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Market Research and Marketing

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- The company was facing losses due to conducting poor market research that did not accurately forecast product demand. - Market research was not done systematically and results ranged from "something" for very good research to "bad" for average or good research. - To address this, alternatives generated included setting up a separate marketing research department, reducing product lines to focus on more profitable products, and conducting market research for each product.

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Case Study-3 Market Research and Marketing Presented By- Ankita
Identification of Problem Facts and Findings Generation of Alternatives Evaluation of Alternatives Situational Analysis Swot Analysis Select the Best 1 2 3 5 6 7 8 Assumptions 4 Table of Contents
Situational Analysis This case study talks about the problems being faced by the corporate management of the multi-product, multi-market manufacturing-cum marketing enterprise in market research. Due to the bad marketing research the management was not able to find out the demand of the product correctly, hence the firm has to suffer the losses. If the market research was conducted at a very good level, thus the result is said to be “Something” but if the market research was conducted at good or average level the result is said to be “Bad”. This showed that marketing research was not conducted in a systematic way. Due to the high competitive market the need for market research arouses. For making any market research effective, market research should be able to establish a deliberate and systematic way to the size of the market. Investment in market research should always be able to produce additional revenue or should reduce cost.
Continue R.I Day in his paper “Optimizing Marketing through Cost Benefit Analysis” were he has outlined various features of using market researching effective way to reduce cost. Another researcher Twedt in his article “the current marketing question” talked about that the return on investment to the post marketing research expenditure has always been useful in increasing the value of market research. He also formulated the formula for the same: Worth or Value of Finding Proportion of Crucial Cases = Return on Investment According to Twedt, this method turned out to be a matter of personnel relations within the company. But there was one limitation associated with such formula which was that if it doesn’t provide basis for setting a budget for future period.
• In this company market research was not conducted in a systematic way due to which the company was not able to forecast the demand of their product correctly. Identification of Problem Identification of Problem Identification of Problem
If the market research is very good then result is “Something” but if the market research is average or good then the result is “Bad”. Return on Investment can be calculated as: Worth or Value of Finding Proportion Of Crucial Cases = Return On Investment 1 2 Facts and Findings Applying the formula of ROI Twedt reported that his company was 351% of the previous year. 3
ASSUMPTION The company does not have proper tools or mechanism for the market research and also they does not have separate committee or the market research department for the same
Strengths • The company is selling multi- products and its multi- manufacturing marketing enterprise. • It is an old company which means its root are strong in market. • Increase in competition. • Increases cost. Threats SWOT Analysis • Not able to forecast the demand • Doesn't have marketing research department. Weaknesses • It is selling multi-products so can cover large area of market. • If market research is conducted properly the company can expand its business in other products. Opportunities
Setting up the separate marketing research department in the organization. Company should reduced the production of its product line and should focus on those products which yield higher profits to the organization. Carrying out market research and survey for every product of the company. 1 2 3 Generation of Alternatives
Setting up the separate marketing research department in the organization. 1. Identify potential Threats and Opportunities. Discover the Competitors Strategy Focus on consumer ‘s needs and demand Minimize the investment Risk. Evaluation of Alternatives
Company should reduced the production of its product line and should focus on those products which yield higher profits to the organization. 2. Difficult for the company to manage different types of products High cost and more resources will be required. Loss of employment opportunities and increase in external risks.
Carrying out market research and surveys for every product of the company. 3 Analyze various factors Better analysis of product • Increase in cost • Constant change in market • Longer duration.
Select the Best 1 Setting up the separate marketing research department in the organization.
Market Research and Marketing

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Market Research and Marketing

  • 1. Case Study-3 Market Research and Marketing Presented By- Ankita
  • 2. Identification of Problem Facts and Findings Generation of Alternatives Evaluation of Alternatives Situational Analysis Swot Analysis Select the Best 1 2 3 5 6 7 8 Assumptions 4 Table of Contents
  • 3. Situational Analysis This case study talks about the problems being faced by the corporate management of the multi-product, multi-market manufacturing-cum marketing enterprise in market research. Due to the bad marketing research the management was not able to find out the demand of the product correctly, hence the firm has to suffer the losses. If the market research was conducted at a very good level, thus the result is said to be “Something” but if the market research was conducted at good or average level the result is said to be “Bad”. This showed that marketing research was not conducted in a systematic way. Due to the high competitive market the need for market research arouses. For making any market research effective, market research should be able to establish a deliberate and systematic way to the size of the market. Investment in market research should always be able to produce additional revenue or should reduce cost.
  • 4. Continue R.I Day in his paper “Optimizing Marketing through Cost Benefit Analysis” were he has outlined various features of using market researching effective way to reduce cost. Another researcher Twedt in his article “the current marketing question” talked about that the return on investment to the post marketing research expenditure has always been useful in increasing the value of market research. He also formulated the formula for the same: Worth or Value of Finding Proportion of Crucial Cases = Return on Investment According to Twedt, this method turned out to be a matter of personnel relations within the company. But there was one limitation associated with such formula which was that if it doesn’t provide basis for setting a budget for future period.
  • 5. • In this company market research was not conducted in a systematic way due to which the company was not able to forecast the demand of their product correctly. Identification of Problem Identification of Problem Identification of Problem
  • 6. If the market research is very good then result is “Something” but if the market research is average or good then the result is “Bad”. Return on Investment can be calculated as: Worth or Value of Finding Proportion Of Crucial Cases = Return On Investment 1 2 Facts and Findings Applying the formula of ROI Twedt reported that his company was 351% of the previous year. 3
  • 7. ASSUMPTION The company does not have proper tools or mechanism for the market research and also they does not have separate committee or the market research department for the same
  • 8. Strengths • The company is selling multi- products and its multi- manufacturing marketing enterprise. • It is an old company which means its root are strong in market. • Increase in competition. • Increases cost. Threats SWOT Analysis • Not able to forecast the demand • Doesn't have marketing research department. Weaknesses • It is selling multi-products so can cover large area of market. • If market research is conducted properly the company can expand its business in other products. Opportunities
  • 9. Setting up the separate marketing research department in the organization. Company should reduced the production of its product line and should focus on those products which yield higher profits to the organization. Carrying out market research and survey for every product of the company. 1 2 3 Generation of Alternatives
  • 10. Setting up the separate marketing research department in the organization. 1. Identify potential Threats and Opportunities. Discover the Competitors Strategy Focus on consumer ‘s needs and demand Minimize the investment Risk. Evaluation of Alternatives
  • 11. Company should reduced the production of its product line and should focus on those products which yield higher profits to the organization. 2. Difficult for the company to manage different types of products High cost and more resources will be required. Loss of employment opportunities and increase in external risks.
  • 12. Carrying out market research and surveys for every product of the company. 3 Analyze various factors Better analysis of product • Increase in cost • Constant change in market • Longer duration.
  • 13. Select the Best 1 Setting up the separate marketing research department in the organization.