ENTREPRENEURSHIP DEVELOPMENT

Submitted To,
Prof. Anil G S
Department of Management Studies
Bishop Jerome Institute
Kollam.
Presented By,
Ginu L Prakash
S4 MBA
Bishop Jerome Institute
Kollam
Marketing research of pre-start-up planning
Sources of marketing research information
Implication of market research
What Is Marketing Research:

Marketing Research is the function which
links the consumer,customer and public to the
marketer through information
What is Marketing Research?
Marketing Research:

Identifies and defines marketing
opportunities.

Generates, refines, and evaluates
marketing actions.

Monitors marketing performance.

Improves understanding of marketing
as a process.
Marketing Research:

Specifies the information required to address these
issues .

Designs the methods for collecting information.

Manages and implements the data collection process.

Analyzes the results.

Communicates the findings and implications.
Goals of Market Research
To find out:

Who is most likely to purchase the product or
service at market introduction?
What do these customers typically buy, how do
they buy it, and how do they hear about it?
What is their buying pattern? How often do they
buy?
What are the customers needs and how can the
new venture meet those needs?
Marketing Research can reveal
consumer characteristics:

Demographic.
Socio-economic.
Life-style.
Awareness.
Behavior (past, present and intended )
Market research in pre start up
phase
Who is the customer?
Gender and Age
Income Status
Occupation and Education
Other customer characteristics
Market research in pre start up
phase
Where is the market?
Market size and changes
Segmenting the Market
Growth characteristics
Sales Forecast
Market research in pre start up
phase
Competition
Who are the market players?
Existing competitors
Products or substitutes
Market research in pre start up
phase
Distribution
How will customers be reached?
Market research in pre start up
phase
Sources of market intelligence:
Existing competitors
Trade publications
Securities Analysts Reports
Potential customers
The Marketing Research Process
Primary Versus Secondary Data
Primary data: information that is developed or
gathered by the researcher specifically for the
research project at hand
Secondary data: information that has previously
been gathered by someone other than the
researcher and/or for some other purpose than
the research project at hand


Sources of marketing research
information

1. Internal Sources
2. External Sources
1. Internal Sources
Company Accounts
Internal Reports and Analysis
Stock Analysis
Retail data - loyalty cards, till data, etc.
2. External Sources
Government Statistics
Trade publications
Household Expenditure Survey
Magazine surveys
Other firms research
Research documents publications, journals, etc.

Advantages of Market Research
Helps focus attention on objectives
Aids forecasting, planning and strategic development
May help to reduce risk of new product development
Communicates image, vision, etc.

Disadvantages of Market Research
Information only as good as the methodology used
Can be inaccurate or unreliable
Results may not be what the business wants to hear!

Types of Probability Sampling
Simple Random
Stratified Random Sampling
Cluster Sampling
Systematic Sampling
Convenience Sampling

Consecutive Sampling

Quota Sampling

Judgmental Sampling

Snowball Sampling

TYPES OF NON- PROBABILITY
SAMPLING