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MM II 2014 MR N

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MM II 2014 MR N
10-12-2013

Introduction to MR

Agenda


MR Industry – Overview



Why MR? Why is it Important?



MR – Easier or Tougher now?



MR Defined



Steps in the MR process


Defining Management Decision Problem



Defining Marketing Research Problem

1

10-12-2013

Why MR? . . .


Marketing management is all about making decisions relating to 4 Ps, STP and issues like market entry



For any decision-making, information is vital



MR provides managers this info


Without this, managers will go by hunches



Does this happen now?



“In God we trust, for the rest we need data”

Why MR? . . .


Without MR, it is impossible to get certain insights which may be crucial






Managers take better informed decisions

It would be foolish/arrogant to take decisions without MR


ITC & Lintas set up “Bharat Barometer” to study rural consumers



Rural India is tough to know and the e-Choupals help ITC here

P&G actually tests their detergents with water from 150 different countries!

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10-12-2013

MR – Easier or Tougher now?


Certainly easier now



Many consumers own cell phones, phones, cars, bikes, club memberships 



Meaning what?

Also, companies nowadays no longer see MR as a waste of money 

First budget to be cut in a recession



Now they see it as a necessary investment

MR – Easier or Tougher now?


However, consumer apathy has grown


Widespread disinterest and downright lying e.g. voter opinion polls





Prannoy Roy in 1984 started them

Oftentimes, time is a constraint


HLL had how much time to react to P&G’s price cut? MR possible? 



Cavin Kare promos

Also, small companies lack the resources as MR is expensive

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10-12-2013

MR Defined


So what is MR?

MR Defined


Marketing Research Defined


The systematic and objective process of generating information for aid in making marketing decisions



Note that it is “systematic” and “objective”



It is thus different from Marketing Intelligence


What is this?

4

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