MARKETING RESEARCH

• Definition
• Objective
• Marketing and Market Research
• Need
scope
• Advantages
• Limitations
• Process
Marketing Research-Definition
•Marketing research is the
intelligence service of a business
enterprise.
•Definition by AMA
•“the gathering, recording and
analyzing of all data about
problems relating to the transfer
and sale of goods and services
from producer to consumer.”
Objective-Marketing Research
– To know the demographics and
psychographics of customers:-
Marketing research tries to reveal
the number of persons who buy,
why they buy, when they buy, the
frequency of their buying, and the
sources of their buying. It also
includes the social status and the
regional location of the customers.
– To find out the impact of
promotional efforts.
– To know customer response to a
new product.
– To probe ‘what went wrong’.
Marketing Research and
Market Research
•Market research is the gathering, recording
and analyzing of market data to identify the
present and potential customers and their
motives and buying habits. It is the discovery
of the capacity of the market to absorb the
products of a firm.

• It is a part of the marketing research. It is

worthwhile to quote Richard D.Crips to
identify clearly the scope of Marketing
research and market research.

•“Marketing research is the systematic,

objective and exhaustive search for the study
of the facts relevant to any problem in the
field of marketing.
 Need
Market research may be conducted for the
following reasons:-

3. To identify the present and potential

customers and their needs.
4. To forecast the demand of a product.
5. To determine customers preferences
with regard to packaging, design, size,
price and other features of a product.
6. To locate the demand for products
with regard to time and place, such as
festival demand.
7. To explore new markets for existing
products.
SCOPE OF MARKETING
RESEARCH

Product Research
Customer Research
Sales Research
Promotion Research
 Advantages
Forecasting.
Assessing Product Acceptance
Rightful Promotion.
Understanding New Markets.
Overall Business Direction.
Assessment of Middlemen
Limitations of Marketing
Research
• Huge Expenditure.
• Bias in Collecting Data.
• Unpredictable Human Behaviors.
• Requires Intelligent Handling.
• Supplementary, Not Substitute.
• Requires Competent Researcher
• No time Gap Allowed Between
Research and its Implementation.
 THE MARKETING
RESEARCH PROCESS
• Define the Problem
• Developing the Research Plan
Data sources (Primary/Secondary)
Questionnaire
Personal Interview
Telephone Survey
Salesmen
Dealers
Consumers
Observation
Sources of Secondary Data(Press, Publications of
tradeAssociations,Govt, RBI, Financial institutions,
foreign governments etc)
3. Sampling Plan
4. Data Collection
5. Data Analysis
6. Marketing Research Report
 DEFINE THE PROBLEM
• The starting point calls for the
Marketing Manager and marketing
researcher to define the problem
carefully and agree on the research
objectives. The problem should be
defined and written down with full
clarity. A problem well defined is half
solved
 DEVELOPING THE RESEARCH
PLAN
• The Marketing Manager needs to know
the cost of research plan before
approving it. Designing research plan
calls for decisions on the data sources,
research approaches, research
instruments, sampling plans and
contact methods.
•
 Data sources
• In order to conduct marketing research,
the marketing research department may
collect information from various sources
which may be either primary or secondary.
 PRIMARY DATA
• The primary source of data refers to the first
hand original data collected by the
investigators through observation,
experimentation, and field survey. The
information may be collected directly from
the customers, dealers and salesmen.
• Researchers usually start their investigation
by examining secondary data to see whether
their problem can be partly or wholly solved
without collecting costly primary data.
 Sources of primary data
• Questionnaire-
• Surveys with the help of a questionnaire can be conducted in
the following ways
• (1) Personal Interview
• (2) Through mail
• (3) Telephone.

• Other methods-
• (4) Salesmen
• (5) Dealers
• (6) consumers
• (7) Observation
 SECONDARY DATA
• The secondary data include facts and figures
which are already collected by other
individuals and institutions. The sources of
secondary data include publications of
Government, private institutions like Trade
Associations and Chambers of Commerce,
international institutions like the
International Monetary Found and the World
Bank, and data collected by other research
agencies, etc.
Sources of Secondary Data

- Press
– Publications of Trade Associations
– Government Publications.
– Publications of Reserve Bank of India and
Financial Institutions
– Publications of private individuals,
companies and research institutes
– Foreign Government and International
Agencies
•
 Sampling Plan
• After deciding on the research
approach and instruments, the
marketing researcher must design a
sampling plan
• Sampling unit-who is to be surveyed
• Sample size-How many people to be
surveyed
• Sampling procedure-how should the
respondents be chosen
 3 - Data Collection
•
• Data collected from
market/customer/sample
surveys are submitted to
experts for analysis
•
 4 - Data Analysis
• The data analysis process
involves the use of appropriate
statistical techniques in order to
know the meaning of the collected
data
 5 - Marketing Research Report
• The last step in the marketing research
process is the presentation of a marketing
research report.
• The contents of the report might include the
title, table of contents, synopsis,
introduction, methodology, major findings,
limitations, conclusions, recommendations,
and suggestion.
• The marketing research report should be
easy to follow, generate interest in reading,
have visual graphics, and use non-technical
language.
• The marketing researcher should not
expect full implementation of the
research report while it was being
prepared. Changed circumstances,
delays, and management perception
might require minor adjustments. On
the whole, the marketing research
should be able to satisfy the
requirements of the marketing
management.