1. H Dangi, FMS 1 Introduction to Marketing Research Lecture 1 Hamendra Dangi hkdangi@fms.edu 9968316938

2. H Dangi, FMS 2 Session Break Up Out line of Sessions Internal Assessment Text Book Introduction to Marketing Research EVPI

3. H Dangi, FMS 3 Session – Break Up Imparting Instruction with Software Example ( SPSS , Mini Tab , E-view )- 1 Hour 30 minutes Case discussion /Class activity : 30 Minutes Case Study ( One Group in Each lecture ) ( 20 Minutes )

4. H Dangi, FMS 4 INTERNAL ASSESMNET Synopsis submission : After Two weeks ( 2 marks) Written Test (A) - 8th September 2010 ( 10 Marks) Mid Term review of project : One week after minor test (5 Marks ) Final submission and Viva Voce on Projects –2 Weeks before final exam ( 8 marks) Case Presentation/ class activity - 3 Marks Participation in Class – 2 Marks

5. H Dangi, FMS 5 Text Book Business Research – Donald Cooper Research Method : C.R Kothari Marketing Research – Naresh Malhotra

6. H Dangi, FMS 6 Software Statistical Package for Social Science Mini Tab E – View R

8. collection

9. analysis

10. dissemination

13. H Dangi, FMS 9 Question for Discussion Discuss the management decision problem for which following research problem might be useful Determine the number of tenants and their annual income in a particular region Evaluate the effectiveness of commercial in a Mall

14. H Dangi, FMS 10 Classification of Marketing Research Problem-Identification Research Research undertaken to help identify problems which are not necessarily apparent on the surface and yet exist or are likely to arise in the future. Examples: market potential, market share, image, market characteristics, sales analysis, forecasting, and trends research. Problem-Solving Research Research undertaken to help solve specific marketing problems. Examples: segmentation, product, pricing, promotion, and distribution research.

15. H Dangi, FMS 11 Distinction between Risk and Uncertainty Risk: A decision making condition under which a manager can list all outcome and assign probabilities to each outcome Uncertainty : A decision- making condition under which a manager cannot list all possible outcome and/ or cannot assign probabilities to the various outcome

16. H Dangi, FMS 12 Important Term Decision Alternative : There is finite number of decision alternative available with the decision maker at each point when decision is made State of Nature : A possible future condition resulting from choice of a decision alternative depends upon certain factors beyond the control of decision maker

17. H Dangi, FMS 13 Pay off : A numerical value resulting from each possible combination of alternative and state of nature is called Pay off

18. H Dangi, FMS 14 Conditional Pay off table A retailer buys an article at Rs.2 per case and sells the same at Rs.5 . He incurs a loss of Rs 2 for every item which is not sold.Previous experience shows that demand varies from 13 to 15 cases a day . Construct Conditional Payoff table I I

19. H Dangi, FMS 15 Conditional Pay off Table I hear, I forget I see, I remember I do I understand

20. H Dangi, FMS 16 Example A physician purchase a particular medicine n Monday of each week . The medicine must be used within the week following otherwise it will become worthless . The medicine costs Rs 2 per order and physician charges Rs 4 per dose . The past 50 week records are as follow: Dose per Week 20 25 40 60 No of weeks 5 15 25 5 Find : I) EMV ii) EOL iii) EVPI I hear, I forget I see, I remember I do I understand

21. H Dangi, FMS 17 Pay off table

22. H Dangi, FMS 18 EVPI EPPI=40x.10+50x.30+80x.50+120x.10 = 71 EVPI = 71-54 =17 I hear, I forget I see, I remember I do I understand

23. H Dangi, FMS 19 EOL I hear, I forget I see, I remember I do I understand

24. H Dangi, FMS 20 Question for Discussion Relevance of EVPI?

25. H Dangi, FMS 21 Decision Tree Analysis A Decision tree is nothing but a graphic exercise of showing the sequence of decision to be made and the possible events that may occur

26. H Dangi, FMS 22 Example A company has leased an oil mine . It may sell it for Rs 25000or drill it for oil . The various possible drilling results are given as under along with probability dist.

27. H Dangi, FMS 23 A company has leased an oil mine . It may sell it for Rs 25000or drill it for oil . The various possible drilling results are given as under along with probability dist.

28. H Dangi, FMS 24 Question for Discussion A business man has two investments A and B available to him: but he lacks the capital to undertake both of them simultaneously. He can choose to take A first and then stop, or if A is successful then take B, or vice versa. The probability of success of A is 0.7 while for B is 0.4 .Both require an initial outlay of Rs 2000 and both return nothing if it fails. Successful completion of A will return Rs 3000 while B will return Rs 5000 .Draw the decision tree and determine the best strategy.