MM II 2014 MR N
10-12-2013
Introduction to MR
Agenda
MR Industry – Overview
Why MR? Why is it Important?
MR – Easier or Tougher now?
MR Defined
Steps in the MR process
Defining Management Decision Problem
Defining Marketing Research Problem
1
10-12-2013
Why MR? . . .
Marketing management is all about making decisions relating to 4 Ps, STP and issues like market entry
For any decision-making, information is vital
MR provides managers this info
Without this, managers will go by hunches
Does this happen now?
“In God we trust, for the rest we need data”
Why MR? . . .
Without MR, it is impossible to get certain insights which may be crucial
Managers take better informed decisions
It would be foolish/arrogant to take decisions without MR
ITC & Lintas set up “Bharat Barometer” to study rural consumers
Rural India is tough to know and the e-Choupals help ITC here
P&G actually tests their detergents with water from 150 different countries!
2
10-12-2013
MR – Easier or Tougher now?
Certainly easier now
Many consumers own cell phones, phones, cars, bikes, club memberships
Meaning what?
Also, companies nowadays no longer see MR as a waste of money
First budget to be cut in a recession
Now they see it as a necessary investment
MR – Easier or Tougher now?
However, consumer apathy has grown
Widespread disinterest and downright lying e.g. voter opinion polls
Prannoy Roy in 1984 started them
Oftentimes, time is a constraint
HLL had how much time to react to P&G’s price cut? MR possible?
Cavin Kare promos
Also, small companies lack the resources as MR is expensive
3
10-12-2013
MR Defined
So what is MR?
MR Defined
Marketing Research Defined
The systematic and objective process of generating information for aid in making marketing decisions
Note that it is “systematic” and “objective”
It is thus different from Marketing Intelligence
What is this?
4
Introduction to MR
Agenda
MR Industry – Overview
Why MR? Why is it Important?
MR – Easier or Tougher now?
MR Defined
Steps in the MR process
Defining Management Decision Problem
Defining Marketing Research Problem
1
10-12-2013
Why MR? . . .
Marketing management is all about making decisions relating to 4 Ps, STP and issues like market entry
For any decision-making, information is vital
MR provides managers this info
Without this, managers will go by hunches
Does this happen now?
“In God we trust, for the rest we need data”
Why MR? . . .
Without MR, it is impossible to get certain insights which may be crucial
Managers take better informed decisions
It would be foolish/arrogant to take decisions without MR
ITC & Lintas set up “Bharat Barometer” to study rural consumers
Rural India is tough to know and the e-Choupals help ITC here
P&G actually tests their detergents with water from 150 different countries!
2
10-12-2013
MR – Easier or Tougher now?
Certainly easier now
Many consumers own cell phones, phones, cars, bikes, club memberships
Meaning what?
Also, companies nowadays no longer see MR as a waste of money
First budget to be cut in a recession
Now they see it as a necessary investment
MR – Easier or Tougher now?
However, consumer apathy has grown
Widespread disinterest and downright lying e.g. voter opinion polls
Prannoy Roy in 1984 started them
Oftentimes, time is a constraint
HLL had how much time to react to P&G’s price cut? MR possible?
Cavin Kare promos
Also, small companies lack the resources as MR is expensive
3
10-12-2013
MR Defined
So what is MR?
MR Defined
Marketing Research Defined
The systematic and objective process of generating information for aid in making marketing decisions
Note that it is “systematic” and “objective”
It is thus different from Marketing Intelligence
What is this?
4