SUBMITTED TODR. MOHD.

RUMZI TAUSIF

SUBMITTED BYLALIT SINGLA MBA 3RD TERM 100251040 (roll no) Nov 16, 2011

SHARDA UNIVERSITY

WHAT IS MARKETING RESEARCH? Marketing research is "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 understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications. Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes. Marketing research is often partitioned into two sets of categorical pairs, either by target market:

Consumer marketing research, and Business-to-business (B2B) marketing research Or, alternatively, by methodological approach: Qualitative marketing research, and Quantitative marketing research

Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy.[1] The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets. Market research is a key factor to get advantage over competitors. Market research provides important information to identify and analyze the market need, market size and competition. Market research, as defined by the ICC/ESOMAR International Code on Market and Social Research, includes social and opinion research, [and] is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making

FUNCTIONS OF RESEARCH AGENCIES ?

A market research agency can be involved in several stages of a research project. The first occasion is at the start-up of the research projet. The agency will analyse the problem and advise on the methology. The next phase is the data collection. This is called the fieldwork when new data is gathered either from individuals or from group discussions. Desk research refers to the research based on existing data. The data collection phase is followed by the data analysis. This involves the analysis, which can vary from simple to more complex statistical analyis, as well as the presentation of the results in a report. In the last phase, the agency has a consultancy role. They interpret the results, draw conclusions and give recommendations for further action. The second phase the fieldwork is the base function of a market research agency. Some agencies limit themselves to only organising fieldwork and data analysis , while other agencies are also involved with advising on the methodology and with interpreting the results (phase 1 and 4). The needs of the clients vary: some require support along all phases, while others only require help with the fieldwork or the data analysis. The task of Research agencies is to provide management with relevant, accurate, reliable, valid, and current information. Competitive marketing environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment. Marketing managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs. They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control. These decisions are complicated by interactions between the controllable marketing variables of product, pricing, promotion, and distribution. Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes. Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, consumers' response to marketing programs cannot be predicted reliably or accurately. Ongoing marketing research programs provide information on controllable and non-controllable factors and consumers; this information enhances the effectiveness of decisions made by marketing managers.

SCOPE OF RESEARCH AGENCIES? Provide opportunities for researchers to work for a variety of internal clients so that he/she can gain a broad yet deep understanding of the company or business unit. Develop a matrix team approach, allowing various research specialists to assist in the design and analysis of any one study. Hire highly-capable, experienced research people who can offer prestige and know-how to the research group. Extend research managers responsibilities beyond project management, getting them involved in analysis, reporting, and presentation. Encourage researchers to conduct cross-product analysis in order to heighten their understanding of how their research work fits with the companys overall goal or strategy. Establish clear career paths for researchers in order to attract and retain skilled professionals. Train or hire marketing research people who are knowledgeable in marketing as well as the companys industry, enabling them to think strategically with a clear understanding of the implications of their research efforts. A lot of what we do in our daily lives is based on common sense, what we have learnt from others or what we have learnt through personal experience or observation. But sometimes common sense is not the best approach and sometimes there are conflicting theories about what is best or what works in a particular situation. Moreover, what works in one situation or for one condition might be ineffective or even dangerous in another, or when combined with other measures. Common sense approaches may overlook the impact of external factors which may contribute to what is observed. Even in the domain of healthcare, there are gaps in knowledge, theories about how something might work better and ideas for improvement. As healthcare professionals cannot afford to take risks, research is needed. For clinical trials, this is even a legal requirement in that pharmaceutical companies cannot obtain marketing authorization (i.e. permission to sell their new drugs) until they have proved to the relevant authorities that the drug is safe and effective. They do this by performing a series of clinical trials. Carefully organized and controlled research enables researchers to test and compare different theories and approaches, explore different methods and learn from other peoples experience. It also enables them to rule out or at least consider external factors which might influence their results. For example, before concluding that drinking green tea is good for X, Y or Z, it is important to ensure that the tea drinkers studied do not have something else (i.e. other than drinking green tea) in common such as being more physically active than non-tea drinkers or being vegetarians, which might equally explain the findings.

Another advantage to carrying out research is that for a lot of studies, the findings can be recorded numerically and then statistically analysed in order to determine whether the findings are significant (i.e. the extent to which it can be claimed with a specified degree of certainty that they are not just due to chance). With quantitative studies, the results can usually be generalised to the wider population (e.g. to people with dementia, carers, GPs or lay people in general, depending on the group studied). This is because measures would have been taken to ensure that the group of people who took part in the study were, as far as possible, representative of other people in that category. The advantage to many qualitative studies is that they permit an in-depth investigation into a particular aspect of human experience. They give people the opportunity to explain in their own words how they feel, what they think and how they make sense of the world they live in. Whilst it is not possible to make generalisations about a wider group based on a small qualitative study, in some cases the results may be transferrable to other like situations or groups. However, the advantage to qualitative studies is that they provide rich, meaningful data and insight into the complexity of human experience with all its contradictions, differences and idiosyncrasies. Some address topics which have not previously been researched and may even deal with controversial, sensitive or taboo issues. Some studies also serve to give a voice to vulnerable or minority groups.

NATURE OF RESEARCH AGENCIES Exploratory The first depiction of something new Descriptive The depiction of a behaviour or a domain Explanatory Systemic explanation of how past behaviours arose Ascription of causes to prior occurrences Predictive Statement of what occurrences will arise Systemic explanation of how behaviours will arise Statement and explanation of the effect particular interventions will have Normative Statement of interventions necessary to achieve desired outcomes Statement of desired outcomes

LIST OF RESEARCH AGENCIES IN INDIA

Cross Tab - Online market research agency Delphi Research Services - Market research organisation Diksha Research, Coimbatore - Online market research and public relations services IMRB International, Mumbai - Market research agency Lamcon Finance & Management - Market research, financial planning and consultancy Market Pulse - Market research & entry strategy services Nielson India - A leading market research agency Protech India - Market research, consulting & database publishing services Rural Relations - Rural marketing services Rushabh Direct Marketing - Direct marketing, mailing & database management services Sampling Research - Market research and analytics services Samsika Marketing Consultants - Marketing consultancy & brand management courses TNS India - Market research services provider in Delhi Tecnova, Gurgaon - Market research consultancy services Telebrands India - Offers telemarketing services