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ENTREPRENEURSHIP EVELOPMENT

Submitted To,

Prof. Anil G S

Department of Management Studies

Bishop Jerome Institute

Kollam. Presented By,

Ginu L Prakash

S4 MBA

Bishop Jerome Institute

Kollam

Marketing research of pre start up planningSources of marketing research information

Implication of market research

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What Is Marketing Research:

Marketing Research is the function which

links the consumer,customer and public to the

marketer through information

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What is Marketing Research?

Marketing Research:

Identifies and defines marketing

opportunities.

Generates, refines, and evaluatesmarketing actions.

Monitors marketing performance.

Improves understanding of marketingas a process.

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Marketing Research:

Specifies the information required to address theseissues .

Designs the methods for collecting information.

Manages and implements the data collection process.

Analyzes the results.

Communicates the findings and implications.

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Goals of Market Research

To find out:

Who is most likely to purchase the product or

service at market introduction?

What do these customers typically buy, how dothey buy it, and how do they hear about it?

What is their buying pattern? How often do they

buy?

What are the customers needsand how can the

new venture meet those needs?

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Marketing Research can reveal

consumer characteristics:

Demographic.

Socio-economic.

Life-style.

Awareness. Behavior (past, present and intended )

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Market research in pre start up

phase

Who is the customer?

Gender and Age

Income StatusOccupation and Education

Other customer characteristics

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Market research in pre start up

phase

Where is the market?

Market size and changes

Segmenting the MarketGrowth characteristics

Sales Forecast

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Market research in pre start up

phase

Competition

Who are the market players?

Existing competitorsProducts or substitutes

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Market research in pre start up

phase

Distribution

How will customers be reached?

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Market research in pre start up

phase

Sources of market intelligence:

Existing competitors

Trade publicationsSecurities Analysts Reports

Potential customers

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The Marketing Research Process

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Primary Versus Secondary Data

Primary data: information that is developed orgathered by the researcher specifically for the

research project at hand Secondary data: information that has previously

been gathered by someone other than theresearcher and/or for some other purpose thanthe research project at hand

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Sources of marketing research

information

1. Internal Sources

2. External Sources

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1. Internal Sources

Company Accounts

Internal Reports and Analysis

Stock Analysis

Retail data - loyalty cards, till data, etc.

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2. External Sources

Government Statistics

Trade publications

Household Expenditure Survey

Magazine surveys

Other firms research

Research documentspublications, journals, etc.

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Advantages of Market Research Helps focus attention on objectives

Aids forecasting, planning and strategic development

May help to reduce risk of new product development

Communicates image, vision, etc.

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Disadvantages of Market Research Information only as good as the methodology used

Can be inaccurate or unreliable

Results may not be what the business wants to hear!

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Types of Probability Sampling

Simple Random

Stratified Random Sampling

Cluster Sampling Systematic Sampling

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Convenience Sampling

Consecutive Sampling

Quota Sampling

Judgmental Sampling

Snowball Sampling

TYPES OF NON- PROBABILITY

SAMPLING

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