Instructor
Ups and down in life are very important to keep us going, because a straight line even in ECG means, we are not alive.
..Ratan Tata
Recap
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Defining MRP-1
Background of study
Environment of Problem 3Cs Analysis
Defining MDP
Secondary Data Analysis
Defining MRP-2
Development of Hypothesis
Defining MRP-1 Defining MRO/RQ-1 Based on Literature Review Qualitative study Theoretical Knowledge
Developing Hypothesis-1
Defining MRP-3
Defining MRO/RQ-4
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Developing Hypothesis-1
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Descriptive Research
Description of something usually market characteristics & functions
Causal Research
To obtain evidence regarding cause-and-effect relationship.
Cross-Sectional Design
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Longitudinal Design
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Characteristics:
Information needed is clearly defined. Research process is formal and structured. Sample is large and representative. Data analysis is quantitative
Tentative
Conclusive
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Characteristics:
Flexible, versatile
Often the front end of total research design Expert surveys Pilot surveys Case studies Secondary data: qualitative analysis qualitative research
Methods:
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Formulate a problem or define a problem more precisely Identify alternative courses of action Develop hypotheses Isolate key variables and relationships for further examination Gain insights for developing an approach to the problem Establish priorities for further research
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Survey of experts Pilot surveys Secondary data analyzed in a qualitative way Qualitative research
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To describe the characteristics of relevant groups, such as consumers, salespeople, organizations, or market areas
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To understand which variables are the cause (independent variables) and which variables are the effect (dependent variables) of a phenomenon To determine the nature of the relationship between the causal variables and the effect to be predicted
METHOD: Experiments
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Part II: Intel: Building Blocks Inside Out- Case pp. 402-403
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What can Intel do to increase customer preference in both the individual and business user segments?
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More specifically:
What criteria do individuals and businesses use in evaluating microprocessors? How do individuals evaluate microprocessors? How do businesses evaluate microprocessors? What characteristics are associated with household customers that prefer Intel to its competitors? What characteristics are associated with business customers that prefer Intel to its competitors?
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Q6. Contact Information (for awarding prizes) Name ________________________________________ Company _______________________________________ Address________________________________________ Phone ________________________________________ E-Mail ________________________________________
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Illustration:
Whether Parker Pen should invest in social media sites for developing brand equity among students of premiere Business schools?
Research Environment
Total market for pens in India is valued at about Rs.2000 Crores & 75% of this lies in the organized sector The industry is very competitive and fragmented Parker pens though cater to the mostly uncluttered premium segment Current norm - Premium pen is a pen carrying a price tag above INR 80 Students form the major target group for premium pens in India Quasi Fashion Statement- align with their unique personality Attractive for superior design, features and the grip of the pen Means to show their dedication to their work
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Research Environment
Pens exhibit a consistent and inelastic demand pattern Premium pens are influenced by the business cycles due to their higher elasticity Pens being non perishable goods, experience decrease in frequency of purchase of premium brands in times of slow down Parker pens are marketed in India by Luxor Parker pens advertisement campaigns appear regularly on television and on the print-media Parker has a huge potential untapped in the online space Competition from players - Pierre Cardin, Linc
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Research Environment
Social Media is not only beating conventional media on various fronts such as degree of interaction and engagement, social media is also a cost-effective way of generating awareness. Top 5 Social Media Platforms Blogs Collaborators to generate and share original content. Facebook Allows companies to promote in real time through videos, photos, descriptions and testimonials Twitter Allows promotions through short messages LinkedIn One of the main platforms for B2B promotions, LinkedIn allows the companies to create dedicated pages and promote products YouTube Power of videos to create awareness and engage crowd
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To identify the effect of a person's hometown To understand the effect on the social media habits?
Should Parker invest in social media sites for developing brand equity for its pens among students of premiere Business What is the current schools? brand equity of Parker pens?
of demographic & To identify the effect of socio-economic class psychographic profile of on the social media habits? students on their social media habits To identify the correlation between age of a
person and his social media habits?
To determine the current awareness of Parker pens? To determine the current consumer loyalty towards Parker pens? To determine the brand associations for Parker pens? To determine the quality perception for Parker pens?
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To determine the effectiveness of social Does social media presence of a brand help to build brand loyalty? media with respect to Should Parker invest in social the factors that build Does social media presence of a brand help build positive brand associations? brand equity media sites for Does social media presence of a brand help build a developing brand perception about its quality? equity for its pens among students To identify the social media websites frequently Identify the target visited by the target group? of premiere Business schools? customers preferred To determine if promotion on preferred media sites sites with respect to influence purchase intension? the factors that build brand equity To identify social media sites which catch user
attention towards premium brand promotions?
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MBA students from Tier-1 and Tier-2 cities spend more than 3 To identify the effect of a hrs on social media sites everyday person's hometown on the MBA students from Tier-3 cities spend less than 2 hrs on social media habits. social media sites everyday MBA students from SEC A & B spend more than 3 hrs on To identify the effect of social media sites everyday socio-economic class on the MBA students from SEC C spend less than 2 hrs on social social media habits. media sites everyday MBA students below 25 years of age spend more time than To identify the correlation those above 25 yrs of age between age of a person Students below age 25 yr outnumber students above 25 yr in and his social media habits. premiere MBA institutes
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RO
Hypothesis
Parker has the highest brand recall among premium pens To determine the current 60% premiere MBA institute students identify Parker pens with awareness of Parker pens its logo To determine the current Parker is the preferred choice for repeat purchase of premium consumer loyalty towards pen among MBA students
Parker pens To determine the brand associations for Parker pens To determine the quality perception for Parker pens
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Parker is advocated by 50% of the current Parker pen users 50% of parker pen consumers consider it a a prized possession 50% of parker pen consumers consider it a symbol of innovation 70% of parker pen consumers consider it a functionally superior pen 70% of parker pen consumers consider it a reliable product
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Does social media presence of a brand help build brand awareness? Social media promotions enable top of the mind recall
Presence of advertisement on social media positively Does social media presence of impacts the repeat purchase decision a brand help to build brand Users of loyal products advocate the product on social loyalty? media sites Social media presence increases the believability of the Does social media presence of brand communication a brand help build positive Brand presence on social media increases the worthiness of brand associations? owning the brand Brand presence on social media enhances the perception of Does social media presence of product's superior quality a brand help build a Brand presence on social media increases the perception of perception about its quality? reliability
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Facebook is the most frequently visited social media site by To identify the social media students of B-schools websites frequently visited Blogs is the least frequently visited social media site by students by the target group? of premier B-schools
To determine if promotion on preferred media sites influence purchase intension To identify social media sites which catch user attention towards premium brand promotions
MBA students purchase a product after seeing its promotion on their preferred site Promotions for premium products on Facebook are most effective to catch the attention of students of premier B-schools Promotions for premium products on blogs are least effective to catch the attention of students of premier B-schools
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Questions.. ?
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