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Industrial Marketing Research, Marketing Intelligence & Decision Support System
Group I :
M. Owais Alam (8127)
Priya V.S. (8136)
Smita Sinha (8150)
Marketing Research is defined as the objective and systematic process of obtaining, analyzing and reporting of data (or information) for decision making in marketing.
Industrial Marketing Research
How it Differs From Consumer Marketing Research?
1. More reliance on secondary data, exploratory research and expert opinion in industrial research.
2. Understanding of technical factors is important for industrial marketing researcher.
3. Managers of industrial products companies generally perform less marketing research studies than the marketing managers of consumer product companies.
4. More emphasis is given to descriptive method in industrial marketing research compared to experimental and observational methods used for primary data collection.
Scope
1.Development of marketing potential
2. Market Share Analysis3.Sales analysis4.Forecasting5.Competitor Analysis6. Benchmarking7. New product
acceptance and potential
8. Business trend studies
Marketing Research Process
Identify the
problem/opportunity and
define researc
h objectiv
es
Develop the
research design
Collect the data
(orinformat
ion
Process and
analyze the data
Present the
research
findings or
reports
The first step in the marketing research process is to identify the marketing problem or opportunity accurately and define the objectives of marketing research.
1. Identifying the Problem (or Opportunity) & Defining Research
Problem
The industrial marketing researcher or the marketing research agency develops the research design, which basically indicates the procedure and the cost of conducting the research study.
2. Develop the Research Design or Plan
Decision areas in Research Design
Decision Areas ParticularsInformation type Prepare a list of
information required from research objectives
Sources of data Primary, secondary, commercial or combination
Research methods Observational, exploratory, descriptive or survey, experimental
Sampling plan Sampling unit, sample size, sampling procedure
Method of contacts Mail, telephone, or personal interview
Data collection methods
Questionnaire, mechanical devices
Based on the research objectives, prepare a list of information required. For instance, if the research objectives are to obtain competitors’ information, the list of information shall include:
The list of competitors, their market share, major competitor’s strength etc.
Information Type
Sources of Data
• Primary Data Methods for
Data Collection: -
Observational - Exploratory - Survey - Experimental• Secondary Data
Survey Research Method• Most commonly used in B2B.
• Provides information on awareness,
attitudes, and business buying
behaviour.
• Data collection may be structured or
unstructured.
• Four possibilities of data collection :
- Structured Direct Interview
- Unstructured Direct Interview
- Delphi technique
- Indirect Interviews (Focus Group)
Sampling PlanThe sample is a part of population (or universe) which is selected to obtain the necessary information. Sampling plan consists of three main decisions : • Sampling Unit• Sample Size• Sampling procedure - Probability or Random Sampling (SRS & Systematic Sampling) - Non-probability Sampling (Judgment Sampling or Quota Sampling)
Data Collection Methods (Instruments)
• Questionnaires
• Mechanical Research
Instruments
Methods of Contact
• Mail Surveys
• Personal Interviews
• Telephone Interviewing
3. Collecting the DataThis phase is referred to as field work. It is expensive and problem oriented phase. In survey method, the types of problems are :• Not available are to be contacted again or replaced,• Some respondents may not cooperate as they may say they are too busy,• Some respondents may give biased or dishonest replies. • Some interviewers may be dishonest or biased.
4. Processing & Analysis of Data
• Editing• Coding • Classification -
Descriptive
- Numerical• Tabulation
Data Analysis
Descriptive Analysis
• Univariate Analysis• Bivariate Analysis• Multivariate Analysis - Multiple
Regression Analysis - Multi-discriminant Analysis - Inferential
Analysis
5. Presenting the Research Findings
Points to be kept in mind while making presentation :
1. The researcher should collect the information about the profile of the executives who would be interested in the research of the user company.
2. The major research findings should be relevant to the marketing research objectives.
3. The researcher should logically justify the choice of research method, data collection method, data analysis techniques, etc.
4. The researcher must not try to satisfy the personal likes or dislikes of the executives in the user company.
5. The research report should have clarity of thought and expression.
General Format of General Format of ReportReport1. Title Page
2. Table of Contents3. Executive Summary4. Introduction (or
Research Brief)5. Problem formulation and
Research Objectives6. Research Methodology7. Results (or Findings) of
the Research8. Conclusions and
Recommendations9. Appendix10. Bibliography
Industrial MarketingIntelligence System
• It provides relevant, accurate and timely information on continuous basis to the industrial marketing manager to make decisions.
• It gathers, stores, analyses, interprets, and disseminates relevant marketing information.
Components of MIS
• Marketing Research Studies
• Internal Information System
• Secondary Data Sources
Industrial Marketing Intelligence System
Marketing
research
studies
Industrial
marketing
intelligence syste
m
Internal informa
tion system
Secondary data
sources
Decision
support
system
Marketing
strategy
development
Market
response
Components of DSS
• Data Base
• Decision Models
• Statistics
• Display
Decision Support System
Action Marketing Manager
Decision Models
Statistics
Data BaseDisplay
Environment
Questions Answers
Thank
You…
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