unit v marketing research
TRANSCRIPT
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IN THIS UNIT YOU WILL STUDY ABOUT
•MARKETING RESEARCH- importance, process
and scope, marketing information systems-
meaning, importance and scope.
•Consumer Behaviour- Concepts, importance &
Factors influencing consumer behaviour
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•
• —The American Marketing Association
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•
• —Philip Kotler
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NATURE OF MARKETING RESEARCH
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IMPORTANCE OF MARKETING RESEARCH TO BUSINESS AND INDUSTRY
• Decision making tool
• Management planning
• Problem solving
• Control technique
• Large-scale production
• Complex market
• Pattern of consumption
• Suitable marketing operation
• Pricing
• Marketing strategy
• Distribution
• Sales promotion6
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IMPORTANCE OF MARKETING RESEARCH TO ECONOMY
Avoid crisisReduce
recession
National
IncomeDistributionEmploymentProduction
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SCOPE OF MARKETING RESEARCH
• Market and customer research
• Promotion research
• Distribution channel research
• Motivation research
• Product research
• Pricing research
• Sales research
• Advertising research
• Policy research
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FUNCTIONS OF MARKETING RESEARCH
Evaluating
Explaining
Predicting
Assisting
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PROCESS OF MARKETING RESEARCH
Identifying and
defining research
Extensive literature
survey
Formulation of
hypothesis
Preparing the
research design
Determining
sample designCollecting the data
Execution of the
projectAnalysis of data
Testing of
hypothesis
Generalization and
interpretation
Preparation of the
report or the thesis
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TECHNIQUES OF MARKETING RESEARCH
Survey method
Experimentation
Distributor or store audits
Panels/Consumer panels
Content Analysis
Observation method
Warranty cards
Pantry audits
Use of mechanical devises
Focus group
Field trials11
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FACTORS INFLUENCING MARKETING RESEARCH DECISIONS
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LIMITATIONS OF MARKETING RESEARCH
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• —Cundiff, still and Govoni
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CHARACTERISTICS OF MIS
• MIS is a consciously developed master plan for information flow. It is an ongoing
process and operates continuously.
• MIS provides integration and co-ordination among marketing planners, salesforce and
external environment
• MIS is future oriented. It anticipates and prevents problems as well as solves marketing
problems.
• MIS provides scientific base to marketing with the help of operations research
techniques
• Management gets a steady flow of information on a regular basis, the right
information. For the right people, at the right time.
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IMPORTANCE OF MIS
Help
understand
customer's
needs and
wants
Help Assessing
Needs of Customers
Capture Interaction
between firms and
customers
Attract potential
customers
Helps assessing
customer’s buying
behavior
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SCOPE OF MIS
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COMPONENT OF MIS
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INTERNAL MARKETING INFORMATION
• The most basic information system used by marketing managers is the internal records
system.
• They include detailed reports on orders, sales, prices, inventory levels, receivables,
payables and so on .
• By analysing this information, marketing managers can spot important opportunities
and problems.
• All enterprises which have been in operation for any period of time have a wealth of
information. However this information often remains underutilised because it is
compartmentalised, either in the form of an individual entrepreneur or in the
functional departments of larger businesses.
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MARKETING INTELLIGENCE SYSTEM
• Marketing intelligence is the systematic collection and analysis of publicly available
information about competitors and developments in the marketing environment.
• A MIS is a set of procedures and sources used by managers to obtain their everyday
information about relevant developments n the marketing environment.
• The scanning of the economic and business environment can be undertaken ina
variety of ways, including:
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Unfocussed
scanning
Semi-focused
scanning
Informal
searchFormal search
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MARKETING RESEARCH
• Marketing research is the third component of MIS.
• Marketing research is the systematic design, collection,analysis and reporting of data and findings relevant to aspecific marketing situation facing the company.
• Marketing research is only a part of MIS, while MIS is anongoing system
• Thus, MIS is a wider concept than marketing research.
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ANALYSIS AND PROCESSING OF INFORMATION
• Within the MIS there has to be the means of interpreting information in order to givedirection to decision. These models may be computerised or may not. Typical tools are:
• Time series sales models
• Brand switching models
• Linear programming
• Elasticity models
• Regression and correlation models
• Discounted cashflow
• These are similar mathematical, statistical, econometric and financial models are theanalytical sub-system of the MIS. A relatively modest investment in a desktop computer isenough to allow an enterprise to automate the analysis of its data.
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LIMITATIONS OF MIS
Not
Preferred
Depends on
database
Requires
new set of
skills
Installing the
software is
expensive
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•
• —Belch and Belch
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CONSUMER BEHAVIOUR
• It is study of when, why, how and where people do or do not buy a product.
• It blends elements from psychology, sociology, social anthropology, andeconomics.
• It attempts to understand the buyer decision making process, both individuallyand in groups.
• The term consumer buying behaviour, end user behaviour and buyerbehaviour all stands for the same.
• Consumer behaviour may be defined as the decision process and physicalactivity individuals engage in when evaluating, acquiring, using, or disposing ofgoods and services.
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NATURE OF CONSUMER BEHAVIOUR
• Systematic process
• Different for different customers
• Varies across regions
• Reflect status
• Improves standard of living
• Information search
• Influenced by various factors
• Different for different products
• Vital for marketers
• Result in spread-effect
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IMPORTANCE OF CONSUMER BEHAVIOUR
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FACTORS INFLUENCING CONSUMER BEHAVIOUR
Psychological
factors
Personal
factorsSocial factors
Cultural
factors
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CULTURAL FACTORS
Culture
Sub culture
Social class
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SOCIAL FACTORS
Reference groups
Family
Roles and status
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PERSONAL FACTORS
Personality
and self
concept
Life styleOccupation
Age and
life cycle
stage
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PSYCHOLOGICAL FACTORS
Beliefs &
AttitudeLearning PerceptionMotivation
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BUYING DECISION PROCESS
Problem
recognition
Pre-Purchase
information
search
Evaluation of
Alternatives
Purchase
decision
Post purchase
behavior
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BUYING HABITS OF CONSUMERS: LEVELS OF CONSUMER DECISION-MAKING
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