Thursday, October 6, 2011
Friday, September 30, 2011
Tuesday, July 12, 2011
Today, marketing research is pervasive. We will define marketing
research as "all techniques used to provide information that assists
the firm in all of its decision-making processes relevant to customers
Marketing Research: is the systematic, objectives and comprehensive
search for the study of the factors related to any problem in the
field of marketing.
Types of Marketing Research:
Marketing research approaches are varied. There are many different
types of marketing research projects that require various types of
knowledge and academic background. Approaches to conducting marketing
research range from quantitative to qualitative in nature.
a. Quantitative Marketing Research : Quantitative marketing research
is comprised of sophisticated techniques that require expertise in
descriptive statistics. Types of quantitative marketing research
include surveys, audience measurement for different types of media,
and store audits etc.
b. Qualitative Marketing Research : Qualitative marketing research may
require a broad knowledge of psychology (the study of individual
behavior), sociology (the study of group behavior), and social
psychology (the study of individual behavior.
Qualitative research is less involved with numbers and usually
provides a 'closer interaction' with the subjects in the research
project. Types of qualitative research include focus groups and
observational studies. Observational studies involve watching
respondents while they are engaged in some activity. Qualitative
research, at present, is growing much faster in popularity. The
reasons for this are that qualitative research is usually less
expensive and faster to perform than quantitative marketing research.
Scope of Marketing Research
Marketing research is concerned with the study of the factors that are
directly related in marketing of goods and services and it includes
the study of the effectiveness of the marketing-mix, advertising
strategies, competition and consumer behavior. It is helpful in
formulating strategies suitable for market as well as also guides in
planning and future forecasting by analyzing factors.
1. consumer research
2. Product-mix research
3. Sale research
4. Distribution analysis
5. Pricing strategies impact analysis
6. Market share analysis
7. Market characteristics analysis
8. Competitor research
9. Promotion Research
Saturday, June 18, 2011
Thursday, June 9, 2011
Definition:Consumer behaviour is the study of how individuals, groups and organizations select, buy and dispose of goods, services, ideas or experiences to satisfy their needs and wants.
Importance; It seeks to understand the consumer buying decision process and to answer the following questions;
Who makes the market?
Who do they buy from?
What does the market buy?
When do consumers buy?
Why do they buy?
How do they buy?
Understanding Consumer Behaviour: 7 O’S Framework:
Who is the customer? Occupants
what does the consumer buy? Objects
why did they buy? Objectives
Who participate in the process? Organisation
When did they buy? Occasions
Where do they buy/ Outlets
How did they buy? Operations
Model Of Consumer Behaviour (Stimulus-Response Model Of Buyer Behaviour)