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Unit v marketing research

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Marketing research is the careful and objective study of product design, markets, and such transfer activities as physical distribution and warehousing, advertising and sales management. these slides will not only discuss marketing research but it will discuss MIS and Consumer behaviour

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Unit v marketing research

  1. 1. 1 •
  2. 2. 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 2
  3. 3. • • —The American Marketing Association 3
  4. 4. • • —Philip Kotler 4
  6. 6. 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 promotion 6
  7. 7. IMPORTANCE OF MARKETING RESEARCH TO ECONOMY Avoid crisis Reduce recession National Income DistributionEmploymentProduction 7
  8. 8. 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 8
  9. 9. FUNCTIONS OF MARKETING RESEARCH Evaluating Explaining Predicting Assisting 9
  10. 10. PROCESS OF MARKETING RESEARCH Identifying and defining research Extensive literature survey Formulation of hypothesis Preparing the research design Determining sample design Collecting the data Execution of the project Analysis of data Testing of hypothesis Generalization and interpretation Preparation of the report or the thesis 10
  11. 11. 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 trials 11
  14. 14. • • —Cundiff, still and Govoni 14
  15. 15. 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. 15
  16. 16. 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 16
  17. 17. SCOPE OF MIS 17
  18. 18. COMPONENT OF MIS 18
  19. 19. 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. 19
  20. 20. 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: 20 Unfocussed scanning Semi-focused scanning Informal search Formal search
  21. 21. 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 a specific marketing situation facing the company. • Marketing research is only a part of MIS, while MIS is an ongoing system • Thus, MIS is a wider concept than marketing research. 21
  22. 22. ANALYSIS AND PROCESSING OF INFORMATION • Within the MIS there has to be the means of interpreting information in order to give direction 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 the analytical sub-system of the MIS. A relatively modest investment in a desktop computer is enough to allow an enterprise to automate the analysis of its data. 22
  23. 23. LIMITATIONS OF MIS Not Preferred Depends on database Requires new set of skills Installing the software is expensive 23
  24. 24. • • —Belch and Belch 24
  25. 25. 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, and economics. • It attempts to understand the buyer decision making process, both individually and in groups. • The term consumer buying behaviour, end user behaviour and buyer behaviour all stands for the same. • Consumer behaviour may be defined as the decision process and physical activity individuals engage in when evaluating, acquiring, using, or disposing of goods and services. 25
  26. 26. 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 26
  28. 28. FACTORS INFLUENCING CONSUMER BEHAVIOUR Psychological factors Personal factors Social factors Cultural factors 28
  29. 29. CULTURAL FACTORS Culture Sub culture Social class 29
  30. 30. SOCIAL FACTORS Reference groups Family Roles and status 30
  31. 31. PERSONAL FACTORS Personality and self concept Life styleOccupation Age and life cycle stage 31
  32. 32. PSYCHOLOGICAL FACTORS Beliefs & Attitude LearningPerceptionMotivation 32
  33. 33. BUYING DECISION PROCESS Problem recognition Pre-Purchase information search Evaluation of Alternatives Purchase decision Post purchase behavior 33