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Published by: Padmavathy Gopalakrishnan on Aug 01, 2011
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08/01/2011

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original

 
 
Compiled
 
by
 
MANAGEMENT
 
PARADISE
 
TEAM.
 
Page 1
MEANING
 
OF
 
MARKETING
 
RESEARCH
 
The
 
term
 
"Marketing
 
Research" 
 
is
 
composed
 
of 
 
two
 
words
"Marketing" 
 
and
 
"Research".
 
Marketing
 
 
Marketing
 
basically
 
consists
 
of 
 
spotting
 
the
 
needs
 
of 
 
customers
 
and
 
meeting
 
them
 
in
 
the
 
best
 
possible
 
manner
 
through
 
appropriate
 
production
 
and
 
distribution
 
activities.
 
 
The
 
term
 
marketing
 
refers
 
to
 
buying
 
and
 
selling
 
activities.
 
Exchange/transfer
 
of 
 
ownership
 
is
 
the
 
essence
 
of 
 
marketing.
 
Research
 
 
Research
 
means
 
detailed/systematic/comprehensive
 
study
 
of 
 
a
 
problem.
 
.
 
 
Research
 
is
 
a
 
process
 
involving
 
a
 
series
 
of 
 
steps
 
to
 
collect
 
and
 
analyze
 
the
 
information
 
needed
 
for
 
decision
making
 
in
 
the
 
desired
 
/
 
specific
 
field
 
of 
 
inquiry.
 
The
 
term
 
research
 
can
 
be
 
applied
 
to
 
any
 
field
 
of 
 
human
 
activity.
 
 
Research
 
means
 
“studious
 
enquiry"
 
or
 
"thorough,
 
honest
 
and
 
impartial
 
study
 
conducted
 
by
 
trained
 
men
 
using
 
scientific
 
methods".
 
It
 
means
 
detailed
 
study
 
relating
 
to
 
a
 
particular
 
subject.
 
 
The
 
term
 
MR
 
is
 
used
 
extensively
 
in
 
modern
 
marketing
 
management.
 
It
 
acts
 
as
 
a
 
tool
 
for
 
accurate
 
decision
 
making
 
in
 
marketing
 
of 
 
goods
 
and
 
services.
 
It
 
is
 
also
 
useful
 
for
 
studying
 
and
 
solving
 
different
 
marketing
 
problems
 
faced
 
by
 
business
 
units.
 
.
 
Here,
 
the
 
details
 
(information
 
and
 
data)
 
of 
 
the
 
marketing
 
problem
 
are
 
collected
 
and
 
studied,
 
conclusions
 
are
 
drawn
 
and
 
suggestions/recommendations
 
are
 
made
 
to
 
solve
 
the
 
problem
 
quickly,
 
correctly
 
and
 
systematically.
 
In
 
MR/
 
marketing
 
problem
 
is
 
studied
 
in
 
depth
 
by
 
collecting
 
and
 
analyzing
 
all
 
relevant
 
information
 
and
 
solutions
 
are
 
suggested
 
to
 
solve
 
the
 
problem
 
relating
 
to
 
consumers,
 
product,
 
market
 
competition,
 
sales
 
promotion
 
and
 
so
 
on.
 
 
MR
 
is
 
a
 
special
 
branch
 
of 
 
marketing
 
management.
 
It
 
is
 
comparatively
 
of 
 
recent
 
in
 
origin.
 
MR
 
acts
 
as
 
an
 
investigative
 
arm
 
of 
 
a
 
marketing
 
manager.
 
It
 
suggests
 
possible
 
solutions
 
on
 
marketing
 
problems
 
for
 
the
 
consideration
 
and
 
selection
 
by
 
a
 
marketing
 
manager.
 
It
 
also
 
acts
 
as
 
an
 
important
 
tool
 
to
 
study
 
buyer
 
behavior,
 
changes
 
in
 
consumer
 
life
styles
 
and
 
consumption
 
patterns,
 
brand
 
loyalty
 
and
 
forecast
 
market
 
changes.
 
DEFINITIONS
 
OF
 
MARKETING
 
RESEARCH:
 
Let
 
us
 
now,
 
consider
 
some
 
definitions
 
of 
 
MR:
 
(1)
 
The
 
most
 
widely
 
accepted
 
definition
 
of 
 
marketing
 
research
 
is
 
given
 
by
 
American
 
Marketing
 
Association
 
(AMA).
 
The
 
AMA
 
has
 
defined
 
marketing
 
research
 
as
 
"the
 
systematic
 
gathering,
 
recording
 
and 
 
analyzing
 
of 
 
data
 
about 
 
 problems
 
relating
 
to
 
the
 
marketing
 
of 
 
goods
 
and 
 
services” 
 
(2)
 
According
 
to
 
Richard
 
D.
 
Crisp:
 
"Marketing
 
research
 
is
 
the
 
systematic,
 
objective
 
and 
 
exhaustive
 
search
 
 for 
 
and 
 
study 
 
of 
 
the
 
 facts
 
relevant 
 
to
 
any 
 
 problem
 
in
 
the
 
 field 
 
of 
 
marketing." 
 
(3)
 
According
 
to
 
Philip
 
Kotler:
 
"Marketing
 
research
 
is
 
systematic
 
 problem
 
analysis,
 
model 
 
building
 
and 
 
 fact 
 finding
 
 for 
 
the
 
 purpose
 
of 
 
improved 
 
decision
making
 
and 
 
control 
 
in
 
the
 
marketing
 
of 
 
goods
 
and 
 
services." 
 
(4)
 
Luck,
 
Wales
 
and
 
Taylor
 
have
 
defined
 
marketing
 
research
 
as
 
"the
 
application
 
of 
 
scientific
 
method 
 
to
 
the
 
solution
 
of 
 
marketing
 
 problems" 
 
 
 
Compiled
 
by
 
MANAGEMENT
 
PARADISE
 
TEAM.
 
Page 2
(5)
 
Green
 
and
 
Tull
 
have
 
defined
 
marketing
 
research
 
as
 
"the
 
systematic
 
and 
 
objective
 
search
 
 for 
 
and 
 
analysis
 
of 
 
information
 
relevant 
 
to
 
the
 
identification
 
and 
 
solution
 
of 
 
any 
 
 problem
 
in
 
the
 
 field 
 
of 
 
marketing." 
 
OBJECTIVE
 
OF
 
RESEARCH
 
The
 
purpose
 
of 
 
research
 
is
 
to
 
discover
 
answers
 
through
 
the
 
application
 
of 
 
scientific
 
procedures
.
 
The
 
main
 
aim
 
of 
 
research
 
is
 
to
 
find
 
out
 
the
 
truth
 
which
 
is
 
hidden
 
and
 
which
 
has
 
not
 
been
 
discovered
 
as
 
yet.
 
Though
 
each
 
research
 
study
 
has
 
its
 
own
 
specific
 
purpose,
 
we
 
may
 
think
 
of 
 
research
 
objectives
 
as
 
falling
 
into
 
number
 
of 
 
broad
 
grouping:
 
 
To
 
gain
 
familiarity
 
with
 
a
 
phenomenon
 
or
 
to
 
achieve
 
new
 
insights
 
into
 
it
 
(studies
 
with
 
this
 
object
 
in
 
view
 
are
 
termed
 
as
 
exploratory
 
or
 
formulative
 
research
 
studies.
 
 
To
 
portray
 
accurately
 
the
 
characteristics
 
of 
 
a
 
particular
 
individual,
 
situation
 
or
 
a
 
group
 
(studies
 
with
 
this
 
object
 
in
 
view
 
are
 
known
 
as
 
descriptive
 
research
 
studies);
 
 
To
 
determine
 
the
 
frequency
 
with
 
which
 
something
 
occurs
 
or
 
with
 
which
 
it
 
is
 
associated
 
with
 
something
 
else
 
(studies
 
with
 
this
 
object
 
in
 
view
 
are
 
known
 
as
 
diagnostic
 
research
 
studies).
 
 
To
 
test
 
a
 
hypothesis
 
of 
 
a
 
casual
 
relationship
 
between
 
variables
 
(such
 
studies
 
are
 
known
 
as
 
hypothesis
testing
 
research
 
studies).
 
CHARACTERISTICS
 
OF
 
MARKETING
 
RESEARCH:
 
(1)
 
Systematic
 
and
 
continuous
 
process:
 
MR
 
is
 
a
 
continuous
 
process.
 
This
 
is
 
natural
 
as
 
new
 
marketing
 
problems
 
are
 
bound
 
to
 
come
 
from
 
time
 
to
 
time
 
in
 
the
 
course
 
of 
 
marketing
 
of 
 
goods
 
and
 
services.
 
One
 
type
 
of 
 
research
 
is
 
not
 
adequate
 
to
 
resolve
 
all
 
marketing
 
problems.
 
Similarly,
 
new
 
research
 
projects
 
will
 
have
 
to
 
be
 
undertaken
 
to
 
solve
 
new
 
marketing
 
problems
 
and
 
challenges.
 
A
 
marketing
 
company
 
faces
 
new
 
marketing
 
problems
 
from
 
time
 
to
 
time.
 
For
 
facing
 
these
 
problems
 
marketing
 
research
 
activities
 
need
 
to
 
be
 
conducted
 
on
 
a
 
regular
 
basis.
 
A
 
marketing
 
company
 
has
 
to
 
conduct
 
MR
 
regularly
 
for
 
its
 
survival
 
&
 
growth
 
in
 
the
 
present
 
dynamic
 
marketing
 
environment.
 
(2)
 
Wide/comprehensive
 
in
 
scope
 
and
 
application:
 
MR
 
is
 
wide
 
in
 
scope
 
as
 
it
 
deals
 
with
 
all
 
aspects
 
of 
 
marketing
 
of 
 
goods
 
and
 
services.
 
It
 
is
 
more
 
than
 
 just
 
collecting
 
data
 
on
 
marketing.
 
Introduction
 
of 
 
new
 
products,
 
identification
 
of 
 
potential
 
markets,
 
selection
 
of 
 
appropriate
 
selling
 
techniques,
 
study
 
of 
 
market
 
competition
 
and
 
consumer
 
preferences,
 
introduction
 
of 
 
suitable
 
advertising
 
strategy
 
and
 
sales
 
promotion
 
measures,
 
are
 
some
 
areas
 
covered
 
by
 
MR.
 
It
 
plays
 
a
 
role
 
in
 
all
 
the
 
three
 
phases
 
of 
 
the
 
management
 
process
 
in
 
marketing:
 
planning,
 
implementation
 
and
 
evaluation.
 
(3)
 
Emphasizes
 
on
 
accurate
 
data
 
collection
 
and
 
critical
 
analysis:
 
In
 
MR
,
 
required
 
data
 
should
 
be
 
collected
 
objectively
 
and
 
accurately.
 
The
 
data
 
collected
 
must
 
be
 
reliable.
 
It
 
should
 
be
 
analyzed
 
in
 
a
 
systematic
 
manner.
 
This
 
will
 
provide
 
comprehensive
 
picture
 
of 
 
the
 
situation
 
and
 
possible
 
solutions.
 
(4)
 
Offers
 
benefits
 
to
 
sponsoring
 
company
 
and
 
consumers:
 
MR
 
is
 
useful
 
to
 
the
 
sponsoring
 
company.
 
It
 
raises
 
the
 
turnover
 
and
 
profit
 
of 
 
the
 
company.
 
It
 
also
 
raises
 
the
 
competitive
 
capacity
 
and
 
creates
 
goodwill
 
in
 
the
 
market.
 
It
 
enables
 
a
 
company
 
to
 
introduce
 
consumer
oriented
 
marketing
 
policies.
 
Consumers
 
also
 
get
 
agreeable
 
goods
 
and
 
more
 
satisfaction
 
due
 
to
 
MR
 
activities.
 
 
 
Compiled
 
by
 
MANAGEMENT
 
PARADISE
 
TEAM.
 
Page 3
(5)
 
Commercial
 
equivalent
 
of 
 
military
 
intelligence:
 
MR
 
is
 
the
 
commercial
 
intelligence
 
activity.
 
It
 
is
 
similar
 
to
 
military
 
intelligence
 
where
 
systematic
 
study
 
is
 
made
 
before
 
taking
 
any
 
military
 
action.
 
MR
 
acts
 
as
 
the
 
intelligence
 
tool
 
of 
 
marketing
 
management.
 
(6)
 
Tool
 
for
 
managerial
 
decisions:
 
MR
 
acts
 
as
 
a
 
tool
 
in
 
the
 
hands
 
of 
 
management
 
for
 
identifying
 
and
 
analyzing
 
marketing
 
problems
 
and
 
finding
 
out
 
solutions
 
to
 
them.
 
It
 
is
 
an
 
aid
 
to
 
decision
making.
 
It
 
suggests
 
possible
 
solutions
 
for
 
the
 
consideration
 
and
 
selection
 
by
 
managers.
 
MR
 
is
 
an
 
aid
 
to
 
 judgment
 
and
 
never
 
a
 
substitute
 
for
 
it.
 
(7)
 
Applied
 
type
 
of 
 
research:
 
MR
 
is
 
applied
 
knowledge.
 
It
 
is
 
also
 
called
 
'decisional
 
research
 
as
 
it
 
provides
 
specific
 
alternative
 
solutions
 
to
 
deal
 
with
 
a
 
specific
 
marketing
 
problem.
 
It
 
studies
 
specific
 
marketing
 
problem
 
and
 
suggests
 
alternative
 
solutions
 
and
 
possible
 
outcome
 
of 
 
each
 
alternative.
 
In
 
addition,
 
it
 
is
 
both
 
science
 
and
 
an
 
art.
 
MR
 
is
 
also
 
becoming
 
highly
 
professional
 
activity.
 
(8)
 
Reduces
 
the
 
gap
 
between
 
the
 
producers
 
and
 
consumers:
 
MR
 
is
 
an
 
essential
 
supplement
 
of 
 
modern
 
competitive
 
marketing.
 
It
 
is
 
useful
 
for
 
understanding
 
the
 
needs
 
and
 
expectations
 
of 
 
consumers.
 
It
 
reduces
 
the
 
gap
 
between
 
producers
 
and
 
consumers
 
and
 
adjusts
 
the
 
marketing
 
activities
 
to
 
suit
 
the
 
needs
 
of 
 
consumers.
 
(9)
 
Not
 
an
 
exact
 
science:
 
MR
 
is
 
both
 
science
 
and
 
an
 
art.
 
It
 
collects
 
information
 
and
 
studies
 
marketing
 
problem
 
in
 
a
 
scientific
 
manner.
 
The
 
information
 
collected
 
is
 
also
 
applied
 
to
 
real
 
lire
 
problem.
 
However,
 
MR
 
is
 
not
 
an
 
exact
 
science.
 
It
 
only
 
suggests
 
possible
 
solutions
 
and
 
not
 
the
 
exact
 
solution
 
to
 
marketing
 
manager
 
for
 
consideration
 
and
 
selection.
 
At
 
present,
 
MR
 
is
 
treated
 
as
 
a
 
professional
 
activity.
 
We
 
have
 
professional
 
agencies
 
(MR
 
agencies
 
or
 
advertising
 
agencies)
 
dealing
 
with
 
the
 
marketing
 
problems
 
of 
 
their
 
clients
 
on
 
commission
 
basis.
 
(10)
 
Use
 
of 
 
different
 
methods:
 
MR
 
can
 
be
 
conducted
 
by
 
using
 
different
 
methods.
 
Data
 
can
 
be
 
collected
 
through
 
survey
 
or
 
by
 
other
 
methods
 
like
 
observation
 
method
 
or
 
experimentation
 
method.
 
Even
 
computers
 
and
 
internet
 
are
 
used
 
for
 
data
 
collection.
 
The
 
researcher
 
has
 
to
 
decide
 
the
 
method
 
that
 
is
 
suitable
 
for
 
the
 
conduct
 
of 
 
research
 
project.
 
This
 
selection
 
is
 
important
 
as
 
the
 
use
 
of 
 
unsuitable
 
methods
 
affect
 
the
 
quality
 
of 
 
research
 
work.
 
(11)
 
Dynamic
 
character:
 
MR
 
is
 
dynamic
 
in
 
nature.
 
Its
 
scope
 
is
 
fast
 
expanding
 
along
 
with
 
the
 
new
 
developments
 
in
 
the
 
field
 
of 
 
marketing.
 
This
 
is
 
natural
 
as
 
MR
 
is
 
essentially
 
for
 
dealing
 
with
 
new
 
problems
 
and
 
challenges
 
in
 
the
 
field
 
of 
 
marketing.
 
In
 
addition,
 
developments
 
in
 
other
 
subjects
 
such
 
as
 
economics,
 
statistics,
 
computer
 
science,
 
sociology,
 
psychology,
 
cultural
 
anthropology
 
and
 
behavioral
 
sciences
 
also
 
bring
 
corresponding
 
changes
 
in
 
the
 
field
 
of 
 
MR.
 
New
 
methods,
 
new
 
techniques,
 
etc.,
 
are
 
used
 
while
 
conducting
 
the
 
research
 
activities.
 
This
 
suggests
 
that
 
MR
 
is
 
a
 
dynamic
 
and
 
progressive
 
subject
 
with
 
new
 
developments
 
taking
 
place
 
regularly.
 
(12)
 
Closely
 
connected
 
with
 
marketing
 
information
 
system:
 
Both
 
the
 
concepts
 
are
 
interrelated.
 
In
 
fact,
 
MR
 
is
 
one
 
component
 
of 
 
MIS.
 
Both
 
are
 
useful
 
for
 
solving
 
marketing
 
problems
 
and
 
for
 
accurate
 
and
 
quick
 
decision
making
 
in
 
the
 
field
 
of 
 
marketing.
 
(13)
 
Phenomenal
 
growth:
 
MR
 
has
 
made
 
a
 
phenomenal
 
growth
 
since
 
its
 
inception.
 
It
 
has
 
become
 
an
 
important
 
tool
 
in
 
the
 
hands
 
of 
 
management
 
(to
 
solve
 
marketing
 
problems)
 
along
 
with
 
the
 
advent
 
of 
 
consumer
oriented
 
philosophy
 
in
 
modern
 
business.
 
The
 
increasing
 
research
 
budgets
 
of 
 
companies
 
are
 
the
 
indicators
 
of 
 
its
 
tremendous
 
growth
 
in
 
recent
 
years.
 

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