1. Marketing Research An introduction

2. Marketing Research Marketing research is a combination of two words i.e marketing and research Marketing is essentially a sum total of two entities viz the target market and the marketing mix. Marketing mix is a combination of 4P’s (Product, Price, Place & Promotion) or 7P’s ( 4P’s + additional 3P’s ie physical evidence, People and Process)

3. Marketing Research Market Marketing Mix Basic Conceptual and Fundamental Applied Problem solving Problem oriented Marketing Research

4. Marketing Research Thus marketing is some human activity directed at satisfying needs and wants through exchange process and Research is an activity solving problem. It is an endeavour to discover, and develop knowledge aiming for progress.

5. Marketing Research Marketing mgt functions viz planning, implementation and control, relating to marketing mix are also performed in an effective manner only when information on marketing mix elements and environmental forces like ( customers needs and activities, market structure and reactions, competitors’ strategies, dealers’ demands, suppliers’ policies etc.) are made available for taking effective mkt decisions. Therefore, MR is a well recognized and important function of mkt mgt.

6. Definitions MR is the systematic design, collection, analysis and reporting of data, and finding a solution relevant to specific marketing situation facing the company. Philip kotler MR is the systematic gathering, recording and analysis of data about problems relating to the marketing of goods and services. AMA

7. Definitions MR is the collection and interpretation of facts that help mkt mgt to get products more efficiently into the hands of the consumer. MR encompasses all information pertinent to this task and all the appropriate techniques. By Blankenship & Doyle.

8. Redefining Marketing Research The American Marketing Association (AMA) redefined Marketing Research as: The function which links the consumer, the customer, and public to the marketer through INFORMATION

9. Used to identify and define market opportunities and problems Generate, refine, and evaluate marketing performance Monitor marketing performance Improve understanding of marketing as a process Redefining Marketing Research

10. Definition of Marketing Research Marketing research is the systematic and objective  identification  collection  analysis  dissemination  and use of information for the purpose of improving decision making related to the  identification and  solution of problems and opportunities in marketing.

11. Market Research Specifies the information necessary to address these issues Manages and implements the data collection process Analyzes the results Communicates the findings and their implications

12. Objective of MR To define the probable market for a product. To know about market conditions, techniques, buying behavior and buying power of the customer. Competitive strength of marketing policies Forecast the market share and future sales Know about the impact of promotional efforts Customer acceptance of the product Identifying mkt opportunity and problems

13. Importance MR is an objective and systematized body of knowledge. It involves collection, recording, analysis, interpretation and reporting of some relevant information It provides more efficient marketing of goods and services to consumers. Deals with present and potential consumers as well as the changing market environment.

14. Importance Provides regular and reliable information about product, its market and the potential consumer. Intra and extra resources for collecting information. An attempt to find justified solutions to marketing problems.

15. Scope The scope of MR covers the present and potential markets, mkt mgt and other areas of mgt. the scope of marketing research is as follows- Mkt research Product research Service research Price research Distribution research Promotion research

16. Scope Consumer behaviour research Brand image research Corporate responsibility research Export marketing research etc

17. The Role of Marketing Research Controllable Marketing Product Pricing Promotion Distribution Variables Marketing Research Marketing Decision Making Providing Information Assessing Information Needs Marketing Managers Market Segmentation Performance & Control Target Market Selection Marketing Programs Uncontrollable Environmental Factors Economy Technology Laws & Regulations Social & Cultural Factors Political Factors Customer Groups Employees Shareholders Suppliers Consumers

18. Limitation of MR Marketing research cannot provide decisions Marketing research cannot guarantee success. MR only provide support

19. Features of good MR Scientific approach Logic and objective Research creativity Multiple methods Cost and value of information Scientific integrity Marketing ethics

20. A Classification of Marketing Research Marketing Research Problem Identification Research Problem Solving Research Market Potential Research Market Share Research Market Characteristics Research Sales Analysis Research Forecasting Research Business Trends Research Segmentation Research Product Research Promotion Research Distribution Research

21. Classification of Marketing Research Problem Identification Research Research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research. Problem Solving Research Research undertaken to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.

22. Problem Solving Research  Determine the basis of segmentation  Establish market potential and responsiveness for various segments  Select target markets  Create lifestyle profiles: demography, media, and product image characteristics SEGMENTATION RESEARCH  Test concept  Determine optimal product design  Package tests  Product modification  Brand positioning and repositioning  Test marketing  Control score tests PRODUCT RESEARCH

23. Problem Solving Research PRICING RESEARCH  Pricing policies  Importance of price in brand selection  Product line pricing  Price elasticity of demand  Initiating and responding to price changes $ALE PROMOTIONAL RESEARCH  Optimal promotional budget  Sales promotion relationship  Optimal promotional mix  Copy decisions  Media decisions  Creative advertising testing  Evaluation of advertising effectiveness  Claim substantiation 0.00% APR

24. Problem Solving Research DISTRIBUTION RESEARCH Determine…  Types of distribution  Attitudes of channel members  Intensity of wholesale & resale coverage  Channel margins  Location of retail and wholesale outlets

25. Issues and trends in MR 1.Intense competition 2.Importance of marketing strategy 3.Product variety and customization 4.Emphasis on quality 5.Advance in technology 6.Concern regarding business environment