MARKETING RESEARCH APPLICATIONS MMS COURSE 3. 1.

3 B
Allana MMS Semester III 2011 Sameer Phanse Marketing & IT Consultant

August 22, 2011

Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH

ROLE & VALUE

Session 1

August 22, 2011

Sameer Phanse Marketing & IT Consultant

SESSION OBJECTIVES
Introduction Teaching Plan and Evaluation Scheme Marketing Research In Perspective What is Marketing Research? Marketing Research vis--vis Market Research vis Why study Marketing Research? Marketing Research Applications Marketing Research, Marketing Decision Support Systems & Marketing Intelligence Systems The Marketing Research Stimuli Benefits of Marketing Research Limitations of Marketing Research

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

TEACHING PLAN: MARKETING RESEARCH APPLICATIONS

1,2 Marketing Research Need, Role & Significance FP CD Q C 3,4 Data Analysis Tabulation, SPSS applications database, Testing for Association ( Covered in 2.6 Research Methodology & Fundamentals of Marketing Research) SP CD 5,6 Multivariate Techniques Interdependence Techniques Factor Analysis, Cluster Analysis, Dependence Analysis, Discriminate Analysis, Combination with Cluster Analysis, Conjoint Analysis - FP CD 7,8 Perceptual Mapping, Perceptual Mapping applications in Marketing Research, OnOn-Line Marketing Research, Internet Research Methodology (Specially added ) FP CD C 9,10 Applications of Marketing Research Applications of Marketing Research in Consumer Research, Advertising, Test Marketing, Usage attitude studies, TV viewership Surveys, Media effectiveness study, Annual readership survey of print FP SP CD media, Student teams to present cases from various application domains 11,12 The Marketing Research Report Report preparation & presentation, Interpretation of Marketing Research reports, how to read ORG-Nielsen store audit ORGreport FP CD C SP 13 Students Briefings/Presentations of Marketing Research Reports of Field Projects SP CD Q

FP: Faculty Presentation, CD: Class Discussion, C: Case/Caselet, Q: Quiz, Case/Caselet, SP: Students Presentation

August 22, 2011

Sameer Phanse Marketing & IT Consultant

ASSESSMENT

Assessment Plan
y y y y

Written Tests, Quizzes (Oral & Written), End of Semester Written Exam, Viva Voce Presentations Field Report Class Participation & Discussions Due Weight will be allotted to participation & constructive contribution to class discussions Sincerity, Motivation, Creativity, Conceptual clarity & Sophistication of Analyses

Assessment Bases
y y

Notes:
Students must review Research Methodology & Fundamentals of Marketing Research (2.6 First Year Semester II) the base of the current course (3.1. 3 B) y Besides recommended reading, as per Mumbai University Syllabus, students are expected to be familiar with professional journals such as
y

Harvard Business Review Journal of Marketing Research Journal of Advertising Research MIT Sloan Management Review Journal of Marketing, . and so on.

Familiarity with Marketing Research Software Suites such as MM4XL and/or Statistical Software Application Tools such as SPSS is a must
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August 22, 2011

Sameer Phanse Marketing & IT Consultant

GROUP EVALUATIONS

Class Representative to submit Group details (group members with roll numbers & group leader names) today itself
y y

Groups to present during Session 3 Topic Data Analysis

Tabulation SPSS Database Testing for association between two variables

Assessment Individual Evaluation Group Assessment Assessment parameters as enumerated under Assessment

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH AND DECISION MAKING

The prime focus of Marketing Research must be aiding decision making

Conducting MR requires the exercise of various techniques methods and tools y However MR must the decision dilemma & not on the modalities of research design y Marketing Researchers must think as Decision makers and not just as researchers isolated from the decision
y

The ability to reduce uncertainty is what gives information its value

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

DECISION MAKING & MARKETING RESEARCH

Identify Problem or Opportunity Analyze Problem or Opportunity List Alternative Actions

Evaluate Alternative Actions

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Sameer Phanse Marketing & IT Consultant

August 22, 2011

MARKETING RESEARCH IN PERSPECTIVE

Research : Application Domain Business & Management Environment

Business Research Methods Research : Philosophy, Tools Domain Social Science Ideas, Trends
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Sameer Phanse Marketing & IT Consultant Marketing Research Methods

August 22, 2011

MARKETING RESEARCH

What is Marketing Research?

The Marketing Concept Customer satisfaction rather than profit maximization should be the organizational goal y Marketing Research A systematic inquiry that provides information to guide marketing decisions
y

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH VIS--VIS MARKET RESEARCH

Market Research
y

y y y

The process of gathering a large amount of information about a specific market or geographic area Market Research data is usually available in the public domain Most Market Research data is secondary data Applications include Location studies for Malls, Hospitals and so on Typical data heads

Marketing Research
y y

All activities that provide information to guide marketing decisions Typically involves Primary Research as well as Secondary Research

Market Research

Population Trends Listing of Planned Public & Private Facilities Record of Upcoming Real Estate Schemes Traffic Counts Age & Income figures

Marketing Research

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August 22, 2011

Sameer Phanse Marketing & IT Consultant

WHY STUDY MARKETING RESEARCH?

Students preparing to manage a Marketing function, need y Proper training in the systematic analyses of Management Dilemma

Management Dilemma: The problem or opportunity that requires a conscious Marketing Decision

Significance & Need to study Marketing Research Applications y Increasing Influence of Stakeholders y Exploding Competitive vigor y Increasing complexity of Marketing Decisions y Marketing Disciplines increasing Sophistication y Advances in Research Methodologies, Collective Research experience & applications y Greater Computing Power, Data Quantum & speed y Exponential growth & power of the Internet
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August 22, 2011

Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH APPLICATIONS

Traditional Applications
NewNew-Product Research y Pricing Research y Distribution Research y Promotion Research
y

Contemporary Applications Emerging Applications

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August 22, 2011

Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH APPLICATIONS

Traditional Applications
NewNew-Product Research Concept Generation Product Evaluation & Development Test marketing y Pricing Research Skimming Pricing Research Penetration Pricing Research y Distribution Research Warehouse & Retail Location Problem The Number & Location of Sales Representatives Problem y Promotion Research
y
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August 22, 2011

Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH APPLICATIONS

y

Promotion Research
Advertising Research Purchase Behaviour Studies Tracking Studies Diagnostic Testing Copy Test Validity The Budget Decision Media Research Sales Promotion Research

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH APPLICATIONS

Contemporary Applications
Evaluating Competitive Advantage y Brand Equity Investigations y Customer Satisfaction Studies y Total Quality Management Studies
y

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH APPLICATIONS

Emerging Applications
y y y y

y y

Database Marketing Applications Customer Relationship Marketing Studies (CRM) Customer Experience Marketing (CEM) Applications Marketing Engineering* applications Marketing Decision Modeling using specialized software Marketing Simulation Studies OnOn-Line Marketing Research
tandem with traditional conceptual Marketing (Mental) Models

* The use of Decision models to formulate Marketing decisions in

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

MARKETING RESEARCH & ALLIED SYSTEMS

Mechanisms to capture Information for Marketing Decisions

Marketing Decision Support Systems MDSS  Numerous elements of

Transaction data  Various levels of aggregation & detail Designed & organized for consideration in Marketing decisions  Enabled by Intra & Extranets Scanner data Factory shipment data Syndicated aggregate Industry Data Services Sales force feedback Internal & Budget data

Marketing Intelligence Systems MkIS  Continuous gathering of Business Environmental Information Competitive Technological Economic Social Political Demographic Cultural Legal

Marketing Research

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Sameer Phanse Marketing & IT Consultant

August 22, 2011

THE MR STIMULI
The grounds for Marketing Research
MDSS MkIS
Management Dilemma

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Sameer Phanse Marketing & IT Consultant

August 22, 2011

BENEFITS OF MR

Benefits of MR
Reduced Uncertainty y Greater Possibility of a correct Decision y Improved Marketing Performance
y

Higher Profits

Competitive Edge

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

LIMITATIONS OF MR

Compromises in MR
y y

Time constraints

Balancing information comprehensiveness with need for swift decisions Conceptualization Execution Data Quality and Reliability Excellence and Reliability of data entail minimization of errors which demands commensurate resources Data and information domains are under strict Government regulations and need to be handled cautiously There are certain codes of conduct for MR that need to be followed for moral if not statutory reasons

Delayed Marketing Decisions

Research Costs

Legal Regulations

Ethical Conventions

Potential loss of Opportunity y Possibility of flawed decisions y Likelihood of exposure of ideas to the public domain
y
August 22, 2011

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Sameer Phanse Marketing & IT Consultant

EXERCISES

Individual Assignments (Submission on Paper)

What are Syndicated Marketing Research Services? Give examples in the Indian context y Why is Marketing Research called a process? process? y Read up on examples of Marketing Research in real life
y

Group Assignment (Brief Power Point Presentation)

y

How specifically can Marketing Research contribute value to the Marketing Planning Process?

Individual assignments to be submitted in Session 3 Some randomly selected Group(s) will be asked to present their assignment in Session 3

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August 22, 2011 Sameer Phanse Marketing & IT Consultant

THANK YOU!
END OF SESSION 1

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Sameer Phanse Marketing & IT Consultant

August 22, 2011