Rm1

Prantosh Banerjee

RM (Research Methodology)

RESEARCH METHODOLOGY :: Purpose Provide information to assist Managers to make better decisions. :: Specifically  Identity P/O  Select P/O to solve  Solve through info. :: MIS (Marketing Information System) System designed to generate, store and disseminate an orderly flow of relevant info to marketing managers.

RM (Research Methodology)

RESEARCH METHODOLOGY :: Marketing DSS Databases with associated models and software that allow managers to interact directly with databases. :: RM not required when  Problems not intrinsically amenable to research  Time and money costs are excessive

RM (Research Methodology)

RESEARCH METHODOLOGY :: RM definition Formalized means of obtaining info to assist Managers in better decision making. :: As per AMA : RM : -

Specifies info required to address P/O issues. Designs method for collecting info. Manages and implements data collection process Analyses results Communicates findings and their implications.

RM (Research Methodology)

RESEARCH METHODOLOGY :: How to decide whether to do RM or NOT Establish Objectives P/O

ID Measurement shows obj. not met Impact

P/O

Prioritisation

Selection Time

Develop alternatives to meet objectives. P/O

Resolution

Evaluate alternatives vis-a-vis objectives.

RM (Research Methodology)

RESEARCH METHODOLOGY :: RM Services “MAKE” or “BUY” Factors  Economic  Expertise available  Special equipment required  Political consideration  Legal / Promotional  Admin aspects  Confidentiality requirements.

RM (Research Methodology)

RESEARCH METHODOLOGY :: Industry Services  Custom research  Field services  Data analysis  Syndicated services  Branded research products. :: RM Careers STAFF

:

Part of Marketing Team

LINE

:

RM Service Provider

RM (Research Methodology)

RESEARCH METHODOLOGY

:: RM Design

ID. MGMT. P/O

Translate P/O to RES. Problem

Collect Analyse Report Info.

RM (Research Methodology)

RESEARCH DESIGN PROCESS

STEP 1 : Create Research Proposal

STEP 2 : Implement Research as per Plan

STEP 3 :

Present Findings / Recommendations along with Detailed Report.

RM (Research Methodology)

RESEARCH DESIGN PROCESS : PROPOSAL PREPARATION  Define research problem  Estimate ‘Value of Information’ to be provided by RM  Select data collection methods  Select measurement techniques  Select sampling methods  Select analytical approach  Evaluate ethics of research  Specify time and final cost.  Prepare research proposal

RM (Research Methodology)

Define Research Problem

Primary Research Obj. (PRO) (also called Management Objectives)

Research Problem Secondary Research Obj. (SRO) (also called Research Objectives)

RM (Research Methodology)

Define Research Problem PRO

: Specifies information needed by management Normally starts with the phrase “ To determine….”

SROs : Crystallised through 4 inter related steps : - Management P/O clarification - situational analysis - model development - specs for info requirements CASE – I Research Categories : - Exploratory - Descriptive - Causal

RM (Research Methodology)

Estimate Value of Information :: Conduct Research When Value of Information

>

:: Estimation Methods  Intuitive approach  Expected value approach

Cost of Obtaining Information

RM (Research Methodology)

Estimate Value of Information  Intuitive approach Based on Personal / Private judgment of assessor Factors Could Be - Alternative actions

• Decide to change W/O RM • Do RM then decide • Decide not to change W/O RM

- Possible states of Market and their payoffs - Degree of uncertainty about market state - Forecasting ability - Risk preference of decision maker /firm.

RM (Research Methodology)

Estimate Value of Information  Expected Value of approach - Quantitative Model - Apply Bayesian Statistics

CASE – II

RM (Research Methodology)

Select Data Collection Approach - Secondary Data - Survey Data

Primary / Secondary

- Exptal Data

:: Methods Secondary Research - Internal Sources

:

- External Sources :

Within Firm • Govt. • Trade Association • Syndicated Services

RM (Research Methodology)

Select Data Collection Approach Survey Research - Telephone Interviews - Mail Interviews

Home Interview

- Personal Interviews - Computer Interviews

Intercept Interview

Exptal Research - Lab Expt

- Field Expt

Basic Designs

(1 Variable)

Statistical Designs

(> 1 Variable)

Basic Statistical

RM (Research Methodology)

Select Data Collection Approach :: Secondary Data Advantages :

- Quick - Inexpensive

Problem could be

- Availability :

- Relevance - Accuracy - Sufficiency

RM (Research Methodology)

Select Data Collection Approach :: Sources Internal:

External

:

- A/C Records

- Computerised Database

- Sales Force Reports

- Associations

- Misc. Reports

- Govt. agencies

- Internal Experts

- Syndicated services - Directories / published sources - External experts

RM (Research Methodology)

Select Data Collection Approach :: Primary Data - Commercial Surveys - Audits - Panels

RM (Research Methodology)

Select Data Collection Approach Commercial Survey - Conducted by Res. Organisation

Periodic S. Panel S. Shared S.

Periodic Survey - Conducted at Specific Intervals Panel Survey (Interval Panel) - Conducted among group of respondents. Shared Survey (Omnibus Survey) - Conducted by res. Organization for multiple firms.

RM (Research Methodology)

Select Data Collection Approach Audit Physical Inspection of

:

To determine

Types

:

-

inventory sales receipts shelf facings pricing other marketing mix elements

- sales / market share / Dist. - relevant info - Store audit - Pdt. Audit - Retail distribution audit.

RM (Research Methodology)

Select Data Collection Approach Panels - Group of individuals / organization who have agreed to provide info. on & continuous basis. Panels could be - Retail Panels - Consumer panels

RM (Research Methodology)

Select Measurement Technique Four Basic Techniques : Questionnaire

:

Q/A

Attitude scales

:

Self Report w.r.t Object

Observation

:

Direct examination

Depth interviews

:

Free expression

RM (Research Methodology)

Select Sample - Sample should be relevant - May use probability sampling Considerations of practicality to be kept in mind

RM (Research Methodology)

Select Analysis Method - Based on samples, measurement tech, data collection method - Do dummy run - Check results provide info as per objectives

RM (Research Methodology)

Ethics of RM - Can face public scrutiny - Approximations / rounding offers to be ethical

RM (Research Methodology)

Time & Final Requirements

- Interchangeable - Use PERT + CPM

RM (Research Methodology)

Research Proposal Elements : Executive summary: - Statement of Major points Background : - Management problem & influencing factors

Objectives : - Data RM will generate - Relevance of data to marketing problems - Value of info

RM (Research Methodology)

Research Approach Non technical description of - Data collection method - Measurement instrument - Sample Plan - Analysis technique

RM (Research Methodology)

Time & Cost Requirements - Explain with PERT CHART

Technical Appendices - Statistical & Detailed Information

RM (Research Methodology)

:: Survey Research Definition Systematic gathering of information from respondents for the purpose of understanding / forecasting behavior of respondents. Process Questionnaire Admin / Interview Types of Interviews - Direct / Indirect ( Disguised ) - Structured / Unstructured

RM (Research Methodology)

:: To decide which type to use : R/ l have Common U/STDG of Sought info ?

N

N

will struc./ ind. Int. give Info. Required ?

Y will R be ABLE to provide Answers ?

Y N

will unstruc./ Dir Int. give info. required ?

Y will R be WILLING to provide Answers ?

Y N

Y

use STR./ DIR Interview

use STR./ INDIR Interview

use UNSTR./ DIR Interview

use UNSTR./ INDIR Interview

N