Sei sulla pagina 1di 27

LECTURE- 1

INTRODUCTION TO MARKETING RESEARCH

DR. JOGENDRA KUMAR NAYAK


DEPARTMENT OF MANAGEMENT STUDIES

1
Because Marketing Research is part of Marketing we
should understand:

• What is marketing?
• What is the marketing concept?
• What is marketing strategy?

2
What is Marketing?
• Marketing has been defined by the AMA as an organizational function and a set
of processes for creating, communicating and delivering value to customers and
for managing customer relationships in ways that benefit the organization and
its stakeholders.
What is the Marketing Concept?
• The Marketing Concept is a business philosophy that holds that the key to
achieving organizational goals consists of the company’s being more effective
than competitors in creating, delivering, and communicating customer value to
its chosen markets.(production, product, selling, marketing, societal marketing)
What is Marketing Strategy?
• A Marketing Strategy consists of selecting a segment of the market as the
company’s target market and designing the proper “mix” of the product/service,
price, promotion, and distribution system to meet the wants and needs of the
consumers within the target market.

5
Key Point
• To practice marketing; to implement the marketing concepts; to implement
marketing strategy, managers must make decisions.
• Many decisions require additional information and marketing research is needed
in order to supply that information.

6
Classic Cases
• New Coke-1985, $35mn
• Arch deluxe McDonalds-1996, $100mn
• Yoghurt shampoo P&G-1979
• 3D television Vizio
• Apple Lisa, B2B Consumers

7
YouTube began as a video dating site called "Tune In Hook Up." Founders Chad
Hurley, Steve Chen, and Jawed Karim were disappointed with limited traction, but
then they had another idea. After the Janet Jackson Super Bowl fiasco, they realized
that finding proper videos online was surprisingly difficult. In addition, even when you
could find one, the sites were buggy and unreliable. Plus, sharing was a chore: video
email attachments were unreliable, and most sites failed to provide dedicated video
links.
The trio set out to solve these problems, instead of trying to compete in an already-
crowded space. They researched the market, and determined that they had a great shot
at solving online video better than anyone else. In 2006,Google bought YouTube for
$1.65 billion.
Kevin Systrom and Mike Krieger put a full
year of work into a new location-based,
check-in app called Burbn, even developing a
full-fledged iPhone app. After releasing the
app, the team wisely chose to reevaluate the
market. "If felt cluttered, and overrun with
features,“Systrom said. He and Krieger also
faced reality: they were late to the game in a
trendy space already dominated by
Foursquare.
They removed almost all of their features,
leaving only photos, commenting, and liking.
They rebranded their business as Instagram.
By looking closely at the market,
understanding their strengths, and researching
competitors, they were able to make the right
call.
The rest is history. Facebook bought
Instagram in late 2012 for nearly three
quarters of $1 billion in cash and stock.
Once, Ratan Tata was traveling in his car on a
rainy day. Ratan Tata saw a man on a bike from
his car’s window. That man is carrying his whole
family on a single bike, that too in a rainy day
(total four persons on a bike).
Rattan Tata keep looking at that man and
suddenly an idea came up in his mind of creating
a car for a common man. Than he decided to
create a car that costs approximately equal to the
price of a bike, and the price he decided was Rs.1
lakh.
We need Marketing Research to:
• Make the “right” decisions to
• Implement marketing
• Practice the marketing concept and
• Make the right decisions to select the right marketing strategy
What is Marketing Research? AMA definition
• Marketing research: 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 the understanding of
marketing as a process.
Market Research vs. Marketing Research
• Market research: the “systematic gathering, recording, and analyzing of data
with respect to a particular market, where ‘market’ refers to a specific group in
a specific geographic area.”
What is the purpose of Marketing Research?
• To link the consumer to the marketer by providing information that can be used
in making marketing decisions
What are the uses of Marketing Research?
• Identify marketing opportunities and problems
• Generate, refine, and evaluate potential marketing actions
• Monitor marketing performance
• Improve marketing as a process
In 2005, Evan Williams and Biz Stone designed a platform to create, browse, and
share podcasts. They were making a bet that podcasting would become a mainstream
medium for sharing news and broadcasting opinion. They would eventually be proven
correct, but not before Apple launched podcast support for iTunes in June. Williams
and Stone took a step back and researched the new market, exploring user adoption
rates, technology, and customer acquisition costs. They concluded that they had no real
chance of competing against Apple.
Crucially, however, they didn't simply give up. They realized that the platform they
had built had tremendous scalability and potential. Suppose they doubled-down on
simplicity, and just made a portal where people could share what they were up to.
They looked at existing social networks like Facebook, and researched customer
dissatisfaction.
Users loved Facebook for photo-sharing and friend-snooping, but often found the
News Feed to be overwhelming and cluttered. Their new venture, Twitter, would
provide a back-to-the-basics feed of information, with a focus on news and celebrity. It
seemed crazy, but they pulled it off, accomplishing one of the most successful pivots
of the 21st century
Classification of Marketing Research
Problem Identification Research
• Research undertaken to help identify problems which are not necessarily apparent
on the surface and yet exist or are likely to arise in the future. Examples: market
potential, market share, image, market characteristics, sales analysis, forecasting,
and trends research.
Problem Solving Research
• Research undertaken to help solve specific marketing problems. Examples:
segmentation, product, pricing, promotion, and distribution research.
A Classification of Marketing Research
Marketing Research

Problem Problem Solving


Identification Research Research

Market Potential Research


Segmentation Research
Market Share Research
Market Characteristics Research Product Research
Sales Analysis Research Promotion Research
Forecasting Research Distribution Research
Business Trends Research
Problem Solving Research
SEGMENTATION RESEARCH PRODUCT RESEARCH
 Determine the basis of segmentation  Test concept
 Establish market potential and  Determine optimal product design
responsiveness for various segments
 Package tests
 Select target markets
 Product modification
 Create lifestyle profiles: demography,
media, and product image characteristics  Brand positioning and repositioning
 Test marketing
 Control score tests
Problem Solving Research
0.00% APR PROMOTIONAL RESEARCH
 Optimal promotional budget
 Sales promotion relationship
 Optimal promotional mix
 Copy decisions
PRICING RESEARCH  Media decisions
 Pricing policies
 Creative advertising testing
 Importance of price in brand selection
 Evaluation of advertising effectiveness
 Product line pricing
 Claim substantiation
 Price elasticity of demand
 Initiating and responding to price changes
Problem Solving Research
DISTRIBUTION RESEARCH
Determine…
 Types of distribution
 Attitudes of channel members
 Intensity of wholesale & resale coverage
 Channel margins
 Location of retail and wholesale outlets
The Role of Marketing Research
Customer Groups
• Consumers
• Employees
• Shareholders
• Suppliers Uncontrollable
Controllable Environmental
Marketing Factors
Variables
Marketing •Economy
•Product
Research •Technology
•Pricing
•Laws &
•Promotion Regulations
•Distribution •Social & Cultural
Assessing Marketing Factors
Providing
Information Information Decision •Political Factors
Needs Making

Marketing Managers
• Market Segmentation
• Target Market Selection
• Marketing Programs
• Performance & Control
Marketing Research Process
Step 1: Problem Definition
Step 2: Development of an Approach to the Problem
Step 3: Research Design Formulation
Step 4: Fieldwork or Data Collection
Step 5: Data Preparation and Analysis
Step 6: Report Preparation and Presentation
THANK YOU