1. Fourth Lecture Importance of market research
Three stage process of marketing information system
Market research process
Sampling methods
Developing a sampling plan
Questionnaire’s Pivotal Role and design process
Sources of data: Primary and Secondary
CONTENTS
&
COVERAGE

2. Market research : Important tool for decision makers
Market research is lies, damn lies &statistics, if not done methodologically
Market research is
collection, analysis
&
interpretation of
information
for
Decision Makers
Decision
Support
System
Related to
Market/ marketing

3. Marketing Information System: Main Components
MkIS is
organized procedure
to generate,
analyze, disseminate, store
& retrieve
information for
Decision
making

4. Differentiation in Components of Marketing Information system
Aspect
IIS
( Internal Information System)
MIS
(Marketing Intelligence System) MR
(Marketing Research)
Definition
In house data collection & analysis
STAGE I
Sales executives collect relevant market and marketing related information
STAGE II
The systemic design, collection, ,analysis and findings to meet the set objectives
STAGE III
Source of data
mostly internal
external for competitive mapping
External more organized & elaborate
Frequency
Periodic reporting
continuous
As and when required
Nature
formal
formal/ informal
Scope
specified
Critical inputs for decision making
Comprehensive &
elaborate to meet specific objectives

5. The Marketing Research Process: Complete Package
(8)
Follow-up
(2)
Creating of the Research Design
(7)
Writing and Presenting the Report
(1)
Identifying the problem and State the Objectives
(3)
Choosing the Method of Research
(6)
Analyzing the Data
(5)
Collecting the Data
(4)
Selecting the Sampling Procedure

6. Marketing Research Methods: Selection dependent on the nature of product & population size
Person to person Interviews
Telephone interviews
Mailed questionnaires
On line interviews
Survey methods( Experts/Delphi method/Focus group)

7. Sampling Methods: Selection dependent on the nature of survey
Random sampling: all members have equal chance of selection
Systemic sampling: every nth number is chosen from population
Stratified sampling :population divided into homogeneous strata such as income, age, customer segment, etc and use sample from each strata
Cluster sampling: population divided into heterogeneous subgroups and sample is selected

8. Sampling Methods: Selection dependent on the nature of survey
Convenience sampling: sample is selected based on convenience of location or cooperation of the subject
Judgmental sampling: based on the past experience or earlier study sample size is selected
Quota sampling: Based on the prior knowledge of the population, groups are made and then based on judgment sample is selected

9. Steps in Developing a Sample Plan
Execute Operational Plan
Step 2. Choose
Data Collection Method
Step1.
Define the Population of Interest
Step 6. Develop Operational Plan
Step 3.
Choose Sampling Frame
Step 5. Determine Sample Size
(4)
Select a Sampling Method

10. The Questionnaire’s Pivotal Role in the Research Process
Survey Objectives
Respondent
Information
Questionnaire
Data
Analysis
Findings
Recommendations
Managerial
Action

11. The Questionnaire Design Process
Figure 9.2
The Questionnaire Design Process
(10)
Implementation
(2)
Data Collection Methods
(9)
Final Copy
(3)
Question Response Format
(1)
Survey Objectives
(8)
Pretest and Revise
(4)
Question Wording
(7)
Obtain Approval
(6)
Evaluate Layout
(5)
Flow and Layout

12. Sources of data: Primary and Secondary
PRIMARY SOURCES
Market surveys Contact points
Manufacturers
OEMs/users
Dealers/retailers/agents
Equipment suppliers
Technology suppliers
Focus groups
Delphi techniques (indepth interviews with experts)
Retail audits
Experimental
Seed marketing
SECONDARY SOURCES
Economic survey of India
Ministry reports
Statistical Outline of India (Tatas)
Annual survey of industries (CSO)
Census reports
Planning commission
Reserve bank of India (bulletin)
Industry associations e.g. Auto/chemicals/pharma/textiles/cement, etc
Company annual reports
Import/ export volumes/ export promotion councils
Internet sources
News paper/ periodicals

13. INDUSTRIAL MARKETING BOOKS: FOR REFERENCE
INDUSTRIAL MARKETING BY ROBERT R REEDER,EDWARD G BRIERTY & BETTY H REEDER
INDUSTRIAL MARKETING MANAGEMENT BY G GOVINDRAJAN
INDUSTRIAL MARKETINGBY KRISHNA K HAVALDAR

14. THANK YOU