Following are a number of examples on the applications of various functions of management research. They clearly bring out how marketing research has been helpful in resolving marketing problems or in identifying opportunities or the development of new products.
1. A pharmaceutical company carried out a study on the prescription behaviour for a major brand on account of its declining sales. The study brought out interesting and even startling findings on a number of aspects such as the relationship between the sales and the age of the brand, its regular promotion, its core therapeutic emphasis and the role of retailers in servicing prescriptions. Prior to the study, all these aspects had been only a matter of conjecture all the while. On the basis of findings of the study, the company changed its marketing strategy. This enabled it to regain the lost market share of its brand.
2. Malayala Manorama, which is Kerala’s largest publication group, has recently launched a monthly women’s magazine in Hindi, Vanita. While launching this magazine, the management observed that it was convinced through market research that there was a huge vacuum in the Hindi magazine segment.
This new magazine ‘Vanita’ has been positioned as a partner and friend that the modern woman can identify with. The first print run of Vanita was one lakh copies. Indications are that within a short time it may become one of the popular Hindi magazines.
Research in Important Areas:
Through research, an executive can quickly get a synopsis of the current scenario, which improves his information base for making sound decisions affecting future operations of the enterprise.
The following are the major areas in which research plays a key role in making effective decisions:
Marketing research is undertaken to assist the marketing function. Marketing research stimulates the flow of marketing data from the consumer and his environment to marketing information system of the enterprise. Market research involves the process of systematic collection, compilation and analysis.
This information goes to the executive in the form of data. On the basis of this data the executive develop plans and programmers. Advertising research, packaging research, performance evaluation research, sales analysis, distribution channel, etc., may also be considered in management studies involving.
(b) Human Resource Development:
You must be aware that the human resource development department uses research to study wage rates, incentive schemes, cost of living, employee turnover rates, employment trends, and performance appraisal. It also uses research effectively for its most important activity namely manpower planning.
(c) Social Relationships:
Research in social sciences is concerned with both—knowledge for self and knowledge for helping in solving immediate problems of human relations. It is a sort of formal training, which helps an individual in a better way.
(d) Government and Economic System:
Research helps a decision-maker in a number of ways, e.g., it can help in examining the consequences of each alternative and help in bringing out the effect on economic conditions.
Various examples can be quoted such as- problems of big and small industries due to various factors-up gradation of technology and its impact on lab our and supervisory deployment, effect of government’s liberal policy, WTO and its new guidance’s. ISO 9000/14000 standards impacts on our exports allocation of national resources on national priority basis, etc. Research lays the foundation for all Government Policies in our economic system.
We all are aware of the fact that research is applied for bringing out union finance budget and railway budget every year. Government also uses research for economic planning and optimum utilisation of resources for the development of the country.
For systematic collection of information on the economic and social structure of the country you need research. Such types of information indicate what is happening to the national economy and what changes are taking place.