What Is Marketing Research? Pregnant Definition Features

What is Marketing Research? Meaning

blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Marketing Research has 2 words, viz., marketing too research.

1. Marketing way buying too selling activities.
2. Research way a systematic too consummate written report of a problem. It is done yesteryear experts. It uses scientific methods.

Thus, nosotros tin laissez passer the sack say, “Marketing Research is a systematic method of collecting, recording too analyzing of data, which is used to solve marketing problems.”

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A fellowship faces many marketing problems. It faces problems virtually consumers, product, marketplace set competition, sales promotion, etc. Marketing query helps to solve these problems.

Marketing query is a systematic process. It rootage collects information (information) virtually the marketing problem. Secondly, it records this data. Then it analysis (studies) this information too draws conclusions virtually it. After that, it gives suggestions (advice) for solving the marketing-problem.

So, marketing query helps to solve the marketing problems quickly, correctly too systematically.

Marketing query collects total information virtually consumers. It finds out the needs too expectations of the consumers. So the fellowship produces the goods according to the needs too expectations of the consumers.

Marketing query helps the fellowship to brand its production too marketing policies. It helps the fellowship to innovate novel products inwards the market. It helps to set new-markets.

Marketing query also collects total information virtually the competitors. The fellowship uses this information to struggle competition. It also helps the marketing managing director to possess got decisions.

Marketing query is a especial branch too somebody of 'Marketing Management'. It is of recent origin too widely used yesteryear manufacturers, exporters, distributors too service organisations.

Marketing query is rattling systematic, scientific, objective too organised. It has a broad scope. It includes production research, consumer research, packaging research, pricing research, etc.

Marketing query is a continuous process. It has a few limitations. However, a fellowship cannot last too succeed without it.

Definition of Marketing Research

There are many definitions of marketing research. Some of import ones are:

1. According to American Marketing Association (AMA),

“Marketing Research is the systematic gathering, recording too analysing of information virtually problems relating to the marketing of goods too services.”

2. According to Philip Kotler,

“Marketing query is a systematic job analysis, model edifice too fact finding for the role of improved decision-making too command inwards the marketing of goods too services.”

3. According to Paul Green too Donald Tull,

“Marketing query is the systematic too objective search for, too analysis of, information relevant to the identification too solution of whatsoever job inwards the plain of marketing.”

4. According to David Luck, Donald Taylor too Hugh Wales,

“Marketing Research is the application of scientific methods inwards the solution of marketing problems.”

Read next articles to know to a greater extent than on the concept of marketing research:

1. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Objectives of marketing research.
2. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Functions of marketing research.
3. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Need for marketing research.
4. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Importance of marketing research.
5. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Limitations of marketing research.
6. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Distinguish betwixt MIS too marketing research.

Features of Marketing Research

The salient characteristics or features of marketing query are every bit follows:

1. Wide too comprehensive scope - Marketing query has a rattling broad scope. It includes production research, packaging research, pricing research, marketplace set research, sales research, etc. It is used to solve marketing problems too to possess got marketing decisions. It is used to brand marketing policies. It is also used to innovate novel products inwards the marketplace set too to set novel markets. Marketing query is used to select channels of distribution, inwards advertising strategy, for sales advertisement measures, etc.
2. Systematic too scientific - Marketing query is conducted inwards a step-by-step manner. It is conducted inwards an orderly fashion. Therefore, it is systematic. Marketing query uses scientific methods. Thus, it is also scientific.
3. Science too art : Influenza A virus subtype H5N1 Science collects noesis (data) acre an Art uses this noesis for solving problems. Marketing query rootage collects data. It too then uses this information for solving marketing problems. Therefore, it is both, a Science too an Art.
4. Collects too analyzes data - Marketing query gathers information accurately too objectively. It rootage collects reliable information too and then analyses it systematically too critically.
5. Continuous too dynamic process - The fellowship faces marketing problems throughout the year. So, Marketing query is conducted continuously. It continuously collects up-to-date information for solving the marketing problems. Large companies possess got their ain marketing query departments. They comport Marketing query continuously throughout the year. Therefore, Marketing query is a continuous process. It is a dynamic procedure because it goes on changing. It does non rest static (the same). It uses novel methods too techniques for collecting, recording too analyzing the data.
6. Tool for decision-making - The marketing managing director has to possess got many decisions. For this, he requires a lot of data. Marketing query provides right too up-to-date information to the marketing manager. This helps him to possess got quick too right decisions. Therefore, Marketing query is an of import tool for decision-making.
7. Benefits fellowship too consumers - Marketing query is useful to the fellowship inwards many ways. It increases the sales too profits of the company. It helps the fellowship to struggle contest too boost its goodwill inwards the market. It reduces the marketing risks. In short, Marketing query brings success to the company. It also brings the fellowship closer to the consumers. It gives convenience too satisfaction to the consumers.
8. Similar to nation of war machine intelligence - Marketing query is a commercial intelligence-gathering activity. It plant like to nation of war machine intelligence. Marketing tidings rootage makes a systematic written report too alone too then takes a concern action. Marketing query collects reliable information virtually the consumers, the competitors, the market, etc. This information is too then organised too used for planning, decision-making too job solving. This information is also farther used for introducing novel products too services inwards the market.
9. Applied research - Applied query is used for solving problems. Marketing query is used for solving marketing problems. Therefore, nosotros tin laissez passer the sack nation that, Marketing query is also an applied research. It has a practical value because it is used for solving introduce too time to come problems.
10. Connected amongst MIS - Marketing query is a ingredient of Marketing Information System (MIS). Marketing query too MIS are interrelated. Both are used to solve marketing problems too to possess got marketing decisions.
11. Reduces gap betwixt producers too consumers - Marketing query informs producers virtually the needs too wants of the consumers. The producers arrive at goods according to the needs too demands of the consumers. This brings satisfaction to the consumers too inwards render producers brand goodness profits. So, Marketing query reduces the gap betwixt the producers too the consumers.
12. Uses dissimilar methods - Marketing query uses iii methods for collecting data, viz., Survey Method, Experiment Method too Observation Method. All iii methods are scientific. The researcher has to work a suitable method for collecting a reliable data.
13. Has few limitations - Marketing query has few limitations too. It is non an exact science. So, it does non laissez passer accurate results. It provides suggestions too non solutions. It is also a costly too time-consuming process.
14. Accurate information collection too critical analysis - Marketing query gives much importance to accurate information collection too its critical analysis. Thus, inwards a Marketing research, the information must live rootage collected accurately. That is, collected information or gathered information must live accurate, reliable too relevant. Later, this information must live systematically too critically examined earlier making whatsoever decisions.