Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services.
Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.
The Marketing Research The Marketing Research ProcessProcess
Step 1: Defining the Problem
Step 2: Developing an Approach to the Problem
Step 3: Formulating a Research Design
Step 4: Doing Field Work or Collecting Data
Step 5: Preparing and Analyzing Data
Step 6: Preparing and Presenting the Report
Research Design
• A master plan that specifies the methods and procedures for collecting and analyzing needed information.
Define the Information Needed
Design the Exploratory, Descriptive, and/or Causal Phases of the Research
Specify the Measurement and Scaling Procedures
Construct a Questionnaire
Specify the Sampling Process and the Sample Size
Develop a Plan of Data Analysis
Tasks Involved In a Research Design
Today’s Topic
A Classification of Market Research Designs
Research Design
Exploratory Research
Conclusive Research
Descriptive Design
Causal Design
Cross-sectional Study
Longitudinal Study
Secondary Data Study Observation
Experiment
Survey
Exploratory ResearchPurposes
Identifying potential causes of a problem
Establishing priorities or direction for a research program
Clarifying concepts
Assisting new product development
SecondarySecondary(historical(historical))
DataData
PilotPilot
StudyStudy
ExperienceExperience
SurveySurveyCaseCaseStudyStudy
ExploratoryExploratory
ResearchResearch
Secondary Data
Secondary data are data which have already been collected for purposes other than the problem at hand. These data can be located quickly and inexpensively.
Criteria for Evaluating Criteria for Evaluating Secondary DataSecondary Data
Criteria Issues Remarks
Specifications & Methodology
Error & Accuracy
Currency
Objective
Nature
Dependability
Data collection method, response rate, quality & analysis of data, sampling technique & size, questionnaire design, fieldwork.Examine errors in approach,research design, sampling, datacollection & analysis, & reporting.
Time lag between collection &publication, frequency of updates.Why were the data collected?
Definition of key variables, units of measurement, categories used, relationships examined.Expertise, credibility, reputation, & trustworthiness of the source.
Data should be reliable, valid, & generalizable to the problem.
Assess accuracy by comparing data from different sources.
Census data are updated by syndicated firms.The objective determines the relevance of data.Reconfigure the data to increase their usefulness.
Data should be obtained from an original source.
A collective term for any small-scale exploratory research technique that uses sampling but does not apply rigorous standardsIncludes
Focus Group InterviewsUnstructured, free-flowing interview with a small group of people
Projective TechniquesIndirect means of questioning that enables a respondent to project beliefs and feelings onto a third party or an inanimate objectWord association tests, sentence completion tests, role playing
Pilot Studies
Focus Group InterviewFocus Group Interview
Advantages Fresh unstructured reactions Preference for verbal rather than
written communication Reduced costs Quick to initiate Group dynamics stimulate ideas
Disadvantages Requires a well-trained discussion
moderator Relies on interpretation Small Sample Size Effects on Diversity Suggestive but not conclusive
RESEARCH DESIGN- Exploratory research design
SAMPLE STUDY-Three banks namely HDFC ltd.,centurian bank of punjab,ING vysa bank.
POPULATION SIZE- A total of 18 employees of the bank
were targeted but only 14 responded.
SAMPLE SIZE- 14 employees from the bankat the bank payroll
in officer garde including three branch managers.
DATA COLLECTION- Through questionnaires and personal interview
ROLE EFFICACY PARAMETER
EMPOWERMENT TOOS
CORRELATION COFFICIENT
INTEGRATION VS DISTANCE
AUTONOMY,DELEGATION ROLE CLARIFATION,PARTICIPATION
0.98
PRODUCTIVITY VS REACTIVITY
AUTONOMY,HRI,DELEGATION
-0.72
CREATIVITY VS ROUTINITY
MOTIVATION,HRI 0.22
CONFOARMATION VS ACOIDANCE
COUNSELLING,TRAINING, APPRAISALS
-0.08
CENTRALITY VS PERIPHERALITY
AUTONOMY, AUTHRITY
-0.48
INFUENCE VS POWERLESSNESS
AUTONOMY, AUTHORITY,ROLE CLEARIFICATION
-0.93
GROWTH VS STAGATION
COUNSELLING, TRAINING
0.60
LINKAGE VS ISOLATION
PARTICIPATION,COUNSELLING,TRAINING
0.69
HELPING VS HOSTILITY
TRAINING , MOTIVATION
-0.63
SUPERORDINATION VS DEPRIVATION
COMPENSATION, CAREER PLANNING
-0.66
The various tools of empowerment were identified through questionnaire and interview.
The role of efficacy level was from identified from both employee
(branch manager) through a role based questionnaire . The
branch have been considered as employer as they are once
in a bank who bring about empowerment in the operation of bank
NULL HYPOTHESIS- No direct relationship exists between role of efficacy parameter and usage of empowerment tools.
ALTERNATIVE HYPOTHESIS-
Direct relationship exists between role of efficacy parameter and usage of empowerment tools.
Exploratory research
essentially abstraction and generalization. Abstraction means that you translate the empirical observations, measurements etc. into concepts; generalization means arranging the material so that it disengages from single persons, occurrences etc. and focuses on those structures that are common to all or most of the cases. The results of exploratory research are not usually useful for decision-making by themselves, but they can provide significant insight into a given situation