(1)To generate reports-for example, financial statements, inventory status reports, or performance reports needed for routine or non-routine purposes.(2)A computer system designed to help managers plan and direct business andorganizational operations.
Q.2a. Distinguish between market research and marketing research
Ans.: Marketing Research:
The American Marketing Association officially defines marketing research as follows:
Marketing research is the function that links the consumer, customer, and public to the marketer throughinformation - information used to identify and define marketing opportunities and problems;generate, refine, and evaluate marketing actions; monitor marketing performance; and improveunderstanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implementsthe data collection process, analyses, and communicates the findings and their implications.
This definition highlights the role of marketing research as an aid to decision making. Animportant feature is the inclusion of the specification and interpretation of needed information.Too often, marketing research is considered narrowly as gathering and analyzing of data for someone to use. Firms can achieve and sustain a competitive advantage through the creativeuse of marketing information. Hence, marketing research is defined as information input todecisions, not simply the evaluation of decisions that have been made. Marketing research alone,however, does not guarantee success; the intelligent use of marketing research is necessary for business achievement. A competitive edge is more the result of how information is used than of who does or does not have the information.Marketing research has many different applications and covers different areas such as thefollowing -
– This refers to research to determine the structure for a given market (e.g. thetwo wheeler market), which would include gathering information on the number of players in themarket, market shares of the different players, growth rate of the market, latest trends anddevelopments in the market, market feasibility or potential for new products launched, etc.
b. Distinguish between primary and secondary data sources.Ans.:
Sources of Data
The sources of data may be classified into (a) primary sources and (b) secondary sources.
1 Primary Source of Data
Primary sources are original sources from which the researcher directly collects data that has notbeen previously collected, e.g., collection of data directly by the researcher on brand awareness,brand preference, and brand loyalty and other aspects of consumer behavior, from a sample of consumers by interviewing them. Primary data is first hand information collected through variousmethods such as surveys, experiments and observation, for the purposes of the projectimmediately at hand.The advantages of primary data are –11.It is unique to a particular research study22.It is recent information, unlike published information that is already availableThe disadvantages are –11.It is expensive to collect, compared to gathering information from available sources22.Data collection is a time consuming process