This is the ppt of 1st unit of Market research subject in 2nd semister of management or mba degree it follows the syallabus of Savitribai phule Pune University and it helpful to make notes of marketing and also buisness research methods and marketing research subject

1. INTRODUCTION TO
MARKETING RESEARCH
Dr Amitabh Patnaik

2. SCOPE OF MARKETING
RESEARCH
1.Product Research: It involves studying the product's features, design,
packaging, and labeling to understand customer preferences and improve the
product's overall quality.
2.Pricing Research: It involves analyzing customer perceptions of product
pricing to determine the most profitable price points.
3.Promotion Research: It involves studying the effectiveness of advertising
and promotional campaigns to determine the best ways to reach and influence
potential customers.
4.Distribution Research: It involves analyzing distribution channels to
determine the most effective ways to get products to market.

3. SCOPE OF MARKETING
RESEARCH
5. Customer Satisfaction Research: It involves measuring customer
satisfaction levels with a product or service to identify areas for improvement.
6. Branding Research: It involves studying brand perception and loyalty to
determine the best ways to position a brand in the market.
7. Market Segmentation Research: It involves dividing a market into
subgroups based on common characteristics and analyzing their behaviors and
preferences.
8. Competitor Analysis: It involves analyzing the strengths and weaknesses
of competitors in the market to identify potential opportunities and threats.

4. LIMITATIONS OF MARKETING
RESEARCH
1.Time Constraints: Conducting marketing research takes time, and it may
not be possible to wait for the results before making important business
decisions.
2.Cost: Marketing research can be expensive, especially if a large sample size
is required or if the research involves multiple methods.
3.Sample Bias: The results of marketing research may not be representative of
the broader population if the sample is biased or unrepresentative.
4.Inaccurate Data: Marketing research may produce inaccurate data if
respondents are not truthful, if they misunderstand the questions, or if they
are biased.

5. LIMITATIONS OF MARKETING
RESEARCH
5.Limited Insight: Marketing research can only provide insight into the
questions that are asked. It may not be able to uncover unexpected insights or
hidden trends.
6. Limited Scope: Marketing research may only provide insight into a
particular market or product, and it may not be useful for making broader
strategic decisions.
7. Ethical Issues: Marketing research may raise ethical concerns if it involves
manipulation or deception of respondents, invasion of privacy, or other
unethical practices

6. ROLE OF INFORMATION IN
MARKETING DECISIONS
1.Identifying Opportunities: Information can help identify opportunities for
new products, services, or markets. By analyzing customer needs and
preferences, businesses can identify gaps in the market and develop new
offerings to meet those needs.
2.Developing Marketing Strategies: Information can help develop effective
marketing strategies that are tailored to the target audience. By understanding
the target market's behavior, preferences, and buying patterns, businesses can
develop marketing campaigns that are more likely to resonate with their
customers.
3.Pricing: Information can help determine the optimal price point for a
product or service. By analyzing consumer behavior and market trends,
businesses can set prices that are competitive and aligned with customer
perceptions of value.

7. ROLE OF INFORMATION IN
MARKETING DECISIONS
4. Product Development: Information can inform product development decisions by
providing insights into customer needs, preferences, and pain points. By conducting
research and analyzing customer feedback, businesses can identify areas for
improvement and develop products that better meet customer needs.
5. Market Segmentation: Information can help segment the market into subgroups
based on common characteristics, such as demographics, psychographics, or
behavior. By understanding these subgroups' unique needs and preferences,
businesses can tailor their marketing efforts to better meet their specific needs.
6. Tracking Performance: Information can help track the performance of marketing
efforts by providing data on key metrics such as sales, customer engagement, and
ROI. By regularly analyzing this information, businesses can adjust their marketing
strategies to optimize performance and achieve their goals.

8. VALUE OF INFORMATION
1.Reducing Risk: Information can help reduce the risks associated with
business decisions. By providing data and insights, businesses can make more
informed decisions and avoid costly mistakes.
2.Improving Efficiency: Information can improve the efficiency of business
operations. By providing data on key metrics such as sales, customer
engagement, and ROI, businesses can identify areas for improvement and
optimize their processes to reduce waste and increase efficiency.
3.Identifying Opportunities: Information can help businesses identify new
opportunities for growth and expansion. By analyzing customer behavior and
market trends, businesses can identify gaps in the market and develop new
products or services to meet those needs.

9. VALUE OF INFORMATION
4.Enhancing Customer Relationships: Information can help businesses better
understand their customers' needs and preferences. By using this information to tailor
their offerings and communication strategies, businesses can build stronger
relationships with their customers and improve customer loyalty.
5. Improving Competitiveness: Information can provide a competitive advantage by
providing insights into competitors' strengths and weaknesses. By understanding the
competitive landscape, businesses can develop strategies to differentiate themselves
and gain an edge in the market.
6. Enabling Innovation: Information can inspire innovation by providing insights
into emerging trends and technologies. By staying up-to-date with the latest
developments in their industry, businesses can identify new opportunities for
innovation and stay ahead of the curve.

10. COST OF INFORMATION
1.Research Costs: Conducting research to gather information can be
expensive. This may include costs associated with survey design, data
collection, and data analysis.
2.Data Management Costs: Storing and managing large amounts of data can
be costly, especially if specialized software or hardware is required.
3.Opportunity Costs: The time and resources spent gathering and analyzing
information could be spent on other business activities, such as product
development, marketing campaigns, or customer service.

11. COST OF INFORMATION
4. Accuracy Costs: Ensuring the accuracy of information can be time-
consuming and costly. This may involve verifying the data, removing
duplicates, and correcting errors.
5. Privacy and Security Costs: Protecting sensitive information can be costly.
This may include investing in secure data storage, implementing access
controls, and training employees on data security protocols.
6. Complexity Costs: Analyzing large amounts of data can be complex and
require specialized skills. This may require hiring data analysts or investing in
training programs to develop these skills internally.

12. MARKETING DECISION
SUPPORT SYSTEM
A Marketing Decision Support System (MDSS) is a tool that assists
marketing managers in making informed decisions by providing access
to relevant and timely information. It is a computer-based system that
integrates data from various sources, such as internal databases, market
research, and external data sources, to support marketing decision-
making.

13. KEY COMPONENTS OF AN
MDSS
1.Data Warehousing: A data warehouse is a centralized repository of data
that is extracted from various sources and organized for analysis. It provides a
single source of truth for marketing data, making it easier to analyze and
report on.
2.Data Analysis Tools: These tools allow marketing managers to analyze the
data in the data warehouse and generate reports, visualizations, and
dashboards to support decision-making.
3.Marketing Models: Marketing models are analytical tools that help
managers to understand the relationships between various marketing
variables, such as customer behavior, pricing, and product attributes. These
models can be used to forecast sales, simulate scenarios, and evaluate the
impact of marketing decisions.

14. KEY COMPONENTS OF AN
MDSS
4.Scenario Analysis: MDSS allows marketers to perform what-if analysis to
evaluate the impact of different marketing scenarios on sales and profitability.
This can help managers to make more informed decisions and develop
contingency plans.
5. Communication Tools: MDSS provides tools for sharing information and
collaborating with other stakeholders, such as sales teams, marketing agencies,
and executive management. These tools can include email, chat, video
conferencing, and collaborative workspaces.

15. ORGANIZING MARKETING
RESEARCH FUNCTION
1.Establish Objectives: The first step in organizing the marketing research function is to
establish clear objectives. This includes defining the research questions, identifying the
target audience, and determining the research methodology.
2.Define Roles and Responsibilities: Once the objectives are established, it is important
to define the roles and responsibilities of the marketing research team. This includes
identifying the project manager, data analysts, and research coordinators.
3.Develop a Budget: Developing a budget for marketing research is critical to ensuring
that the research is conducted efficiently and effectively. This includes determining the
resources needed for data collection, analysis, and reporting.
4.Choose Data Collection Methods: There are various methods available for data
collection, including surveys, focus groups, and observational research. Choosing the
appropriate data collection method is critical to ensure that the research objectives are
met.

16. ORGANIZING MARKETING
RESEARCH FUNCTION
5.Implement Quality Control Measures: Quality control measures are
important to ensure that the data collected is accurate, reliable, and valid. This
includes conducting pretesting and piloting of survey instruments, ensuring the
reliability of the sample, and verifying the accuracy of data collected.
6.Analyze and Interpret Data: After data collection, the data should be
analyzed and interpreted to extract meaningful insights. This includes using
appropriate statistical methods and data visualization tools to support decision-
making.
7.Communicate Results: Finally, the results of the marketing research should
be communicated to the relevant stakeholders. This includes creating reports
and presentations that effectively communicate the insights generated from the
research.

17. EVALUATING UTILITY OF
MARKETING RESEARCH
1.Determine the Research Objectives: The first step in evaluating the utility
of marketing research is to determine the research objectives. This involves
identifying the problem or opportunity that the research is intended to address
and developing clear research questions.
2.Assess the Research Design: The research design should be assessed to
determine whether it is appropriate for the research objectives. This includes
evaluating the sampling method, data collection methods, and data analysis
techniques.
3.Evaluate the Quality of the Data: The quality of the data should be
assessed to determine its accuracy, completeness, and reliability. This
involves checking for errors, outliers, and missing data.

18. EVALUATING UTILITY OF
MARKETING RESEARCH
4.Analyze the Results: The results of the research should be analyzed to determine
whether they provide insights that are useful for decision-making. This involves
identifying key findings and interpreting the data in light of the research objectives.
5.Compare the Costs and Benefits: The costs and benefits of the research should be
compared to determine whether the insights generated justify the investment in the
research. This includes considering the direct costs of conducting the research, as well
as the potential benefits to the business in terms of improved decision-making,
increased sales, and enhanced customer satisfaction.
6.Consider the Impact on Decision-Making: Finally, the impact of the research on
decision-making should be evaluated. This involves assessing whether the insights
generated from the research have been used to inform business decisions and whether
these decisions have had a positive impact on the business

19. THREATS TO MARKETING
RESEARCH
1.Sampling Bias: Sampling bias occurs when the sample of respondents is not
representative of the target population. This can lead to inaccurate results and
flawed conclusions.
2.Response Bias: Response bias occurs when respondents provide answers
that are not truthful or accurate. This can be caused by factors such as social
desirability bias, where respondents provide answers that they believe are
socially acceptable rather than truthful.
3.Questionnaire Design: Poorly designed questionnaires can lead to
ambiguous or leading questions, which can result in inaccurate data. This can
be caused by factors such as the use of jargon or technical language,
confusing or complex questions, and bias in the way questions are framed.

20. THREATS TO MARKETING
RESEARCH
4.Data Collection Methods: The method used to collect data can also impact
the validity of the results. For example, relying solely on online surveys may
exclude certain segments of the population who do not have internet access.
5. External Factors: External factors such as changes in the economy or new
technology can also impact the validity of marketing research. For example,
the COVID-19 pandemic has caused significant changes in consumer
behavior, which may not be accurately reflected in pre-pandemic research.
6. Data Analysis: Errors in data analysis can also impact the validity of
marketing research. This can be caused by factors such as the use of incorrect
statistical methods or failing to account for confounding variables.

21. ONLINE MARKETING
RESEARCH
1.Determine the Research Objectives: The first step in conducting online marketing research
is to determine the research objectives. This includes identifying the problem or opportunity
that the research is intended to address and developing clear research questions.
2.Choose the Data Collection Method: There are various methods available for online data
collection, including online surveys, focus groups, and social media monitoring. Choosing
the appropriate data collection method is critical to ensure that the research objectives are
met.
3.Target the Right Audience: To ensure that the research is meaningful and relevant, it is
important to target the right audience. This includes identifying the appropriate demographic
and geographic segments, as well as using appropriate targeting criteria to ensure that the
sample is representative.
4.Use Appropriate Tools: Online marketing research requires the use of appropriate tools to
collect and analyze data. This includes using online survey platforms, social media
monitoring tools, and data visualization tools to support decision-making.

22. ONLINE MARKETING
RESEARCH
5. Ensure Data Quality: Data quality is critical to ensuring that the research
results are accurate and reliable. This involves using appropriate quality
control measures, such as pretesting survey instruments, verifying the
accuracy of data collected, and checking for errors, outliers, and missing data.
6. Analyze and Interpret Data: After data collection, the data should be
analyzed and interpreted to extract meaningful insights. This includes using
appropriate statistical methods and data visualization tools to support decision-
making.
7. Communicate Results: Finally, the results of the marketing research should
be communicated to the relevant stakeholders. This includes creating reports
and presentations that effectively communicate the insights generated from the
research.

23. RECENT TRENDS IN
MARKETING RESEARCH
1.Increased Use of Artificial Intelligence and Machine Learning: Artificial intelligence and
machine learning are being increasingly used in marketing research to automate data analysis
and generate insights more quickly and accurately.
2.Growing Importance of Big Data: Big data refers to the large and complex data sets that
are generated by businesses and consumers. Marketing research is increasingly focused on
leveraging big data to generate insights that inform decision-making.
3.Emphasis on Customer Experience: Marketing research is increasingly focused on
understanding the customer experience, including how customers interact with brands and
products, what motivates them to make purchasing decisions, and how they perceive brands.
4.Use of Mobile Devices: With the increasing use of mobile devices, marketing research is
increasingly being conducted via mobile surveys and other mobile-based data collection
methods.

24. RECENT TRENDS IN
MARKETING RESEARCH
5.Growing Use of Social Media Monitoring: Social media monitoring involves
monitoring social media channels to gather insights about customers, competitors,
and industry trends. Marketing research is increasingly focused on using social media
monitoring to inform decision-making.
6.Increased Focus on Sustainability: Marketing research is increasingly focused on
understanding consumer attitudes and behaviors related to sustainability and the
environment, as well as identifying opportunities for businesses to promote
sustainability and reduce their environmental impact.
7.Integration of Qualitative and Quantitative Methods: Marketing research is
increasingly integrating qualitative and quantitative methods to generate deeper
insights that inform decision-making.