Welcome friends to the course of marketing research and analysis well this course has

a great value in today’s term and everywhere you see today there is a you know the topic

of research and analysis data analysis which as in fact become one of the most discussed

topics in the world of business and around right so I am dr.

J.K Nayak Jogendra Kumar Nayak from the department of management studies I have been teaching

this course for a while now almost you can say seven years right now and maybe I have

conducted about a dozen of courses on this same subject.

So what is this course all about and what I will be going to get at the end of the day

is what we are going to discuss so I will brief you about the course my contents and

all so for example If I start like this let us say marketing research.

Analysis so there are two parts of this subject the

first part includes the theoretical portion which is where I say is most important because

after all if you do not have a foundation if you do not have a control over theory your

understanding of your theory then one cannot apply the tools and techniques in a proper

manner and this is what happens in most of the cases in the real world that there is

a miss match.

Students come to me and scholars come to me and check and ask key how to solve the problem

or how to come out with a solution and then I ask them what is your problem all about

and that’s what some time I see people do not understand okay so I will try to brief

you in this 20 sessions which I have so first few parts I will cover the aspects of marketing

research so covering what is marketing research and introduction and then what are the different

constituents of it what are the different parts of the marketing research process what

is the research design basically and how do we formulate a problem.

How do we move ahead in the research design and what are the types of research design

all these things we will see right and then finally comes the data analysis part the next

part of it the major part if it, so let us start begin the class so let me start with

the since the name marketing is there I think everybody should know what marketing is all

about right so as it say because marketing research is part of marketing.

We should understand three things what is marketing, what are the concepts of marketing

and what is marketing strategy all about right because see the basic idea is why should you

study this subject, this subject is to be studied because the end result is that you

are going to do something beneficial for a firm or a company or an organization in may

be in terms of increase in market share.

May be in terms of increases in profitability may be in terms of increasing the customer

base whatever it is, so how would you do it because one has to understand keep marketing

is got some there is some difference between marketing and others fields are the management

right marketing is more connected with the consumers at large so if you want to connect

the consumer if you want to bring the consumer to your side how what should do so that is

what marketing research talks about okay.

So let us go with what is the first definition of marketing so marketing as been defined

as a process of creating if you can see as a process of creating, communicating and delivering

value to the customers and for managing the customers relationships in fact in marketing

in management it has been said that getting a new customer is 5 times more costlier than

retaining the customer right.

So in such a condition how to connect with a costumer becomes a very important part of

marketing right okay what are the marketing concepts in fact when I say the word concept

we have to understand since the you know the time the firms evolved the time when you know

the theory of the nature of the firm was published by Coase and Ronald Coase and things like

transaction cost economics came into place at one point of time there was the production

was called to be at the helm of the affair right.

So the most important thing was the production and the customers were at the receiving end

okay but today it has changed it has changed drastically let see what has happened so if

you look at it.

Now it is a business philosophy that that holds the key to achieve the organizational

goals and consist of the companies being more effective than competitors in creating delivering

the customer value, now what are the concepts there are five concepts of you can see this

okay, these are the five concepts production concept as I said started with it, then we

moved on to the product people said in the production that whatever you produce it will

be sold in the market, so the manufacturer was the king right.

Then came the product concept where they said every good product would sell on it is own,

so nothing is required then they thought maybe it is not working so we have to push our ideas

we have to sell our products, so maybe you know sales teams where organized and things

turned up the way and companies started pushing that products right, but that also has it

is own disadvantage so then companies started realizing what to do, how to move ahead how

to bring the customer to our side now.

So that came marketing concept where they said you have to understand and identify the

customer’s needs and wants and accordingly then produce the product or service so that

then you do not have to push the product to the consumer but rather the consumer the consumer

will come towards the company or the product, so if I draw it, it is something like if you

see in this let say if this is that the firm is initially the firm was selling to the consumer

right but now.

We are trying to reverse this direction okay finally came the societal marketing now marketing

also had it is own flaws, so what are the flaws that we did not taken into account the

societal part what kind of damage or we doing to the society the nature at large are we

doing it in a sustainable manner so these are things been discussed what if we are exploiting

nature to useful as extent and tomorrow there is nothing left for a next generation, so

societal marketing talks about how to include all these things right and move in a positive

manner okay finally comes the marketing strategy.

It says that it consists of a selecting a segment of the market so you have to understand

what is the segment, now look at this board.

This suppose this is my board let say or this is let say my market okay, now the point is

this whole market I cannot you know get it to this whole market so what I do will I will

only cater to this may be this piece of the market or maybe this piece okay, or let say

this piece or maybe B and C together or A and B together or it could be anything like

that right, so segmenting the market becomes easier because you can divert your resources

in a much better manner okay.

In a more effective way okay so and once you have that you know you see, now if you have

design the market if you have segmented the market properly now then you do not have to

put in your resources suppose this is the market you are going to then you do not need

put your resources for A and C so B is the only market you are doing and to do that you

can design your product you can design your price right, you can design your promotion

you can design your distribution.

According to the needs of B okay so now look at this so how does the successful marketing

go it starts with the market analysis so you analyse the market right look at your competitors

your consumers your customers basically then accordingly you move ahead to create your

to launch your plan and that creates an ex-successful marketing strategy all together, okay.

now to practice marketing as I said.

But we have seen in this world that means several cases where companies have come out

with brilliant ideas organizations have come as brilliant strategies but they have met

with the disaster, they have failed miserably and sometimes not so brilliant ideas have

done wonderfully well, so let us look at a few things so what happens, what is the whole

process behind it okay, so when you see this if you look at this line many decisions require

additional information and marketing research is needed in order to supply that information.

So that means you require information to know okay, how can one do better in a particular

market or one can do better for a particular kind of customers right.

For example, let us take the Harley-Davidson case okay, very famous this company was had

started you know the profits where coming down later was not doing well but then the

company thought what to do, how could they involve so they started the peer to peer markets,

marketing techniques they wanted they a make club like a dimension club, Harley-Davidson

club and slowly they started promoting in there and it worked wonderfully well for them,

right.

So one has to understand what is that information that is we are missing or we needed from the

market and that is where we research comes because research after all does nothing but

it helps you to search an information, research searching again and again and again till you

get into the right information, right, okay.

So these are some classic cases I have brought it for your benefit so you can enjoy and also

learn at the same time if you look at the first one.

It is a very, very powerful, very important case where because for wrong interpretation

of the market and the consumers coco cola burned its fingers, what happened here coco

cola came of with the concept of the new cola they thought that since taste was not a very

important feature they could come up with something new for the consumers, but it was

a grave great mistake because the people of US had a connection with the brand coco cola

with the culture of coco cola, they reacted very badly and coco cola had to come back

again with the new promotion saying the old cola is back again, okay.

So sometimes things are connected with your culture, your tradition and you do not want

to give it away so easily right.

This was another case where McDonalds thought the burgers were being very famous so they

thought if my burgers are famous for with the children’s it would also be famous with

the adults because you know it happens that parents also do consumer part of the burger

with the child, right.

So they thought that and they launched a premium priced burger right, product of McDonalds

which was coming up.

But the adults did not like it, they were not ready to pay higher price, they dislike

the product they were treat, they thought they were been treated like a child that is

the discouraged it and in the whole way coco cola lost 100 million dollars in the year

1996.

Yoghurt shampoo was another case of Procter & Gamble one of the most well researched well

most popular company in the world you can say easily.

Yoghurt shampoo when it came it also made a mistake the mistake was that they did not

research well to understand what do people like in a shampoo, they thought that going

back to your nature and natural products would be a good way of increasing your market share.

But to your dismay what happened is people react, some people even consumed thinking

it is yoghurt they consumed the shampoo and they were hospitalized it gave a very bad

remark and this product failed.

Another product 3D television who would think that 3D television would be ever a failure,

similarly Vizio Company established in the 2000 in early 2000 they never thought, they

thought a 3D television would be a popular thing but it failed what happened?

The reason was the head again not researched what they had not researched?

They had not researched that the number of the 3d movie is being made was very few and

people where not ready to where those glasses most of the time so why you would anybody

watch a 3d television right and lastly this is apple.

I deliberately brought in apple here because we all talk about apple apple apple because

apple a doctor keeps the doctor away you know apple you take a doctor away there is a statement

and the same side apple as a company is the most researched company and the most successful

company in the world we say and put in terms of market capitalization.

So when apple came with the Lisa project the project Lisa they try to address it to the

B2B consumer but they did not realize one thing that the B2B consumer for that particular

category was very price sensitive consumer.

And the Lisa project again failed so why I am saying this is because such great companies

also can make great mistakes and get in to huge losses right, so because of it not a

good proper you know research either research or research design you have not made your

research well so you could land up in to trouble, so let us be very careful this is the successful

case.

Now you tube when people you know can see the founders.

The founders Chad Hurley, Steve Chen, and Jawad Karim they thought what is there to

you know how to find out a way so that they could give it to the public without any bugs

without any problem it could you know show the videos of you know it is very popular

shows and all, they saw that sharing was a at that time was not very reliable thing it

was unreliable and most sites failed to provide dedicated video, so what happen?

They saw it an opportunity, this research help them to find an opportunity in the market

right.

And what came up was you tube which was bought by Google for 1.65billon so who could think

that such a small idea could become such a large organization and such a large profitable

venture okay.

Similarly there are so many other examples like the case of Instagram.

I have put it here you can see that later on and I also put the case of nano, nano is

the very classic Indian case I do not want to get in to the debate of whether it was

successful or not but we can easily say that nano was a classic case of new product being

develop for a new range of consumer right.

So how it happen?

Ratan Tata finds that one day family was traveling on a scooter.

With four people and it was very uncomfortable so he decided then and there that he would

make a car of 1lakh, so this is how the nano started right so we need marketing research

to make the right decisions to implement marketing practice the concept.

And make the right decisions to the set the right marketing strategy, so how this marketing

research is defined now let us see that it says it is the function that links the customer

the consumer and the public through information.

So which we discuss just before and so this information is used to identify and define

he marketing opportunities as you tube did?

They found that there was an opportunity so they exploit it that opportunity and they

did well right so this is all the marketing research definitions says.

Now this is the classic question that comes when we are into the subject of market research

so what does this means let say if I break it up into two parts let say market and then

say again the next one marketing okay so what is this market research and what is marketing

research is there any difference between the two what is the difference we have to think

so market as the name suggest we feel it is like geographical boundary is a large potential

set of buyers and sellers.

Today they may few if I say only geography it might be wrong because we are playing on

the virtual world so okay so marketing research market research talks about specific group

in a specific geographical area but that might you can extend it to the virtual world which

is much bigger okay.

Marketing research what the purpose of market on the other side the marketing research let

see it helps to link the consumer to the marketer by providing information that can be used

on making marketing decisions for example what is the right price what is the right

product should be distributed through this channel or should we distribute some other

channel.

What is the right promotional technique should we promoted it on TV should we add it on the

cable should we add it on the let us say internet should we give it to some other kind of a

you can let say sponsors a cricket match for example anything right so how do you do it

the basically the four P’s of marketing that we talk about and it is connected to

this four P’s of marketing right.

Mostly so let see this what is the uses of marketing research identifying the marketing

opportunities and problems as I said again let us go back to examples generate refine

and evaluate potential marketing actions right so what is the right marketing action to be

taken monitor the marketing performance checking that we are able to achieve our objectives

or not is very important improve it as a process altogether.

Now this is the case of twitter as an example which you like is twitter wanted to launch

that product right but initially they have found they were computing the one of the greatest

players in the market Apple so the third podcast which was apple had launched with support

for iTunes would obviously not do well because they were computing they were small player

and they are computing directly again because they joined Apple right.

So the third they conclude that they are no real chance of computing against apple so

what they did was they did a survey to find out they realized after the survey that the

platform they had build the tremendous scalability and potential right suppose that they double

down on the simplicity and just made a portal were people could share what they were up

to then it will be wonderful right.

After researching they found new venture twitter now which would provide a basic feed of information

with a focus on news and celebrity so it seem crazy but they pull it off initially with

the every new idea people start rising and the think it will not work but they done the

research they saw there was a gap in the market which was existing and they could take advantage

of it right.

Classification of marketing research, so basically we will classify into the problem identification

research and problem solving research, identifying the problem is itself a successful thing,

for example market potential, what is my potential, am I not working to my potential, can I do

something more?

What is my market share?

What is the image in the market?

I will tell this case of you Parle.

When Parle changes it packaging, just to make it more masculine people initially felt that

it is okay to have a Parle but when the color of the packaging changed.

People started thinking that this is something like more vigour the more energy into the

Parle and it is really a fantastic product.

So there was no change in the product but only in the packaging right, so your image

also changes the way you project yourself, so what is the image that is acceptable in

the market and market wants it is very important, so the characteristics of the market forecasting

and trends in the market.

So what is the present trend?

Once upon time the fashion trend if you see change every moment, every 5 years, 10 years

there is the change in the fashion again you go back to the old times and all it so happens.

So understanding and the forecasting, for example there is a very classic case way of

you know sometimes happens, I tell in my classroom also.

That if you’re forecasting is wrong, if you go wrong go in forecasting, if you predict

you are forecast well.

You can predict your market well there is a enormous loss that a company can make because

the entire chain is getting effected.

Let say your, if it does not sell well right then automatically there is a pile up of inventory.

This entirely affects the operation and production side of the company right.

So and obviously when all these gets effected the profitability does not remain the same,

so profits go down.

I think if you can see the profits will go down.

Similarly problem solving research talks about examples like segmentation, which segment,

there is a very nice example which I will tell you.

How to segment the market?

How companies for example Godrej hair dye understood that there was a market beside

the human beings right.

In Maharashtra when they were selling their dyes, they thought and surprised to see why

the sales are going up in Maharashtra where states of hair dye had no clue, but they were

surprised that this was been used for coloring the buffaloes and you can understand how much

the buffaloes consumes.

So these are something like there was a important market that was untapped, so how to what products

to make what pricing, I can give you the dozen of example of this, for distribution the famous

Tata Ace chota hathi comes to my mind.

In the violence of the Lucknow if you have to take your truck you cannot take it is so

difficult, so Tata came up with this different concept chota hathi which is a Tata Ace and

this vehicle manure could you know move into the any lane of any place in India because

India being very congested place so and this product that is the reason became extremely

successful right.

So as I said these are the problem identification in problem solving research so which side

equally they both important.

Okay I think we have gone through this for example the test marketing for example I remember

the time when nestle was doing its test marketing for the maggi right and when I was in school

obviously right so when they doing the test marketing they were trying to influence they

were trying to see whether the market would be readily accepting the products are not

sometimes if you do not do it you are surprised because the market rejects your products because

the market rejects your products right very dangerous okay so all this you can see right

product modification package test and all very important okay.

Similarly the pricing policies what is the pricing policy if you underperform if you

under price the product you are losing valuable money if you over price you will miss out

on the customers right so you will miss out on the large number of potential customers

who could have purchased your product but now they are not but now they are not there

with you right so that is also very dangerous elasticity of price is extremely important

in the market because again that happens consumers in some cases depends on the type of product

obviously in some products they are very sensitive in some product they are less sensitive.

So if you are in a sensitive product the firm is working in sensitive product and they play

with the price it could be either very positive or it could be negative one can be very careful

so all these needs research all these need data all these needs to be you know one to

see very detailed but any research will only happen when you are very clear what is your

objective right what is your objective and how to move further into that right

okay I think what I can do I this will be my possibly like last slide of today and then

we will may be carried on to that class okay.

So if you can see this is a whole in a holistic way I have tried to show you this is marketing

research and this is the factors that affect uncontrollable factors that affect the marketing

research for example you economic condition the demonetization happened recently and that

affected many companies for example the Bajaj says there is there were heavily affected

because of demonetization people did not have money right okay technology laws and regulations

political factors controllable prices variables are your because it is hands of the company

right they can do a good research and find out what is the optimum value for it.

The groups customer groups are who are involved other consumers employees shareholders suppliers

and all this marketing managers have to look into the segmentation the target market the

programs performs and control so how do you at the end you have to monitor your performance

and to have a control over it right okay thank you so much thanks for the day we will meet

in the next class of marketing research analysis thank you so much.

For Further Details Contact

Coordinator.Educational Technolgy Cell Indian Institute of Technology Roorkee

Roorkee 247 667 E-Mail Etcellitrke@gmail.com etcell@itr.ernet.in

Website: www.itr.ac.in/centers/ETC. www.nptel.ac.in

Production Team Sarath Koovery

Mohan Raj.

S Jithin.

K Pankaj saini

Graphics Binoy.

V.P Camera

Arun.

S

Online Editing Arun.S

Video Editing Arun.S

NPTEL Cooridinator Prof B.K Gandhi

An Educational Technology Cell IIT Roorkee Production