Download - Market research presentation
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Market ResearchMarket ResearchModule 3 (Final part)
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What is Market ResearchWhat is Market ResearchNeed based research to solve
current marketing problems.Gathering dataAnalysisArriving at a decision / solutionBetter Service Offer to Customers
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Different approaches to Different approaches to ResearchResearchObservationalFocus Group ResearchExperimentalSurvey ResearchSecondary ResearchPrimaries
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ObservationalObservationalWatch and note the behaviour of
potential / existing customers in a particular service setting.◦Eg. Retail Mall – Parking bay – note
the number of 2-wheelers/ 4-wheelers parked and compute parking revenue.
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Focus Group ResearchFocus Group ResearchGather a set of customers and
experts to increase qualitative understanding
Airlines / Hotels invite their customers for a group discussion and put forward proposals.
Can also be used for same set of customers, if they are providing details for a long time, then behavioral changes can be noted,
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ExperimentalExperimentalPut plans into action and gauge
impactTest MarketingAdvertising campaignWhat is the consumer feedback ?
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Survey ResearchSurvey ResearchMost popularMarket IntelligenceWhat do the customers think about the
serviceCompare with competitionSurvey done using Telephone / Personal
Interview/ Email. ( Questionnaires)Email least effectivePersonal Interview most effectiveSecondary Research – Journals, InternetClose Ended questionsOpen Ended questions
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Ordinal ScalesOrdinal ScalesLikert ScaleImportance ScaleRating Scale
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Likert ScaleLikert ScaleStrongly AgreeAgreeNeither Agree nor disagreeDisagreeStrongly disagree
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ImportanceImportanceVery importantImportantSomewhat importantNot importantNot at all important
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RatingRatingExcellentGoodAcceptableFairPoor
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Interval ScaleInterval ScaleI am willing to spend ________ on
books every year.◦A. Rs.1000- Rs.1500◦B. Rs. 1500 – Rs. 3000◦C. Rs.3000- Rs.5000◦D. Less than Rs.1000◦E. More than Rs,5000
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Sample SizeSample SizeDetermine the appropriate sample
size for conducting the survey which depends on overall goal of consumer research
MR for services – more specialisedModels based on service failure
◦Critical Incident Study ◦Customer Complaints
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ComplaintsComplaintsAcknowledge receipt of complaintsActions to prevent its recurrenceInform customers about action takenLost Customer Analysis (Root Cause
Analysis) Example – Magazine Subscriptions –
difficult to trace the lost customerThrough data mining, frequency of
use by customer is traced.Follow up calls after a complaint is
resolved
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Other techniquesOther techniquesMYSTERY SHOPPING
AN OBSERVER ALONG WITH A BUYER
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Some Revision..Some Revision..What are positive and negative
biases during the post purchase evaluation phase?
If Real Customer Satisfaction occurs during __________, then it will help build customer loyalty ?
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Services are experiencesServices are experiencesAll services are experiences. Services are actions or
performances.Sequence of steps, actions and
activities.It is the experience that is
evaluated by customer.
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Service Provision as Service Provision as DramaDramaMetaphor of theatre is a
framework for describing and analyzing service performance.
Theatre & Service Organizations … aim to create an impression before an audience.
Carefully manage the actors and the physical setting of their behaviour
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Walt DisneyWalt DisneyThe Walt Disney company
considers its service provision a “performance”
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At Disney World, delivery of At Disney World, delivery of service is considered as service is considered as drama.drama.
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Disney WorldDisney WorldSkill of service actors in performing
their routines, the way they appear and their commitment to the show are all essential to service delivery.
Condition 1 – personal contactCondition II - Contact of service
personnel important when services involve repeated contact
Condition III – when service personnel have to determine nature of service
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Moods and EmotionsMoods and EmotionsInfluence Service PerformanceAmplify service performance
making them more positive or negative than they might seem in the absence of moods and emotions.
This leads to biasFeelings associated with an
encounter become inseparable part of the memory.
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Managing emotional Managing emotional statesstatesOrganizations must manage the
emotional component of experiences with the same rigor they bring to the management of product and service functionality.
Consumer’s emotional responses may be the best predictors of their ultimate loyalty.