An Introduction to Marketing Research

marketing research is the process of designing, gathering, analyzing and reporting of information that may be used to solve a specific marketing problem.

Its an important part of marketing management as it not only provide marketer requisite information to help them interpret past performance and plan future activities but also help them in takeing best possible tactical decisions in short run and strategic decision in the long run.

What is online research?Online research: the use of computer networks, including the Internet, to assist in any phase of the marketing research process including development of the problem, research design, data gathering, analysis, and report writing and distribution

The Marketing Research Process: 11 StepsStep One:Establishing the Need for Marketing ResearchStep Two:Defining the ProblemStep Three:Establishing Research ObjectivesStep Four:Determining Research DesignStep Five:Identifying Information Types and SourcesStep Six:Determining Methods of Accessing Data

The Marketing Research Process: 11 Steps contStep Seven:Designing Data Collection FormsStep Eight:Determining Sample Plan and SizeStep Nine:Collecting DataStep Ten:Analyzing DataStep Eleven: Preparing and Presenting the Final Research Report

The Marketing Research ProcessStep One: Establish the Need for Marketing Research

Marketing Research is not needed when the:required information is already availabledecisions need to be made noworganization cant afford the researchcosts outweigh the value of the research

The Marketing Research ProcessStep Two: Define the Problem

The most important step in the marketing research process is defining the problem.

The Marketing Research ProcessStep Three: Establish Research ObjectivesWhat information is needed in order to solve the problem?

The Marketing Research ProcessStep Four: Determine Research Design

Exploratory Research: collecting information in an unstructured and informal mannerDescriptive Research: refers to a set of methods and procedures describing marketing variablesCausal Research (experiments and other approaches): allows isolation of causes and effects

The Marketing Research ProcessStep Five: Identify Information Types and Sources

Secondary Data: information that has been collected for some purpose other than the research at handPrimary Data: information that has been gathered specifically for the research objectives at hand

The Marketing Research ProcessStep Six: Determine Methods of Accessing Data

Secondary Data: accessing data through sources such as the Internet and libraryPrimary Data: collecting data from participants through methods such as telephone, mail, online, and face-to-face (quantitative), and observation studies and focus groups (qualitative)

The Marketing Research ProcessStep Seven: Design Data Collection Forms

The design of the data collection form that is used to ask or observe and record information in marketing research projects is critical to the success of the project. It is easy to write a set of questions but very difficult to construct a questionnaire.General types of instruments (forms)QuestionnairesObservation Study forms (protocols)

The Marketing Research ProcessStep Eight: Determine Sample Plan and Size

Sample plan: refers to the process used to select units from the population to be included in the sampleSample size: refers to determining how many elements (units) of the population should be included in the sample

The Marketing Research ProcessStep Nine: Collect DataSound data collection is very important because, regardless of the data analysis methods used, data analysis cannot fix bad data. 12 Non sampling errors may occur during data collection. These are related to poor design and/or execution of the data gathering.Sampling errors may occur based purely on chance

The Marketing Research ProcessStep Ten: Analyze Data

Data analysis: involves entering data into computer files, inspecting data for errors (data cleaning), running tabulations (frequencies), and conducting various statistical tests

The Marketing Research ProcessStep Eleven: Prepare and Present the Final Research Report

Findings are presented, often by research objective, in a clear and concise way.The need for a good report cannot be overstated. It is the report, and/or its presentation, that properly communicates the results to the client.

Scope of Marketing ResearchSales AnalysisProduct ManagementAdvertising ResearchCorporate ResearchSyndicated Research

Growing Importance of Research in IndiaMonopolistic BusinessDemand was more than SupplyBusiness was local; hence close to customers

Challenges faced in IndiaCountrys vast sizeDiversity in the populationInfrastructure problemLiteracy IssuesAttitudinal problems

Marketing Research: A Brief HistoryPre-Marketing Research Era: colonization to the Industrial RevolutionEarly Development Era: Industrial Revolution to 1920Questionnaire Era: 1920-1940Quantitative Era: 1940 to 1960Organizational Acceptance Era: 1960 to 1980PC Technology Era: 1980 to 1990Globalization-Online Era: since 1990