The class begun with yet another surprise. Not the test, but with the news of finishing another case study for tomorrow- Case Study on Kanpur Confectioneries Pvt. Ltd., which is a case study done by the IIM-A. Then came another surprise on 20-10-2010.. :)..the test. Test not for marks. But to show us the mirror that where we stand. Where we are diverting ourself from our goal? Reading & vomiting out in the paper is not what sir wants. But he wants us to read & learn. Learning should be from class teaching, case studies & Kotler (or Marketing bible). The results showed where we are. With most of us scoring "Positive Zeros", it was not that bad. I said positive because the zero we scored made us realize that we need to wake up & study for our own good. It was not meant to show us that we are lacking behind anybody. Further, sir explained that we should all try to spend more time on constructive activities. But hearty congratulations to Garima, Manas, Rajiv & Archana for not getting junk marks.
Further coming back to the topics of discussions, we first discussed briefly the questions of today's test.
Ans 1-Natural market emerge from groups of consumers with shared preferences is known as clustered preferences.
Ans 2- Ex: Ezee, Ayurveda Toothpaste, Astha & Sanskar channel, Crack, moov etc
Ans 3- Types of Segmentation: Demographic, Geographic, Psychographic & behavorial
Ans 4- VALS network: Innovators, Thinkers, achievers, experiencers, believers, strivers, makers & survivors.
Now coming the class headed towards market research topic. Market research can be conducted on the basis of scales. Scales are the "Flesh of a Questionnaire". Without the scales, the questionnaire is just like a skeleton. Now going towards different types of scales:
1) Semantic Differential Scale (SDC): This is also known as bipolar adjectives. Like Poor quality to high quality. It is one of the major scale to measure the attributes. SAD or Semantic Attribute Differential is a major function to determine people's experiences or views. An example is given below to make u understand better about SDC.
2) Likert Scale: It is a declarative statement scale where people declare or put forward their views about a particualr question. Like whether "Knockout is a pathetic Movie" and the options are : Strongly Agree, Agree, Neutral, Disagree, Strongly Disagree. One has to choose between these to put forward their view point. Another major point is that the scale must be balanced i.e. it should be able to take into consideration all the possibilities. For example: the scale cannot have only four of the attributes of the above mentioned scale. Coz if U are missing one of them, then u are missing out a whole bunch of people who may have the same feeling as the missing one could have indicated. An example is given below:
3) Constant Sum Scale: This is the process of measuring different attributes w.r.t marks and sum of marks. One example was given of that off Cadbury Diary Milk Celebrations. How much one would rate the cadbury Celebrations. let say 30 points being given to quality, 30 given to the price, 10 points given to the ads & the remaining 30 points given to, say, customer satisfaction.
Another important thing told is about the Cadbury coming out with teh celebrations funda.. it took 4 years to make people change their age old traditions of giving Kaju Katli & other mithaais to switch over to Cadbury Celebrations. Now they are targeting the people who are just calling up their friends on festivals by telling them that" Kab Tak phone pe wish karige". This is to make them go to their friends & well-wishers house, coz until they visit places, Y will they go for buying celebrations...
Finally, it was an off day for our class.. But Sachin also gets out on Duck some day. But he always tries not to be bogged down again. So will the class. Keep up the good work. Hope this was just a blimp. :)
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