MBA (MK0013) Marketing Research

Q1. Explain the marketing audit in detail. Marketing audit is the hottest management concept in the new millennium and marketers are getting increasingly conscious about this, no matter small or large sized companies. The marketing audit provides good input for a plan of action to improve a companys marketing performance. The marketing audit has the following four characteristic: 1. Comprehensive: The scope of marketing audit is relatively broad as it includes all the important marketing activities of business. In other words, it is not at all, problem oriented always. 2. Systematic: The audit follows a specific system and it is an orderly and well-organized scrutiny of organizations environment, objectives, strategies, activities, systems, etc. 3. Independent: It can be conducted in different ways as follows: Self-audit: Here, the marketing manager utilizes a checklist in order to rate and evaluate different marketing activities or marketing operations. Audit from across: Here, the marketing auditing activities are performed across the table. Audit from above: Here the superior marketing manager in the official hierarchy conducts the audit of different marketing activities or marketing operations. Outside audit: Here, an outside agency or an organization is employed for conducting the audit. This is technically termed as External Audit and the auditor, here, is called as External Auditor.

4. Periodic: The marketing audit is periodic that is repetitive in its nature. The period of audit may be varied depending upon the nature and the requirements of the sponsoring organization. Components of marketing audit The various components of marketing audit have been identified as follows marketing environment audit, strategy audit, organization audit, systems audit, function audit, productivity audit. Marketing Environment Audit Marketing environment audit concentrates on: Macro environment, demographic environment, economic environment, political environment, cultural environment, technological environment, task environment, markets, customers, competitors, distributors, dealers. Marketing Strategy Audit Marketing strategy audit focus on: business strategy, business mission, business objectives Marketing Organization Audit Marketing organization audit area of concentrates on organization structure & efficiency

Marketing Systems Audit The area of marketing system audit are: marketing information, planning, control, new product development. Marketing Function Audit Marketing function audit concentrates on objectives like product line, pricing, distribution, advertising, Sales force. Marketing Productivity Audit Marketing productivity audit concentrates on: Cost-benefit analysis, Profitability analysis Methodology of Marketing Audit The auditor collects the relevant and significant data for the purpose of audit by conducting interviews of Customers, dealers, sales representatives, marketing executives, and people from top management

Q2. Describe consumer research process in detail Understanding the customer is one of the most important tenets of any business. Customer profiling is one of the most effective tools for determining where and how to conduct your business. If you know what type of people are most likely to purchase your products or services, you can seek out the location and the marketing plans that give you the best opportunity to reach those people. Sequence of Steps in Consumer Research Formulate consumer research problem One of the most valuable roles consumer research can play is, helping to define the problem to be solved. Only when the problem is carefully and precisely defined can research be designed to provide pertinent information. Part of the process of problem definition includes specifying the objectives of the specific research project that might be undertaken. List out research objective After identification of research problem, researcher should make a list of research objectives which are considered for research purpose. Determine research design The sources of information for a study and the research design go hand in hand. They both depend on how much is known about the problem. If relatively little is known about the phenomenon to be investigated, exploratory research will be warranted. If on the other hand, the problem is precisely and unambiguously formulated, descriptive or causal research is needed. Design data collection method and forms It begins by determining if the information needed is already available as secondary data, either within the firm or from an outside source. If not, information will have to be generated by means of a surveyor in an experiment. Analyse and interpret data

First of all research data collection forms must be scanned to be sure that they are complete and consistent and that the instructions are followed. This process is called editing. Once the forms have been edited, they must be coded. Coding involves assigning numbers to each of the answers so that they may be analysed. The final step in analysing the data is tabulation. This refers to the orderly arrangement of data in a table or other summary format achieved by counting the frequency of responses to each question. Prepare the research report The research report is the document submitted to management that summarises the research results and conclusions. It is all that the research executives will see of the research effort and it becomes the standard by which that research is judged.

Q3. What do you mean by data collection? Also explain the various types of data collection techniques. Data collection is any process of preparing and collecting data the purpose of data collection is to obtain information to keep on record, to make decisions about important issues, or to pass information on to others. All data sources available to the researcher can be classified as either secondary or primary. Online Surveys: surveys ask consumers about their activities, interests, and opinions. This often sheds light onto which publications or media the target audience reads or watches, which enables the advertising agency to fine-tune its message. Observation method: In the observation method, only present/current behaviour can be studied. A causal observation could enlighten the researcher to identify the problem. Observation is the least expensive mode of data collection. Questionnaire: A questionnaire is a tool used to collect the data. Government Agencies and Official Publications: The largest single source of secondary data in macro terms are the' publications by the Union government. Census Data: Since 1872, the census of Indias population is being done once a decade. The next census for which the machinery is already geared up has been done in our country in 2001. National Sample Survey: This was started in 1950 and collects data about demographic, social and economic aspects of a household. Unlike a census which is done once in a decade, this is a continuous ongoing activity throughout the year. Population Statistics: It provides factual bases for estimation of consumer demand for various goods and services, by furnishing data on size of population and its distribution by age, sex, occupation and income levels. Basic Statistics Relating to Indian Economy: Published annually by the statistics and survey division of Planning Commission this publication contains basic indicators on various aspects of economy for the past few years based on time series. Trade Statistics: The Department of Commercial Intelligence and Statistics compiles monthly statistics of commercial intelligence and statistics, publishes data on import and export of goods in terms of their quantity and value, classified as received from or sent to centres of consignment.

Research Agencies and Data Services: these agencies include the marketing research agencies as well as the data services which in addition to providing standardized data also undertake specific data collection research projects. Internet: Internet serves as an extremely popular source for collecting secondary data for marketing research because almost any data imaginable is readily available online

Q4. What do you mean by Marketing Decision Support System (MDSS)? Also explain the various components of MDSS The main purpose of MDSS is to combine marketing data from various sources into a single database, which can be accessed quickly by the managers. MDSS is more powerful than MIS. Typical information that a MDSS might gather and present would be: An inventory of all of your current information, Comparative sales figures between one week and the next, Projected revenue figures based on new product sales assumptions, The consequences of different decision alternatives, given past experience in a context that is described.

The components of decision support system include: Database is a collection of data organized to service many applications at the same time by storing and managing data so that they appear to be in one location. A marketing database contains information on customers and their characteristics. A database helps the marketer predict the future preferences of the customers from the past data. Contents of databases are: Identification of each customer through code. Name of the organisation.

Address and postal code, e-mail ID. Time-period when the transaction was carried out. Amount in rupees (volume of transaction).

Benefits of data base marketing Retention of the customer: It should be remembered that an organization needs to spend five times more to acquire a new customer, compared to retaining an existing customer. Generally, it is an accepted fact that 20% of the customers are responsible for 80% of the business. Therefore, maintaining an excellent relationship with customer becomes imperative.

Estimate the value for lifetime of a customer: Each customer when valued is an asset to the organisation. If a cell phone subscriber pays Rs. 300 per month, he is worth 2.5 lakh rupees assuming he continues with the same service-provider for 30 to 40 years. Report and display: Report consists of tables, charts, graphs and other graphic displays. It also consists of other important inferences of a particular product, company, market, etc. Analysis: Calculations such as average, percentage changes, seasonal changes, statistical procedure used are all parts of analysis. Models: Models represent the assumptions and how it really works. For example, how brand sales responds to changes in marketing mix. Strategy models are used to test alternative marketing programme. Models help in setting objectives. Q5. Write a short notes on: A. Projective techniques of qualitative research B. Latest techniques of qualitative research

A) There are five major techniques in qualitative research. They are: Delphi Technique This is a process where a group of experts in the field gather together. They may have to reach a consensus on forecasts. Sometimes, the judgment may be made by some group members who have strong personalities. In the Delphi approach, the group members are asked to make individual judgments about a particular subject, say sales forecast. These judgments are compiled and returned to the group members, so that they can compare their previous judgment with those of others. Then they are given an opportunity to revise their judgments, especially if it differs from the others. They can say, why their judgment is accurate, even if it differs, from that of the other group members. After 5 to 6 rounds of interaction, the group members reach conclusion. Focus Group Interview They are the best known and most widely used type of indirect interviews. Here, a group of people jointly participate in an unstructured indirect interview conducted by a moderator. The group usually consists of six to ten people. In general, the selected persons have similar backgrounds. The moderator attempts to focus the discussion on the problem areas.

Projective Techniques Projective techniques (Indirect method of gathering information/indirect interview) are unstructured and involve indirect form of questioning. In projective techniques, respondents are asked to interpret the behaviour of users, rather than describe their own behaviour. In interpreting the behaviour of others, respondents indirectly project their own motivation and feelings into the situation Protocol Analysis People are placed in decision-making situations and asked to speak about everything that they will consider while making a choice of a product or services. This is a qualitative research. In this, the researcher will gain insight into consumers decision-making process. B) Qualitative Research is taking more and more inputs from psychology, to develop latest techniques in Qualitative Research. Some of the latest techniques used are as follows: Imagery technique Synectics Neuro-linguistic programming

Imagery Technique: This technique is used to determine the images of two competing brands. As an example, readers were asked to describe two competing magazines. Magazine 1 was described as young, attractive, bubbling teenager. Magazine 2 was described as older, less interesting, introvert lady. This information helped the owner of the magazine to reposition magazine 2.

Synectics: This technique gives the researcher an insight into the intuitive or emotional impressions of the consumer for either a brand or advertising campaign, by unleashing the creative side of the consumer. The respondents are asked to go through a series of games designed to lower their inhibitions which help in unleashing the child present in every adult. The basic idea is that creativity works at child level. Neuro-linguistic Programming: This technique provides an insight into the 'Non-verbal Impact' of an advertisement on the target consumer. This is done by analysing as to which of the five senses (smell, taste, touch, sight, aural) a consumer uses to recall an advertisement

Q6. Explain the methodology of primary data collection. Observation and questioning are two broad approaches available for primary data collection. The major difference between the two approaches is that in the questioning process, the respondents play an active role because of their interaction with the researcher. Online Surveys When it comes to primary data for market research, or customer satisfaction, online surveys can be a great way to collect data. Online surveys ask consumers about their activities, interests, and opinions. This often sheds light onto which publications or media the target audience reads or watches, which enables the advertising agency to fine-tune its message. Observation method

Here only current behaviour can be studied. Therefore, many researchers feel that this is a great disadvantage. A causal observation could enlighten the researcher to identify the problem. Observation is the least expensive mode of data collection. 1. Structured-Unstructured Observation: Whether the observation should be structured or unstructured depends on the data needed. 2. Disguised-Undisguised Observation: the respondents do not know that they are being observed. In non-disguised observation, the respondents are well aware that they are being observed. In disguised observation, observers often pose as shoppers. They are known as mystery shoppers. They are paid by research organisations. 3. Direct-Indirect Observation: In direct observation, the actual behaviour or phenomenon of interest is observed. In indirect observation, the results of the consequences of the phenomenon are observed. 4. Human-Mechanical Observation: Most of the studies in marketing research are based on human observation, wherein trained observers are required to observe and record their observation. Questionnaire: A questionnaire is a tool used to collect the data. Structured and Non-disguised Questionnaire Here, questions are structured so as to obtain the facts. The interviewer will ask the questions strictly in accordance with the pre-arranged order 1. 2. Structured and Disguised Questionnaire:

This type of questionnaire is used to know the peoples attitude, when a direct undisguised question produces a bias. In this type of questionnaire, what comes out is what does the respondent know rather than what he feels. Therefore, the endeavour in this method is to know the respondents attitude. Non-structured and Disguised Questionnaire The main objective is to conceal the topic of enquiry by using a disguised stimulus. Projective techniques are examples of non-structured disguised technique. 3. 4. ended. Non-structured and Non-disguised Questionnaire Here the purpose of the study is clear, but the responses to the question are open-