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8/8/2019 Market Research Sonu
http://slidepdf.com/reader/full/market-research-sonu 1/31
MARKETING RESEARCH
MADE BY:
IPSHITA AGRAWAL
SHILPI MISHRA
HARMANJOOT SINGH
ISHA MAKEJA
SONU KUMAR GUPTA
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What is Market Research
Marketing research, or market research, is a form of businessresearch and is generally divided into two categories: consumer
market research and business-to-business (B2B) market research,which was previously known as industrial marketing research.
Consumer marketing research studies the buying habits of individual people while business-to-business marketing research
investigates the markets for products sold by one business toanother.
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DEFINITION
Marketing research as a systematic design,collection, analysis, and reporting of data and
finding relevant to a specific marketing
situation facing the company.
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PROCESS
MAKE THE DECISION
PRESENT THE FINDING
ANALYSE THE INFORMATION
COLLECT THE INFORMATION
DEVELOP THE RESEARCH PLAN
DEFINE THE PROBLEM,THE DECISION ALTENATIVE,AND THE RESEARCH OBJECTIVE
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Define the problem
Problem should not be define either too
broadly or too narrowly.
Clarity on the following help define theproblem appropriately:
What is to be researched?
Why is to be researched?
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Develop the research plan
This involve decision on the data source, researchapproach, research instrument, sampling plan and contactmethods.
A)DATA SOURCE: collection of secondary and primary data.B)RESEARCH APPROACH: primary data can be collected in 5
ways:
1)observation research:
2)focus group research:
3) survey research:4)Experimental research:
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CONT..
C)RESEARCH INSTRUMENT: they arequestionnaire, qualitative measures andtechnological devices. The main is
questionnaire.
These are of two type:
PRIMARY DATA: which we directly taken by
public. For eq- questionnaire.SECONDARY DATA: data obtained from internal
and external records from company.
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Q UESTIONNAIRES
Q uestionnaire consists of a set of questionpresented to respondents. Its has two typesclosed ended question and open ended
question.
a) Closed ended question:
1. Dichotomous: a question with two possible
answer.2. Multiple choice: a question with three or
more answer.
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Cont
3. Likert scale: respondent show the amount of agreement and disagreement.
4. Semantic differential: a scale connecting twobipolar words.
5. Importance scale: that rates the importanceof some scale.
6. Rating scale: scale that rate some attributes.7. Intention to buy: describe the respondents
intension to buy.
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Cont.
b ) Open ended question:
1. Completely unstructured: respondents can answer inan almost unlimited number of ways.
2. Words association: first word that comes to the mind.3. Sentence completion: incomplete sentence is
completed by respondent.
4. Story completion: incomplete story can be completed
by the respondent.5. Picture: respondent are asked to indentify the picture
and then fill the blanks.
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Secondary Data
Data collected for purposes other than solving
problem on hand
Obtained from internal records of company
and external sources
Need for Secondary Data:
Duplication of research can be avoided
Sources of information on countries, products, markets,
competitors and potential customers should be checked
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Steps involved in Resarch before collecting
primary data
- Check reference
- Conduct secondary research on-line and in
the library
- Select Multi-client studies
- Select foreign forms for collaboration
- Solicit proposals for fieldwork and analysis
- Finalize client proposal
- Start primary research
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Uses of Secondary Data
New ideas
Better definition of problem
Aid primary data collection
Define the population and parameters of
primary research
Reference to compare validity of primary
data
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Advantages of Secondary Data
Savings in cost and time
Study feasibility of project
Historic data
Sometimes more accurate
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Problems in Collecting Secondary Data
Dearth of data
Comparability across countries
Differences in usage
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Electronic Point of Sale Scanning
Bar coding, scanning, and computerized information
are all part of the new trend in retail auditing.
Scanner data in Europe: Scanner based
tracking services will be useful if there are
number of retail locations that engage in scanning
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Syndicated Data Sources
They are collected for a set of information users
with a common need.
Examples include: Scanner data, consumer panels,
store audits, etc.
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SAMPLING
Sampling is the process of selecting units (e.g.,
people, organizations) from a population of interest so that by studying the sample we
may fairly generalize our results back to the
population from which they were chosen.
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SAMPLING PLAN
Sampling Unit ² W ho should we survey?
For example, in the Air India survey, should the sampling
unit consist only of business class travellers, first class
vacation travellers or both?
Sample Size ² H ow many people should we survey?
Large samples give more reliable results, but its not necessary
to sample the entire target population to achieve reliable results.
Sampling Procedure ² H ow should we choose the respondents?
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METHODS FOR SELECTING THE
RESPONDENTS
Probability Sampling
Non Probability Sampling
A probability sampling method is any method of sampling that utilizes some form of random selection.
In order to have a random selection method, you must
set up some process or procedure that assures that the
different units in your population have equal
probabilities of being chosen.
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TYPES OF PROBABILITY
SAMPLING
1. Simple random sampling- E very member of the population has an equal chance of selection .
2. Stratified random sampling- T he population is divided into mutually exclusive groups and random samples are
drawn from each group.
3. Cluster sampling- T he population is divided into mutually exclusive groups(such as city blocks) and the
researcher draws a sample of the groups.
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NON PROBABILITY SAMPLING
Non probability Sampling
T he difference between non probability and probability sampling is that non probability sampling does not
involve random selection W ith non probability samples, we may or may not
represent the population well, and it will often be hard for us to know how well we've done so. In general,
researchers prefer probabilistic or random sampling methods over non probabilistic ones, and consider them to be more accurate and rigorous.
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TYPES OF NON
PROBABILITY SAMPLING
1. Convenience Sampling- T he researcher
selects the most accessible population members.
2. Judgmental Sampling- T he researcher selects population members who are good prospects for
accurate information.
3. Quota Sampling-T he researcher finds and
interviews a prescribed number of people in each of
several categories.
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Collect the information
The data collection phase of marketingresearch is generally the most and expensive
and the most prone to error.
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Analyze the information
Is to extract finding by tabulating the data anddeveloping the frequency distribution. The
can compute average and measures of
dispersion and apply advance statistical
technique.
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Present the finding
The researcher presents finding relevant to
measure marketing decisions facing
management. For ex: delta airlines created a
video of its primary business customer ,
personified in a character and showed it to
flight attendance and airport personal.