Research Uma Kanjilal

Functional Roles of Marketing Research DescriptiveStatements of fact DiagnosticExplanation of data PredictiveUsing data for forecasting

Relevance of Market Research  Identification of market opportunities  reduce uncertainty  Identification of potential problem  Track progress  Evaluate success or failure  Design communication tools for target market

Information generated from market research  Market segments  Purchasing power and buying habits  Psychological factors  Competition in the market  Environmental factors

The Market Research Process Defining the market Problems and Opportunities Designing Research Plan Collection of Data Organize and analyze data Present and Utilize Market Research Data

Problem statements are related to:  Launching of new products  Low awareness  Poor company image  Problems related to distribution

Objectives of research must fulfill the following criteria:  Reasonableness  Specificity  Measurability

Types of research:  Exploratory  Descriptive  Causal

Elements of market plan  Sources of data- primary or secondary  Research techniques - observation - experimentation - survey

Survey contacts through:  Postal/fax/  Telephone  Face to face  Online

Types of questions for survey:  Dichotomous  Multiple choice  Open ended

Collection of data  Probability sampling - simple random sample - stratified sample - cluster sample  Non-probability sampling - convenience sample - judgment sample - quota sample

Research report presentation  Simple and brief  Summary provided  Use of visual formats  Detailed statistical analysis appended

Types of research agencies:  Syndicate research firms  Custom marketing research firms  Specialty line marketing research firms