Marketing Research System

1. Marketing Research System • Marketing research as the systematic design, collection, analysis and reporting of data and findings relevant to a specific situation facing the company.

2. Marketing research process • Define problem and research objective • Develop the research plan • Collect the information • Analyze the information • Present the findings • Make the decisions

3. Defining problem and research objectives • Never define the problem too broadly or too narrowly • “Find out anything which can be done to increase the sale of Borekill” - too broad - will collect a lot of un-necessary information - high cost of conducting market research

4. Defining problem and research objectives • “Find out if enough farmers would be willing to pay higher price for Borekill so that the company would recover the cost of promotional programs” - too narrow view of the problem - inconsistent with decision making

5. Defining problem and research objectives • To design the research problem and objectives - “management should first spell out the decisions it might make” and then work backward

6. Defining problem and research objectives • Promotional programs are effective in influencing the buying decisions of the farmers • Farmers are not brand loyal • Different promotional strategies are required for different categories of farmers - based on size of holding - based on their awareness about the product

7. Defining problem and research objectives • Farmers are not price responsive/conscious in making their decision about the pesticide to use for tur crop • It is not economical to use pesticide in a crop like tur • What should be the desired promotional strategy for different categories of farmers?

8. Developing the research plan • Develop the most effective research plan for gathering the needed information • Cost of the research plan versus the benefits out of findings of the research • One must identify the components of research plan

9. Research plan • Decision on - data sources - research approaches - research instrument - sampling plan

10. Data sources • Secondary and Primary data • Start investigation by examining the secondary data first. • Identify the gaps • Collect primary data

11. Research Instruments • Focus group discussion • Sample survey • Experiment research • Sampling unit • Sample size • Sampling technique (simple random, stratified, cluster, judgment, quota, convenience)

12. Research Instruments • Questionnaire - close end - open end “What is your opinion about Borekill?” “What is the first word comes to your mind when you hear the followings: (a) pesticide (b) Podborer (c) Tur

13. Research Instruments • “When I choose a pesticide, the most important consideration in my decision is -----------” • Picture presentation