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Market Research

By lavkesh212121 Jan 15, 2013 2111 Words
Bansilal Ramnath Agarwal Charitable Trust’s
VISHWAKARMA INSTITUTE OF TECHNOLOGY, PUNE – 411037.
(An Autonomous Institute under University of Pune)

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Market Research
Department Mechanical Engineering

Faculty In Charge: Prof. Ram Bharsakade

Team Members:

1) Mahesh Pawar (P-16)

2) Madhav Wanave (P-44)

3) Lavkesh Solanki (P-30)

4) Kuldeep Patil (P-13)

Introduction to market research

➢ What is market research?
Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. Market research is an orderly, objective way of learning about people. The people who buy from you or might buy from you. It can provide unbiased answers to questions such as: Who will buy your product? What are the requirements of your customers? What price will they pay for your products? What size of product do they prefer? What are their requirements for shipping that would affect product size and/or shape? Where do they want to be able to buy your products? Are there other types of products they would buy?

➢ Why do market research?
It is impossible to sell people what they don’t want. That is obvious. Just as obvious is the fact that nothing could be simpler than selling people what they do want. Market research is essential in helping you to find out what people want. Market research provides what you need to get sound information about your product, service or market so you can develop good marketing and business strategies.

➢ When should I do market research?
Market research is not a .one time only activity. It needs to be done on an ongoing basis and whenever a major business decision needs to be made. It usually needs to be done:
a) Before starting a new business
b) When introducing a new product or service.
c) To maintain your existing business

➢ Purpose of Market Research
• In the end, market research is about improving the marketing efforts of business organisations • It is used in developing new products and services, entering new markets, finding out about competitors and measuring the impact of promotional activities • Market research is to do with collecting information about consumers and the characteristics of markets • It involves using surveys, polls, focus groups and other methods to gather information

➢ Information Sources
Literature search
• Getting hold of all available material on a particular theme. Material is gathered from: • Internal company information
• Relevant trade literature
• Newspapers
• Magazines
• Firms’ annual reports

Talking to people
Useful in the early stages .Includes meetings with customers and suppliers.It generates opinions and may be unrepresentative of the whole population

Focus groups
These are used to:
• Explore ideas and attitudes
• Test new approaches
• Generate a discussion.

Personal interviews
• Produce in depth information
• Are carried out face-to-face
• Can be very expensive
Usually involve the interviewer asking questions from a written questionnaire or from a list of topics

Telephone surveys
• The fastest way of gathering information, especially from large sample sizes • A prepared script is used as with written questionnaires, but a phone survey allows opinions to be tested further Postal surveys

• Ideal for large sample sizes
• If sample covers wide area
• Generally cost less than telephone interviews
• But take longer to complete
• No interviewer, so less chance of personal bias
• Unable to probe for more detailed information

Market Research Process

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➢ Procedure:
1) Our group consisted of 4 members.
2) Our group discussed on various products available in market and we decided to find out growth of mobile phones in India. 3) Mobile is becoming the dominant means for accessing communications primarily because deploying mobile network is not only more cost-efficient but also mobile provides greater flexibility and convenience to its subscribers than landline telephone. Growth in mobile subscriber base in India

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There has been 25-fold increase in mobile subscriber base in a span of just five years from 2000-01 to 2005-06. During the same period, mobile-density has increased more than 23-fold from 0.35 in 2000-01 to 8.12 in 2005-06.

➢ Conclusion:
At the end of the experiment we understood Market research process and also we gathered information on different products on which research can be carried out.

Defining Problem and Research Objectives

➢ Theory:
In 1908, U.S. Patent 887,357 for a wireless telephone was issued to Nathan B. Stubblefield of Murray, Kentucky. He applied this patent to "cave radio" telephones and not directly to cellular telephony as the term is currently understood.[Cells for mobile phone base stations were invented in 1947 by Bell Labs engineers at AT&T and further developed by Bell Labs during the 1960s. Radiophones have a long and varied history going back to Reginald Fessenden's invention and shore-to-ship demonstration of radio telephony, through the Second World War with military use of radio telephony links and civil services in the 1950s, while hand-held mobile radio devices have been available since 1973. A patent for the first wireless phone as we know today was issued in US Patent Number 3,449,750 to George Sweigert of Euclid, Ohio on June 10, 1969.[pic] In 1945, the zero generation (0G) of mobile telephones was introduced in 1956, the world’s first partly automatic car phone system Mobile System A (MTA)|MTA was launched in Sweden .This is little information about history of mobile phones. Now a days, cell phone has become important gadget in human lifestyle. There are 4 to 5 main companies which proved themselves as brand name in cell phone industry. Nokia, Sony Ericcson, Samsung, LG, Apple etc are main manufacturers. Along with basic functions, recent cell phones also have attractive features like Camera, Bluetooth, Memory to store multimedia, radio etc. Amongst above mentioned cell manufacturers Nokia is leading company. In discussion sessions we decided to carry out research on publicity of Nokia phones and reason behind its success.

➢ Procedure:
1) First we decided to gather general information about various features and popularity of features that are to be taken into consideration while going for actual survey. 2) Our main aim was to reveal reason behind success of Nokia Company as leading company, so from that point of view we defined certain aspects that customer takes into consideration while purchasing cell phone as we observed : Recent achievements of nokia:

1 .Nokia India ranks as most respected company in the Indian customer durables sector in 2009 as per annual survey conducted by business world. India’s leading business magazine. 2. Ranked Asia’s most trusted brand in 2006 by media-synovate survey. The survey was aimed at gauging Asia’s top 1000 brands across 15 product and service categories. 3. Nokia India has been ranked as overall no. 1 telecommunications equipment vendor in the country by Voice & data for 3 yrs 2006-97-08. i. GSM handset market share -72.5%

ii. CDMA handset market share-7.3%
In mobile phone handsets, in Q3/2008, Nokia was the world's largest manufacturer of mobile phones, with a global device market share of 39.4%, followed by Samsung (17.3%), Sony Ericsson (8.6%), Motorola (8.5%) and LG Electronics (7.7%). These manufacturers accounted for over 80% of all mobile phones sold at that time.

OBJECTIVES:
1. To carry out survey about the use of mobile phones in various age groups.

2. Make observations regarding the satisfactory level & expectations of users.

3. Comparison of various mobile manufacturers on the basis of facilities provided by them such s camera, mp3, battery etc.

4. Survey for why nokia is the leading mobile manufacturer in the mobile market.

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The main objective of this study is to analyze the popularity of nokia mobile phones in India to inform the larger discussion of managing the communication services as well as to assist analysts concerned about assessing the impact of public policies in the success of Nokia Company as leader.

➢ Conclusion:
At the end of the experiment we Prepared Statement of Objectives and Identify Core Component of needs have research.

Collection of Secondary Data

➢ Theory:
Secondary data are data that were collected for another purpose and already exist somewhere. We took help of internet to get the statistical secondary data of sales and manufacture of products from their official websites and some from public networking sites. The Internet, or more particularly, the World Wide Web, is now the greatest repository of information the world has seen. In an incredibly short span of time, the Web has become a key tool for sales and marketing professionals to access competitive information or conduct demographic, industry, or customer research.

➢ Sources of Secondary Data:
1) Internal Secondary Data Sources
• Budgets
• Sales figures
• P & L statements
• Accounts receivable and payable
• All prior research
2) External Secondary Data Sources
• Government: Census Data, Department of Labor
• Nongovernment Commercial research organizations, publications such as magazines and books • Internet etc.

➢ Procedure:
1) We collected the secondary data needed for survey.
2) We summarized the data that we got from various web portals. 3) We went through price ranges of various handsets that are available in market.

➢ Summary:

The opinion poll was conducted on Orkut & Face book and following pts were observed:-

- Most of the viewers found nokia phones more user friendly.

- The maintenance free operation was found more prominent.

- Some were sticked to using these phones & found other handsets a bit difficult to operate.

➢ Prices of cell phones available (Secondary Data):

(Obtained from social networking sites)

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These are prices of various cell phones that are available in Indian market. This helped us a lot in preparation of questionnaire.

Important Features of Product (Cell Phones):

➢ Camera

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Mobile phones with camera differ in picture quality / camera clarity.

Camera is an important aspect that customer demands.

➢ Bluetooth Devices:

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Bluetooth Headsets:

• experience high-quality sound with outstanding talk time • enjoy fingertip call control with easy-to-use design • talk in lightweight comfort and style whenever and wherever we need to

➢ Mp3 Players
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• Mp3 player is an important factor that decides success of cell phone • Some companies have designed certain series of cell phones only for those who love music. • Sony Ericsson Walkman series is an example of this.

Collection of Primary Data

➢ Theory:
Now our next aim was to collect primary data. When the needed data do not exist or are dated, inaccurate, incomplete, or unreliable, the researcher will have to collect primary data. Most marketing research projects involve some primary-data collection. The normal procedure is to interview some people individually or in groups to get a sense of how people feel about the topic in question and then develop a formal research instrument, debug it, and carry it into the field. So in order to collect primary data, we decided to carry out public survey. For that we planned to prepare questionnaire.

When stored and used properly, the data collected in the field can form the backbone of later marketing campaigns. Direct marketers such as record clubs, credit-card companies, and catalogue houses have long understood the power of database marketing.

➢ Sources of Primary Data
• Survey: Communicates in person, by phone, by mail, or by Internet, and gathers information from respondents. • Observation: Fresh data can be gathered by observing the relevant actors and settings. Understanding views and notes on consumer behavior. • Experiment: The most scientifically valid research is experimental research. The purpose of experimental research is to capture cause-and-effect relationships by eliminating competing explanations of the observed findings. To the extent that the design and execution of the experiment eliminate alternative hypotheses that might explain the results, the research and marketing managers can have confidence in the conclusions. It calls for selecting matched groups of subjects, subjecting them to different treatments, controlling extraneous variables, and checking whether observed response differences are statistically significant. To the extent that extraneous factors are eliminated or controlled, the observed effects can be related to the variations in the treatments. • Simulation: A computer based method to test variables replicating real-world applications.

The Questionnaire:
It is the instrument which is the collection of questions used to gather information from respondents. It is a data collection method where the person answering the question actually records their own answers. It includes all techniques of data collection in which each person is asked to respond to the same set of questions in a predetermined order.

Questionnaire that we prepared for public survey:
NAME:
MOBILE NUMBER:

1. What is your age group?
a. 20-30 b. 30-35
c. 35-40 d. 40 & above

2: What is the company of your mobile?
a. Nokia b. Sony Erricson c. Samsung d. Motorola e. Other

3. What is cost of your mobile?
a.

Cite This Document

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