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Marketing Research is concerned with all those factors whichhave a direct impact upon the marketing of products andservices .It links the organization with the marketing environment.

It involves gathering, analyzing and processing andinterpreting the information to help the management todevelop the course of action to achieve the marketingobjectives.

Marketing research is the systematic gathering, recordingand analyzing the data about marketing problems towards theend of providing the information useful in marketing decisionmaking - Still & Cundiff.

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O bjectives/Needs/Importance of Market Research

Knowing the customer s taste for the new products.Accelerating the demand of existing product.

Finding the reason of decrease in the sale.To track the change in purchase/ use pattern of products.

To anticipate customer s reaction for change in 4Ps.To know the market conditions and market potential.To determine the sales quota.

To fix up the pricing strategies.To fix up the promotional budgets.To evenly distribute sales territories.

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The Marketing ResearchProcess

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Marketing Research ProcessStep 1. Defining the Problem & Research O bjectives

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ExploratoryResearch

DescriptiveResearch

CausalResearch

Test hypotheses about cause-and-effect relationships.

Gathers preliminary information

that will help define the problemand suggest hypotheses.

Describes things as market potential for a product, or thedemographics and consumers

attitudes.


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Marketing Research ProcessStep 2. Developing the Research Plan

Research plan development follows thesesteps: Determining the Exact Information Needed

Developing a Plan for Gathering It Efficiently

Presenting the Written Plan to Management

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STEP-2:Develop the Research PlanGathering Information

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Information That Already ExistsSomewhere.

+ Obtained MoreQuickly, Lower Cost.

- Might Not beUsable Data.

Both Must Be:

Relevant

Accurate

Current

Impartial

InformationCollected for theSpecific Purposeat Hand.


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Table 5-1: Secondary-Data Sources

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Secondary-Data Sources

A. Internal SourcesCompany profit-loss statements, balance

sheets, sales figures, sales-call reports,invoices, inventory records, and prior researchreports.

B . Government PublicationsStatistical Abstract of the United StatesCounty and City Data B ookIndustrial OutlookMarketing Information Guide

C. Periodicals and B ooksB usiness Periodicals IndexStandard and Poors Industry


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STEP-2: Develop the Research PlanPrimary Data Collection

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ObservationalResearch

Gathering databy observing

people,actions andsituations

(Exploratory)

ExperimentalResearch

Using groups of people todetermine

cause-and-effect relationships

(Causal)

SurveyResearch

Asking individualsabout attitudes,preferences or

buying behaviors(Descriptive)

Research Approaches


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STEP-2: Develop the Research PlanStrengths & Weaknesses of Contact Methods

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STEP-2: Develop the Research PlanSampling Plan

Sample segment of thepopulation selected torepresent the population

as a whole.

Requires 3 Decisions:

Sampling unitWho is to be surveyed?

Sample size How many people should be

surveyed?

Sampling procedure How should the people in

the sample be chosen?

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Table 5-3: Probability and Nonprobability Samples

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A. Probability Sample

Simple randomsample

Every member of the populationhas an equal chance of selection

Stratified randomsample

The population is divided intomutually exclusive groups (such asage groups), and random samplesare drawn from each group

Cluster (area)sample

The population is divided intomutually exclusive groups (such ascity blocks), and the researcher draws a sample of the groups tointerview


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Table 5-3: Probability and Nonprobability Samples (Continued)

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B .Non probabilitySample

Convenience sample The researcher selects the mostaccessible population members

Judgment sample The researcher selects populationmembers who are good prospectsfor accurate information

Quota sample The researcher finds and interviewsa prescribed number of people ineach of several categories


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STEP-2: Develop the Research PlanPrimary Data Collection

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Mechan ica l ev ice s

Peop le Met ersS pe r ar e t S canne rs

a lvanome t ere ame ras

Q estionna ire

Wha t q estion s t o as ?Form of each q estion ?

losed -endOpen -endWording ?Orde ring ?

Research Instruments


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Step 3. Implementing the Research Plan

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Collecting theData

Processing the

Data

Analyzing theData

Research Plan


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Step 4. Interpreting and Reporting Findings

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Researcher hould resent Important indings that areUseful in the Major Decisions aced by Management.

tep 1. Interpret the indings

tep 2. Draw Conclusions

tep 3. Report to Management

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