principles of marketing- market information and research

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PRINCIPLES OF MARKETING

MARKETING INFORMATION AND RESEARCH

Prof. Rushen Chahal

Prof. Rushen Chahal1



1. Defining market research1. Defining market research

Marketing research is the systematic design,

collection, analysis, and reporting of data relevant

to a specif ic marketing situation facing anorganization

Role of market research:- It is the function which

links the consumer, customer, and public to the

marketer or organization through information




2. Types of marketing research2. Types of marketing research

Exploratory approach:-

To generate some preliminary information about theproblems before the actual research; usuallyobservation

Descriptive approach:-

Informative/descriptive way of addressing an issue,such as customer prof iling or behavior

Causal or predictive approach:-

To test a hypothesis of cause and effect relationship toget results, e.g. do beer give benefits to drinkers?




3. Origins of research data3. Origins of research data

Data produced by research

i. Qualitative research:- the collection of data that

are open to interpretation or subjective opinions,e.g. peoples¶ thoughts, attitudes, emotions,

behavior, etc.

ii. Quantitative research:- the collection of datathat is measurable and analysed through data

crunching, e.g. sales figures, market share data,

etc.




4. Marketing information systems (MIS)4. Marketing information systems (MIS)

MIS:- An effective system of organising,

structuring and managing the storage, access

and dissemination of market research data. Itconsists of:

Internal records

Market intelligence Market research




4. Marketing information systems (MIS)4. Marketing information systems (MIS)

Internal records - information obtained inside the

company; from sales reps, call details, customer

enquiries, invoices, sales orders, etc

Marketing intelligence ± information from

anywhere; suppliers, partners, research agencies

Market research ± design research plan; trackingcustomers; f ield questions




5. The marketing research process5. The marketing research process


I. R esearch problems/objectives

II.Develop research planIII.Implement/collect data and analyze findings

IV.R eport the findings/analysis



i. Research problems/objectivesi. Research problems/objectives

R esearch problem:- def ine the problem/s in the

organization with a statement,

e.g. Consumer traffic dropped in city A. This may

be due to the lack of product range? Will increasing the product range help increase traffic?

R esearch objectives:- what the research is

suppose to do,

e.g. to research on the effectiveness of increasing

product range in city A to increase traffic




ii. Develop research planii. Develop research plan

I) Data Collection

Secondary data consists of information that

already exists somewhere, having been collectedfor other purposes

Primary data consists of information gathered

for a special purpose or problem, (usually

exploratory or f ield research)





Secondary data sources include:-

Government - e.g. Central Statistical Bureau

Trade associations ± public database, e.g. UK compuserve, tradenets

Commercial publications - e.g. Phone directory,Yellow pages, Mintel, etc.

Internet and press / magazines, etc.





Secondary research(desk research)data advantagesand

disadvantages:-


Advantages: Fast and easy to

access

Low cost and

convenient Company can collect

any kinds of data on

its own

Disadvantages: Non available

Not relevant

Not accurate

Time lag




Primary data sources include:-

Where the required information does not already

exist, so company does a research

It is exactly tailored to a special problem of the

organization. (maybe qualitative or quantitative)






Primary research (field research)

Observational research:- by observing and

recording relevant people, actions and situations

Consumer panels:- household provide

information of purchases and consumption of

products

Retail audit research:- investigate retail situation

such as stock levels and atmosphere

Home audit research:- check on household items

and dustbin




Primary researchdata advantagesanddisadvantages:-

Prof. Rushen Chahal 14

Advantages:

Direct contact with

interviewees

Company can collect

any type of data on

its own

Disadvantages:

Costly and takes

time

May need to f ind

market research

agencies

Not for long term

use




Primary research contact method includes:-

a. Telephone interview / survey

b. Personal interview / survey

c. Mail questionnaires / survey

d. Online marketing research / survey





a. Telephone interview / survey

Collects information quickly

Interviewers can explain diff icult questions

Higher response rates than mail questionnaires

Interviewers communicate directly with

respondents Costs higher than postal mail





b. Personal interview / survey

Individual (in-depth) interviewing

- Involves talking with people at home or theoff ice, on the street, or in shopping malls

- Structured (cannot probe) or unstructured

(can probe)

Group interviewing or focus group survey

- Involves 6 to 10 people to talk with a trained

moderator





c. Mail questionnaires / survey

Good and cheap exposure of information

Less bias with no interviewer present

Low response rate

Unsure of ³who are the targets´





d. Online marketing research / survey

Very low cost; Real-time fast results

Good for ³hard-to-reach´ groups Hard to control who¶s in the sample

Lack of facial interaction and truth

Security concerns






II) Sampling:- is a segment of the population

selected for marketing research to represent the

population as a whole

a. Sample frame

b. Sample method

c. Sample size




a. Sample frame:- the location or place or object

used to f ind the respondents

b. Sample method:-

Probability : chance of being picked and focused- stratif ied

- systematic

- random

Non-probability : flexible to pick such as judgmentor quota

c. Sample Size:- number of respondents to be

selected.Prof. Rushen Chahal 21




III) R esearch Instruments:-

mechanical devices: to note the

movement of human senses

questionnaires: to gather information

from the data collection methods. Start with

general questions





Type of questions:-

Closed-end questions include all

possible and simple answers to

tabulate (count).

- Multiple Choice Questions

- Dichotomous questions

- Likert Scale

- Semantic Scale





Open-end questions allow

respondents to answer in their own

words; Used in qualitative research

- Word association

- Sentence completion

- Story completion

- Picture completion




iii / iv. Implementiii / iv. Implement--Collect data and analyze findingsCollect data and analyze findings/ Prepare and present report/ Prepare and present report

iv. Conduct the research. Collect the data and analyze

the findings and conclusion

vi. Prepare and present the report (not too manynumbers)


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