Methodology Of

Product Research
 Marketing research
 Market research is the process of systematic
gathering, recording and analyzing data about
customers, competitors and the market.
 And the process of doing marketing research
in different nations is said to be International
Marketing Research.
Role of International Marketing Research
 International marketing research plays an
important role in the identification of threats and
opportunities and development of a company’s
strategies for globalization.
 It enables a business to identify, evaluate and
compare potential foreign market opportunities
and develop a marketing plan.
 Research also provides a company with foreign
market intelligence to help it anticipate events,
take appropriate action, and prepare for global
changes.
Steps Of Doing Marketing Research
 COMPETITOR ANALYSIS
 OVERALL MARKET ANALYSIS
 END USER/CUSTOMER ANALYSIS
 ENVIRONMENTAL ANALYSIS
 FORMULATING MARKETING
STRATEGIES
 COMPETITOR ANALYSIS
 Product range
 Product’s price positioning
 Years of existence in the market
 Competitor’s target market
 Competition growth rate
 SWOT Analyses
 SWOT ANALYSIS
Internal Scan External Scan
 People (Human Resources)  Social factors
 Properties (Buildings,  Technological factors
Equipments and other  Economic factors
facilities)  Environmental factors
 Processes (Technology,  Political factors
R&D, M.I.S etc.)
 Products
 OVERALL MARKET ANALYSIS
 Overall market Size
 Growth of Total Market
 Addressable Market
 END USER/CUSTOMER ANALYSIS
METHOD
 Telephone interviews based
on standard questionnaires.
 Case studies are carried out
as in-depth interviews -
most often face-to-face.
 Focus Groups Discussions.
ANALYSIS
 Lifestyle
 Brand Awareness
 Purchase behaviour
 Perception of brands
 Price sensitivity
 Preference
 ENVIRONMENTAL
ANALYSIS
METHODS ANALYSIS
 Indicators of the economy
 Government stability and
policies
 Technology and
infrastructure
 Socio-cultural factors
 Environmental Laws
MARKETING STRATEGIES
COUNTRY SPECIFIC PRODUCT

CULTURAL DIFFERENCES GUIDELINES

 Language  Develop cultural empathy
  Be culturally neutral and realize
Religion
that different is not necessarily
 Traditions better or worse
 Images  Never assume transferability of a
concept from one culture to
 Symbols another
 Roles in the family  Get cultural informants involved
 Colour into the decision-makings.
 LOCATION ANALYSIS
 STEPS:
 Define critical project drivers
 Develop selection criteria
 Conduct location selection
 TARGET MARKET
 Check out your competition
 Analyze your product/service
 Consider the psychographics of your target
audience
 POSITIONING
 Define the segments in a particular market.
 Decide which segments to target.
 Understand what the target consumers expect and believe to be
the most important considerations when deciding on the
purchase.
 Develop a product (or products) that caters specifically for these
needs and expectations.
 Evaluate the positioning and images, as perceived by the target
customers, of competing products in the selected market
segments.
 Select an image that sets the product apart from the competing
products, thus ensuring that the chosen image matches the
aspirations of the target customers.
 Inform target customers about the product (promotion).
 PRODUCT PORTFOLIO
The BCG matrix method
determines product portfolio of a
business unit.

1.Question Marks (= high growth,

low market share)

2. Stars (=high growth, high market

share)

3. Cash Cows (=low growth, high

market share)

4. Dogs (=low growth, low market

share)
THANK
YOU
Prepared by:- Section IM-1
Debaditya
Deepak Virmani
Nakshatra
Renubala
Rajesh Ranjan
Sanjeev
Sachit Chawla
Shivprasad Chauhan
Tajinder Pal Singh Puri