Question

The drive-in cinemas offers both the comfort and security of social distancing. An entrepreneur wants to find out the key factors that influence consumers' decision to visit a drive-in cinema. Imagine that you are working for a marketing research company and has been tasked to state the management decision problem (MDP) and marketing research problem (MRP), formulate the main components of the MRP and briefly explain what each component is. (Assume that the coronavirus doesn't exist in this scenario).

Answer 1

ANS :

Drive-In-Cinema is more than just a theatre, it gives you a superior cinema experience along with high-quality sound with superb settings under the stars. It is one of the favourite summer pastimes.

There are two traditions on cinema audience research. The first approach is using econometric model. Based on econometric approach researchers are attempted to create a econometric model to project movies based on financial performance, product attributes and audience behavior data that are collected by the agency and the financial industry. The audience behavior is related to rating online, internet discussion , the choice of time watch, product attributes . Financial data is concerning with film sales on the first week of production costs, promotion cost and so forth .

The second approach of cinema audience research is conducting based on behavioral or psychological approach. In this tradition, the researchers are focus on individual studies, such as motivation, purchasing decisions, opinions, attitudes, mood . Such studies are examining consumers as the research subjects.

There are 7 important factors that influence all the buying decisions to visit a drive-in cinema

1. Economic Factor

The most important and first on this list is the Economic Factor. This one is the main foundation of any purchasing decision. The reason is simple people can’t buy what they can’t afford. The need of a product also doesn’t play a role here, but the most important thing is affordability.

2. Functional Factor

The factor is totally about needs, backed by a logic that what makes sense and also fits in the best interest of the customer. This one factor also plays a very important role in the buying decision.

3. Marketing Mix Factors

There are 4 components in the marketing mix, i.e. product, pricing, promotion and place of distribution and each of these components have a direct or indirect impact on the buying process of the consumers. The consumers consider various things like the characteristics of the product, price charged, availability of the product at the required location and much more.

4. Personal Factors

The personal factors include age, occupation, lifestyle, social and economic status and the gender of the consumer. These factors can individually or collectively affect the buying decisions of the consumers.

5. Psychological Factor

When it comes to the psychological factors there are 4 important things affecting the consumer buying behaviour, i.e. perception, motivation, learning, beliefs and attitudes.

6. Social Factors

Social factors include reference groups, family, and social status. These factors too affect the buying behaviour of the consumer. These factors in turn reflect an endless and vigorous inflow through which people learn different values of consumption.

7. Cultural Factors

Cultural factors have a subtle influence on a consumer’s purchasing decision process. Since each individual lives in a complex social and cultural environment, the kinds of products or services they intend to use can be directly or indirectly be influenced by the overall cultural context in which they live and grow. These Cultural factors include race and religion, tradition, caste and moral values.Consumer behaviour can indicates different things like how individuals or groups choose to buy, use and dispose goods or services, to satisfy their needs and desires. Hence it is important to understand that the consumer behaviour is affected by several factors.

Now if iam working in a marketing research company & asked for MDP & MRP , these are the main components of MRP But first it is necessary to know about Market research problem. The marketing research problem is information oriented. It wants to determine what information is needed to make the best decision. It involves determining what information is needed and how that information can be obtained effectively and efficiently. where as A Management Decision Problem is when a situation arises, and management of a company needs to make a decision which requires research and hence starts the research process. There is no actionable guidance.

Here are 7 components of a market research proposal. This includes the following topic areas: objectives, approach, design, fieldwork, reporting, timeline, and costs.

1. Objectives

This is the general recap of key questions that need to be answered in the market research. It should address your expectations, what you want to learn from the market research, and what you plan to do with the results. Here the market research company should communicate how well they listened and understood the key objectives of your project from the prospecting meetings.

2. Approach

In this section of the market research proposal, the firm should outline the approach. This approach should set the table for the methodologies of choice and most importantly, why they are the best options for the client.

Here the proposal may talk about 2 focus groups followed by an online survey. Or possibly in-depth interviews (IDIs) followed by a online survey through email contacts.

Whatever the methodology is, the firm should spend some time discussing the value of each methodology and why it was chosen over other options. For instance, online surveys offer the best ROI for a client. This is because they are cost-effective, offer a quick-turnaround, and capture quality data. This is part of the story we share for our Voice of Customer (VoC) projects.All great market research companies have a patented process.

3. Design

Now that the approach is laid out, the market research company should get into the details here. The design phase of the market research proposal outlines the structure of each of the market research instruments. This may include a moderator's guide for a focus group, a survey document for an online survey, or an interview guide for an IDI.This should explain some of the questions the market research company is considering asking, how long the survey or interview will take, what populations the market research will be targeting and so on. If they are proposing focus groups, the proposal will discuss location of the groups, honorariums, recruitment methods and so on.This is the crux of the market research. The detail is in the design and it's where the market research company can really shine. This is where they can show their expertise and experience. This is where the pretenders are separated from the contenders.

4. Fieldwork

During the fieldwork section of the proposal, this is where you'll read about the number of groups, number of survey completes, or number of interviews. You may also learn about how the firm proposes cutting the audiences or creating quotas. Here they may also share how the project will start with a soft-launch before fully launching fieldwork. In this section we also share with clients that they'll receive a live data link which they can access 24/7 with a passcode. This gives our clients up-to-the-second data when their project is active.Fieldwork should address targeted markets, demographics, and quotas for your study.

5. Reporting

Another key section of the market research proposal. This is where you will read about the analysis and reporting plans of the market research company. It should give you a mental picture of how the report will be structured. This would include things like an executive summary, recommendations, infographic, customer persona, and an appendix of question-by-question results.Depending on the complexity of the project, the market research company should also touch on some advanced analytics such as TURF, regression, correlation, or any other non-traditional form of analysis and reporting.

6. Timeline

In one of the final sections of the market research proposal, the market research firm should highlight the timeline. This not only includes a total start to finish estimate in weeks (or months) but a breakdown of each section. We often find gantt charts work very well for these timelines. The breakdown here should include kickoff, set up, design, fieldwork, and reporting.

7. Costs

Lastly, the document must highlight the expenses. This total cost is often what our clients (and any human being) wants to jump to first. We typically either include this on the cover page or at least in the email sent to the client. The cost should give some details on how it came to be (e.g., based on hourly rates and time expected to complete each task). It should also talk about the hard pass-through costs such as incentives or rentals of panels.