30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Marketing Research The Problem!!

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Overview Problem Definition Steps Involved Components In Each Step

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Problem Definition The most important step. Problem has to be correctly understood and properly defined. That’s the key. There is a specific approach to defining the problem.

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Approach to Problem Definition 1.Background Study 2.Environmental Context 3.Specifying the Problem 4.Selecting an Approach Leads to Research Design

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Background Study Discussion with decision makers –Problem audit: events, alternative courses. Interviews with experts –Choose experts well Secondary Data Analysis Qualitative Research –Exploratory using small samples, focus groups

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Environmental Context P ast Information and Forecasts R esources and Constraints of Firm O bjectives of Decision Maker/Researcher B uyer Behavior-geog/demo/price/preference L egal Environment E conomic Environment M arketing and Technological Skills

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Specifying the Problem Understand the management decision problem first-what action will be taken on the basis of the research report? Next, decide on the marketing research problem-what information is needed and how do I collect it?

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Specifying the Problem MD problem Should a new product be introduced? Should we increase the price? MR Problem Find the customer preference & purchase intention for the new product. Find the price elasticity & impact of various price changes on sales/profits

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Selecting an Approach The output of the approach development includes: a.Objective/Theoretical Framework b.Analytical Models c.Research Questions d.Hypothesis e.Specifying the information needed

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum A. Objective/ Theoretical Framework Research = Objective evidence + Theory Objective Evidence is compilation of secondary data (unbiased & based on experiments) Theory can be identified from academic literature-books, magazines. It may be incomplete

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum B. Analytical Models We can show how a system is actually a set of variables and their relationship using models. Eg. Falling in love could be due to two personal things-attraction and feeling need to be loved. It can be depicted as: Attraction Need to be loved Individual Factors

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum B. Analytical Models Upon further research we found that there are 2 external factors that influence love between people, they are: Circumstance and routine events. It can be depicted as: Individual Factor Attraction Need to be loved Routine Events Circumstance External Factors

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum B. Analytical Models So, our final model can be as follows: This is a graphical model. Can be verbal or mathematic Individual Factors Attraction Need to be loved Routine Events Circumstance External Factors Concept of Love

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum C. Research Questions Problems must be broken down into specific research questions Questions can be made using theoretical framework plus models It can be further refined to hypothesis

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum D. Hypothesis Its an unproven statement about a factor that the researcher is interested in. It is usually the possible answer to a research question Example Question Q1: Does society play a role in people falling in love? Hypothesis H1: Social factors operate when two people fall in love. (We have to prove/disprove it with data)

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum E. Specifying Needed Information Focus on all components of the problem, the framework, models, questions, hypothesis and specify the final information needed. Personal Factors –Need to be loved –Attraction External Factors –Circumstance –Routine Events –Social Factors (?)

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum E. Specifying Needed Information The final questionnaire should contain questions on all to check with couples: How to do you rate its importance? Personal Factors –Need to be loved –Attraction External Factors –Circumstance –Routine Events –Social Factors-Do you think it is important? Yes/No –If yes,

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Final Model So, our final model could be as follows: Individual Factors Attraction Need to be loved External Factors Concept of Love Routine Events Circumstance Social Factors

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum To Sum Up Conducted Background Study Checked the Environmental Context Specified the Problem Selected an Approach a.Objective/Theoretical Framework b.Analytical Models c.Research Questions d.Hypothesis e.Specifying the information needed Finally Leads to Research Design

30/10/2007 9:15-11:45amAsian School of Business, Trivandrum Thank You End of Session