01032017-JC-01.qxd 2/28/2017 5:08 PM Page 1 c m y b CHANDIGARH | WEDNESDAY | 1 MARCH 2017 USHA ALBUQUERQUE WHAT IT MEANS? Market research is under- MARKET RESEARCH SCOPE Dynamicdecoding Market research agencies cover almost all segments of industry, from B2B and industrial research, corporate and employee research, to channel and retail, product and packaging and all forms of consumer research. While most multi-national and marketing organisations, governments departments and research institutes handle some inhouse market research operations, there are market research agencies that specialise in providing this service. Some advertising agencies have also set up their own special departments in market research, so work options can be varied. Government departments and political parties use market research to conduct opinion polls and find out polling patterns. Social and economic research organisations use market research companies to collect data. Television channels use market research to find out the popularity of programmes shown on television through television rating points (TRPs). Today market information is required in practically every kind of organisation. Market research is the most essential tool for this purpose. In India, the role and importance of marketing research has been growing steadily in the postliberalisation era. As market research companies have strengthened their in-house marketing research capability with new methodologies and computerised tools which ensure accuracy and representative surveying, organisations are also increasingly using the services of market research agencies before launching their marketing strategies. SKILLS REQUIRED ■ Practical problem solving and an organised approach to work ■ Creativity and ability to think out of the box ■ Resilience and patience ■ Good in Statistics and Quantitative Methods ■ Internet & computer skills ■ Background in psychology / sociology is useful ■ Interest in socio-economic trends ■ Effective written and verbal communications skills. ISTOCK State elections are being conducted in several parts of the country and pollsters have been hard at work conducting surveys to figure out which way the political wind is blowing. Political parties along with media houses have hired market research organisations for collecting data to identify and segment voter categories, so as to target them and better position their appeal and the poll-promises that they have to offer. It is an important input that can impact electoral results, and practically all national political parties are utilising the services of market research organisations. It is not only in the field of politics that market research is used. Our choices regarding the type of cars we drive, the mobile we use, or the clothes we wear, are largely influenced by advertising. But it is market research with its mathematical or statistical modeling, sampling techniques and psychographics that provides the advertisers the scientific and measurable basis to sharp-focus their strategy. Moreover, as India is a huge country with social and cultural diversity, market research plays an important role, taking into account local conditions and preferences or needs, to help identify a new product or service which would cut across these diversities. For e.g, eating habits determine the kind of edible oil that can be sold in a particular market, climatic conditions would weigh in for clothes preferences, and buying habits in rural areas differ from those in the urban areas. Moreover, as a market deals with human beings, no study can guarantee a full understanding of how a human mind reacts. Hence, the need is to have sociologists, economists as well as statistical and mathematical specialists to strike a balance between statistical and research data and individual judgment. standably a fascinating field which attempts to figure out what drives people to buy Samsung mobiles, Pepsi's Lays chips, or Surf washing powder. Market research is a marketing technique that collects information about consumers and their choices, usually through surveys, and then analyses and interprets the information before providing it to clients to help in decision making. They combine quantitative data with their understanding of how markets work to better promote a product or service. Market researchers use tools such as statistical analysis packages, surveys, mystery shopping, focus groups and new product tests to help achieve success for a product. They are involved with collection of data - information about the consumer, the market, existing competition and so on. Market research, particularly today, with the help of computers, can build a consumer database in great detail. This can help segmentation of the market or pinpointing target areas in terms of location and people, on the basis of demographic, psychographics and response-based information. This helps in direct marketing, with a door-to-door approach of properly identified potential consumers or through mailing advertising material. Such a database also helps the latest method of tele marketing or using the telephone to contact prospective consumers. The research studies provide basic information and acts as a decision support system to the manufacturer, for planning a new product, for any marketing strategy for current products, as also for collecting data on social and development indices, voting patterns for electoral purposes and so on Market Researchers usually work in teams with statisticians, motivational research spe- WORK SCAPE There are 3 broad areas of work in this field Research, Fieldwork and Data Analysis. RESEARCH: The research department handles the client, finds out about the various marketing problems, decides how to analyse and collect the data. This data is categorised as Quantitative Research which has to do with numbers, or percentage of people to use a product or service, or have an opinion about a certain subject, and Qualitative Research which is more in-depth and deals with motivations and reasons behind people buying or not buying a product or service. According to the responses acquired the researcher prepares the questionnaires for cialists who design survey questions, pollsters, interviewers, IT specialists and a variety of others. GETTING IN Market research jobs are normally for MBAs with a specialisation in marketing, while those handling data interpretation would need to be post-graduates in sociology, psychology or anthropology, social work and related fields. Those going into Fieldwork would need a general degree, although economics, psychology, statistics, geography or the social sciences is preferred along with strong communication skills. With a maths, statistics or computer background you could enter the Data Analysis area. However, one can start a career in this field with a BBA or a bachelor's degree in marketing, economics, c m y b conducting the research, and decides upon the location and mode for the survey. The researcher also designs research reports and proposals. FIELDWORK: The Fieldwork department organises and manages the people that conduct the surveys, training them, if necessary, and briefing them in techniques that will elicit the right information. Surveys can be carried out through door-to-door interviews, by phone or mail. Sometimes students with spare time and an interest in this work are called to carry out the field work, visit homes, study markets, visits to other cities, towns or villages. With modern data collection tools such as mobiles, tablet, sensors statistics, psychology, sociology, and political science, in trainee jobs as coders or tabulators, then become interviewers or research assistants with some experience. There are only a few institutes that offer special market research courses, as it is normally included in the marketing management programmes. Most MBA programmes in sales and marketing include training in the different aspects of market research. Some courses in advertising and communications, such as those offered by the Mudra Institute of Communications, Ahmedabad, and the Indian Institute of Mass Communication, New Delhi also cover subjects on market research, as do institutes for sales and marketing. and other digital devices, fieldwork has become faster and more reliable too. DATA ANALYSIS: The Data Analysis department feeds the raw data collected by the fieldwork team into the computer, developing the software for each specific problem, and through statistical and other methods analyses this data and hands it over to the researcher. Then researchers interpret the data from the analysis, and based on this information, advise clients. Today this area of work has assumed huge potential with Analytics and Big Data opportunities in great demand particularly with e-commerce companies. SPECIFIC MARKET RESEARCH COURSES INCLUDE: ■ The Northpoint Post Graduate Programme in Market Research at Lonavla, offered in collaboration with market research firm Nielsen. This 11month residential fasttrack programme is the only full-time programme for market research that includes hands on projects during internships with Nielsen and other client organisations, and placements with Nielsen on successful completion of the programme Graduates from all streams with a minimum of 50 per cent are eligible to apply. Shortlisted candidates will be called for a written test to assess their mathematical, language and analytical abilities. continued on p3
The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising four eminent persons as trustees.
The Tribune, the largest selling daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the paper. It is an independent newspaper in the real sense of the term.
The English edition apart, the 133-year-old Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).