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LECTURE- 1

INTRODUCTION TO MARKETING RESEARCH

DR. JOGENDRA KUMAR NAYAK

DEPARTMENT OF MANAGEMENT STUDIES

Because Marketing Research is part of Marketing we should understand:

What is marketing?

What is the marketing concept?

What is marketing strategy?

we should understand: • What is marketing? • What is the marketing concept? • What is

What is Marketing?

Marketing has been defined by the AMA as an organizational function and a set

of processes for creating, communicating and delivering value to customers and

for managing customer relationships in ways that benefit the organization and

its stakeholders.

value to customers and for managing customer relationships in ways that benefit the organization and its

What is the Marketing Concept?

The Marketing Concept is a business philosophy that holds that the key to achieving organizational goals consists of the company’s being more effective than competitors in creating, delivering, and communicating customer value to

its chosen markets.(production, product, selling, marketing, societal marketing)

and communicating customer value to its chosen markets.(production, product, selling, marketing, societal marketing)

What is Marketing Strategy?

A Marketing Strategy consists of selecting a segment of the market as the

company’s target market and designing the proper “mix” of the product/service,

price, promotion, and distribution system to meet the wants and needs of the consumers within the target market.

price, promotion, and distribution system to meet the wants and needs of the consumers within the

Key Point

To practice marketing; to implement the marketing concepts; to implement marketing strategy, managers must make decisions.

Many decisions require additional information and marketing research is needed

in order to supply that information.

Many decisions require additional information and marketing research is needed in order to supply that information.

Classic Cases

New Coke-1985, $35mn

Arch deluxe McDonalds-1996, $100mn

Yoghurt shampoo P&G-1979

3D television Vizio

Apple Lisa, B2B Consumers

YouTube began as a video dating site called "Tune In Hook Up." Founders Chad Hurley,
YouTube began as a video dating site called "Tune In Hook Up." Founders Chad Hurley,

YouTube began as a video dating site called "Tune In Hook Up." Founders Chad Hurley, Steve Chen, and Jawed Karim were disappointed with limited traction, but then they had another idea. After the Janet Jackson Super Bowl fiasco, they realized that finding proper videos online was surprisingly difficult. In addition, even when you could find one, the sites were buggy and unreliable. Plus, sharing was a chore: video

email attachments were unreliable, and most sites failed to provide dedicated video links.

The trio set out to solve these problems, instead of trying to compete in an
The trio set out to solve these problems, instead of trying to compete in an

The trio set out to solve these problems, instead of trying to compete in an already- crowded space. They researched the market, and determined that they had a great shot at solving online video better than anyone else. In 2006,Google bought YouTube for

$1.65 billion.

Kevin Systrom and Mike Krieger put a full year of work into a new location-based, check-in app called Burbn, even developing a

full-fledged iPhone app. After releasing the app, the team wisely chose to reevaluate the market. "If felt cluttered, and overrun with features,“Systrom said. He and Krieger also

faced reality: they were late to the game in a

trendy space already dominated by Foursquare.

said. He and Krieger also faced reality: they were late to the game in a trendy
said. He and Krieger also faced reality: they were late to the game in a trendy

They removed almost all of their features, leaving only photos, commenting, and liking. They rebranded their business as Instagram. By looking closely at the market,

understanding their strengths, and researching

competitors, they were able to make the right call. The rest is history. Facebook bought

Instagram in late 2012 for nearly three quarters of $1 billion in cash and stock.

The rest is history. Facebook bought Instagram in late 2012 for nearly three quarters of $1
The rest is history. Facebook bought Instagram in late 2012 for nearly three quarters of $1

Once, Ratan Tata was traveling in his car on a

rainy day. Ratan Tata saw a man on a bike from

his car’s window. That man is carrying his whole family on a single bike, that too in a rainy day

(total four persons on a bike).

Rattan Tata keep looking at that man and

suddenly an idea came up in his mind of creating

a car for a common man. Than he decided to

create a car that costs approximately equal to the

price of a bike, and the price he decided was Rs.1

lakh.

he decided to create a car that costs approximately equal to the price of a bike,

We need Marketing Research to:

Make the “right” decisions to

Implement marketing

Practice the marketing concept and

Make the right decisions to select the right marketing strategy

marketing • Practice the marketing concept and • Make the right decisions to select the right

What is Marketing Research? AMA definition

Marketing research: the function that links the consumer, customer, and public to the marketer through information information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing

actions; monitor marketing performance; and improve the understanding of

marketing as a process.

and evaluate marketing actions; monitor marketing performance; and improve the understanding of marketing as a process.

Market Research vs. Marketing Research

Market research: the “systematic gathering, recording, and analyzing of data

with respect to a particular market, where ‘market’ refers to a specific group in

a specific geographic area.

with respect to a particular market, where ‘market’ refers to a specific group in a specific

What is the purpose of Marketing Research?

To link the consumer to the marketer by providing information that can be used

in making marketing decisions

• To link the consumer to the marketer by providing information that can be used in

What are the uses of Marketing Research?

Identify marketing opportunities and problems

Generate, refine, and evaluate potential marketing actions

Monitor marketing performance

Improve marketing as a process

refine, and evaluate potential marketing actions • Monitor marketing performance • Improve marketing as a process
In 2005, Evan Williams and Biz Stone designed a platform to create, browse, and share

In 2005, Evan Williams and Biz Stone designed a platform to create, browse, and

share podcasts. They were making a bet that podcasting would become a mainstream

medium for sharing news and broadcasting opinion. They would eventually be proven

correct, but not before Apple launched podcast support for iTunes in June. Williams

and Stone took a step back and researched the new market, exploring user adoption

rates, technology, and customer acquisition costs. They concluded that they had no real

chance of competing against Apple.

Crucially, however, they didn't simply give up. They realized that the platform they

had built had tremendous scalability and potential. Suppose they doubled-down on

simplicity, and just made a portal where people could share what they were up to.

They looked at existing social networks like Facebook, and researched customer dissatisfaction.

Users loved Facebook for photo-sharing and friend-snooping, but often found the News Feed to be

Users loved Facebook for photo-sharing and friend-snooping, but often found the

News Feed to be overwhelming and cluttered. Their new venture, Twitter, would

provide a back-to-the-basics feed of information, with a focus on news and celebrity. It

seemed crazy, but they pulled it off, accomplishing one of the most successful pivots of the 21st century

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.

to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.

A Classification of Marketing Research

Marketing Research
Marketing Research
Marketing Research

Marketing Research

Marketing Research
Marketing Research
Marketing Research
Marketing Research

Problem

Identification Research

Marketing Research Problem Identification Research Market Potential Research Market Share Research Market

Market Potential Research

Market Share Research

Market Characteristics Research

Sales Analysis Research

Forecasting Research

Business Trends Research

Problem Solving

Research

Segmentation Research

Product Research

Promotion Research

Distribution Research

Problem Solving Research

SEGMENTATION RESEARCH

PRODUCT RESEARCH

Solving Research SEGMENTATION RESEARCH PRODUCT RESEARCH  Determine the basis of segmentation  Establish

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

demography, media, and product image characteristics  Test concept  Determine optimal product design 

Test concept

Determine optimal product design

Package tests

Product modification

Brand positioning and repositioning

Test marketing

Control score tests

Problem Solving Research

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PRICING RESEARCH

Pricing policies

Importance of price in brand selection

Product line pricing

Price elasticity of demand

Initiating and responding to price changes

PROMOTIONAL RESEARCH

Optimal promotional budget

Sales promotion relationship

Optimal promotional mix

Copy decisions

Media decisions

Creative advertising testing

Evaluation of advertising effectiveness

Claim substantiation

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

 Intensity of wholesale & resale coverage  Channel margins  Location of retail and wholesale
 Intensity of wholesale & resale coverage  Channel margins  Location of retail and wholesale
 Intensity of wholesale & resale coverage  Channel margins  Location of retail and wholesale
 Intensity of wholesale & resale coverage  Channel margins  Location of retail and wholesale

The Role of Marketing Research

Customer Groups • Consumers • Employees • Shareholders • Suppliers Controllable Marketing Variables
Customer Groups
Consumers
• Employees
• Shareholders
• Suppliers
Controllable
Marketing
Variables
Marketing
•Product
Research
•Pricing
•Promotion
•Distribution
Assessing
Marketing
Providing
Information
Decision
Information
Needs
Making
Marketing Managers
• Market Segmentation
• Target Market Selection
• Marketing Programs
• Performance & Control

Uncontrollable

Environmental

Factors

Economy

Technology

Laws &

Regulations

Social & Cultural Factors

Political Factors

Marketing Research Process

Step 1: Problem Definition

Step 2: Development of an Approach to the Problem

Step 3: Research Design Formulation Step 4: Fieldwork or Data Collection

Step 5: Data Preparation and Analysis Step 6: Report Preparation and Presentation

Step 4: Fieldwork or Data Collection Step 5: Data Preparation and Analysis Step 6: Report Preparation

THANK YOU