MS 66 Free Solved Assignment
MS 66 Free Solved Assignment July 2021 & Jan 2022
a) Explain the meaning and importance of marketing research in the decision making process. Illustrate.
Ans:- Operationally speaking, marketing research is defined as the objective and formal process of collecting information; analyzing the results and communicating the findings and their implications in terms of marketing actions.
However, some further comments about this definition are essential. Marketing research is a systematic collection and analysis of information that is ultimately used in evolving some marketing decisions.
All stages of a research study must be carried out in a logical manner.
For instance, one should, start with a concise statement of the issues to be investigated; indicate the information required to study those select problems; define the methods to be adopted to collect those data; MS 66 Free Solved Assignment
specify the relevant technique to be employed for analysing the data; and finally state the research findings and their specific implications for marketing decisions making.
Note that this definition indicates that marketing research should be conducted for specific issues.
Secondly, it must ensure objectivity in every step. Finally, study findings must help the manager in the decision-making.
In other words, marketing research must not be mere collection of statistical information, One must justify the choice of the methodology of data collection and analysis.
And, the researcher must not be too much pre-occupied with techniques but instead convey the meaning of the results in the marketing language even when some advanced or sophisticated tool is being used.
Likewise, the marketing manager(s) should also provide a clear, detailed scenario of the problems faced by the company before the marketing researchers (s).
They must allow adequate time and budget for conducting the study. They must not use marketing research as a fire fighting device or justify some preconceived action(s).
Marketing research is the function that likes the consumer with the organization through information. It involves the systematic and objective search for and analysis of information that, can be used for evolving some marketing decisions.
Any research study must clearly state the issues being investigated. It must apply systematic and formal procedures in the collection and analysis of information.
It must communicate the study findings in a manner which could help in arriving at some marketing decisions. MS 66 Free Solved Assignment
A research study ‘will fail to serve its purpose if the marketing researcher merely collates some statistical facts or is preoccupied with techniques or uses data of questionable validity or communicates the findings in too much vague or technical language.
Likewise, a research study will suffer if the marketing manager does not offer the full perspective of the research problem; or allows inadequate time; or uses research as a fire-fighting device, or does not really appreciate the value of research.
The problem must be clearly defined and reasons for undertaking the research from the point of view of marketing decision making should be explicitly justified.
In order to carry out the effective research program
1 Prepare a list of objectives to be examined
2 Avoid − Vague terms of reference − Trivial research projects − Research where the underlying purpose is unknown or withheld.
3 Ensure concurrence about the terms of references (especially research objectives; plan of data collection, time, and budget) among all concerned.
Situation analysis, strategy development, marketing program development, and implementation are the four stages that help decision-making in the market planning process. MS 66 Free Solved Assignment
During each stage, marketing research gives a major present for clarifying and diagnosing issues and then selecting among decision alternatives.
Marketing research is not an instantaneous or an obvious way for finding solutions to all managerial problems in organization.
A manager who is facing with a particular problem should not blindly go for conducting a marketing research to find a solution to the problem, several factors to be considered before ordering marketing research.
Sometimes it is better not to perform marketing research. Hence, the central decision to be made is whether to do or don’t do market research is called for in a specific situation.
Factors that influence initial decision are as follows:
Type and Nature of Information Sought
Availability of scarce Resources
Even though research is performed to generate information, but managers will not readily use the information to solve their issues.
The factors that influence a manager’s decision to use research output are quality of research, conformity to prior expectations, presentation clarity, political acceptability within the firm, and challenge to the status quo.
But make a note that researchers and managers agree that only the technical quality of research is the key determinant of research use.
Also, managers are less favorable to utilize research that does not conform to prior belief or is not politically acceptable. MS 66 Free Solved Assignment
Some researchers state that the use of information and data is a function of the direct and indirect effects of environmental, informational, organizational, and individual factors.
However, a researcher should not manipulate the findings to match a manager’s prior belief. Further, managers in consumer firms are less likely to utilize research findings than their peer in industrial firms.
This is due to a higher exploratory objective in data gathering, a greater interest of formal organizational structure, and a lesser interest of surprise in the data gathering.
Ethics defines the moral principles or values that generally regulate the conduct of an individual or group.
b) What are the two methods of conducting marketing research that firms can consider? Discuss the problems/ challenges that firms face in conducting marketing research in India.
Ans:- Primary research looks at any data you collect yourself (or someone you pay). It encompasses analyzing current sales, metrics, and customers. It also takes into account the effectiveness of current practices, while taking competitors into account.
Secondary research looks at data that has already been published by others. It includes reports and studies from other companies, government organizations, and others in your industry MS 66 Free Solved Assignment
Individual ‘Depth’ or ‘Intensive’ Interviews The in-depth interviews could be classified as:
Semi-structured or focussed interview.
In a non-directive intend:– v, the respondent is given maximum freedom to respond in a manner that he wishes to, within a reasonable limit of relevancy to the topic under discussion.
However, the interviewer retains the initiative in the interview process, else the focus of the interview would be lost.
Thus, with this technique, the respondent is given a chance to freely express his ideas and thoughts, which acts as important feedback to the company regarding the company’s’ products/service.
In a semi-structured or focussed interview, the initiative is retained by the interviewer, and the interview has to cover a specific list of points, which has been decided in advance.
There is also a tighter control over the interview, in order to maximize data collection and also collect data relevant to the topic under consideration. The interviewer also has determined as to which questions are to be asked.
The best example to highlight this interview process is the chat shows that take place on television. MS 66 Free Solved Assignment
Even though the participant(s) is/are given maximum freedom with respect to his/her answers, the initiative is retained by the interviewer, and he/she has decided in advance the questions that would be asked in the e. nurse of the interview.
In-depth interviews are appropriate in the following situations:
1) When detailed probing of an individual’s behavior, attitude, and needs is required.
2) When-the subject matter-is of a highly confidential nature (e.g., how do you plan your investments: required for annual tax planning).
3) When the subject matter is an emotionally charged one or of an embarrassing nature (e.g., how do you spend when you go on a date).
4) When a step-by-step understanding is required of complicated decision making (e.g., how does a family plan its holiday – selection of vacation site, mode of travel and stay places, or how does a family decide when purchasing a house – which is normally a lifetime decision).
5) When interviews are conducted with highly qualified professionals (e.g., surgeous – on the usage/problems with various medical equipments), a normal questionnaire would not suffice for getting information, and a detailed probing is required which would come out only through an in-depth interview.
6) When a respondent may not be able to express his/her true feelings in a group discussion: Very often in a group discussion, a few aggressive people tend to dominate the discussion, hardly giving an opportunity to others in the group to express their views.
To avoid such a situation, a researcher may decide to conduct an in-depth interview instead of a group discussion. MS 66 Free Solved Assignment
Also, when the topic of the group discussion is of a personal nature and socially embarrassing, people in the group would tend to conform to the views of the overall group, rather than express their own individual ideas.
Top challenges facing market researchers
- Existing Market Research Methodology
An overwhelming amount of data makes it difficult to separate out from noise. More than 500 websites are being added to the internet space every day.
Manually scanning through the data is cumbersome and tough. Many existing techniques to juggle around add to the challenge of getting the right data.
The data being collated manually has a risk of being of poor quality. With volume of data collated increasing manual errors due to human fatigue can seep in.
When the collated data is of poor quality, the insights into the mined data stand a high risk of being of bad quality as well.
3.Research Outcomes (For clients)
The expectations of clients are increasing due to the complex business dynamics. Clients expect actionable insights from market research companies, which can help them take quick informed business decisions.
Insightful strategic reports delivered within stipulated timelines is becoming an increasing challenge for market research companies globally.
- Differentiate from your competitors
It’s becoming an increasing challenge for a market researcher to demonstrate unique value and novel contribution in Market Research approaches.
The standard market research methodologies followed by most of market research companies don’t help them stand apart from the crowd. Staying relevant with changing technology times is of prime concern now. MS 66 Free Solved Assignment
With the advent of BIG DATA and analytics, cutting-edge techniques should be adopted by market research companies to stay ahead of the competition.
Also, the need of the hour is to avoid commodification of the market research projects (which includes reports, surveys etc.).
2 a) What is research design? Explain the concept and importance of research design in the context of marketing research problem.
Ans:- Marketing research exercise may take many forms but the systematic inquiry is feature common to all such forms. Being a systematic inquiry it requires careful planning of the orderly investigation process. MS 66 Free Solved Assignment
The research design is a comprehensive master plan of the research study to be undertaken, giving a general statement of the methods to be used.
The function of a research design is to ensure that requisite data in accordance with the problem at hand is collected accurately and economically.
Simply stated, it is the framework, a blueprint for the research study which guides the collection and analysis of data.
The research design, depending upon the needs of the researcher may be a very detailed statement or only furnish the minimum information required for planning the research project. MS 66 Free Solved Assignment
To be effective, a research design should furnish at least the following details.
a) A statement of objectives of the study or the research output.
b) A statement of the data inputs required on the basis of which the research problem is to be solved.
c) The methods of analysis which shall be used to treat and analyse the data inputs.
There are four types of research designs which are broadly classified as:
1) Exploratory Designs
3) Quasi-Experimental Designs
4) Experimental Designs
Concepts Relating To Research Design
- Dependent and independent variables:
A concept that can take on different quantitative values is called a variable. As such the concepts like weight, height, income are all examples of variables.
Qualitative phenomena (or the attributes) are also quantified on the basis of the presence or absence of the concerning attribute(s). MS 66 Free Solved Assignment
Phenomena that can take on quantitatively different values even in decimal points are called ‘continuous variables’. * But all variables are not continuous.
If they can only be expressed in integer values, they are non-continuous variables or in statistical language’ discrete variables ‘. ** Age is an example of a continuous variable, but the number of children is an example of a noncontinuous variable.
If one variable depends upon or is a consequence of the other variable, it is termed as a dependent variable, and the variable that is antecedent to the dependent variable is termed as an independent variable.
For instance, if we say that height depends upon age, then height is a dependent variable and age is an independent variable.
Further, if in addition to being dependent upon age, height ~so depends upon the individual’s sex, then the height is a dependent variable and age and sex are independent variables.
Similarly, readymade fil1 and lectures are examples of independent variables, whereas behavioral changes, occurring as a result of the environmental manipulations, are examples of dependent variables. MS 66 Free Solved Assignment
- Extraneous variable:
Independent variables that are not related to the purpose of the study, but may affect the dependent variable are termed extraneous variables.
Suppose the researcher wants to test the hypothesis that there is a relationship between children’s gains in social studies achievement and their self-concepts.
In this case self-concept is an independent variable and social studies achievement is a dependent variable.
Intelligence may as well affect social studies achievement, but since it is not related to the purpose of the study undertaken by the researcher, it will be termed as an extraneous variable.
Whatever effect is noticed on the dependent variable as a result of extraneous variable(s) is technically described as an ‘experimental error’.
A study must always be so designed that the effect upon the dependent variable is attributed entirely to the independent variable( s), and not to some extraneous variable or variables.
One important characteristic of a good research design is to minimise the influence or effect of extraneous variable(s). MS 66 Free Solved Assignment
The technical term ‘control’ is used when we design the study minimising the effects of extraneous independent variables. In experimental researches, the term ‘control’ is used to refer to restrain experimental conditions.
- Confounded Relationship:
When the dependent variable is not free from the influence of extraneous variable(s), the relationship between the dependent and independent variables is said to be confounded by an extraneous variable(s).
hypothesis when a prediction or a hypothesised relationship is to be tested by scientific methods, it is termed as research hypothesis.
The research hypothesis is a predictive statement that relates an independent variable to a dependent variable. Usually a research hypothesis must contain, at least, one independent and one dependent variable. MS 66 Free Solved Assignment
Predictive statements which are not to be objectively verified or the relationships that are assumed but not to be tested are not termed research hypotheses.
- Experimental and non-experimental hypothesis-testing research:
When the purpose of research is to test a research hypothesis, it is termed as hypothesis-testing research. It can be of the experimental design or of the non-experimental design.
Research in which the independent variable is manipulated is termed ‘experimental hypothesis-testing research’ and research in which an independent variable is not manipulated is called ‘nonexperimental hypothesis-testing research’.
For instance, suppose a researcher wants to study whether intelligence affects reading ability for a group
b) Explain the term data collection. Discuss the different types of data needed for marketing research. Evaluate the merits and demerits of each type of data.
Ans:- Once the research objectives have been defined the next logical step is to identify the nature and type of information needed to achieve these objectives.
Fig. 1 below represents the initial steps in the research process with emphasis upon the types of data sources and options available to the researcher,
The research objectives define the type and extent of information needed to achieve the research objectives – the data needs are further clarified by the type of research design chosen as well as by the nature of research e.g. whether the problem at hand is that of exploratory or preliminary research or causal and conclusive research and so on.
All data sources available to the researcher can be classified as either secondary or primary. Secondary data are already published data collected for purposes other than the research problem at hand. MS 66 Free Solved Assignment
Primary data are those generated specifically for the purposes ‘ of the research problem in question.
Types of Data
As you have already noted there are two general types of data – Primary and Secondary classified on the basis of purpose of collection or source.
Primary data are those that are collected specifically for the research situation at hand. Conversely, secondary data are already published data collected for purposes other than the specific research needs at hand.
On the basis of location of sources, secondary data may again be classified as internal or external data..
The data originating within or available within the organisation as a byproduct of the MIS or the routine reporting system is called internal data of any given marketing research problem, initial data collected for purposes other than that specific problem could be termed internal secondary data.
Secondary data generated outside the organisation is termed external secondary data and can be collected from a multitude of sources like government publication, trade association publications, official reports, journals and periodicals and publication of marketing research agencies.
Secondary data can &ISO be thought from research agencies though this is a fairly expensive proposition.
Secondary data may also be classified on the basis of whether it is periodic data or ‘ adhoc data.
Periodic data characterises most statistics collected over fixed periods of time like the census data, data from statistical abstracts of trade and other sector’s, price indices and so on.
Adhoc data, on the other hand, refers to the data obtained from a certain project report. Such data necessitates an external search to find the source from,, which the data can be availed of.
SECONDARY DATA- NEED AND USAGE
a) You want to estimate the total market potential of thermocol packaging cases in the country.
b) Being a manufacturer of television sets, you want to develop a national method for establishing sales quota statewise.
c) As a person making automobile batteries, you want to estimate the potential market for battery replacements as well as develop methods for the determination of countrywide, statewide and districtwise sales quotas.
d) You would like to predict the potential sales of paper and allied products to wholesaler and retailer, for the year 1991.
e) You are required to select a city in Western Maharashtra to locate another distribution centre for the spare parts of your two-wheeler products.
f) You are interested in allocating your sales promotion budget in proportion to the potential markets, statewise in the northern pan of India.
The type of secondary data required to Meet some of the above research objectives would be population data, estimates of total television sales, statewise, number of households with televisions per capita income estimates, distribution of income statistics.
Number of registrations, number of households without cars, value of box shipments by end use and so on.
You have read about the various kind of research designs in the preceding unit. With the type of research design chosen need and use of secondary data differ.
3 a) With suitable examples discuss briefly the various methods of probability sampling that is available for a researcher.
Ans:- Probability Sampling Methods: In probability sampling methods every element of the population has a known chance of being selected. Please note that the term known chance does not mean equal chance.
Equal chance probability sampling is a special case of probability sampling, called simple random sampling. In probability sampling methods, there is no chance of arbitrary or biased selection and therefore the laws of probability apply.
Therefore, it permits us to measure the sampling error which is the difference between the population value and the sample, value.
There are a number of different sampling procedures that fall under probability sampling methods. Some of these methods are listed as under:
1) Simple Random Sampling
2) Systematic Sampling
3) Stratified Sampling
4) Cluster Sampling
1) Simple Random Sampling: Under this sampling design, each member of the population has known and equal probability of being included in the sample.
For details on now to draw samples using this sampling procedure. marketing research because of the following reasons.
i) In consumer research studies, we usually select individuals, households, shops or areas as the sampling units.
It may not be easy to prepare a sampling frame as it is very difficult to get lists of households, individuals and shops, although areas may be completely represented through maps.
ii) We know that an industry comprises of various firms of different sizes. If one wants to study some aspects of an industry, one might like to choose a sampling design where there is a higher probability of a larger firm being selected.
If that is the case, the very concept of simple random sampling becomes inapplicable in such situations.
The simple random sampling has some applications in Industrial Marketing where generally purchasing agents or companies or areas are the sampling units which are usually not very big in number.
Therefore, it becomes easy to prepare a sampling frame thus facilitating the use of simple random sampling.
2) Systematic Sampling: The mechanics of taking a systematic sample are very simple. Suppose the population consists of ordered N units (numbered from 1 to N) and a sample of size n is selected from the population in such a way that N =K
(rounded to the. nearest integer).
Here K is called a sample interval. Systematic sampling then consists in selecting a number at random between 1 and K (both inclusive) and then selecting every subsequent Kth unit till a sample of size n is obtained.
To make the above more clear, let us assume that we have an ordered population of size N=500. Suppose it is decided to take a sample a size n=50.
Therefore, our sampling interval would be 500 10 50 N n = = We then select a number at random between 1 to 10 (both inclusive) Suppose it turns out to be 6. Then our sample units would be 6,16, 26, 36 and so on.
Systematic sampling is a case of mixed sampling where both probabilistic and nonprobabilistic methods of choosing a sample are used.
This is because the first unit of the sample is selected at random between numbers 1 and K (probabilistic method) and then the rests of the units of the sample are fixed by the choice of the first member (non-probabilistic method).
It is very likely that systematic sampling would result into more representative sample than simple random sampling.
In systematic sampling the elements of the population are ordered in a particular fashion. Suppose we want to estimate the sales of all the retail stores in Delhi.
Under a simple random sampling, if we draw a random sample of size n, it is very likely that Most of the sampled stores might turn out to be low sales volume stores.
However, in systematic sampling we order these retail stores according to ascending or descending order of sales, therefore, a systematic sample would definitely contain some low volume and high volume retail stores.
Thus, a systematic sample is likely to be more representative than a sample random sample.
3) Stratified Sampling: In stratified sampling, the entire population is divided into various mutually exclusive and collectively exhaustive strata (groups).
By mutually, exclusive it is meant that if an element of a group belongs to one strata, then it doesn’t belong to any other strata.
By collectively exhaustive we mean that all the elements of various strata put together completely cover all the elements of the population.
The groups (strata) are created on the basis of a variable (criteria) known to be correlated with the variable under study.
The possible criteria for stratification of a population could be income of the individuals, age, sex, frequency of a purchase of a product, size of the household, size of the retail store, region of the country mid so on.
The stratification is also possible on the basis of more than one variable. This, of course, increases the number of stratum. :he cost of stratification may come as a constraint in increasing the number of grout_ (stratum).
A variable which is considered to be good in stratification of one population may not be so in the case of other.
However, one thing should be kept in mind that stratification should be done in such a way so as to minimise the variability among sampling unit within strata (more homogeneous) and maximize the variability among strata (more heterogeneous).
4) Cluster Sampling: If we divide all the elements of the population into suitable, clusters; and select few clusters randomly and all the elements of the selected clusters are used, then this method of sampling is called cluster sampling’.
This method of collecting data is cheaper since collection of data fear nearby units is easier, faster and more convenient than collecting data over units scattered over a region.
For instance, it would not only be cheaper but also convenient to collect data on all households in a sample of few villages.(clusters) than to surrey a sample of the same number of households selected randomly from a list of all households.
b) When and why the four types of attitudinal scales are used in marketing research. Explain each of these scales with suitable examples.
1) Nominal Scale 2) Ordinal Scale 3) Interval Scale 4) Ratio Scale
- Nominal Scale
This is a very simple scale. It consists of assignment of facts/choices to various alternative categories which are usually exhaustive as well mutually exclusive. These scales are just numerical and are the least restrictive of all the scales.
Instances of Nominal Scale are – credit card numbers, bank account numbers, employee id numbers etc. It is simple and widely used when the relationship between two variables is to be studied.
In a Nominal Scale numbers are no more than labels and are used specifically to identify different categories of responses. Following example illustrates –
What is your gender?
[ ] Male
[ ] Female
Another example is – a survey of retail stores done on two dimensions – way of maintaining stocks and daily turnover.
How do you stock items at present?
[ ] By product category
[ ] At a centralized store
[ ] Department wise
[ ] Single warehouse
Daily turnover of consumer is?
[ ] Between 100 – 200
[ ] Between 200 – 300
[ ] Above 300
- Ordinal Scale
Ordinal scales are the simplest attitude measuring scale used in Marketing Research. It is more powerful than a nominal scale in that the numbers possess the property of rank order.
The ranking of certain product attributes/benefits as deemed important by the respondents is obtained through the scale.
Example 1: Rank the following attributes (1 – 5), on their importance in a microwave oven.
The most important attribute is ranked 1 by the respondents and the least important is ranked 5.
Instead of numbers, letters or symbols too can be used to rate in a ordinal scale. Such scale makes no attempt to measure the degree of favourability of different rankings.
Example 2 – If there are 4 different types of fertilizers and if they are ordered on the basis of quality as Grade A, Grade B, Grade C, Grade D is again an Ordinal Scale.
3 Interval Scale
Herein the distance between the various categories unlike in Nominal, or numbers unlike in Ordinal, are equal in case of Interval Scales.
The Interval Scales are also termed as Rating Scales. An Interval Scale has an arbitrary Zero point with further numbers placed at equal intervals. A very good example of Interval Scale is a Thermometer.
Illustration 1 – How do you rate your present refrigerator for the following qualities.
Company Name Less Known 1 2 3 4 5 Well Known
Functions Few 1 2 3 4 5 Many
Price Low 1 2 3 4 5 High
Design Poor 1 2 3 4 5 Good
Overall Satisfaction Very Dis-Satisfied 1 2 3 4 5 Very Satisfied
- Ratio Scale
Ratio Scales are not widely used in Marketing Research unless a base item is made available for comparison.
In the above example of Interval scale, a score of 4 in one quality does not necessarily mean that the respondent is twice more satisfied than the respondent who marks 2 on the scale.
A Ratio scale has a natural zero point and further numbers are placed at equally appearing intervals.
For example scales for measuring physical quantities like – length, weight, etc.
The ratio scales are very common in physical scenarios. Quantified responses forming a ratio scale analytically are the most versatile.
Rati scale possess all he characteristics of an internal scale, and the ratios of the numbers on these scales have meaningful interpretations.
Data on certain demographic or descriptive attributes, if they are obtained through open-ended questions, will have ratio-scale properties. Consider the following questions :
What is your annual income before taxes? __ $
How far is the Theater from your home ? __ miles
4 a) In what situations Qualitative and Qualitative research is used? Discuss with suitable examples.
Quantitative research Qualitative Research
Focuses on testing theories and hypotheses Focuses on exploring ideas and formulating a theory or hypothesis
Analyzed through math and statistical analysis Analyzed by summarizing, categorizing and interpreting
Mainly expressed in numbers, graphs and tables Mainly expressed in words
Requires many respondents Requires few respondents
Closed (multiple choice) questions Open-ended questions
Key terms: testing, measurement, objectivity, replicability
Key terms: understanding, context, complexity, subjectivity
Data collection methods
Quantitative and qualitative data can be collected using various methods. It is important to use a data collection method that will help answer your research question(s).
Many data collection methods can be either qualitative or quantitative. For example, in surveys, observations or case studies, your data can be represented as numbers (e.g. using rating scales or counting frequencies) or as words (e.g. with open-ended questions or descriptions of what you observe).
However, some methods are more commonly used in one type or the other.
Quantitative data collection methods
Surveys: List of closed or multiple choice questions that is distributed to a sample (online, in person, or over the phone).
Experiments: Situation in which variables are controlled and manipulated to establish cause-and-effect relationships.
Observations: Observing subjects in a natural environment where variables can’t be controlled. Qualitative data collection methods
Interviews: Asking open-ended questions verbally to respondents.
Focus groups: Discussion among a group of people about a topic to gather opinions that can be used for further research.
Ethnography: Participating in a community or organization for an extended period of time to closely observe culture and behavior.
Literature review: Survey of published works by other authors.
b) Write an essay on the application areas of marketing research in India.
Ans: – 1. Product Research
Marketing research may be used in the area of product planning and development like, to evaluate new product ideas, to evaluate the need to change existing product mix, for testing the new product acceptance, testing product positioning, package testing in terms of aesthetic appeal, protection for the product, and Ability to withstand transportation and stocking.
It comprises the study of product design, features, quality, brand tracking, brand preferences, product lines, and rationalization of product lines.
- Advertising Research
Marketing research may be used in many ways in the area of advertising. It may be used for copy testing.
Marketing research may be used to examine the important element of advertising copy like the basic theme, ideas, appeals, headlines, assessment of its attention value, communication clarity, memory value, conviction value, etc.
- Distribution Research
The broad areas of distribution research include identification of existing and potential distribution channels, selection of appropriate intermediaries, determination of channel Expectations, reduction of distribution cost, motivation for channels of distribution, measuring and evaluating the performance of the channels and different intermediaries, measuring relative effectiveness of different channels, assessment of dealer support and reason of conflict.
- Pricing Research
The objective of this research is to find out the price Expectations of consumers and their reactions and responses to different price levels of products to ascertain elasticity of demand.
- Consumer Research
Consumer research deals with a variety of questions about consumer characteristics and behavior.
The basic purpose of this research is to develop a better understanding of its customers by the company. MS 66 Free Solved Assignment
Consumer research may be conducted by the company to determine the composition of the product’s customers, to find out the locations of customers, to determine demographic characteristics of present and potential customers, to determine psychographic characteristics of consumers, to identify buying motives, to know consumption pattern of consumers, reasons of consumers dissatisfaction, shifting consumption pattern, brand preferences and for preparing consumer profile.
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