NATURE & SCOPE OF MARKETING RESEARCH

HISTORY
Curtis publishing company is the first company. Charles Coolidge parlin was the first head. Research was for Campbell soup. In the United States.

What is marketing research

Marketing research is the function that links,

the consumer, customer, and public to the marketer comprises defining and redefining problems, Formulating hypothesis or suggested solutions Collecting, organizing, and evaluating data Making deductions and reaching conclusions And at last carefully testing the conclusion to determine whether they fit the formulation

Research

Classification of research
1. 2.

Basic research Applied research a) Problem solving research b) Problem identification research.

Problem Solving Research

Segmentation research Product research Pricing research Promotion research Distribution research

Problem Identification Research

Market potential research Market share research Image research Market characteristics research Forecasting research Business trend research

Why marketing research has evolved and grown ?

Answer:

Managers are separated from their final consumers Managers needs information from their final consumers

Managers are separated from their final consumers

Manufacturer Mkt. Manager

Retailer

Services Org.

Final Consumer

Managers needs information from their final consumers

Manufacturers Retailers Suppliers

Customers Needs And Wants

Managers needs information from their final consumers

Marketing Manager Wants information

Target market Product/service Price Distribution Promotion

Customer group Consumer Employees Shareholders Suppliers Uncontrollable Environmental Factors Economy Technology Competition Law and Regulations Social and culture Factors Political Factors

Controllable Marketing Variables_______ Product Pricing Promotion Distribution

MARKETING RESEARCH

Assessing Information Needs

Providing Information

Marketing Decision Making

Marketing Managers
Market Segmentation Target Market Selection Marketing Programs Performance and Control

The role of marketing research in managerial decision making is explained further using the framework of the DECIDE model:
_________________________________________________ D Define the marketing problem E Enumerate the controllable and uncontrollable decision factors C Collect relevant information I Identify the best alternative D Develop and implement a marketing plan E Evaluate the decision and the decision process

Applications of Marketing Research

Pricing Research Product Research Concept Testing Positioning Research Customer Satisfaction Research Branding Research Advertising Research Market Segmentation Sales Analysis

Types Of Research
Descriptive vs. Analytical Applied vs. Fundamental Quantitative vs. Qualitative Conceptual vs. Empirical

Descriptive : Also known Statistical Research Includes survey & facts What age group buying a particular brand Analytical : Use facts or information already available

Applied Research
Designed to solve practical problem of the modern world For example, applied researchers may investigate ways to: improve agricultural crop production treat or cure a specific disease improve the energy efficiency of homes, offices, or modes of transportation

Fundamental Research

Driven by a scientists in a scientific question The main motivation is to expand Mans knowledge, not to create or invent something

For example, basic science investigations probe for answers to questions such as:

How did the universe begin? What are protons, neutrons, and electrons composed of? How do slime molds reproduce? What is the specific genetic code of the fruit fly

Quantitative:

Used to measure how many people feel, think or act in a particular way Many vehicle used for collecting quantitative information but the most common are on street or telephone

Qualitative :

Used to help us understand how people feel and why they feel as they do It is concerned with collecting in-debt information asking questions such as why do you say that Depth interviews or group discussions are two common methods used for collecting qualitative information

Conceptual : Related to some abstract ideas or theory It is generally used by philosopher and thinkers to develop new concepts or to reinterpret existing ones Empirical : Relies on experience or observation alone, often without due regard for system & theory

Benefits of Marketing Research

Benefit to business and industry Benefits to economy. Six essential benefit Enhanced ability to make well-informed decisions. Provides a cost-effective opportunity to supplement a company's internal training.

Facilitates a common knowledge bridge.. Provides a specific starting point for people entering the profession. Gives company an objective tool to help develop and promote employees. Assists researchers in understanding and differentiation between good research and impartial research.

Characteristics of a good marketing research: Use of more scientific methods Cost and benefits Use of the Statistical method Alternative course of action

Scope of marketing research

The scope of marketing research could cover the business problems relating to the followings. Types of consumers that compromise present and potential markets. Buying habits and pattern of consumption Size and location of different markets, not only in India but also overseas.

The prospects for growth or construction for the current markets being served. New mantras of emerging segments. Marketing and manufacturing capabilities of competitors. Most suitable entry timing. The current and prospective competitive position. Chances of improvement of current channels. Optimum use of promo- tools.

Qualities of a good researcher:

Qualities Strong writing skills Strong analytic skills Strong verbal skills Professional appearance Good grades Good quantitative skills Graduate degree Good school Managerial skills Client handling skills Entry level 57 50 49 19 15 13 06 03 ** ** ** 57 28 71 67 82 5 04 19 11 01 ** ** junior staff 90 90 senior staff

07 41 16 49 83

Obstacles in acceptance of marketing research

Due

to globalization, liberalization and privatization Narrow conception Improper orientation of the investigator Late results Conditional findings Biasness Improper research technique Inadequate skill of investigator Research inclined towards predetermined research

Ethical condition of Market Research

Information should not be misused Do not force the customer to answer Respondent reply should also be kept confidential Ask sensible personal questions

Limitations of Marketing Research

Not a panacea(solution) Not an exact science imitation of time Erroneous findings Not exact tool for forecasting In experience research staff Narrow conception of marketing research

Emerging issue
Marketing research in internet era Online research Email surveys Html forms Downloadable interactive survey application Data warehousing and data mining

Case study
Hindustan express news paper Largest chain of news paper in India During 1975 1977 fought for freedom of the press Newspaper flash lighted government and its policies Suffered restrictions and newspaper quota Suffered loses Change in government - 1977 Role played by this newspaper was hailed Earlier position completely reversed Financial position improved with in 18 months

Case study cont.

Hindustan express simultaneously published in English language west -- Bombay, Ahmedabad South -- Madras, Bangalore, Hyderabad, Trivandrum North -- Chandigarh East -- none Have two regional language paper Marathi from Bombay Malayalam from cochin

New plan to start an edition from Pune in Marathi

Problems :Already five Marathi newspaper published daily from Pune and four from Bombay Pune hardly 180 km from Bombay, as such Bombay edition could easily reach Pune by newspaper taxi. The circulation of regional language newspaper is low. Advertising revenue is low. Will the new edition from Pune be financially feasible? Will the new edition have market feasibility?

Solution

MARKETING RESEARCH

Bibliography :Name of the Book ,,,

Marketing research Marketing Research Marketing Research

Author

Publication

Donald. S.Tull Del I.Hawking G.C.Beri M.V.Kulkarni

Prince hall of india Tata McGraw Hill publishing Co. Ltd Everest Publishing House

Webliography :www.google.com www.ask.com