Professional Documents
Culture Documents
MEANINGOFRESEARCH
Researchcomprises "creative work undertaken on a systematic
basis in order to increase the stock of knowledge, including
knowledgeofman,cultureandsociety,andtheuseofthisstock
ofknowledgetodevisenewapplications. Itisusedtoestablish
orconfirmfacts,reaffirmtheresultsofpreviouswork,solvenew
orexistingproblems,supporttheorems,ordevelopnewtheories.
Aresearchprojectmayalsobeanexpansiononpastworkinthe
field. To test the validity of instruments, procedures, or
experiments,researchmayreplicateelementsofpriorprojects,or
theprojectasawhole.
Inlaymanterms:
Researchisthesystematiccollection,analysisandinterpretation
ofdatatoansweracertainquestionorsolveaproblem.
OBJECTIVESOFRESEARCH
To achieve new insights/ new
facts
(Exploratory Study)
Discovering a new drug
molecule, consumer preference
for a particular product.
To define the characteristics
of a particular
individual/situation or a
group
(Descriptive Study)
Study on Eating habits of
Americans and Indians, Study
on choice of touring
destinations among males &
females
IMPORTANCEOFRESEARCH
Research is important in both scientific and
non scientific fields.
Problems, events,
phenomenon and
process
Solutions and
Suggestions
Research
Causes,
explanations
Applied
Research
RESEARCHCLASSIFICATION
Basic Research
Applied Research
Seeks Generalisation
Attempts
happen
to
explain
why
things Tries to
changed
say
how
things
can
be
Example:
Effect of vaccination on a certain
population, Factors that lead to
increasing efficiency of a
machine/system
MARKETINGRESEARCH
Itis "the process or set of processes that links the consumers,
customers, and end users to the marketer through information
information used to identify and define marketing opportunities and
problems; generate, refine, and evaluate marketing actions; monitor
marketingperformance;andimproveunderstandingofmarketingasa
process. Marketing research specifies the information required to
address these issues, designs the method for collecting information,
manages and implements the data collection process, analyzes the
results,andcommunicatesthefindingsandtheirimplications."
DEFINITIONOFMARKETINGRESEARCH
AcctoAMA:
MarketingResearchisthesystematicgathering,recordingandanalysingof
dataaboutproblemsrelatingtothemarketingofgoodsandservices.
AcctoPhilip Kotler:
Marketingresearchisasystematicproblemanalysis,modelbuildingand
factfindingforthepurposeofimproveddecision-makingandcontrolinthe
marketingofgoodsandservices.
NEED&IMPORTANCEOFMARKETING
RESEARCH
Providesvaluabledata
Studiesconsumerbehaviour
Selectspromotionaltechniques
Suppliesmarketinginformation
Evaluatesmarketingperformance
Miscellaneousneedsand
importance
FUNCTIONSOFMARKETINGRESEARCH
AIMSANDOBJECTIVESOFMARKETING
RESEARCH
The market and its structure
The market size (usually broken down by segments)
The route to market (through the value chain)
The companies that compete in the market (and
their market shares)
The numbers of consumers (again broken down by
segment)
CONT
Consumer needs and satisfaction
Factorsthattriggerthepurchaseoftheproduct(orservice)
Factorsthatinfluencethechoiceofsupplier
Theimportanceofspecificissuesontheselectionofsupplier(suchasproduct
quality,availability,price,brandetc)
Consumerssatisfactionwiththeproduct(orservice)
CONT
Product information
Productsthatarepurchased
Un-metneeds(newproductopportunities)
Attitudestonewproducts(eitherinconcept,asprototypesorintheirfinished
form)
Packagingoftheproduct
CONT
Price information
Pricesoftheproducts(listandnet)
Pricesensitivity(elasticity)oftheproduct
Valuesattachedtovariousaspectsorcomponentsoftheoffer
CONT
Promotion information
Sourcesthroughwhichconsumersandpotentialconsumersacquiretheir
informationonproductsandservices
Messagesthattriggeraninterestintheproducts/services
Attitudestodifferentadverts.includingnewadverts.
Awarenessofadvertising
Effectivenessofdifferentformsofadvertising
Readershipofdifferentmedia
CONT
Distribution information
Roleofdifferentlevelsinthevaluechain
Pricelevelsandmarginsinthevaluechain
Factorsthatpromptmerchantsanddistributorstostockproducts
Marketingandmerchandisingwithinthevaluechain
Availabilityandstockinglevelsinthevaluechain
CONT
Segmentation opportunities
Demographicsofthepopulationintermsofage,gender,incomegroup,location
Behaviourofthepopulationintermsofhowtheybuy(eg.frequencyofpurchase,
placeofpurchase,sizeofpurchaseetc)
Needsofthepopulationintermsofwhatdrivestheirselectionofasupplier(eg
oftenreferredtoasthedriversbehindthedecisionsuchasconvenience,bargain
hunters,safetyseekersetc).
CONT
Financial problem solving
Howcanwereverseafallinsales(orachieveanincreaseinsales)?
Howcanweobtainmoreprofitfromtheproduct/service?
Howcanweimprovethesatisfactionofourcustomerssothatloyaltyis
improved?
CONT
Meeting opportunities
Howcanweimproveouroffertocustomers(theproduct/service,thedelivery,
theguarantees,theservicesupportetc)?
Whatistheoptimumpriceweshouldcharge?
Howcanwesegmentthemarketsothatwecanbettersatisfycustomers
needs?
Howcanwepersuadepeopletobuyourproductswhentheyarebeing
temptedinotherdirections?
Howcanweincreaseoursalesinotherterritories?
Whichnewproductsorservicescouldweoffertoourcustomers?
CONT
Evaluation and diagnosis
Whatisthecauseofthefalloffinsalesand/orprofitability?
Whyarepeoplerejectingourproductinfavourofthosefromothercompanies?
Whatarethetriggersthatwouldcausepeopletobuyourproducts/services(or
thebarriersthatarestoppingthem)?
APPLICATIONOFRESEARCHMARKETING
Market&consumeranalysis
Productresearch
Pricingresearch
Promotionalresearch
Placeresearch