Page 123 - DMGT509_RURAL MARKETING

Rural Marketing

Notes On the contrary, marketing people can get valuable inputs from MR, like demand forecasting,
product specifications, advertising and promotion plans endorsement, locating new markets,
market segments, and finalizing distribution channels for optimizing their effectiveness. MR
can also help in making strategic plans for the firm.
The MR Process can be shown in graphic form as given below:

Figure 6.2

Research
Problem method Selecting sample
known design
selection

Data
Market Data
Research processing/Data collection
Interpretation
Report

For instance if management problem is of poor market image, or low brand equity, MR would
find out. “What is the exact brand equity of the firm with the target market segment?”

If the management wants to know if the advertising budget is adequate or not, MR would try to
find out, “the effectiveness of advertising.”
And if the marketing team wants to know who are the customers of the product, the MR would
find out “the target customers of the segment.”
If sales are stuck in recession, MR would “Find out the price elasticity of the product in the
selected segment.”
For new product development, MR would, “Find out if new product needs to be developed. And
if yes, then with what specifications.”

!
Caution The objectives of advertising have been discussed earlier. With the changing
business environment, product life cycle shifts, the objectives keep moving too. The
DAGMAR theory needs constant updating and vigilance to be of real value.

6.7 Data Processing and Analysis

In data analysis, it is important to understand that based on application the scale of measurement
is made. For instance, when you apply, classification of sex, geographic area, or social class,
where objects are either identical or different, nominal scale is used.
If ranking or preferences, class standing are the applications then objects could be smaller or
larger. In this case Rank order scale is used.
For altitude measurements, temperature scales, when intervals between adjoining ranks are
equal, interval scale is used.
For sales, income, units made, the ratio scale is used.

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