BUSINESS RESEARCH METHODS

“THE STUDY OF BUSINESS RECEARCH APPLICATION IN

MARKETING”

PROJECT REPORT

SUBMUTTED BY:

SUMI MURUGAN P K

ROLL NO: 52

3rd Trimester

SUBMITTED TO:

PROF. DEEPAK M

MBA DEPARTMENT

MES College of engineering

MALAPPURAM DT, KERALA

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 TABLE OF CONTENTS

CHAPTER TITLE PAGE NO.

1 INTRODUCTION 3

2 COMPANY PROFILE 7

3 RESERCH METHODOLOGY 9

4 DATA ANALIYSIS AND 11

INTERPRETATION
5 FINDING, SUGGESTION 13
&CONCLUSION
BIBLOGRAPHY 16

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 CHAPTER-1
INTRODUCTION

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 INTRODUCTION

Marketing research is "the process or set of processes that links the producers, customers, and
end users to the marketer through information used to identify and define marketing
opportunities and problems; generate, refine, and evaluate marketing actions; monitor
marketing performance; and improve understanding of marketing as a process. Marketing
research specifies the information required to address these issues, designs the method for
collecting information, manages and implements the data collection process, analyzes the
results, and communicates the findings and their implications."

It is the systematic gathering, recording, and analysis

of qualitative and quantitative data about issues relating to marketing products and services.
The goal of marketing research is to identify and assess how changing elements of
the marketing mix impacts customer behavior. The term is commonly interchanged with market
research; however, expert practitioners may wish to draw a distinction, in that market research
is concerned specifically with markets, while marketing research is concerned specifically about
marketing processes.

Applications of Market Research

Pricing Research

We provide pricing strategy consulting backed by strong pricing research capabilities.

Our perspective is broad when dealing with pricing research and pricing strategy decisions, and
focus on finding for your business optimum price-product-feature configurations in the context
of market positioning opportunities. We employ both qualitative and quantitative pricing
research tools.

Product Research

Product market research serves several goals: new product design and market validation
research, or assessing existing product strength and line extension potential. We follow the
product development cycle integrating research with creative positioning and technical product
design efforts.

Concept Testing

Concept testing research evaluates advertising concepts, ad theme concepts and

appeals, new product concepts, pricing, brand concepts, brand names, and positioning strategy

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concepts. We select techniques -- qualitative and quantitative -- to both develop concepts,
refine, and screen to assess market potential.

Positioning Research

We offer experienced market positioning and creative branding research capabilities to

define and go-to-market with a high-impact positioning strategy. First, it requires understanding
the market positioning concept, your current and potential markets, and the process needed to
generate brand name impact.

Marketing Due Diligence

We support venture investment firms with primary and secondary marketing research in
a standalone or component marketing due diligence study.

Customer Satisfaction Research

The buzz and interest around customer satisfaction research sometimes deflates if the
research design does not lead to actionable results. Also, customer expectations generally rise
overtime as advances in technology in many categories boost the consumer consciousness of
what to expect. We build into our customer satisfaction study design "action indicators" to point
to immediate use of customer satisfaction results.

Branding Research

Branding decisions drive branding marketing research strategy. Corporate, product and
advertising brand development is a mix of creativity and marketing information to uncover brand
positioning opportunities in cluttered market spaces.

Brand Equity Research

Brand equity research measures the breadth and depth of brand power in your target
markets. We use both standard and custom tailored brand equity survey measurements. A
key to research design is the goal of a brand equity measurement study.

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Advertising Research

Advertising research design is determined by specific advertising goals and the stage of
ad development, or campaign. We use a broad range of advertising research techniques
including ad recall surveys, message and theme salience and impact measures, buying
motivation and association with the ad message or positioning theme. We employ both
qualitative and quantitative pricing research tools.

Market Segmentation

Market segmentation research maintains focus and delivers needed marketing

information in today's moving economy where new markets and new product categories
emerge and traditional market segments fade away. Market segmentation research is a way to
keep 'your eye on the ball.' Often we start the market segmentation process with qualitative
research to the range and breadth of customers. Then we follow with quantitative research
using appropriate multivariate analysis (cluster, k-means factor, etc) to define meaningful
segments.

Sales Analysis

Data mining -- finding gems of insight from sophisticated or basic analysis of your
internal customer and sales and margin trend data -- is a key first step in product and brand
analysis. Simply put, a marketing analysis data mining effort searches for meaning and insight
among the stacks of sales data and marketing data already within a sales and marketing
organization. Through these tools we can better target your best customers, find which
advertising and promotion methods are most efficient and effective.

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 CHAPTER-2
COMPANY PROFILE

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 COMPANY PROFILE

BENCO COCONUT OIL

Benco Coconut oil brings the goodness and purity of coconut oil from God's own country.
In an effort to counter adulteration in the coconut oil market and to make pure coconut oil
available in the country, Akbar Group ventured to the Food & Beverage industry by launching
the company – Benzy Food & Beverages Pvt. Ltd.

Benco coconut oil is a trusted brand name that is synonymous with purity. This product
has received the AGMARK approval from Ministry of Agriculture, Government of India. The
Company has also obtained ISO 9001-2000 certification for its management and manufacturing
process.

Benco coconut oil is manufactured in the modern plant at Ponnani, Kerala under
stringent hygienic conditions. Best quality Malabar copra (dry coconut) is fed into the oil
extraction machines through conveyers. Benco coconut oil is so pure that it can be used for
various purposes like cooking, body massage and application on hair and scalp. It can also be
used in open lamps as it does not result in a smoky flame.

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 CHAPTER 3
RESEARCH METHODOLOGY

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RESEARCH
Research means a search for facts- answer to questions and solutions to problem .It is a
purposive investigation. A research can be defined as a scientific and systematic search for
pertinent information on specified topic

RESEARCH METHODOLOGY
This study is done by conducting a survey with the manager

OBJECTIVES OF THE STUDY

 To study business research applications in marketing.

SOURCE OF DATA COLLECTION

PRIMARY DATA

Primary data will be collected through structured questionnaire which may be filling up by
respondent

SECONDARY DATA

Secondary data will be collected from various books, journals, and internet

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 CHAPTER 4
DATA ANALIYSIS AND INTERPRETATION

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 DATA ANALIYSIS AND INTERPRETATION

The potential market of benco oil is less they concentrated in small area In the view of manager
the market of benco oil will grow in future .The main competitors of benco oil are sunflower oil,
kera oil, goldwinner. The main applications of market research are pricing research, market
segmentation, and sales analysis, branding research, brand equity research, advertising
research, customer satisfaction research, and positioning research. But in benco some of the
market research applications are used The main application of research are ales analysis,
pricing research, and product research

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 CHAPTER 5
FINDINGS, SUGGESTION AND CONCLUSION

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 FINDINGS
Managers and business decision-makers may not always hold informed
perspectives with regard to market research. For some managers, who have limited exposure
to research design and scientific theoretical background, market research is a fact-finding
endeavor, at best. These managers and business decision-makers request market research in
a particular and often familiar format. But they typically fail to understand the need for a
thoughtful consideration of the research problem to be addressed.

SUGGESTIONS

Business owners use market research to:

 Determine the feasibility of a new business. Market research is an essential

component of a business plan for startup businesses - if market research does not
indicate a demand for the product or service, the proposed business will not likely be
viable.
 Test interest in new products or services to respond to customer needs.
 Find and develop new markets or expand existing ones.
 Monitor industry and economic trends and develop strategies to adapt the business
to the changing environment.
 Determine optimal product placement - when, where, and how a product or service
will be distributed.

 Improve aspects of their businesses, such as customer service.

 Monitor the competition - checking competitors ads, websites, social mediacampaigns,
etc. to see how they attempt to capture some of your market share.
 Develop competitive strategies - for example, setting competitive pricing for products or
services or determining how your products/services and customer service compare to
the competition.
 Develop optimal strategies for promotion - how to get the message out to the target
market via branding, traditional advertising and/or social media, etc.

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 CONCLUSION
Marketing research is usually the first step in the marketing process, after
ideas for products are conceived. Businesses conduct marketing research to obtain information
from the marketplace. They use it to solve problems, obtain information on competitors and
determine the needs and wants of non-paying consumers and customers. Marketers then
analyse the data and develop various marketing strategies. Coca Cola has remained successful
by using market research by implementing surveys and over time some other types of market
research as well to remain successful. In this paper, I have shared with you that any type of
market research can be used but it is based on what the business need at the time. I hope this
information has shown you how important market research is and what it has to offer.

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 BIBLOGRAPHY
 https://www.slideshare.net/NaveenKumarSharma15/marketing-research-application
 http://www.studymarketing.org/articles/Marketing/Types_of_Marketing_Research_Applications.ht
ml
 https://www.thebalancesmb.com/market-research-2948350
 https://www.allbusiness.com/introduction-to-market-research-1286-1.html
 https://en.wikipedia.org/wiki/Marketing_research

APPENDIX

QUESTIONNAIRE

 How big is our potential market?

 Will this market grow or shrink in the future?
 What other products and services are similar to ours?
 Who are our top competitors?
 What are your market research applications?

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