MS-66 Marketing Research

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ASSIGNMENT

Course Code	MS-66
Course Title	Marketing Research
Assignment Code	Assignment Code : MS-66/TMA/SEM - II/2014
Coverage	All Blocks

Note – Answer all questions. Each question is followed by evaluation scheme.

1.(a)  When and why Marketing Research is undertaking is an organization? Suggest some possible areas of application of M.R.

Answer : When and why do market research?

Market research is important for every business, and should not be just a one-off activity.

Successful businesses conduct research on a continual basis to keep up with market trends and to maintain a competitive edge. Regardless of whether you’re starting or expanding your business, market research is vital to understanding your target market and increasing sales.

Business owners conduct research for many reasons

(b)  Major problems associated in undertaking M.R. in India.

Answer : Market research today finds itself in somewhat of a quandary. Mostly, it is a field that is trying to remain relevant amidst the sea of changes taking place in marketing and sales today in the new digital and buyer experience economy. As the gatherer of market and customer data, market research is struggling to prove its value to senior management.

Some of the challenges in undertaking marketing research in India:

·         The first is the "how and why" complex. Conventionally, market research has focused on getting to the "who and what" of potential markets and customers. Gathering some good demographic information as well as

2. (a) What is Research Designs? Describe briefly the various kinds of research designs and their application for different research situations.

Answer- A research design is a systematic plan to study a scientific problem. The design of a study defines the study type (descriptive, co relational, semi-experimental, experimental, review, meta-analytic) and sub-type (e.g., descriptive-longitudinal case study), research question, hypotheses, independent and dependent variables, experimental design, and, if applicable, data collection methods and a statistical analysis plan. Research design is the framework that has been created to seek answers to research questions.

The various kinds of research designs and their application-

General Structure and Writing Style

b) Discuss the role and scope of data collection in Marketing Research Project.

Answer : Data Collection in Marketing Research

Data Collection in Marketing Research is a detailed process in which a planned search for all relevant data is made by researcher.

Types of Data

·         Primary Data- Primary data is the data which is collected first hand specially for the purpose of study. It is collected for addressing the problem at hand. Thus, primary data is original data collected by researcher first hand.

·         Secondary data- Secondary data is the data that have been already collected by and readily available from other sources. Such data are cheaper and more quickly obtainable than the primary data and also may be available

3. (a) What are sample designs in Marketing Research. Briefly explain the various types of probability sampling methods available to the researcher.

Answer : Market research involves the collection of data to obtain insight and knowledge into the needs and wants of customers and the structure and dynamics of a market. In nearly all cases, it would be very costly and time-consuming to collect data from the entire population of a market. Accordingly, in market research, extensive use is made of sampling from which, through careful design and analysis, Marketers can draw information about the market.

Sample Design in Marketing Research :

(b) Discuss the importance of questionnaire as a research instrument of data collation.

Answer : A questionnaire is a set of systematically structured questions used by a researcher to get needed information from respondents. Questionnaires have been termed differently, including surveys, schedules, indexes/indicators, profiles, studies, opinionnaires, batteries, tests, checklists, scales, inventories, forms, inter alia.

The questionnaire may be self administered, posted or presented in an interview format. A questionnaire may include check lists, attitude scales, projective techniques, rating scales and a variety of other research methods. As an

4. (a) Distinguish between qualitative research and quantitative research. Discuss the various methods of conducting qualitative research in India.

Answer : Difference between Qualitative Research and Quantitative Research

In a nutshell, quantitative research generates numerical data or information that can be converted into numbers. Qualitative Research on the other hand generates non-numerical data.

1. Goal or Aim of the Research

The primary aim of a Qualitative Research is to provide a complete, detailed description of the research topic. It is usually more exploratory in nature.

(b) Discuss the application of conjoint analysis in the field of marketing.

Answer : Conjoint analysis is a set of market research techniques that measures the value the market places on each feature of your product and predicts the value of any combination of features. Conjoint analysis is, at its essence, all about features and trade-offs. With conjoint analysis, you:

·         Ask questions that force respondents to make trade-offs among features

·         Determine the value they place on each feature based on the trade-offs they make

·         Simulate how the market reacts to various feature trade-offs you are considering

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