Marketing Research System n Marketing research as the

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Marketing Research System n Marketing research as the systematic design, collection, analysis and reporting

Marketing Research System n Marketing research as the systematic design, collection, analysis and reporting of data and findings relevant to a specific situation facing the company.

Marketing research process 1. 2. 3. 4. 5. 6. Define problem and research objective

Marketing research process 1. 2. 3. 4. 5. 6. Define problem and research objective Develop the research plan Collect the information Analyze the information Present the findings Make the decisions

Defining problem and research objectives n n Never define the problem too broadly or

Defining problem and research objectives n n Never define the problem too broadly or too narrowly “Find out anything which can be done to increase the sale of Borekill” - too broad - will collect a lot of un-necessary information - high cost of conducting market research

Defining problem and research objectives n “Find out if enough farmers would be willing

Defining problem and research objectives n “Find out if enough farmers would be willing to pay higher price for Borekill so that the company would recover the cost of promotional programs” - too narrow view of the problem - inconsistent with decision making

Defining problem and research objectives n To design the research problem and objectives -

Defining problem and research objectives n To design the research problem and objectives - “management should first spell out the decisions it might make” and then work backward

Defining problem and research objectives n n n Promotional programs are effective in influencing

Defining problem and research objectives n n n Promotional programs are effective in influencing the buying decisions of the farmers Farmers are not brand loyal Different promotional strategies are required for different categories of farmers - based on size of holding - based on their awareness about the product

Defining problem and research objectives n n n Farmers are not price responsive/conscious in

Defining problem and research objectives n n n Farmers are not price responsive/conscious in making their decision about the pesticide to use for tur crop It is not economical to use pesticide in a crop like tur What should be the desired promotional strategy for different categories of farmers?

Developing the research plan n Develop the most effective research plan for gathering the

Developing the research plan n Develop the most effective research plan for gathering the needed information Cost of the research plan versus the benefits out of findings of the research One must identify the components of research plan

Research plan n Decision on - data sources - research approaches - research instrument

Research plan n Decision on - data sources - research approaches - research instrument - sampling plan

Data sources n n Secondary and Primary data Start investigation by examining the secondary

Data sources n n Secondary and Primary data Start investigation by examining the secondary data first. Identify the gaps Collect primary data

Research Instruments n n n Focus group discussion Sample survey Experiment research Sampling unit

Research Instruments n n n Focus group discussion Sample survey Experiment research Sampling unit Sample size Sampling technique (simple random, stratified, cluster, judgment, quota, convenience)

Research Instruments n Questionnaire - close end - open end “What is your opinion

Research Instruments n Questionnaire - close end - open end “What is your opinion about Borekill? ” “What is the first word comes to your mind when you hear the followings: (a) pesticide (b) Podborer (c) Tur

Research Instruments n n “When I choose a pesticide, the most important consideration in

Research Instruments n n “When I choose a pesticide, the most important consideration in my decision is ------” Picture presentation