Marketing Research Process: Key Insights & Brand Preferences
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1) The document outlines the marketing research process, including establishing the need for research, defining the problem, establishing research objectives and hypotheses, determining research design and data sources, collecting and analyzing data, and presenting findings. 2) It then provides an example of a marketing research study conducted on the aftershave lotion market in India, including research objectives, design, data collection methods, findings, and conclusions. 3) Key findings included Old Spice being the most popular brand with 28% top of mind awareness, factors influencing brand choice and consistency, and need for Indian brands to improve quality and image.
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Marketing Research Process: Key Insights & Brand Preferences
- 11. Example: Research Question, Research Objectives, and Research Hypotheses Research Question : What should be the retail price for product X? What type of cosmetics do men use to look handsome? Why Amity’s cafeteria is criticized so badly? Research Objectives : Forecast sales for product X at three different prices. To determine the competition & mkt share Determine factors affecting the earnings of cafeteria at Amity Hypotheses : Sales will be higher at Rs 4.99 than at Rs 5 or at Rs 7 H1: Fair & Lovely Menz Active by HUL H2: Fair And Handsome by Emami Ltd H1: Long queues . Highly unorganized H2: Food tastes bad & unheathy
- 14. Contd… The degree of uncertainty of the research problem determines the research methodology
- 20. A CASE ANALYSIS
- 35. TOP OF MIND 28% 8% 8% 8% 8% 8% 16% 12%
- 36. SECOND LEVEL 16% 10% 10% 20% 16% 16% 6% 6%
- 38. Present, Previous and Future Brands
- 39. (d) REASONS FOR CHANGE OF BRAND
- 40. (e) REASONS FOR BRAND CONSISTENCY
- 41. (f) WHY USE AFTER SHAVE?
- 42. (g) WHEN USE ASL?
- 46. THANK YOU
Editor's Notes
- Eg: A hypothesis could speculate that sales are down in the Northeast because the level of competition has been abnormally high during the past two months. Such a hypothesis provides considerable detail to a research question that asks what the problem is in Northeast.
- 2 min
- The most common research instrument is the questionnaire Close-end questions - Respondents choose from possible answers included on the questionnaire. Types of close-end questions include: Multiple choice questions which offer respondents the ability to answer “yes” or “no” or choose from a list of several answer choices. Scales refer to questions that ask respondents to rank their answers or measure their answer at a particular point on a scale. For example, a respondent may have the choice to rank their feelings towards a particular statement. The scale may range from “Strongly Disagree”, “Disagree” and “Indifferent” to “Agree” and “Strongly Agree.” Open-end questions - Respondents answer questions in their own words. Completely unstructured questions allow respondents to answer any way they choose
- Data analysis involves entering data into computer files, inspecting data for errors, and running tabulations and various statistical tests. Data cleaning is a process by which raw data are checked to verify that the data have been correctly inputted from the data collection form to the computer software program. The last step is one of the most important phases of marketing research. Its importance cannot be overstated because it is the report, or its presentation, that properly communicates the results to the client.