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Marketing Research

Extracts from this essay...

Introduction

Marketing Research TOPICS Page No. Chapter 1: MIS 64 1.1 Concept of MIS 1.2 Key components of MIS a) Internal records b) Marketing intelligence activities c) Marketing research d) Marketing decision support system CHAPTER 2: BASICS OF MARKETING RESEARCH 69 2.1 TYPES OF RESEARCH 2.2 DEFINITION OF MR 2.3 Features of MR 2.4 Applications of MR 2.5 Limitations of Marketing research Chapter 3: 74 The Marketing research Process Chapter 4 : Developing the research plan 77 4.1 Data Source 4.2 Research Approaches Chapter 5: Research Instruments 86 5.1 Types of Questionnaires 5.2 Types of Questions 5.3 Scaling techniques/ scales of measurement 5.4 Steps involved in Questionnaire construction 5.5 sample questionnaires 5.6 Consumer PANELS/omnibus panels Chapter 6 SAMPLING PLAN : 108 6.1 CENSUS V/S SAMPLE 6.2 The preparation of the sampling plan 6.3 SAMPLING TECHNIQUES 6.3.1 PROBABILITY SAMPLING TECHNIQUES 6.3.2 NON PROBABILITY SAMPLING TECHNIQUES 6.4 TYPES OF ERRORS IN MARKETING RESEARCH CHAPTER 7 : MODES OF COMMUNICATION (CONTACT METHOD) 119 7.1 PERSONAL INTERVIEWS(SURVEY) 7.2 Mail Survey 7.3 Telephone survey Chapter 8: Collecting, Analyzing and interpreting data 123 8.1 Collecting the information: The fieldwork 8.2 Analyzing the information 8.3 HYPOTHESIS TESTING 8.4 Z-TEST 8.5 t-test 8.6 The Chi-square test for cross tabulations 8.7 ANOVA Chapter 9 : Marketing research report 133 Bibliography : 134 Chapter 1: MIS 1.1 Concept of MIS 1.2 Key components of MIS a) Internal records b) Marketing intelligence activities c) Marketing research d) Marketing decision support system 1.1 Introduction to the concept of MIS: The marketing environment is changing at a breathtaking pace. Till 1991 (pre-liberalization phase) India was basically a sellers market, with consumers having little or no choice. Till 1991 the car brands available in India were Fiat, Ambassador and Maruti. Now in 2005, we have a plethora of brands from Hyundai Santro to the Mercedes . Thus now its no longer a sellers market. It's a buyers market.

Middle

They are often time consuming 2) The interviewer might not record responses to the open questions correctly, resulting in interviewer bias. 3) The responses obtained might be so varied , it might not be possible to arrive at any conclusion. For e.g. Out of 100 respondents asked to name the brands that they are aware of , atleast 80 of them name different regional brands. 4) The coding and editing task of summarizing information from open ended questions is often very laborious and not worth the effort. Closed questions a) Multiple -choice questions : Questions in which a fixed number of choices are made available to the respondent as answers are termed as multiple choice questions. The respondent is generally asked to make exactly on choice . In case the number of alternatives or choices chosen are more, then he is asked to rank the choices in order of importance. E.g 1) How did you decide to buy the washing machine a) On your own b) Advised by a friend c) Advertisements d) Gift e) Demonstration of the product. 2) What is your concept of orange juice? A) Nutritive b) low calorie c) should easily mix d) natural 3) What is a reasonable price you would be ready to pay for an updated version of the yellow pages. A) below Rs 50 b) Between Rs. 50-100 C) Between Rs.100-150 d) between Rs.150-200 Advantages : 1) They are faster to administer 2) They lend themselves to analyses using various statistical techniques 3) The coding , editing and tabulation process is simplified to a large extent. 4) They are not prone to interviewer bias. Disadvantages 1) If the number of choices given is too large, the respondents might get confused. 2) If there are too many such questions , the questionnaire becomes very monotonous. 3) If one of the choices given is don't know or can't say , the respondent might conveniently mark that to save any bother.

Conclusion

The alternative hypothesis is H1: all the means are not equal. Then following steps are involved in the analysis of variance 1) Calculate variance between the samples 2) Calculate variance within the samples 3) Calculate the F ratio by the following formula F= Variance between the samples/variance within the samples 4) Compare the value of F as arrived in step number 3 with the critical value of F such as 5% significance level for the applicable degrees of freedom When the calculated value of F is less then the table value of F , the difference in sample means is not significant and the null hypothesis is accepted. In contrast , when the calculated value of F is more then the critical value of F , the difference in sample means is regarded as significant and the null hypothesis is rejected. e.g Suppose a manufacturer of a breakfast food is interested to know the effectiveness of 3 different types of packaging . He puts each kind of packaged breakfast food into five different stores. He finds that during a given week the number of packages sold were as follows. Packaging 1: 25, 28, 21, 30, 26 Packaging 2: 27,25,25,33,30 Packaging 3: 22,29,26,20,23 The mean sales for these three packaging are packaging 1= 26, packaging 2= 28and packaging 3= 24. What the manufacturer would like to know is whether the differences among the means are significant. Uses of ANOVA ANOVA is used when the independent variables are of nominal scale and dependent variable is metric (continuous) the independent variables may be different levels of prices or different pack sizes or different product colors and the effect (dependent variable) could be the sales of the product. ANOVA is used in experimental designs. Chapter 9 : Marketing research report A marketing research report normally contains the following topics, which are self-explanatory. 1. Title page 2. Table of contents 3. Executive summary 4. Introduction 5. Statement of objectives 6. Methodology a) research design b) Data collection method c) Sampling d) Field work e) Analysis and interpretation 7. Limitations 8. Findings 9. Conclusions and recommendations 10.

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