Marketing Research (Part II: Research: Types and Process) Dr. Devkant Kala

Transcription

1 Marketing Research (Part II: Research: Types and Process) Dr. Devkant Kala

2 Types of Research Exploratory Descriptive Causal

3 Exploratory Research A flexible and evolving approach to understand marketing phenomena that are inherently difficult to measure. The primary objective of exploratory research is to provide insights into and an understanding of marketing phenomena. Example- Discovery of America by Christopher Columbus.

4 Exploratory Research Does not provide conclusive evidence. Subsequent research expected. It is usually conducted when the researcher does not know much about the problems. Exploratory research is usually conducted at the outset of research projects.

5 Exploratory Research: Example The favorite crime investigation TV programs (Crime Patrol, Savdhaan India, etc) give a pretty good example. These shows typically start with a crime that needs to be investigated. The initial step is to look for hints which can help establish what has happened (exploratory). The clues found in the exploratory phase of the research usually point in the direction of a specific hypothesis or explanation of the events which happened, and investigators start focusing their efforts in this direction, performing interviews with witnesses and suspects (descriptive).

6 Descriptive Research Describes characteristics of a population, phenomenon, and market characteristics. Some understanding of the nature of the problem. Characterized by the prior formulation of specific research questions and hypotheses. Thus, the information needed is clearly defined.

7 Descriptive Research: Example Nokia, a mobile phone giant, once had a major portion of market share of mobile. But, gradually it started loosing its market share with its competitors Samsung etc. Nokia company wants to know the causes of its failure in the market. TATA before launching TATA Nano has done, a study to determining the market size of a new car called Nano.

8 Causal Research Causal research is used to obtain evidence of cause-and-effect (causal) relationships. Reliance before introducing Reliance Jio, did a research to see whether decrease in prices (call rates etc.) can lead to increase in sales as well as increase in market share. Casual dress and student satisfaction level.

9 Causal Research Kellogg wants to learn if they will receive more sales with their new cereal box design. Instead of conducting descriptive research by asking people whether they would be more likely to buy their cereal in its new box, they would set up an experiment in two separate stores. One will sell the cereal in only its original box and the other with the new box. Taking care to avoid any outside source of bias, they would then measure the difference between sales based on the cereal packaging. Did the new packaging have any effect on the cereal sales? What was Dr. Devkant that Kala, effect? UPES

10 Degree of Problem Definition Exploratory Research (Unaware of Problem) Our sales are declining and we don t know why. Would people be interested in our new product idea? Descriptive Research (Aware of Problem) What kind of people are buying our product? Who buys our competitor s product? What features do buyers prefer in our product? Causal Research (Problem Clearly Defined) Will buyers purchase more of our products in a new package? Which of two advertising campaigns is more effective?

11 Marketing Research Process Problem Discovery and Problem Definition Research Design Sampling Data Gathering Data Processing and Analysis Conclusions and Report

12 Thank You.