Professional Documents
Culture Documents
TEXT BOOK
4/24/2013
Course Objective
This course will enable the students to
Assessment Details
Attendance + Class participation Assignments Quiz Presentation Mid term Final term
Market
A regular gathering of people for the purchase and sale provisions, livestock, and other commodities A public place where buyers and sellers make transactions, directly or via intermediaries.
Type of Markets
Marketing?
A way of thinking to satisfy the needs and wants of the customers
Marketing
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved October 2007) Source: American Marketing Association
Marketing
One line definition of Marketing Satisfaction of the Customer
Types of Marketing
Internet Marketing Offline Marketing Outbound Marketing Search Marketing Direct Marketing Niche Marketing Drip marketing Social Media Marketing Referral Marketing Guerrilla Marketing Direct Mail Marketing Promotional Marketing Affiliate Marketing Viral Marketing
Inbound Marketing
Newsletter Marketing Article Marketing Trade Show Marketing Database Marketing Personalized marketing
B2B Marketing
B2C Marketing Mobile Marketing Reverse Marketing Telemarketing
Marketing Plan
It is basically the tactics / strategies through which we perform all the activities
Marketing Mix
Four Ps of marketing mix are 1-Product 2-Price 3-Promotion 4-Place( Distribution)
Product
Attributes of the product Benefits How it is different from competitors How packaging designed Warranty ,after sale service( Non Price Services)
Price
Elasticity of Demand Price of the competitors Segment of population Purchasing power of the customers Constant or Variable
Promotion
Marketing Communication (How information about product distributed) Product life cycle Advertisement Publicity
Place / Distribution
Channel of distribution Wholesaler------Retailer--------consumer Producer---------Retailer---------Consumer Agents Exclusive (only one) Intensive (very much) Selective (few)
Consumer Behavior
Research
Research is one of the ways to find answers to your questions. OR Simply the process of finding solutions to a problem after through study and analysis of the situational factors
Marketing Research is the function that links the consumers, customer and public to the marketing through informationInformation used to identify and define marketing opportunities and problems; generate,refine,and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process
Marketing Research specifies the information required to address these issues,design the method of collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications
Source: American Marketing Association Official Definition
Assignment-1
Make a list of national and international journals of marketing along with their web sites Make a list of national and international marketing magazine along with their web sites Make a list of National and international Marketing Research Companies along with their web sites Download a research paper from one of the marketing journal and present that paper in 24th September,2012
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Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong behaviour
1-http://www.iep.utm.edu/ethics/
(Loyalty)
Is the information already Yes on hand inadequate for making the decision?
No
No
No
No
Research Process
1.Establish Need for MR 2.Define Research Problem 3.Objective 4.Research Designs 5.Types and Sources of Data 6.Sample Size (Sampling) 7.Design Data Collection Instrument 8.Data Collection 9.Data Analysis 10.Prepare and Present Research Results
2.Define Problem
The most important step Symptoms and problem should be determined Problem identification is half the solution Decaling the sale of a certain product is a symptom not a problem, identify the problems
3-Formulation of objective
Objectives are the goals you set out to attain in your study. What you want to achieve through study. Irrespective of the type of research, the objective should be expressed in such a way that the wordings clearly, completely, and specifically communicate to your readers your intention.
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Research Designs
Research design is a plan or blueprint for conducting the marketing research project. It specifies the details of the methods and procedures necessary for collecting and analysing data for the project. It is a set of advance decisions that make up the master plan for collection and analysis of the data.
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Descriptive Research
To describe the characteristics of population, It determines the answers to ,WHO,WHAT ,WHEN,WHERE, and HOW Questions
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Exploratory Research
Exploring the problem Very little knowledge available 1.Gain Background Information 2. Precision and Clarity in the Problem 3. Develop Hypotheses 4. Establish Research Priorities 5. Define Terms
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Objective
Characteristics
Causal Research
To know about the effect of some independent variable on dependent variable. e.g: dependent variable: Sale Independent variable: Cost of Adv
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Management/Research Problem
Management Problem It is a decision making situation confronting the marketing manager emerging from problems (low performance of the product) opportunities (new trends) or symptoms (market share declining).
Management/Research Problem
Research Problem Marketing research is defined as providing relevant, accurate, unbiased information that managers can use to solve their marketing management problem. Research problem is defined on the basis of management problem, it is critical that management problem be defined accurately and fully.
Research problems
Evaluate effectiveness of alternative Develop packaging for a new packaging designs product Increase market penetration Evaluate prospective locations through the opening of new stores
Increase store traffic
Allocate advertising geographically
Introduce new product
Operational definition
Percentage of respondents having heard of the brand Number of people who remember seeing an ad What they can tell about the product How they evaluate its performance
Recall of ad
Knowledge of product Satisfaction
Brand loyalty
How many times they bought the brand in the last six months
Research Questions
Information needs
Experiment
Survey
Experiment
A research investigation in which conditions are controlled One independent variable is manipulated (sometimes more than one) Its effect on a dependent variable is measured To test a hypothesis
The experimenter has some degree of control over the independent variable. The variable is independent because its value can be manipulated by the experimenter to whatever he or she wishes it to be.
Variables in Experiments
Independent variables Dependent variables
Advantages of an Experiment?
Researchers ability to manipulate the independent variable Contamination from extraneous variables can be controlled more efficiently Convenience Cost Replication
Disadvantages of Experiments
Artificiality of the laboratory Generalization from nonprobability samples Larger budgets needed Restricted to problems of the present or immediate future Ethical limits to manipulation of people
Experimentation Process
Select relevant variables Specify the treatment levels Control the experimental environment Choose the experimental design Select and assign the participants Pilot-test, revise, and test Analyze the data
Data Collection
The data can collect by two sources Primary Source
The first hand data is called primary data or the data which is collected by the researcher by
observation, Interviewing questionnaire, mail (surface-mail) or telephone
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Secondary data:
The data on which at least one statistical tool is applied is called the secondary data, or The data which is collected by someone and we use that data. Sources of secondary data are
News papers/ magazine/ digest/ research journals/ Government publications
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Secondary
other project quick and easy
Primary
this project
time taking
Cost
Time
relatively low
short
high
Low
Relatively inexpensive
Rapidly obtained
Observation,
Is one way to collect primary data. Observation is purposeful, systematic and selective way of watching and listening to an interaction to an interaction or phenomenon as it takes place
When you are more interested in behavior than in the perceptions of individuals
Capture the whole event as it occurs in its natural environment Participants seem to accept an observational intrusion better than they respond to questioning
Research environment is more likely suited to subjective assessment and recording of data than to quantification of events Limited as a way to learn about the past Cannot observe rationale for actions, only actions themselves
Types of Observations
Participant To know about public re-actions The group / individual has no knowledge that they are being observed Non-Participant Watching & Listening of activities
1. Hawthorne effect
2. Observer biasdness
3. Misinterpretation
4. Incomplete observation
Scales
A study of the nature of interaction in a group Positive Participation
5 4 3 2 1
Neutral
0 1
Negative
2 3 4 5
Confidence
Aggressiveness
Friendliness
Supportive
Elevation effect
Halo effect
Categorical recording
Mechanical devices
Interview
Any person to person interaction between two or more individuals with a specific purpose in mind is called an interview.
Types of Interviews
Unstructured Interview Structured Interview
Flexible contents
Flexibility in questions
In-depth Interviews
Focus group Narratives Oral histories
The Questionnaire
Difference between interview schedule and a questionnaire The only difference between an interview schedule and a questionnaire is that in the former it is the interviewer who asks the questions (and if necessary, explains them) and records the respondents replies on an interview schedule and in the latter replies are recorded by the respondents themselves.
Choice between an interview schedule and a questionnaire The choice depends on the following criteria:
Collective administration
Administration in a public place
Introduce you and the institution you are representing; Describe in two or three sentences the main objectives of the study Explain the relevance of the study Convey the general instructions Indicate that participation in the study is voluntary if recipients do not want to respond to the questionnaire, they have the right not to;
contd---
Give a return address for the questionnaire and a deadline for its return;
Thank them for their participation in the study;
Questionnaire
Advantages It is less expansive Disadvantages Application is limited
Interview
Advantages
More appropriate for complex situations
Useful for collecting in-depth information
Disadvantages
Interviewing is time-consuming and expensive
The quality of data depends upon the quality of the interaction
Forms of questions
Open ended Close ended
The possible answers are set out in the questionnaire or scheduled and the respondent or the investigator ticks the category that best describe the respondents answer
B. How would you describe your current marital status? Married Single Divorced Seperated
Able to make decisions Fast decision maker Able to listen Impartial Skilled in interpersonal communication Others, please specify: ________________________________________
A.What is your current age? ---------- years B. How would you describe your current marital status?--------C.What is your average annual income?-------------------rupees D. What, in your opinion, are the qualities of a good administrator? 1.------------2.-------------3.-------------4.-------------5.--------------
Open-ended Questions
Advantages
In depth information* Respondent feel comfortable about expressing their opinion Opportunity to express themselves freely, resulting in a greater variety of information. Eliminate the possibility of investigator bias
* if used in interview by an experienced interviewer
Disadvantages
Analysis is more difficult Some respondents may not be able to express themselves, and so information can be lost
Close-ended Questions
Advantages
Help to ensure that the information needed by the researcher is obtained Easy to analyse
Disadvantages
Lack in depth and variety Possibility of investigator bias Answers provided may not truly reflect respondents opinion Tick a category or categories without thinking through the issue
Motivation to share the required information Clear understanding of the questions Possession of the required information