Marketing Research

Syllabus

205MKT (Semester II)

Marketing Research

UNIT-I

Introduction to Marketing Research: Definitions - Marketing Research, Market Research, Scope and Limitations of Marketing Research, Role of Information in Marketing Decisions, Value and Cost of Information, Marketing Information System and Marketing Research, Marketing Decision Support System, Threats to Marketing Research, Relationship between Marketing Research & Marketing, Organising Marketing Research Function, Evaluating Utility of Marketing Research, Online Marketing Research, Recent Trends in Marketing Research, Marketing Research Industry in India.                                                                                                                           (3+1)

UNIT-II

Marketing Research Proposal: The Marketing Research Brief, The Marketing Decision Problem, and Marketing Research Problem Defining the Marketing Research Problem, Developing the Research Approach, The Decision Maker & the Environment, Alternative Courses of Action, Objectives of Decision Maker, Consequences of Alternative Courses of Action, Translating Decision Problem to Research Problem, The Marketing Research Proposal (Background – Basic Problem/Opportunity, Objectives, Research Design – Qualitative & Quantitative Approaches, Data Requirements, Data Collection Methods, Data Collection Instruments, Population Definition, Sample Plan, Sample Size, Sampling Methodology, Statistical Analysis, Cost Estimates, TimeLine, Appendices), Report Writing, Ethical Issues in Marketing Research – Participant Issues, Sponsor Issues, Corporate Espionage, Code of Ethics. (5+1)

UNIT-III

Advanced Analytical Tools:

1)       Conjoint Analysis: Conceptual Basis, Procedure, Type of Data Required, Key Decision, How to Interpret Output,  Applications to Study Tradeoff Patterns of Consumers as Related to Different Levels of Marketing Mix Elements (Question on Interpretation of Output is Expected)

2)       Factor Analysis: Conceptual Basis, Type of Data Required, Procedure, PCA, Interpreting Factor Matrix (Factor Loadings, Communalities, Eigen Value), Determining Number of Factors Using Latent Root Criteria & Screen Test, Interpreting & Naming Factors, Applications in Consumer Behavior Studies (Interpretation of Output is Expected)

3)       Cluster Analysis: Conceptual Basis, Type of Data Required, Procedure, Clustering Methods – Single Linkage Rule, How to Interpret Output, Applications Related to Psychographic & Lifestyle Market Segmentation (Interpretation of Output is Expected)

4)       Multidimensional Scaling & Perceptual Mapping: Conceptual Basis, Type of Data Required, Key Decision attribute-based versus Non-Attribute based Approaches, Procedure, How to Interpret Output, Applications related to Target Market Selection & Positioning (Interpretation of Output is expected)

5)       Discriminant Analysis (Two Group Case): Conceptual Basis, Type of Data Required, Determining the Coefficients, Interpreting Discriminant Function & Classifying Subjects Using Discriminant Function, Applications in Marketing (Interpretation of Output is Expected)                                                                                                                                                                                      (10+2)

UNIT-IV

Marketing Research Applications - I:

1)       Sales Analysis and Forecasting: Mining Internal Customer and Sales Data, In-Store Shopper Marketing Research and Retail Shop Audits, Margin Trend Data, Targeting Best Customers, Identifying Most Efficient and Effective Advertising and Promotion Methods to Reach Existing Consumers, Consumer Panels, Customer Satisfaction Research, Market Demand and Market Potential, Forecasting, Forecasting Methods, Choosing a Forecast Model, Forecast Errors. Moving Average and Exponential Methods, Decomposition Methods, Regression Models.

2)       New Product Development and Test Marketing: Marketing Information for New Markets, New Product Categories, new Product Concepts, New Product Design and Market Validation Research, Test Marketing – Uses, Types, Methods, Limitations. Conjoint Analysis for Understanding Consumer Preferences and Application to Product Design.

3)       Market Segmentation and Positioning: Researching Traditional Market Segments, Defining Meaningful Segments, Assessing Existing Product Strength and Line Extension Potential, Creative Positioning Strategy, Repositioning Strategy Research, Defining Go-to-Market Strategy, Current and Potential Markets. Use of Factor Analysis and Perceptual Maps.

4)       Pricing research: Pricing Research and Pricing Strategy Decisions, Optimum Price-Product-Feature Configurations and Market Positioning Opportunities.                                                                                                                                                          (10+2)

UNIT-V

Marketing Research Applications - II:

1)       Brand Research: Brand Concepts, Brand Names, Brand Power Research, Brand Equity Survey Measurements, Brand Tracking Studies.

2)       Advertising Research: Concept Testing Research – Evaluating Advertising Concepts, Ad Theme Concepts and Appeals, Ad Recall Surveys, Message, and Theme Salience, Impact Measures, Buying Motivation and Association Measures, Media Research Like Readership Surveys, Media Audience Tracking Studies, TRP, Limitations of Advertising Research.

3)       International Marketing Research: Marketing Research in International Context - Importance, Complexities and Issues, International Secondary Data Sources, Primary Data Collection Methods and Complexities of Data Collection in International Marketing Research, Online Data Sources, and Research, Issues in Multi-Country Data Analysis – Data Comparability and Validity Problems, Major Sources of Errors, Report Preparation and Presentation.                                                                        (9+2)