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Research & STP Analysis

This document discusses key concepts in marketing research for service industries. It defines marketing research and outlines the typical marketing research process. It also discusses when service firms should not conduct research and covers the STP analysis framework involving segmentation, targeting, and positioning. Segmentation involves dividing the market into distinct groups. Targeting selects specific segments to focus on. Positioning involves how the product or service is perceived in the customer's mind.

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2020 11068
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40 views

Research & STP Analysis

This document discusses key concepts in marketing research for service industries. It defines marketing research and outlines the typical marketing research process. It also discusses when service firms should not conduct research and covers the STP analysis framework involving segmentation, targeting, and positioning. Segmentation involves dividing the market into distinct groups. Targeting selects specific segments to focus on. Positioning involves how the product or service is perceived in the customer's mind.

Uploaded by

2020 11068
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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MARKETING RESEARCH IN

SERVICE INDUSTRY

Dr. Apeksha Chanpaneri


Dr. Apeksha Chanpaneri
Concept of Marketing Research

1985 defines marketing research as,

“Marketing research is defined as a set of techniques and principles for


systematically collecting, recording, analyzing and interpreting data that can aid
decision makers involved in marketing goods, services or ideas.”

Dr. Apeksha Chanpaneri


MARKET
RESEARCH
PROCESS

Dr. Apeksha Chanpaneri


CRED is a Bengaluru-based
fintech startup that offers
rewards for customers who use
its platform to pay their credit
card bills.

Problem: Customers are not


using the application.

Dr. Apeksha Chanpaneri


Dr. Apeksha Chanpaneri
Findings
1. Not even a single deal they are promoting is worth considering.
2. Lack of awareness about usage and benefits

Dr. Apeksha Chanpaneri


WHEN SHOULD SERVICE FIRM NOT
CONDUCT RESEARCH

• The decision related to the service/product has already been taken and
research is being done in order to be politically correct.
• There is ambiguity about the objectives of conducting research.
• The data collected is not put to much use.
• In case the sample does not represent the desired population aimed to be
covered.

Dr. Apeksha Chanpaneri


S T P A N A LY S I S

Dr. Apeksha Chanpaneri


TA U D A D R I N K N E S C A FE G O L D ,
SADDA DRINK DRINK?
Dr. Apeksha Chanpaneri
Segmentation

Dr. Apeksha Chanpaneri


SEGMENTATION

• Market segmentation is defined as the


process of dividing the market into distinct
groups that share common characteristics,
needs, purchasing behavior, or consumption
patterns.

Dr. Apeksha Chanpaneri


Dr. Apeksha Chanpaneri
Bases of Market Segmentation

Dr. Apeksha Chanpaneri


Targeting

Dr. Apeksha Chanpaneri


Targeting

Targeting is the choice of a single segment or group of segments


that the organization wishes to select. Thus, it is actually a target
sub-market or target segment (Masterson and Pickton 2004).

Dr. Apeksha Chanpaneri


Selecting Market Segments

• Undifferentiated or mass marketing


• Differentiated or segmentation marketing
• Concentrated or niche marketing

Dr. Apeksha Chanpaneri


Positioning

Dr. Apeksha Chanpaneri


Positioning

• ‘Positioning starts with a product. A piece of merchandise, a service,


a company, and institution, or even a person ... Positioning is not
what you do to a product. It is what you do to the mind of the
prospect. That is, you position the product in the mind of the
prospect.’

Dr. Apeksha Chanpaneri


Positioning Strategies

• Who am I?
• What am I?
• For whom am I?
• Why me?

Dr. Apeksha Chanpaneri

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