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MARKETING & RESEARCH

Finding Total Solutions

Product identification & Development

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AASTIC MARKETING RESEARCH 

OBJECTIVES

  • To provide project management process inputs to micro and small Industrial businesses in countryside.

  • Undertake comprehensive, systematic, and independent examination of an area-based marketing environment

  • Identify objectives, strategies and activities with a view to determine problem areas and opportunities

  • Recommend a plan of action to organize setup of the socio economically feasible project.

 

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BASE STUDY

 A set of socio-economic environmental components relevant to Client Entrepreneur is examined. The audit components set are comprehensive. Only those components which would be important to understanding and evaluating the client’s business objectives are chosen. The goal is to use the information gained in the audit to lead to important findings and recommendations.

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OUR APPROACH

We begin product identification process with classification of product wise marketing activities in broad types. The aim is to score a product’s performance on each of these activities on a percentage scale, distinguishing various performance levels. The next step is to assess which of these activities are most important, are of medium and least importance to the Entrepreneur to perform well and prioritize all those activities which need attention. Action points are recommended thereafter the detail project report.

The local resource based major economic activities are identified judged by a set of questions that will be answered backed by hard data in the form of documents, plans and transcripts.

 

 

KEY DECISION AREAS

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MARKETING AUDIT

Identifying new business opportunities

Demand estimation and forecasting

Identifying demand gaps and niche markets

Export market identification and export potential studies

Techno economic feasibility studies

Measurement of customer expectation and satisfaction

Analysis of consumer behaviour, pricing and packaging as well as buying attitudes

Employee training initiatives

Pre & post advertising research, focus group discussions

Corporate image studies

Investigating client strengths and realigning them to meet the requirements of the market

Research involving dealers, end users and potential customers

Price sensitivity analysis

Direct mailing, telemarketing, event management, dealer promotion


 

Six Steps we take Step 1: Problem Definition The first step in any marketing research project is to define the problem. In defining the problem, we  into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making. Problem definition involves discussion with the decision makers, interviews with industry experts, analysis of secondary data, and, perhaps, some qualitative research, such as focus groups. Once the problem has been precisely defined, the research is designed and conducted properly. Step 2: Development of an Approach to the Problem Development of an approach to the problem includes formulating an objective or theoretical framework, analytical models, research questions, hypotheses, and identifying characteristics or factors that can influence the research design. This process is guided by discussions with management and industry experts, case studies and simulations, analysis of secondary data, qualitative research and pragmatic considerations. Step 3: Research Design Formulation A research design is a framework or blueprint for conducting the marketing research project. It details the procedures necessary for obtaining the required information, and its purpose is to design a study that will test the hypotheses of interest, determine possible answers to the research questions, and provide the information needed for decision making. Conducting exploratory research, precisely defining the variables, and designing appropriate scales to measure them are also a part of the research design. The issue of how the data should be obtained from the respondents (for example, by conducting a survey or an experiment) must be addressed. It is also necessary to design a questionnaire and a sampling plan to select respondents for the study. More formally, formulating the research design involves the following steps : Secondary data analysisQualitative researchMethods of collecting quantitative data (survey, observation, and experimentation)Definition of the information neededMeasurement and scaling proceduresQuestionnaire designSampling process and sample sizePlan of data analysis Step 4: Field Work or Data Collection Data collection involves a field force or staff that operates either in the field, as in the case of personal interviewing (in-home, mall intercept, or computer-assisted personal interviewing), from an office by telephone (telephone or computer-assisted telephone interviewing), or through mail (traditional mail and mail panel surveys with pre recruited households). Proper selection, training, supervision, and evaluation of the field force help minimize data-collection errors. Step 5: Data Preparation and Analysis Data preparation includes the editing, coding, transcription, and verification of data. Each questionnaire or observation form is inspected, or edited, and, if necessary, corrected. Number or letter codes are assigned to represent each response to each question in the questionnaire. The data from the questionnaires are transcribed or key-punched on to magnetic tape, or disks or input directly into the computer. Verification ensures that the data from the original questionnaires have been accurately transcribed, while data analysis, guided by the plan of data analysis, gives meaning to the data that have been collected Step 6: Report Preparation and Presentation The entire project is documented in a written report which addresses the specific research questions identified, describes the approach, the research design, data collection, data analysis procedures adopted, the results and the major findings. The findings is presented in a comprehensible format so that they can be readily used in the decision making process. In addition, an oral presentation is made to management using tables, figures, and graphs to enhance clarity and impact. Secondary data analysis Secondary data are data collected for some purpose other than the problem at hand. Primary data, on the other hand, are originated by the researcher for the specific purpose of addressing the research problem. Secondary data include information made available by business and government sources, commercial marketing research firms, and computerized databases. Secondary data are an economical and quick source of background information. Analysis of available secondary data is an essential step in the problem definition process: primary data should not be collected until the available secondary data have been fully analyzed. Qualitative research Information, industry experts, and secondary data may not be sufficient to define the research problem. Sometimes qualitative research must be undertaken to gain a qualitative understanding of the problem and its underlying factors. Qualitative research is unstructured, exploratory in nature, based on small samples, and may utilize popular qualitative techniques such as focus groups (group interviews), word association (asking respondents to indicate their first responses to stimulus words), and depth interviews (one-on-one interviews which probe the respondents' thoughts in detail). Other exploratory research techniques, such as pilot surveys with small samples of respondents, may also be undertaken. Satisfactory implementation of recommendations of our company's analysis is another aspect of our professional target. We aim to associate with client interests over several years. It will not only cement relationships - so vital to EMMP's long term vision - but also give our executives hands on experience with implementation of new and challenging techniques. Our Expertise Our client base aims to expand to cover companies in all sectors of commerce. It is our endeavor to enlarge the role of conventional market research to fully Business Research. Division in AMRG is a product of client need. Activity wise segregation has been made keeping in mind the specific needs of each of the activities. Extensive field investigation with advanced analytical techniques, are routinely deployed to evolve an accurate quantitative and qualitative analysis. Experience from several successful projects is simulated for similar situations.

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