On 7th December, 2019 a guest session was organized in the course Marketing Research (MR) at Jaipuria Institute of Management, Lucknow. The key speaker of the session was Ms. Anjanita Das, Associate Director-AI & Analytics, (Digital Business-RCGTH & MLEU), Cognizant, Bengaluru. The session was conducted under the guidance of Prof. Puneet Rai, Course Instructor, and it revolved around the topic Real World Application of Market Research.
The session began with Prof. Puneet Rai welcoming Ms. Anjanita Das with a green certificate and introducing her to the students. Ms. Das, Started the session by asking “What is a Market Research”. After listening to the answers she quoted that “Marketing Research is a systematic way of gathering data about Consumer, Market, Company, etc. and understand the need and expectations of the people”. The students were briefed about steps of doing a marketing research, which are as follows:
1. Defining the problem and opportunity
2. Developing the market research plan
3. Collecting relevant data and information
4. Analysing data and finding reports
5. Put data into action
Speaking further, She talked about the procedure of doing a market research, where she said the first step is Exploration and finalising of the business case, followed by Descriptive Research, Casual Research, then assessing that they are significantly different or not, then at the end running a hypothesis testing.
She elucidated the real-life examples wherein her team helped client address different marketing problems with the help of marketing research and statistical techniques. She explained how marketing research helped one of her clients address micro-segments with the customized messages and how it helped the client improve it’s marketing performance.
Lastly, she talked about what should be the approach while dealing with high data science problem and said that is should be done in 5 steps:
1. Feasibility study
2. Business skill formulation
3. Pilot model or proof of concept
4. Model Engine
The session ended with students asking question and answers, the session ended on a positive note with a question and answers session, and at the end Ms. Shubhi Sinha proposed Vote of Thanks to the guest for delivering such an interesting and effective lecture.