CHAPTER- 4
Research
Methodology
MARKET RESEARCH
Marketing research is a systematic and objective research and analysis of
information relevant to the identification and solution of any problem in the field of
marketing.
The marketing research process beings with the recognition of a marketing related
problem followed by the formation of objective of the study and methodology to be used
to achieve these objectives. This can be clearly understood from the flow chart of
marketing research process.
Defining the problem and research objective
Developing the Research Design
Collection of Data
Analyzing the Data
Research Report Design 31
DEFINING THE PROBLEMS AND RESEARCH OBJECTIVES
The first step calls for the marketing manager and researcher to define the
problems carefully and agree on the research objectives. An old adage says:
“A problem well defined is half solved.”
Problem formational and definition is the heat of the researcher point of view. it
represents translating the management problem into researchers problem. The
researcher must be able to rephrase the problem into meaningful terms from an
analytical point of view.
The company’s aim was to find the market share of the Dr. Flosser. to find its
market share it need information regarding the demand in the market for its product
which formed the problem and objectives for this research work.
DEVELOPING RESEARCH DESIGN.
The second stage of marketing research calls for the developing the most efficient
plan for gathering the needed information.
Designing a research plan calls for decision on data sources, research instruments,
contact method and sampling plan.
METHODS AND PROCEDURE USED
I used the random sampling method to select the sample size.
After thoroughly understanding the research topic of my project, I prepared the
questionnaire which contained those set of questions, the answers of which could help
me in finding out the results.
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For this I approached the retail outlets in Ranchi and asked them to fill the
questionnaires.
I also interviewed many retailers which yielded useful information. The data collected
was then tabulated and interpreted.
DATA COLLECTION TECHNIQUES
Primary data:-
Primary data was collected by taking personal interviews of the various industrial
customers as well as dealers and sub dealers, distributors with the help of well
designed questionnaire.
• Interview- In this method the respondents were approached and they were
questioned.
• Questionnaire- It refers to a set of questions related to the topic of the project.
The respondents are approached directly and were asked to fill in the
questionnaire.
Secondary data:-
Secondary data is collected from different secondary data source namely company
records, book websites, past record, etc., which even facilitate us to collect data.
• Journals
• Books
• Magazines
• Company records
• Internet
Sample
The marketing researcher must design a sampling plan which calls for two decisions.
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1) Sampling unit: how many people should be surveyed?
2) Sampling procedure: how should the respondents be choosen?
Respondents: retailer
Sample size: 180 respondents
Area of research: koker , H.B road, Lalpur chowk, Circular road , Main
road, Chutia, Firayalal chock (Ranchi)
For this project work convenience random sampling was used which is one of
the method in non-probability approach to sampling.
MARKET SURVEY:-
One of the most effective tools of the market research technique is Market survey. We
can know the actual facts and figures regarding. The product through market survey.
Any business organization has to sell its product in the market. The largest share of
market a company has the better its profit margin will be. To increase the market share
the company should come out with a product which best satisfies the customer need.
To find out the customer need and market demand the company should survey the market
and the process is knows as market survey.
Based on this survey the company goes for following function.
1. Market Development Function.
2. Product Development Function.
The Report on over all Marketing activities in Ranchi is based on two different types of
survey:-
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(a) Retailer Survey.
(b) Dealer Survey.
since Retailers/Dealers are supposed to be very close to the consumer. They can know
the choice and taste of a consumer very well.
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