RM Session 1.ppt

Research MethodologyAn Overview..*Compiled by Dr Rajesh Devasia

Compiled by Dr Rajesh Devasia

Research Methodology (RM)

Research = Re + SearchResearch = Repeatedly InvestigateMethodology = Systematic way of doing thingsRM =Systematic way of Investigation

*Compiled by Dr Rajesh Devasia


Marketing Research (MR)Marketing Research is systematic way of colleting, analysing and interpreting data for marketing decisionsObjective of:a) Marketing To satisfy customers b) Marketing Research -To collect and analyse relevant data. It improves effectiveness of marketing



Applications of MRMR can be broadly classified into 2 broad areas viz: strategic & tacticalSnapshot of studies carried out in Indian Market:1)Consumer buying habits of detergents-frequency,pack,size,effect of promotions, brand loyalty and so on

2)To find out potential demand of ready to eat chapatis in Mumbai city.3)To find out the effectiveness of the advertising campaign for a 2-wheeler brand4)To determine the brand awareness and brand loyalty for branded laptopLenova



Applications

Product ResearchBranding ResearchMedia ResearchPricing ResearchPromotion Research*Compiled by Dr Rajesh Devasia


The Marketing ConceptProduct OrientedTechnical superiority of the productE.g. Fashion IndustryProduction OrientedEfficiency and effectiveness of production processE.g. US auto industryMarketing OrientedValue to customerE.g. well known hotel chains for business travelers



Research ProcessResearch process involves following steps: Define research problem Select of research design Select sample Collect data Analyze data Draw conclusions & submit findings, recommendations



Management Problem v/sResearch ProblemManagement Problems are SymptomaticResearch Problem is Why symptoms ?Example: Our sales are declining Employee attrition rate has increased. Increase in customer complaintsThese are symptoms.



Research ProblemManagement dilemma is symptoms while Researchers dilemma is Why symptoms and What is/are the possible solution/s ?Researcher searches (sources) for all possible causes, solutions and constraints. (Explorative research)Shortlist suggestionsGenerates additional data to validateRecommend solutions*Compiled by Dr Rajesh Devasia


Ready for an exercise?Management Problem: Sale is decliningInformation obtained: Market is decliningSuggestion offered :Increase dealer commission, Reduce PriceWhat should be the Research Question?



SolutionResearch Questions:Should we increase Dealer commission? If yes, by how much?Should we reduce price? If yes, by how much?Data required:Dealer commission given by competitors, Estimate of additional sale that would be given by dealers at different levels of commission, Prices of competing products, Customers intention to purchase product at different price levels



Continued..Management Problem: Sale is decliningInformation obtained: competitor is doing heavy promotion.Suggestion offered :Increase promotional expenditureWhat should be the Research Question?



SolutionResearch Questions:Should we increase promotionalexpenditure? If yes, by how much?Data required:Promotional spend of competitors, Reasons to select brand by customers, Perception of our brand vis--vis competitors brand*Compiled by Dr Rajesh Devasia


Scientific Method of Research*Compiled by Dr Rajesh Devasia


Research DesignsVarious methods to conduct research are called Research Designs

Three Research designs: Exploratory research designs Descriptive research designs Causal research designs



Exploratory ResearchConducted to clarify ambiguous situations or discover ideas that may be potential business opportunitiesCrystallize a situation that is not well understoodOften research starts with exploratory researchBased on secondary and/or primary sources, a survey of small no of knowledgeable persons, case studies etc



Descriptive ResearchDescribes the characteristics of objects, or environments, people, groups, organizations or environments.It describes a marketing phenomenon in terms of a set of specific variables.Describes the extent of association between two or more variables.Based on (i) secondary sources; (ii) case studies; (iii) large scale surveys, (iv) experiments and (v) simulation*Compiled by Dr Rajesh Devasia


Causal ResearchIt seeks to identify cause and effect relationship.3 conditions:(i) Temporal sequence(ii) Concomitant variation(iii) Non spurious associationBased on secondary sources, experiments (natural & controlled), simulation*Compiled by Dr Rajesh Devasia


Comparison

Exploratory Research Ambiguous Problem

Descriptive Research Partially defined problem

Causal Research Problem clearly defined*Compiled by Dr Rajesh Devasia


Four basic design techniquesSurveys

Experiments

Secondary data

Observation



Data Collection Methods: Exploratory ResearchSecondary DataFocus GroupDepth InterviewsObservationsProjective Techniques



Secret of Success is to know something nobody else knows.

. Aristole Onassis*Compiled by Dr Rajesh Devasia


Documents

RM Session 1.ppt