IMR PRESENTATION__2003 FORMAT

Methodology Of Product Research : 

Methodology Of Product Research

Marketing research : 

Marketing research Market research is the process of systematic gathering, recording and analyzing data about customers, competitors and the market. And the process of doing marketing research in different nations is said to be International Marketing Research.

Role of International Marketing Research : 

Role of International Marketing Research International marketing research plays an important role in the identification of threats and opportunities and development of a company’s strategies for globalization. It enables a business to identify, evaluate and compare potential foreign market opportunities and develop a marketing plan. Research also provides a company with foreign market intelligence to help it anticipate events, take appropriate action, and prepare for global changes.

Steps Of Doing Marketing Research : 

Steps Of Doing Marketing Research COMPETITOR ANALYSIS OVERALL MARKET ANALYSIS END USER/CUSTOMER ANALYSIS ENVIRONMENTAL ANALYSIS FORMULATING MARKETING STRATEGIES

COMPETITOR ANALYSIS : 

COMPETITOR ANALYSIS Product range Product’s price positioning Years of existence in the market Competitor’s target market Competition growth rate SWOT Analyses

SWOT ANALYSIS : 

SWOT ANALYSIS Internal Scan People (Human Resources) Properties (Buildings, Equipments and other facilities) Processes (Technology, R&D, M.I.S etc.) Products External Scan Social factors Technological factors Economic factors Environmental factors Political factors

OVERALL MARKET ANALYSIS : 

OVERALL MARKET ANALYSIS Overall market Size Growth of Total Market Addressable Market

END USER/CUSTOMER ANALYSIS : 

END USER/CUSTOMER ANALYSIS METHOD Telephone interviews based on standard questionnaires. Case studies are carried out as in-depth interviews - most often face-to-face. Focus Groups Discussions. ANALYSIS Lifestyle Brand Awareness Purchase behaviour Perception of brands Price sensitivity Preference

ENVIRONMENTAL ANALYSIS : 

ENVIRONMENTAL ANALYSIS METHODS Ad-hoc scanning Regular scanning Continuous scanning ANALYSIS Indicators of the economy Government stability and policies Technology and infrastructure Socio-cultural factors Environmental Laws

MARKETING STRATEGIES : 

MARKETING STRATEGIES

COUNTRY SPECIFIC PRODUCT : 

COUNTRY SPECIFIC PRODUCT CULTURAL DIFFERENCES Language Religion Traditions Images Symbols Roles in the family Colour GUIDELINES Develop cultural empathy Be culturally neutral and realize that different is not necessarily better or worse Never assume transferability of a concept from one culture to another Get cultural informants involved into the decision-makings.

LOCATION ANALYSIS : 

LOCATION ANALYSIS STEPS: Define critical project drivers Develop selection criteria Conduct location selection

TARGET MARKET : 

TARGET MARKET Check out your competition Analyze your product/service Consider the psychographics of your target audience

POSITIONING : 

POSITIONING Define the segments in a particular market. Decide which segments to target. Understand what the target consumers expect and believe to be the most important considerations when deciding on the purchase. Develop a product (or products) that caters specifically for these needs and expectations. Evaluate the positioning and images, as perceived by the target customers, of competing products in the selected market segments. Select an image that sets the product apart from the competing products, thus ensuring that the chosen image matches the aspirations of the target customers. Inform target customers about the product (promotion).

PRODUCT PORTFOLIO : 

PRODUCT PORTFOLIO The BCG matrix method determines product portfolio of a business  unit. 1.Question Marks (= high growth, low market share) 2. Stars (=high growth, high market share)3. Cash Cows (=low growth, high market share)4. Dogs (=low growth, low market share)

THANK YOU : 

THANK YOU Prepared by:- Section IM-1 Debaditya Deepak Virmani Nakshatra Renubala Rajesh Ranjan Sanjeev Sachit Chawla Shivprasad Chauhan Tajinder Pal Singh Puri