1 MRA - Role and Value of Market Research

Market Research Applications

Contents Role and value of market research in marketing framework Data analysis – Tabulation, SPSS applications data base,

testing for association Multivariate techniques Perceptual mapping  applications in market research Applications of MR in consumer research, advertising, test

marketing, Usage attitude studies, Television viewer ship surveys; Media effectiveness study; Annual readership survey of print media etc.

Report  preparation and presentation; interpretation of MR reports

Brand tracking study Field project on market research on any functional / industry

verticals.

Role and Value of Market Research in Marketing Framework

The Role of Marketing Research

Information for

Marketing Decisions

Marketing

Strategy

Marketing Plan

Segmentation

Target Market

Selection

Positioning

4 Ps of Marketing

ProductPricing

PromotionPlace

LEVEL 1(Strategic)

LEVEL 2(Tactical)

Marketing Intelligence Versus Marketing Research…Marketing Intelligence

An ongoing process of continuously collecting information about the industry in which our company operates, competitors’ moves in marketing or other functional areas, related industries (eg. suppliers or substitute products), government policies and actions in areas of export, import, taxation, etc.

Marketing ResearchA clearly defined search for answers to some

questions, which if answered would lead our company to make critical marketing decisions on a strategic or tactical level

… Marketing Intelligence Versus Marketing Research

Marketing Intelligence Marketing Research

Ongoing ProcessUsually done in-

houseNot meant for

immediate actionGeneral purposeFocus on

competition, environment

Project based on information gap

Mostly outsourced to M.R. companies

Action orientedVery specific

answers to questionsFocus on consumers,

influencers

Applications of Marketing Research…Strategic

Demand ForecastingSales ForecastingSegmentation StudiesIdentification of Target MarketsPositioning Strategies Identification

…Applications of Marketing ResearchTactical

Concept ResearchProduct ResearchPricing ResearchDistribution ResearchAdvertising Research

Limitations of Market Research

Differences in Methodology

Complementary Inputs for Decision-Making

Secondary and Primary ResearchSecondary Research

Any information we may use, but which has not been specifically collected for the current marketing research

Primary ResearchResearch which involves collecting

information specifically for the study on hand, from the actual sources such as consumers, dealers or other entities involved in the research

Assignment Question

List out some ethical issues in marketing research, which companies/ individuals doing research must grapple with