pratik meshram -Unit 1 contemporary marketing research full notes pune university semister 3

Unit1I ntroduction to Marketing Research &

Applications of Research Designs

1.1. Marketing Research1.2. Marketing Research Designs1.3. Problem Formulation1.4. Marketing Research Techniques

Managers need information in order to introduce products and services that create value in the mind of the customer. But the perception of value is a subjective one, and what customer’s value this year may be quite different from what they value next year.

As such, the attributes that create value cannot simply be deduced from common knowledge.

Rather, data must be collected and analyzed. The goal of marketing research is to provide the facts and direction that managers need to make their more important marketing decisions.

To maximize the benefit of marketing research, those who use it need to understand the research process and its limitations.

Introduction

A company faces many marketing problems. It faces problems about consumers, product, market competition, sales promotion, etc. Marketing research helps to solve these problems. A) Meaning:Market research deals specifically with the gathering of information about a market's size and trends. Marketing research covers a wider range of activities. While it may involve market research, marketing research is a more general systematic process that can be applied to a variety of marketing problems.B) Definitions:

1) American Marketing Association:"Marketing Research is the systematic gathering, recording and analysing of data about problems relating to the marketing of goods and services."

2) Philip Kotler:"Marketing research is a systematic problem analysis, model building and fact finding for the purpose of improved decision-making and control in the marketing of goods and services."

1.1. Marketing Research:

C) Features of Marketing Research:The salient characteristics or features of marketing research are as follows:Comprehensive

ScopeSystematic and

Scientific

Science and Art

Collects and Analyzes Data

Continuous and Dynamic ProcessTool for

Decision-Making

Applied Research

Connected with MIS

Uses Different Methods

Few Limitations


C) Features of Marketing Research:1) Wide & Comprehensive Scope:

Marketing research has a very wide scope. It includes product research, packaging research, pricing research, market research, sales research, etc. It is used to solve marketing problems and to take marketing decisions.

2) Systematic and Scientific:Marketing research is conducted in a step-by-step manner. It is conducted in an orderly fashion. Therefore, it is systematic. Marketing research uses scientific methods. Thus, it is also scientific.

3) Science and Art:A Science collects knowledge (data) while an Art uses this knowledge for solving problems. Marketing research first collects data. It then uses this data for solving marketing problems.

4) Collects and Analyzes Data:Marketing research gathers data accurately and objectively. It first collects reliable data and then analyses it systematically and critically.


C) Features of Marketing Research:5) Continuous and Dynamic Process:

The company faces marketing problems throughout the year. So Marketing research is conducted continuously, It continuously collects up-to-date data for solving the marketing problems. Large companies have their own marketing research departments.

6) Tool for Decision-Making:The marketing manager has to take many decisions. For this, he requires a lot of data. Marketing research provides correct and up-to-date data to the marketing manager. This helps him to take quick and correct decisions.

7) Applied Research:Applied research is used for solving problems. Marketing research is used for solving marketing problems. Therefore Marketing research is also an applied research. It has practical value because it is used for solving present and future problems.


C) Features of Marketing Research:8) Connected with MIS:

Marketing research is a component of Marketing Information System (MIS). Marketing research and MIS are interrelated both are used to solve marketing problems and to take marketing decisions.

9) Uses Different Methods:Marketing research uses three methods for collecting data, viz., Survey Method, Experiment Method and Observation Method. All three methods are scientific. The researcher has to use a suitable method for collecting a reliable data.

10) Has Few Limitations: Marketing research has few limitations too. It is not an exact science. So, it does not give accurate results. It provides suggestions and not solutions. It is also a costly and time-consuming process.


D) Role of Marketing Research:

Roles

Description

Evaluation

Explanation

Prediction

Aid in Decision Making


D) Role of Marketing Research:1) Description:

Marketing research gives full description about the consumers. It describes their age, sex, education, income, etc. It also gives a description about the competitors and the market situation.

2) Evaluation: Marketing research helps to evaluate the company's performance. It helps to evaluate the company's production and marketing policies. It finds out the customer reaction to the quality of the product, price, packaging, advertising, sales, promotions techniques, etc.

3) Explanation:Marketing research gives explanations (answers) for althea marketing problems. For example, it answers in detail, why are the sales falling, why are the retailers giving negative reaction, etc.


D) Role of Marketing Research:4) Prediction:

Marketing research also gives predictions. Predictions mean to forecast or guess about the future. It gives a prediction about the future sales, future market opportunities, future risks, future marketing environment, future consumer behavior, etc.

5) Aid in Decision Making:Marketing research helps the marketing manager to take decisions. It provides all the concerned data, which is necessary to take decisions. Decision making means to select a course of action from two or more alternatives.


E) Importance of Marketing Research:

Provides Valuable Data

Studies Consumer Behaviour

Selects Promotional Techniques

Supplies Marketing

Information

Evaluates Marketing

Performance

Miscellaneous needs and

Importance


E) Importance of Marketing Research: 1) Provides Valuable Data:

Marketing research provides valuable data to the decision makers. It provides data about demand, supply, consumer behavior, competition, etc. This data issued for decision making. This data improves the quality of decisions. It makes the decision very successful.

2) Studies Consumer Behaviour:Marketing research provides data about consumer behavior. It provides data about age, incomes, likes, dislikes, etc. of the consumers. It also finds out the opinions of the consumers about a company's product. This data is used to make production and marketing policies.

3) Selects Promotional Techniques:Marketing research helps the company to select suitable sales promotion techniques. It helps to select marketing techniques. It helps to select proper media for advertising. It helps to solve the problems of after-sales service. It also helps to prepare the budget for advertising and sales promotion.


E) Importance of Marketing Research: 4) Supplies Marketing Information:

Marketing research supplies data about the market situation. This market-related data is used to find out:a) The present and future demand and supply position.b) The level of competition and steps taken to control it.c) Market opportunities.d) The cause of fall in sales level.

5) Evaluates Marketing Performance:Marketing research helps the company to evaluate its marketing performance and to take steps to improve it. Marketing research is used to find out the effect of price, package, brand name, etc.

6) Miscellaneous needs and Importance:Miscellaneous needs and importance of marketing research are as follows: Marketing research improves the efficiency of the marketing department. This creates goodwill and good reputation.


F) Limitations of Marketing Research:Limited

use

Superficial

Understanding Gap

Marketing Research is not a Science

Misuse of Marketing Research

Lack of Clear View Point

Delayed Decision

tool for Grabing Power


F) Limitations of Marketing Research:1) Limited use:

Many times, marketing research tends to be fragmentary in its approach as a result of which it becomes difficult to haven overall perspective in which at marketing problem is to be viewed and studied.

2) Superficial:Marketing research is criticized on the ground that it becomes too superficial and faulty in industry while the principles of marketing research are good and based on scientific lines, in industry, marketing research is very often used by those who have had no formal training in the subject.

3) Understanding Gap:There is an absence of meaningful dialogue between the marketing management and the marketing research team. With the result, marketing researchers get divorced from the main stream of marketing.

4) Marketing Research is not a Science:Marketing research is not an exact science. There are several imponderables which come in the way of getting accurate results.


F) Limitations of Marketing Research:5) Misuse of Marketing Research is also associated with Down Face:

Apart from these limitations of marketing research, one finds that it is sometimes misused. These mis- applications, strictly speaking are not the limitations of the subject as such.

6) Lack of Clear View Point:A major of marketing research is found when one uses it to support or substantiate his viewpoint or position. In such as case, objectivity, which is the soul of research, is non-existent.

7) Delayed Decision:Another misuse of marketing research is found deliberately delaying decision-making. In the hands of vested interests, it may be used to avoid taking a certain decisions or delaying it until the findings of marketing research are available.

8) As a tool for Grabing Power:Finally, it is used to grab power and authority in an organization. Executives who are ever ambitious may use marketing research to consolidate and strengthen their position in the organization as also to extend their authority over their colleagues.


G) Role of Information in Marketing Research:

Roles


G) Role of Information in Marketing Research:1) Relevant:

This is the most important characteristic. It means that the information has relevance to the subject of enquiry.

2) Available:When a decision is being made, information must be available.

3) Accurate:The information, which is going to be used for decision-making, must be accurate. Obviously, the use of wrong information will lead to a wrong decision.

4) Current:Information must be current. This implies that it is not an obsolete one and is applicable to the time period of the study.

5) Adequate:In addition to the foregoing four characteristics, information must be adequate. Scanty or piece-meal information will not serve the purpose. It may be mentioned that the available information may not have all the characteristics.


H) Marketing Research Process:


H) Marketing Research Process:1) Formulate Problem:

One of the more valuable roles marketing research can play is helping to define the problem to be solved. Only when the problem is carefully and precisely defined, can research be designed to provide pertinent information.

2) Determine Research Design:The sources of information for study and the research design go hand in hand. They both depend on how much is known about the problem. lf relatively little is known about the phenomenon to be investigated.

3) Design Data Collection Method and Forms:It begins by determining if the information needed is already available as secondary data, either within the firm or from and outside source. If not, information will have to be generated by means of a survey or an experiment.

4) Design Sample and Collect Data:In designing the sample, the researcher must specify, among other things, (i) the sampling frame, (ii)the sample selection process, and (iii) the size of the sample.


H) Marketing Research Process:4) Analyze and Interpret Data:

Researchers may amass a mountain of data, but these are useless unless the findings are analyzed and the results interpreted in the light of the problem at hand. Data analysis generally involves several steps.

5) Prepare the Research Report:The research report is the document submitted to management that summarizes the research results and conclusions. It is all that many executives will see of the research effort, and it becomes the standard by which that research misjudged.


A) Meaning:A marketing research design may be described as a series of advance decisions that, when taken together, comprises a master plan or model for the conduct of the investigations. It is the blueprint that is followed in completing a study.

B) Features of Good Research Design:

1.2.Marketing Research Designs

Theory base

Situational

FeasibleRedundant

Efficient

B) Features of Good Research Design:1) Situational:

Good research designs reflect the settings of the investigation. This was illustrated above where a particular need of teachers and administrators was explicitly addressed in the design strategy.

2) Feasible: Good designs can be implemented. The sequence and timing of events are carefully thought out. Potential problems in measurement, adherence to assignment, database construction and the like, are anticipated.

3) Theory base:Good research strategies reflect the theories which are being investigated. Where specific theoretical expectations can be hypothesized these are incorporated into the design.

4) Redundant: Good research designs have some flexibility built into them. Often, this flexibility results from duplication of essential design features.


B) Features of Good Research Design:5) Efficient:

Good designs strike a balance between redundancy and the tendency to overdesign. Where it is reasonable, other, less costly, strategies for ruling out potential threats to validity are utilized.

C) Types of Research Designs:


Types of Research Designs

Exploratory Research Designs

Descriptive Research Designs

Causal Research Designs

C) Types of Research Designs:1) Exploratory Research Designs:

Exploratory Research is used when one is seeking insights into the general nature of a problem, the possible decision alternatives and relevant variable that need to be considered. Typically, there is little prior knowledge on which to build the research methods which are highly flexible, unstructured and qualitative.

2) Descriptive Research Designs:Descriptive Research embraces a large of marketing research. The purpose is to provide an accurate picture of some aspects of marketing environment. In descriptive research, hypotheses often will exist, but they may be tentative and speculative.

3) Causal Research Designs:When it is necessary to show that one variable causes or determines the values of other variables, a causal research approach must be used. Evidence of a relationship or an association among the variables is useful; otherwise, we would have no basis for even inferring that causality might be present.


D) Validity and Reliability in Research Study:

1) Research Validity:This problem with data gathering represents several concepts that to the non-researcher may be quite complex. But basically validity boils down to whether the research is really measuring what it claims to be measuring.

2 ) Research Reliability:Reliability is chiefly concerned with making sure the method of data gathering leads to consistent results. For some types of research this can be measured by having different researchers follow the same methods to see if results can be duplicated. If results are similar then it is likely the method of data gathering is reliable.


Research ValidityResearch Reliability

The first step in research is formulating a research problem. It is most important stage in applied research as poorly defined problems will not yield useful results. It is rightly said that "a problem well-defined is half-solved". Poorly defined problems cause confusion and do not allow the researcher to develop a good research design.

A) problem definition:A complete problem definition must specify each of the following:

1.3. Formulation of Problem

Unit of Analysis Time and Space Boundaries

Characteristics of Interest Environmental Conditions

A) problem definition:1) Unit of Analysis:

The individuals or objects whose characteristics arc to be measured arc called the units of analysis. The units always identify the objects to be studied. It is necessary that the universe is well defined. Consider, for example the statement-"Women’s dress buyers in Delhi stores on January 30 1990".

2) Time and Space Boundaries:As regards time and space boundaries we find that the two universes are again different. In the first instance a precise date viz. 30th January, 1990 is given while in the second instance the entire month of January is given.

3) Characteristics of Interest:This aspect identifies the focus of the problem. In our earlier example the characteristics of interest can be style and color preferences, buying behaviour personality traits, etc. Again the researcher may be interested in only one characteristic.


A) problem definition:4) Environmental Conditions:

This aspect indicates the uniqueness or generality of the problem. For example if the management is interested in knowing how the units respond to price changes, then the problem definition should specify the prices to be researched.

5) Hypothesis Development:Before passing on to the next stage it is worthwhile to briefly mention the development of hypotheses. A hypothesis is a proposition which the researcher wants to verify. Often there may be several competing hypotheses, either specified or implied.


B) Components of Problem Formulation:


The Decision-Maker and Objectives

Environment of the Problem

Alternative Courses of

Action

Consequences of Alternative

Courses of Action

State of doubt

B) Components of Problem Formulation:1) The Decision-Maker and Objectives:

The decision-maker may not always be represented by a single individual; marketing decisions may beamed by a marketing group of two or more people. Moreover, some members of the group may not agree with the choice made because of differences either in objectives or in their appraisal of effectiveness of means chosen to achieve the objectives.

2) Environment of the Problem :Every problem exists within a context of characteristics of the company and of the market-consumer tastes and preferences, level of income and the rate of growth in the market areas, the degree of competition and competitor action and reaction and the type and extent of governmental regulation.

3) Alternative Courses of Action:A course of action is a specification of some behavioral sequence, such as the construction of a new warehouse the adoption of a new package design the introduction of a new product.


B) Components of Problem Formulation:4) The Consequences of Alternative Courses of Action :

The world of uncertainty is a common world for the marketer. When choosing a course of action, a marketer can rarely be certain of the consequences, since the choice is usually based on incomplete information about the various factors that influence the decision’s outcomes.

5) State of doubt:To solve a problem is to select the best course of action for attaining the decision-makers objectives. A state of doubt as to which course of action is best can arise under three main classes of conditions:a) Certainty’ with respect to each course of action leading to a specific outcome. b) Risk with respect to each action leading to a set of possible outcomes, each

outcome occurring with a ‘known' probability.c) Uncertainty’ with respect to outcomes given a particular course of action.


C) Translating Decision Problems to Research Problems:

1) Genesis of Problem:After the problem has been chosen, the next task is to formulate imprecisely. Genesis implies a clear statement or definition of the problem. A complete problem definition must specify each of the following:a) Bunch of Study:

It includes the individuals or the objects whose characteristics are to be measured. Time and space boundaries these two universes define the suitable time reference and the vocational reference for the decision.


Genesis of Problem Research Problem Statement

C) Translating Decision Problems to Research Problems:b) Characteristics of Interest:

This aspect identifies the locus of the problem, both the ‘results' that are of concern to the management and the variables that are to be tested for their relationship to the results is included.

c) Specific Environmental Conditions:This aspect indicates the uniqueness or generality of the problem. The problem definition must specify the environment of which the organization wants research results.

2) Research Problem Statement:Once the problem has been identified and formulated by the researcher, there are several mechanisms available for ensuring that the true decision problem will be addressed by the research process. a) Action:

The actions that are contemplated on the basis of the research.


C) Translating Decision Problems to Research Problems:2) Research Problem Statement:

b) Origin:The events that led to a need for the decision to act.

c) Information:The questions that the decision maker needs to have answered in order to take one of the contemplated courses of action.

d) Use:A section that explains how each piece of information will be used to make the action decision.

e) Targets and subgroups:Targets and subgroups is section that describes from whom the information must be gathered.

f) Logistics: A section that gives approximate estimates of the time and money that are available to conduct the research.


D) Marketing Research Proposal:A research proposal is a document written by a researcher that provides a detailed description of the proposed program.

a) Preparing a Marketing Research Proposal:Marketing research is vital in all businesses and it is important that a proposal is written before any formal research activity takes place.


Preparing a Marketing Research Proposal

Evaluating a Market Research Proposal

D) Marketing Research Proposal:a) Preparing a Marketing Research Proposal:

Below are 10 key points to consider when structuring a marketing proposal.


Preparing a

Marketing Research Proposal

Title and Keywords Aims and

Objectives

Background

Analysis

Research Hypothesi

s

Data Collection

Research Methodolo

gy

Schedule of Activity

Code of Conduct

Research Limitation

s

Outcomes

D) Marketing Research Proposal:a) Preparing a Marketing Research Proposal:1) Title and Keywords:The title of the proposed investigation should be clear, precise and accurate. A short

main title outlining the area of the research may be followed by a secondary part of the title that includes more specific information.

2) Aims and Objectives:The primary aim of the proposal is to identify the purpose of the research and the

research questions/issues it attempts to address. One should provide a sequence of statements (normally between two and five) that gives an overview of what the research is trying to achieve.

3) Background Analysis:This section needs to justify the proposal with a brief account of the practical issues the

research will address. It should attempt to demonstrate the importance of the proposed investigation in relation to specific problems, contexts etc.


D) Marketing Research Proposal:a) Preparing a Marketing Research Proposal:4) Research Hypothesis:This part should specify the exact questions to be investigated. This needs to be precise

and should take the form of hypotheses or statements. It should specify what indicators will be measured in order to address the broad issues identified within the aims and background sections.

5) Data Collection:The data collection methods must be described succinctly. They should include a

description of the data collection process and the strategy to be adopted (survey method or case study).

6 ) Research Methodology:The research methodology section should explain the key reasons for choosing the

proposed methods. The research strategy and data collection methods should be discussed and evaluated, in terms of their suitability and their implications for the quality of the data to be collected.


D) Marketing Research Proposal:a) Preparing a Marketing Research Proposal:7 ) Schedule of Activity:This is an important section as the proposed research should be conducted within time

and budgetary limits. The feasibility of the proposed research should be considered in relation to the availability of resources.

8) Code of Conduct:This section will articulate the way the researcher will comply with the spirit and

practice of research ethics and will conduct their activities within the political/legal context within which the research will be conducted.

9) Research Limitations:The researcher needs to acknowledge any limitations that may be inherent in the

research design and to the extent it may affect the accuracy of the research findings. 10) Outcomes:The end-products likely to be produced as a result of the research activity are described

in this section. The outcomes are not similar to findings.


D) Marketing Research Proposal:b) Evaluating a Market Research Proposal:Management can use certain tools to evaluate and control research projects. They are

briefly described below:


Evaluating a Market

Research Proposal

Evaluating Market

Research Proposal

Check List

Flow Chart

Gantt Chart

PERT Technique

Advisory Committee

Marketing Research

Audit

D) Marketing Research Proposal:b) Evaluating a Market Research Proposal:1) Check List:To begin with, a check list, which is a versatile and a useful tool can be used. It can be

short or long, consisting of at few or many questions depending on the actual requirement of management.

2) Flow Chart:Another tool is the logical flow chart which indicates the sequence of st research

project covering various activities. For example, library research, collection of data. analysis of data, and so on.

3) Gantt Chart:A Gantt chart is used in order to provide a time dimension for controlling marketing

research. Such chart enables the management to develop an overall research schedule by allocating a time period to each component of research.


D) Marketing Research Proposal:b) Evaluating a Market Research Proposal:4) PERT Technique:Finally, the Programmed Evaluation and Review Technique (can be used. Although P E

R T has-been used in administrative and production problems, hardly any application in marketing research is available.

5) Advisory Committee:As regards control of the total research activity, it is necessary to set up meaningful

control procedures. An advisory committee, comprising representatives from all functions served by marketing researches probably the most effective way of evaluating and controlling the total marketing research activity.

6) Marketing Research Audit:Another method is the marketing research audit Several years ago, Session proposed

the need for such an audit. In order to make marketing audit effective, it must be undertaken as the joint responsibility of the research group and of all departments having a direct interest in the use of marketing research.


In the present day complex business environment market research have several applications which have developed specific approach with special features. Marketing research provides adequate information to the line management. In the days of specialization, various techniques of marketing research are adopted. Each type of research is tailored to the individual needs of the management.

A) Formulating Hypothesis Using Exploratory Research Techniques:The exploratory study may be used to clarify concepts and the causes of problems. It generates information about the practical possibilities of research. It is used to increase the analyst’s familiarity with the problem.

1.4. Marketing Research Techniques

Literature Survey

Analysis of Case Studies

Experience Survey

A) Formulating Hypothesis Using Exploratory Research Techniques:1) Literature Survey:The quickest and most economical way is to find possible hypotheses from the

available literature. The past researches may be suitable sources of information to develop new hypotheses. The findings of marketing research are generally published in trade and professional journals which can be fruitful sources of information.

2) Analysis of Case Studies:A detailed case analysis of selected organisations of individuals may be helpful in

gaining information and new ideas about the marketing mix. It involves the intensive study of selected cases of the phenomenon.

3) Experience Survey:Experience survey indicates the use of reservoir of knowledge and experience

possessed by those familiar with the specific subject to be investigated. All persons who have information of market-variables are potential sources of information.


B) Qualitative Research:Qualitative Research is about investigating the features of a market through in-depth research that explores the background and context for decision making. There are two main qualitative methods - depth interviews and focus groups. a) Meaning:Q ualitative market research means "quality." Conversely, and importantly, it does not

mean "quantity." Qualitative research methods are designed to talk to a relatively few people in the target audience of interest.

b) Applications of Qualitative Research Techniques in Marketing:


Depth Interviews Focus Groups

B) Q ualitative Research:b) Applications of Qualitative Research Techniques in Marketing:1) Depth Interviews:Depth interviews are the main form of qualitative research in most business markets.

Here an interviewer spends time in a one-on-one interview finding out about the customer's particular circumstances and their individual opinions.

2) Focus Groups:Focus groups are the mainstay of consumer research. H ere several customers are

brought together to take part in a discussion led by a researcher (or "moderator"). These groups are a good way of exploring a topic in some depth or to encourage creative ideas from participants.


C) Longitudinal Studies:Longitudinal studies are also known as time-series studies and involve a repetitive measurement of the same sample of elements over time. a) Meaning:Longitudinal studies repeatedly measure the same sample units of a population over a

period of time. Because longitudinal studies involve multiple measurements, they are often described as "movies" of the population.

b) Applications of Longitudinal Studies in Marketing:


Consumer Panels

Retail Shop Audit

Media Audience Tracking

C) Longitudinal Studies:b) Applications of Longitudinal Studies in Marketing:1) Consumer Panels:A longitudinal study that gathers data from the same sample of individuals or

households over time is called a consumer panel. Consumer panel method gives reliable information for policy decisions on marketing.

Types of Consumer Panels:


Purchase Panel Audience Panel

Attitude Panel Dealer Panel

C) Longitudinal Studies:b) Applications of Longitudinal Studies in Marketing:1) Consumer Panels:

Types of Consumer Panels:(a) Purchase Panel:

Purchase panel is useful to study the purchasing habits and trends of consumers. Such panel is a group of selected consumers who are asked to record purchases made by them regularly in the diaries provided to them. Information is collected from the panel members continuously for detailed analysis.

(b) Audience Panel:Audience panels are panels designed to provide information regarding media

audiences. Audience panels are of listeners / viewers of programmes on radio and TV. The panel members are asked to listen the programmes on TV and radio regularly.

c) Attitude Panel:Attitude panel is useful for the study of attitude of consumers towards a product/

marketing practice. Attitudes are usually studied along with the purchase behaviour of consumers.


C) Longitudinal Studies:b) Applications of Longitudinal Studies in Marketing:1) Consumer Panels:

Types of Consumer Panels:(d) Dealer Panel:

Dealer panels are useful for collecting information from the dealers in a continuous manner. They give data on dealer activities including total sales, prices charged, promotional efforts made, services offered and so on.

(e) Product Testing Panel:Product testing panel is useful for testing the utility and other features of the product

before bringing it in the market for Large scale marketing. The panel includes consumers from cross section of the society.

(f) Retail Panel/Retail Audit:Retail audit panel is a panel of retail traders who are willing to give information about

their stocks at regular intervals purely for research purpose. Panel members are required to note information about the sales and stock position and provide the record for study purpose.


C) Longitudinal Studies:b) Applications of Longitudinal Studies in Marketing:2) Retail Shop Audit:Retail Shop audit is a technique in which marketing information is collected directly

from large number of wide ranged retail shops which sell the products directly to consumers. Each retail shop has comparatively limited number of customers and it is in a position to supply precise information about its customers and their features for research purpose. Shop audit (also called marketing audit) consists of approaching the retail shops for collecting facts and required information about, purchases by consumers.

3) Media Audience Tracking:When mass media consisted of print communication, audience measurement was

relatively straightforward. Subscription rates provided a base from which to build readership profiles for newspapers and magazines, and as long as the data supplied by publishers could be verified by an external audit, advertisers could rely on its credibility.


C) Longitudinal Studies:b) Applications of Longitudinal Studies in Marketing:3) Media Audience Tracking:(a) TRP:

Target Rating Points (TRPs) are the gross rating points delivered by a media vehicle to a specific target audience. The purpose of the 'target rating point' metric is to measure impressions in relation to the number of people in a specific target audience for an advertisement.

(b) Brand Tracking Studies:Brand tracking studies allow marketers to monitor the health of the brand and

provide insights into the effectiveness of marketing programs implemented by the company. Each brand faces different issues, which often required customized tracking surveys. Following are some of the ways a brand tracking study is conducted.


C) Longitudinal Studies:b) Applications of Longitudinal Studies in Marketing:3) Media Audience Tracking:(b) Brand Tracking Studies:

Following are some of the ways a brand tracking study is conducted.


Awareness

Usage

Brand Attitudes

and Perceptio

ns

C) Longitudinal Studies:b) Applications of Longitudinal Studies in Marketing:3) Media Audience Tracking:(b) Brand Tracking Studies:

i) Awareness:A brand that first comes to mind in certain situations is more likely to be considered

than one that is only recognized when it is prompted to the consumer.ii) Usage:

These brand tracking measures, not only tell us about consumer shopping behavior and preferences, but also are indicators of market share and "share of wallet, "which is the amount of consumer spending a brand is capturing and has a direct impact on company's revenues and profits.

iii) Brand Attitudes and Perceptions:This is usually captured through questions related to brand image and associations

that consumers develop as they experience the brand and are exposed to its positioning message through PR, advertising and promotional programs.


Education

pratik meshram -Unit 1 contemporary marketing research full notes pune university semister 3