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How to conduct a market research with special reference to Cadbury

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  1. Meaning of market research
  2. Marketing research process
    1. The problem and the research objectives
    2. Types of research designs
  3. Research design
    1. Types of research designs
    2. Data collection
    3. Observation method
    4. Surveys (questionnaire to public)
    5. Collection of secondary data
    6. Data collection instruments
    7. Steps in questionnaire construction
    8. Sampling
  4. Consumer behavior
  5. Factors influencing consumer behaviour
  6. The purchase decision process
  7. Parties influencing the purchase process
  8. The sweet tooth of the world
  9. Data analysis and interpretation
  10. Limitations of the research
  11. Bibliography

Research in common parlance refers to a search for knowledge. One can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact, research is an art of scientific investigation. The Advanced Learner's Dictionary of Current English lays down the meaning of research as a careful investigation or inquiry especially through search for new facts in any branch of knowledge. Redman and Mory define research as a ?systematized effort to gain new knowledge.? Some people consider research as a movement from the known to the unknown. It is actually a voyage of discovery.

Marketing research is the systematic design, collection, analysis a reporting of data and findings relevant to a specific marketing situation facing the company.

The 1st step in research is formulating a research problem. It is most important stage as poorly defined problems will not yield useful results. Also the marketing management must be careful not to define the problem too broadly or too narrowly. In order to identify the research problem, three categories of symptomatic situations, namely, overt difficulties, latent difficulties and unnoticed opportunities should be studied. Overt difficulties are hose which are quite apparent and which manifest themselves. Latent difficulties are those which are not so apparent and which, if not checked, would soon become evident.

[...] Shared surveys Shared surveys, sometimes referred to as omnibus surveys, are administered by a research firm and consist of questions supplied by multiple clients. Such surveys can involve mail, telephone, or personal interviews. The respondents may be drawn from either an interval panel or random selection. The main advantage here is the cost factor. AUDITS Audits involve the physical inspection of inventories, sales receipts, shelf facing and other aspects of marketing mix to determine sales, market share, relative price, distribution and other relevant information. [...]

[...] A proper question sequence reduces the chances of the questions being misunderstood The question sequence must be clear and smooth- moving, with questions that are easiest to answer being put in the beginning. The first few questions are particularly important because they are likely to influence the attitude of the respondent and in seeking his desired cooperation. Following the opening questions are the question that are rally vital to the research problem and a connecting thread should run through successive questions. [...]

[...] Availability of funds: Availability of funds for the research project determines to a large extent the method to be used for the collection of data. When the funds at the disposal of the researcher are very limited, he will have to select a comparatively cheaper method. Finance in fact is big constraint in practice and the researcher has to act within this limitation Time factor: Availability of time has also to be taken into account in deciding particular method of data collection. [...]

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