Market Research

By
DInesh
The Role of Marketing
Research
Strategic
Segmentation
Marketing Targeting
Strategy Positioning

Information
for
Tactical 4p’s of
Marketing
Decisions marketing
Marketing Product
Plan Price
Place
Promotion
Marketing Research Vs
Marketing Intelligence
Marketing research Marketing Intelligence
Project based on Ongoing process
information gap
Usually done in-
Mostly outsourced to
M.R. companies house
Action Oriented Not meant for
Very specific Answers immediate action
to questions General purpose
Focus on consumers ,
Focus on
influencers etc
Competition ,
Environment
Applications of market
Research
Strategic Tactical
Demand Forecasting Concept research
Sales Forecasting Product Testing
Segmentation studies Pricing Research
Identification of target Advertising
markets
Research
Positioning Strategies
Promotional
Identification
Research
Distribution &
Logistics research
Discussion question
In the current economic slowdown
What is the marketing strategy companies
are adopting? Take examples from industry
to support your answer
What is the approach of consumers?
Concept Research
Protein Shakes – in 4 flavors chocolate,
vanilla, strawberry & Pineapple in 200 ml
packs priced at Rs 40 each, one serving
ensures that you do not feel hungry for
next 4-5 hours. Ideal for people wanting to
lose weight. Has 20 calories per serving.
Tastes like Milk shakes
State your view on the above product
Product Research
What type of Packaging?
Service Expectations
Brand preferences
Brand positioning
Product expectations

Talk about Product expectations for Maggi

Cuppa Mania
Pricing Research
Appropriate pricing levels from consumer
point of view
Discounting -Buy Backs, exchange offers,
straight discounts
Bundle Pricing
Distribution Research
Service Levels provided by current
channels
Routing for deliveries
Testing of new channels, channel displays
linkage b/w displays & sales
Best channel for reaching consumers in the
most satisfying manner
Advertising Research
Copy
Brand Awareness, Brand recall, Copy Recall
Testing alternative Ad copies/
layout/storyboard
Advertising theme, content, media Selection,
frequency of airing & effect
Media
Viewership of specific television programs on
various Tv channels
Ac neilsen, Org marg, IMRB – peoplemeter
Readership Surveys
When to do Market Research
Information Gap
The cost of filling the gap through MR is
less than the cost of taking wrong decision
without doing the research
The time taken for research does not delay
the decision making.
Secondary & Primary
Research
Secondary research is any information we
may use, but which has not been
specifically collected for the current
Marketing Research.
Primary Research involves collecting
information specifically for the study on
hand, from the actual sources such as
consumers, dealers or other entities
involved in the research
Data Warehousing & Data
Mining
Data Sources BUILD DATA
•Company Records
•Surveys
WAREHOUSE
•Other Sources

Data Mining
•Look for patterns of
Use the mined data purchase, behavior,
to design marketing attitudes by analyzing
or communication data from warehouse
campaigns

Measure Result of
the campaign &
Refine the process
Marketing Research process
Plan & do secondary
Information Need Research
felt
Plan & do primary
Define Research research
objective
Tabulation &
Analysis
Design Research
methodology
Report Writing &
presentation
Marketing Action
Research Designs
A Research Design provides the framework
to be used as a guide in collecting and
analyzing data
Exploratory Research: Used to clarify
thoughts & opinions about the research
problem or the respondent population or to
provide insights on how to do more
conclusive resesarch
Descriptive Research
Longitudinal: Sample of respondents who are
studied over a period of time.
Longitudinal Studies are usually done
through a panel.
A panel is a sample of respondents chosen
from the defined target population-
consumers, retailers etc
E.g. Consumer Panel to study consumption of
product/brand, Retail Store audit
Panel data allows comparison at different
points of time, it suffers from a selection
bias
Cross sectional Design
One Shot Research study at a given point
of time & consists of a sample of the
population of interest- typical market
survey
Good overall picture at a given point of
time, cover many variables
Disadvantages are Rely too much on
numbers, can be affected by poor quality of
interviewers, tends to view population with
too many generalizations
Casual Research Design
A casual design seeks to establish
causation as far as possible by employing
controls & conditions under which relation
between two variables is established.
E.g. Current advertising to sales
Designing the Research
Methodology
Research methodology depends on the
target population & how easy or difficult to
access it is .
The importance of decision to be taken also
influences Research Methodology
Research Method- Secondary or Primary
Sampling Plan
Questionnaire Design
Field Work Plan
Analysis Plan
The major Research methods
are:
Survey
Observation
Experimentation
Qualitative Techniques
Other specialized techniques
 Surveys
Survey is the first step of market
research. A survey collects information
from a specific group of people or data
on a specific subject: Forms of survey
interviews:
Personal interview
Telephone interview
Mail interview
Focus group and group interview
Observation
It is a technique where the consumers
behavior is recorded, usually without his
knowledge
A video camera in a Retail store can be
used to observe the customers buying
behaviour
Experimentation
Measure the effect of one or more variables
by changing the level of some variables
E.g. Advertisement vs Brand Awareness
Qualitative Techniques
When the research method calls for more
indirect method of questioning, qualitative
methods , which probe the minds of
respondents may be used
Word Association or associating brand with
a person or celebrity
E.g. What do you expect from a Micro wave
?
A behavioral specialist is required to
analyse the findings
Specialized Techniques
Consumer Panel
Retail Audit
TV audience measurements
Sampling plan
Statement of What will be the sample
composition & size
2 precautions
Probabilistic sampling Technique should be
used
Divide the population to be sampled into
segments or strata based on relevant
parameters such as users/non users or
classes based on age , income etc
Field Work Plan
Once the sampling centres (cities/ towns)
are decided on and the sample sizes are
determined for each, the next step is
Who will do the fieldwork for collecting data
When will the fieldwork be done
Briefing
The research executive incharge has to
brief the field supervisor & his staff.
Mock interviews & briefing session is
designed to explain The field staff on how
to go about data collection
Debriefing session is usually held at end of
first day field work to work on the progress
& problems faced in the field so that
solutions can be immediately implemented
Analysis Plan & Expected
Outcome
Analysis is based on answers given to
questions
Two basic kind of analysis: Simple
tabulation & Cross tabulation
Budget & Cost Estimation
Parameters which provide an estimate of
how much a study is going to cost
Sample Size
Difficulty of finding Sample Units
(Respondents) & their geographical
dispersion
Who will do the field work
Presentation Report & marketing
Action
 Executive Summary
 Table of Contents
 Introduction
 Research Objectives
 Research methodology
 Sample design
 Field Work plan & dates
 Analysis/ Expected Outcome Plan
 Questionnaire Copy
 Analysis
 Findings
 Limitations
 Recommendations for action
 Bibliography/ List of References
 Marketing plan summary
 How you will differentiate Your
 Goals & objectives: short
competitive position and how
& long. you will be unique.
 Potential customers  Marketing strategies and tactics.
characteristics: race, age,  Marketing personnel, job
description and duties.
location, gender, income,
 Timetable for start-up, retention
etc. and expansion.
 Target market  Marketing, promotion and
characteristics, free advertising budget.
market, monopoly, etc.
 Competitors’ strengths,
weaknesses.
 Your company analysis;
strengths, and
weaknesses, and
opportunities and
threats .
 I. Executive Summary
Brief description of the project/company.
Introduction to Product or service.
 Objectives of the project and Potential customers.
Competitive position/market niche/market share.
Market problems and marketing plan/strategies.
Projected sales & profits.
 II. Marketing Analysis
Market survey for data collection.
Market research; market forces and forms.
Market demand and customers’ characteristics.
Product-services’ characteristics and analysis.
Feasibility study, needs assessment, personnel and
financial resources.
Company weaknesses and strengths.
Competitors’ weaknesses and strengths and their
market share.
Interpretation, evaluation, decision making, and
future plan.
 The process of collecting, organizing, analyzing,
interpreting and utilizing specific information for the
purpose of making future marketing decisions.

Identify your problem and objectives.

Design a research methodology.
Conduct survey and collect data.
Organize, analyze and interpret the data.
Make the right business decision.
Solve your problems and plan for future.
 Location: countryside, town,
county, state, national &
regional market.
 Size: based on volume of dollar
sales/votes, area/shopping
center & number of customers.
 Product and Seasons:
market can be identified by
different product, winter,
summer, and etc.
 Demand factors: price,
people, places, income & things
that influence demand must be
identified and satisfied.
 Consumer satisfaction:
demand, needs, wants, &
preferences
 Convenient service: alter or
extend your hours to
accommodate customer needs.
 Demographics: age , race,
religion, nationality gender, marital
status, occupation, education, job
title & etc.
 Competition:market can
segmented according to free,
perfect, monopoly market.
 Potential growth: quality and
price are different according to the
degree of growth.
 V.Marketing Mix( 4 -Ps)
Price: How much your customers will pay for your
product & services.
Product : What kind, and quality of product & services
you offer to customers that satisfy their needs.
Promotion: The communications and advertising
devices you use to inform customers & referral sources of your
products & services and price.
Place: Where you will locate your business also what is the
best way to display your products and services to be appealing
to your customers.
 There are other important factors: Positioning, People,
Politics, & Profit, and Service.
VI. Marketing strategies &
tactics

Business problems, goals & objectives.

Marketing advantages and disadvantages.
Marketing strategies: how to measure your
business and what conceptual procedures
you use to solve your business problems.
Marketing tactics: action plans and
implementation.
 VI. Promotion
Communication
to activate strategies & tactics
Advertising program: to give information about
your business, through newspaper, radio, T.V.,
magazines, brochures, fliers, forms, displays,
personal referrals and word of mouth
Publicity: how to change purchasing behavior to
increase your reputation and creditability.
Public relations: to foster your image.
Direct mail, telemarketing, speeches, personal
selling, samples, sales, networking, charity and
community service.
VII. Evaluation and follow-up
Evaluation of action plan and strategy.
Checking your sales, cash flow and income
statement and balance sheet.
Achievement of projected goals, market
share & unique competitive advantage.
Recommendations for future opportunities,
and change of market plan accordingly .
 VIII. Appendices: Budget,
forecasting, charts and graphics
Projected budgets including variable/fixed cost,
salaries/wages, equipment/tools,
inflation/depreciation, miscellaneous expenses
and etc.
Projected cash flow month-to-month.
 projected income statement.
Pro-forma balance sheet.
Advertising copy, layout and forms.
Tables, charts & graphics.
Legal documents & required licenses,
approvals.