The second session of Research Methodology was about Market Research.The topic is in itself a vast subject that a basic understanding is necessary to arrive to a certain conclusion.In its literal sense, market research is an organized effort to gather information about target markets or customers. It is a very important component of any business strategy . The success and loss of any business depends upon the customers preferences prevailing in a certain market domain.A proper strategy is required in order to cater the needs of the customers.The market research also entails us to create an environment wherein a a specific product can be held for improvisation as per the growing competitiveness in the market.
Clearly, the concept in its literal sense was quite clear. We had a long discussions about its main components like The types of Market Research, , how to approach for a market research and process which can be carried out to reach a certain conclusion.Being a Journalism trainee it was important for me to have the insight of the topic from a certain point of view.A process of gathering news and presenting it to the large masses according to their taste and preferences requires a lot of time and effort. Lets take an example of broadcast journalism and the components we had discussed in the class will be better understood to get an idea of the topic.
Lets suppose there are lots of news around us for example one is about tiger biting a human being in Madhya pradesh, second is flood in Jammu and Kashmir and and third is Corruption charges against any political leader. The duty of any news presenter is to prioritize their content and then reach to a certain result. So the prioritization will be called as to determine the type of Market Research of that particular news. Basically ,there are three types of research first,Generative Research, with this we can have a general idea that what is the preference of viewers ,are they interested in national news or any other sort of news. It is natural that the news regarding the Jammu and Kashmir flood will impact more than any other news first then corruption and then tiger news. The target audience will be their relatives living in other parts of the country.This will be categorized as Evaluative Research that is ,to know the target audience. The third type is Diagnostic Research, under this if we occurred with any shortage of data or any other component of news we try to overcome it by applying measures (that is, we know something is wrong but dont know what).Under such circumstances it will be advisable to approach Generative Research.
Before having a brief idea of what type of research it is, then we have to prepare a Request For Proposal (RFP). RFP has basic and mandatory points strictly adhered to 5W’s and 1 H .
- Background: A historical perspective is to be made in order to create the connecting dots with the present scenario(why).
- Objectives and Goals : What will be the key points to increase the visibility in various regions in order to reach your set goals and targets(what).
- Region: Where mostly you will broadcast your news. So it is compulsory for any research team to have a preview of regions before sending their correspondents to the location(is it a hindi speaking area or english speaking area, where).
- Target group: The most important component is who will be the viewers mostly, obviously it will be the whole nation but mostly the concerned relatives or family members who will wish to know bits and pieces of news(who).
- Action: The last but not the least of the RFP is how to carry out the above mentioned points.An action plan is to be designed to derive to a certain conclusion and to predict a rough outcome(how).
For any news to be broadcast before the nation it is obvious to collect the data in two segments first is Qualitative and second is Quantitave before planning out any rough ideation of a research. since for any news to be broadcast it is not necessary to prepare a set of questions for the viewer as the news has to be broadcast in any case. So this part will not be applicable as such.
In the last process we can present the news in seconds.But one has to keep in mind that the process has to be carried out strategically as any mistake or confusion can lead to the drastic outcomes of falling down of TRPs at a higher rate.
Overall, the concept is a necessary requirement for any business strategy, as there is a practical implementation of the theoretical knowledge and so was the experience through the examples.