Applications of Marketing Research

APPLICATIONS OF MARKETING RESEARCH Following are number of examples on the applications of marketing research.
They clearly bring out how marketing research has been helpful in resolving marketing problems or in identifying opportunities for the development of new products. 1. A pharmaceutical company carried out a study on the prescription behaviour for a major brand on account of its declining sales. The study brought out interesting findings on a number of aspects such as the relationship between the sales and the age of the brand, its regular promotion, its core therapeutic emphasis and the role of retailers in servicing prescription. On the basis of findings of the study, the company changed its marketing strategy. This enabled it to regain the lost market share of its brand. 2. Malayala Manorama, which is Keralas largest publication group, has recently launched a monthly womens magazine in Hindi, Vanita. While launching this magazine, the management observed that it was convinced through market research that there was a huge vacuum in the Hindi magazine segment. This new magazine Vanita has been positioned as a partner and friend that the modern woman can identify with. The first print run of Vanita was one lakh copies. Indications are that within a short time it may become one of the popular Hindi magazines. 3. Cadbury India Limited launched Picnic from its international portfolio in February, 1998. It is wrapped in vibrant colours of red, blue and yellow in conformity with its international packaging. Earlier, Cadbury Indian Limited commissioned a consumer researchstudy in Mumbai. The results of this study were encouraging and showed that the Indian youth is always interested in experimenting with new food options. 4. Procter and Gamble (P&G) launched Menthol, an international vibrant of Head & Shoulders. This joins the extra- conditioning anti-dandruff shampoo of the same brand. The company conducted a market research study prior to its launch. The findings of the study indicated a distinct need for a menthol-based shampoo. The study showed that in hot and humid conditions as in India, consumers prefer a shampoo which not only removes dandruff but also provides a cool and tingling sensation to the scalp.
5. Another example from P&G shows how marketing research is used to identify new opportunities in the marketplace. The company was getting a lot of data on Vicks-Vaporub. The analysis of such data revealed that the most common symptom of cold was a headache and that majority of adults typically take a pill to cure it. This disclosed an opportunity for a product that can treat the headache as well as the other symptoms. The company thus launched Action 500. It not only treated headache but also gave relief from blocked nose. Marketing research can therefore lead to the development of a new product. 6. Pepsi Foods has assigned great importance to marketing research. Through research it gets systematic information about its markets and its customers. All its research is done by the IMRB. Broadly, research studies done for Pepsi Foods fall in the following three areas: (i) Studies undertaken on a continuous basis like marketing tracking studies and retail audits. (ii) Studies are from time to time as per the requirement of the company such as a study to ascertain the effectiveness of an ad campaign. All these types of research studies have tremendously helped Pepsi Foods to strengthen its position in the market. It feels the pulse of the market and is always in touch with the latest developments in the market. 7. Another mu1tinational company Whirlpool Asia lays considerable emphasis on marketing research. In this company, every activity, strategy and decision is based on data collected through the research process. It believes in planning research in advance though it is rather difficult. It strives to have a meaningful dialogue with the consumer in order to know his real opinion about its products, what difficulties he experiences and what suggestions he has to offer. Information thus received proves to be quite useful to the company in modifying its products or in evolving new ones. Whirlpool has gained an insight into the various segments in the market. In India, it has segmented the market on the basis of the different stages of the product life cycle.
Decisions like which size of refrigerator should be put in the market or what should be the price of a particular model are based on research. Marketing and Research Group (MARG) has been the main marketing research agency for Whirlpool.

Applications of Marketing Research

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APPLICATIONS OF MARKETING RESEARCH Following are number of examples on the applications of marketing research.

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