marketing
of goods and services‘.
The American Marketing
Association (AMA, 1961)
defines it as the
systematic gathering,
recording and analyzing
of data relating to the
marketing of goods and
services‘.
Green and Tull have defined
marketing research as the
systematic and objective
search for and analysis of
information relevant to the
identification and solution of
any problem in the field of
marketing.

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 Market Research vs Marketing Research
Market Research: Market Research involves researching a
specific industry or market (geography including virtual markets).
Ex: Researching the automobile industry to discover the number
of competitors and their market share.

Marketing Research: Marketing Research analyses a given

marketing opportunity or problem, defines the research and
data collection methods required to deal with the problem
or take advantage of the opportunity.
It is a more systematic method which aims to discover the
root cause for a specific problem within an organisation and
put forward solutions to that problem.
Ex: Research carried out to analyze and find solution for
increasing turnover in an organisation.

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The Importance of Market Research
 Identifies new products and services
 Identifies potential customers
 Establishes product or service viability
 Reduces risk and enhances profitability
 Helps to understand existing customers
 Helps set realistic goals

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Research can be classified into two broad
categories:
BASIC RESEARCH APPLIED RESEARCH

 Basic research is also called fundamental or  Applied Research is carried out to seek alternate
pure research.
 It is not carried out in response to a
problem.
 It is more educative, towards understanding
the fundamentals and aim at expanding the
knowledge base of an individual or
organisation.
 It does not have any commercial potential
solutions for a problem at hand.
 Further divided into:
1. Problem-oriented research: It is undertaken inside the
organization or by an external consultant on its behalf.
This research is conceptual in nature. Problem
identifying researches are undertaken to know the
exact nature of problem that is required to be solved.
Ex: Why the sales of the company is declining in a
particular year?
2. Problem-solving research: In problem-solving we focus
on finding a solution to an already identified problem.
Ex: How do we improve the degrading brand loyalty of
our new launched product?

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 Scope of marketing research:
Marketing research can be used in:
1. Product Management: to manage the current products and new products. In product
management Marketing Research is helpful in
-Competitive Intelligence – To understand the competitive product strategy.
-Prelaunch strategy for new products
-Test Marketing – To monitor the performance of the brand by launching in a select area and then taking it across the
country.
-Concept testing - to test the acceptance of a concept by target consumers.
2. Sales analysis: Marketing research is used to study the sales trend and make suitable strategies when required. It is used to
assess market potential.
-Estimation of demand for a product
-Market share estimation
-Study seasonal variation for a product
-Market segmentation studies
-Estimate size of the market
-Need analysis to find out where the product fits in

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 Scope of marketing research (Cont.):
3. Corporate Research: Marketing Research is used to analyse the corporate effectiveness. Some
examples are:
-Assessing the image of the company
-Knowledge of the company activities
5. Advertising Research:
-Readership feedbacks – Mainly carried out for newspapers and
magazines
-Advertising Recall – To assess the recall of television or other
advertising and thereby assess its effectiveness.

6. Syndicated Research: This is compiled by agencies on a regular basis and sold to organisations on
subscription basis.

All of these forms of marketing research can be classified as either problem identification research or as
problem-solving research.

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Some examples
Asian Paints' Color Research:
Asian Paints, a leading paint manufacturer,
invests in extensive color research to identify
emerging color trends and consumer
preferences. This research has helped them
introduce innovative color palettes and
products that cater to the diverse Indian
consumer base.
MARKETING RESEARCH AND ANALYTICS
Hindustan Unilever Limited (HUL):
HUL, one of India's largest consumer goods
companies, has a history of conducting
comprehensive market research to identify
market trends and consumer demands. This
research has guided the development and
marketing of several successful products
across various categories, including personal
care, home care, and food products.
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