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Marketing Research the Research Process

Marketing Research the Research Process

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Published by Vikas
Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.
Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.

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Categories:Types, Research
Published by: Vikas on Dec 24, 2012
Copyright:Attribution Non-commercial

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12/24/2012

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MARKETING RESEARCH
The Research Process
 
 
Marketing Research: DefinitionandPurpose
 
Many definitions of Marketing Research:
“Marketing research is the systematic design, collection,
 analysis and reporting of data and findings relevant to a
specific marketing situation facing the company.” 
 [Philip Kotler 
“the systematic gathering, recording and analyzing of all 
data about problems relating to the marketing of goods
and services.” [The American Marketing Association] 
 
Basic Purpose of Marketing Research
 
 Marketing research reduces uncertainty or error indecision-making. The information collected byconducting marketing research is used for problemsolving and decision making in various areas of marketing.
 
Marketing Research ...
 
Can help the marketing manager to:
(1) Identify and define marketing problemsand opportunities accurately;(2) Understand markets and customers andoffer reliable prediction about them;(3) Develop marketing strategies and actionsto provide a competitive edge; and refineand evaluate them;(4) Facilitate efficient expenditure of funds;(5) Monitor marketing performance; and(6)Improve the understanding of marketingas a process.
 
 Is important becauseof 
 
Rapid changingmarketingenvironment;
Need for up-to-dateinformation for
strategically 
important areas;
Importance of research as anintegral part of  better operation.
 

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