marketing research problem and devloping approach
TRANSCRIPT
![Page 1: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/1.jpg)
Prakash SharmaAsst. Business Development OfficerIndiaReportMetrix Web Services (P) Ltd.
![Page 2: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/2.jpg)
![Page 3: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/3.jpg)
![Page 4: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/4.jpg)
![Page 5: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/5.jpg)
![Page 6: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/6.jpg)
![Page 7: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/7.jpg)
![Page 8: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/8.jpg)
![Page 9: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/9.jpg)
![Page 10: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/10.jpg)
![Page 11: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/11.jpg)
![Page 12: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/12.jpg)
![Page 13: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/13.jpg)
In 2005, Harley had about 50% market share in the heavyweight category
Wondering whether to invest in new production facilities and become the unquestioned market leader
Element of high risk
![Page 14: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/14.jpg)
Spoke to industry experts Analyzed secondary data Conducted focus groups Studied forecasts Analyzed its resources and
technological and marketing skills to achieve its objective of being the dominant motorcycle brand
![Page 15: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/15.jpg)
Experts: Brand loyalty, an important factor influencing sales and repeat sales
Secondary data: Vast majority of motorcycle owners also owned automobiles
Focus groups showed motorcycles are used for recreation and brand loyalty is important
Forecasts called for an increase in consumer spending on recreation and entertainment
![Page 16: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/16.jpg)
Should Harley Davidson invest to produce more motorcycles?
![Page 17: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/17.jpg)
Would customers be loyal in the long run? (Broad statement)
Specific components: Who are the customers? Demographics
and psychographics Can different types of customers be
distinguished? Is it possible to segment the market in a meaningful way?
![Page 18: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/18.jpg)
How do customers feel regarding their Harley? Are all customers motivated by the same appeal?
Are the customers loyal to Harley? What is the extent of brand loyalty?
![Page 19: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/19.jpg)
Problem definition involves stating the general problem and identifying the specific components of the marketing research problem
Better communication and more involvement in problem definition are the most frequently mentioned ways of improving the usefulness of research
![Page 20: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/20.jpg)
![Page 21: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/21.jpg)
Tasks involved:
Discussions with DM Interviews with Experts Secondary Data Analysis Qualitative Research
Environmental context of the Problem
Step 1: Problem definitionManagement decision problemMarketing Research Problem
Step 2: Approach to the Problem
Theoretical Foundation Analytical Model Research Questions Hypotheses Specifications of Information
Step 3: Research Design
![Page 22: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/22.jpg)
Problem audit is a comprehensive examination of a marketing problem with the purpose of understanding its origin and nature
History of the problem; alternative courses of action available; information needed to answer the DM’s questions, etc.
![Page 23: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/23.jpg)
Required 7Cs: - Communication- Cooperation- Confidence- Candor- Closeness- Continuity- Creativity
![Page 24: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/24.jpg)
Inside and outside the firm Unstructured personal interviews Without formal questionnaire List of topics as a discussion guide The purpose is to define the marketing
research problem rather than to develop a conclusive solution
![Page 25: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/25.jpg)
Secondary data Primary data Primary data should not be collected
until the secondary data have been fully analyzed
![Page 26: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/26.jpg)
Qualitative: Unstructured, exploratory, based on small samples, focus groups, word association, in-depth interviews
Pilot surveys: Exploratory research technique; less structured; more open-ended questions and the sample size is much smaller
Case studies
![Page 27: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/27.jpg)
Wrt: sales, market share, profitability, technology, population, demographics and lifestyle
![Page 28: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/28.jpg)
Money and research skills Cost and time Find ways to reduce scope e.g.
research key markets instead of a national basis
![Page 29: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/29.jpg)
Goals of the organization and of the decision maker must be considered
![Page 30: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/30.jpg)
Number and geographical location Demographic and psychological
characteristics Product consumption habits Media consumption and response to
promotions Price sensitivityCDM (Cricket & Meetha) is a good example
![Page 31: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/31.jpg)
Legal environment can have a bearing on the marketing research problem
Restrictions on sale of cigarettes and alcohol to underage customers
Government not allowing entry of MNCs in Retail (multiple brands)
![Page 32: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/32.jpg)
Comprises purchasing power, disposable income, general economic conditions, etc.
Due to inflation in India people are flying less/eating out less
![Page 33: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/33.jpg)
Affect the nature and scope of the marketing research project
Microsoft
![Page 34: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/34.jpg)
MDP Asks what the decision
maker needs to do
Action-oriented Focuses on symptoms
e.g. Should a new product be introduced?
e.g. Should the ad campaign be changed?
MRP Asks what information is
needed and how it should be obtained
Information-oriented Focuses on the underlying
causes Determine consumer
preference and purchase intention
Determine effectiveness of current campaign
![Page 35: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/35.jpg)
Marketing Research Problem
Broad statement
Specific components
Component 2Component 1 Component 3
![Page 36: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/36.jpg)
Objective/Theoretical framework: In general, research should be based on objective evidence and supported by theory
Harley Davidson example, the underlying theory was that brand loyalty is the result of positive beliefs, attitude, affect, and experience with the brand
![Page 37: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/37.jpg)
Analytical model: A set of variables and their interrelationships designed to represent, in whole or in part, some real system or process
Forms: Verbal, Graphical, Mathematical - e.g. Harley
Beliefs Attitudes Purchase Experience Repeat Purchase Loyalty
Affect
![Page 38: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/38.jpg)
Research Questions: Refined statements of the specific components of the problem
RQ: Can the motorcycle buyers be segmented based on psychographic characteristics?
![Page 39: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/39.jpg)
Hypotheses: Unproved statement or proposition about a factor or phenomenon that is of interest to the researcher. Often a hypothesis is a possible answer to the research question
H1: There are distinct segments of motorcycle buyers
H2: Each segment is motivated to own a Harley for a different reason
![Page 40: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/40.jpg)
Specification of information needed
![Page 41: marketing research problem and devloping approach](https://reader033.vdocuments.us/reader033/viewer/2022051615/5527a2c8497959f60f8b4ae8/html5/thumbnails/41.jpg)
Thanx