This document discusses market research, including its definition, purpose, process, types, techniques, and limitations. Market research is defined as the systematic process of gathering and analyzing information to improve marketing decision-making. It helps companies understand customer needs and behaviors. The key purposes of market research are to strategize marketing plans, reduce costs, and introduce products that create value for customers. Both quantitative and qualitative techniques are used to gather primary and secondary data. The overall market research process involves specifying the problem, collecting and analyzing data, and communicating findings. Limitations include cost, time constraints, and the lag between research and application.

1. Moses Gomes, Digital Marketing Consultant

2. What is Market Research ?
"Marketing research is a
systematic problem analysis,
model building and fact finding
for the purpose of improved
decision-making and control in
the marketing of goods and
services."
Can also define it as “The systematic and objective process of generating
‘information’ for aid in making marketing decisions.”

3. Why is Market Research required?
• Help to strategize and review the marketing plan for a
particular product / service.
• This in- turn helps to save cost which on unnecessary
marketing plans.
• Companies require information in order to introduce
products and services that creates value in the mind of
customers.
• The research data can be built into the product, not used as
an afterthought.
• Market data can be implemented effectively, especially in
regard to media buying.
• Finding the right pricing structure to build accurate
budgets.

4. How Market Research helps?
Marketing research is one of the principal tools for
answering questions because it:
◦ Links the consumer, customer, and public to the market
through information used to identify and define
marketing
◦ Generates, refines, and evaluates marketing actions
◦ Monitors marketing performance
◦ Underlines the understanding of marketing as a
process
◦ Provides Answers
◦ Helps set the Direction in understanding the Marketing
Problems

5. What is expected through the
Research?
• Information that helps to gain a grasp on the
(current/potential) consumer
• Major insights required (they – customer)
– Who is the target customer?
– Customer persona
– What motivates the customer to buy?
– How does the customer use the product?
– What is important for the customer in a product?
– Where are the customers located?
And lots of other insights, which are required for a marketing
strategy.

6. Market Research Process
• This process includes:
– Specifying what information is required;
– Designing the method for collecting information;
– Managing and implementing the collection of data;
– Analyzing the results; and
– Communicating the findings and their implications.

8. I don’t know
if we should
enter the
Indian
Market?
Information
Reduces
Uncertainty

9. Classification of Market Research
• Quantitative (nos-based)
• Experiments
• Surveys
• Qualitative (content-based)
• One – On – One
• Focus group
Primary
Research
• Databases
• Industry, Consumer News
• Market Research
• Demographics
Secondary
Research

10. Quantitative (numbers – based)
• Survey
• Provides reliable, hard statistics in such areas
as attitudes, awareness ands usage.
• Provides hard numbers to make difficult
decisions.
– Note: Sample size examples, 400-600 people

11. Qualitative Research
• Focus Groups
• Helps us gain some general impression on the
consumer or product. Usually, 8-12 people
and a moderator.
– Example: Current customer,
non-customer groups,
mom with kids,
single men 18-24 yrs of age.

12. Categories of Marketing Research
Advertising
Research
Product
Research
Sales
Research
Market
Research

13. Marketing Research helps to Strategize
4Ps
Price
Place
Promotion
Product

14. Marketing Research Techniques
• Interviews
• Face-to-face
• Telephone
• Postal questionnaire
• Attitude measurement
• Cognitive component (know/believe about an
act/object)
• Affective component (feel about an act/object)
• Conative component (behave towards an object or
act)

15. Market Research Design & Techniques
Likert scale
◼ strongly agree
◼ agree
◼ neither agree nor disagree
◼ disagree
◼ strongly disagree

17. Market Research Methods
• Group discussion and focus group
• Postal research questionnaires
• In-home scanning - hand-held light pen to scan
barcodes
• Telephone research
• Observation
• Home audit
• Direct observation
• In-store testing such as Taste Testing in a
Supermarket

18. When Should Marketing Research be
Used?
▪ When alternative actions are available
▪ When there are potentially different payoffs from
the different actions
▪ When there is uncertainty about which action to
take
▪ When you are potentially willing to alter actions
based on the research results
▪ When it is possible to collect the information
▪ When the cost of the research is less than the
added benefit

19. The Marketing Research Process
1. Set objectives
2. Define research Problem
3. Assess the value of the research
4. Construct a research proposal
5. Specify data collection method
6. Specify techniques of measurement
7. Select the sample
8. Data collection
9. Analysis of results
10. Present in a final report

20. Coca Cola Case Study
• Example of how blind taste tests missed the
point
• In the mid 1980’s, 200,000 consumers took
part in taste tests, old Coke vs. new Coke
flavour
• April 23rd, 1985 – Coke changes its flavour;
Renames product to new Coke as results
suggest new Coke taste is preferred
• 1990- Diet Coke
• 2000-New Coke Flavours – Zero Coke

22. • Research failed to show consumers felt a
bond with their old Coke
• Announcements that old Coke was
coming off the shelves, spurred many to
stock up their basements
• One man bought $1000 worth of bottles
• July 11th, 1985: Old Coke returns
• Old Coke is renamed Coca Cola Classic
• Consumers rejoice; Coke company
realises Coca Cola is more than just a soft
drink
• ‘Diet Coke’ targeted to Female Drinkers
• Zero Coke targeted to Male Drinkers
• Raspberry Coke

25. How Nestle
changed
Japanese
from tea
drinking to
coffee addicts

26. Japan has been a green tea drinking nation for centuries. Green
tea with rice is deeply associated to Japanese culture.
Post World War II, Japanese started to adapt Western culture.
Nestle felt it was right time to
introduce Nescafe in Japan. For the
next 5 years, Nestle did not made
much progress despite aggressive
advertising, affordable pricing and
best quality coffee.

27. In 1975, Nestle hired
famous French
psychoanalyst, Clotaire
Rapaille.
Rapaille was well
known for his research
on the emotional
bond's humans form
with objects in their
culture.

28. These Japanese did not have any childhood memories
with coffee and hence never formed emotional bond
with it.
Through his experiments, he concluded that Japan's
problem with coffee is deeply rooted in their culture.
People associated their happy childhood memories with
products and objects which Rapaille asked?
But he got no response for coffee.

29. Rapaille asked Nestle to
make coffee sweets for
children and teens.
Regardless of any
geographies like
everyone likes sweets.
Nestle made caffeine
free coffee flavoured
candies and slowly
Japanese people started
to associate happy
memories with this
candies.

30. Decade later, Nestle again introduced
Nescafe and it was an instant hit since
majority of its candy eating audience
was now a working force.

31. Limitations of Market Research
• Cost
• Limited time to collect data
• Customer commitment/validity of data
• Time lag between research and application

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