What is marketing research?

It is the process of gathering,

analyzing, and interpreting
information about a market, a
product, or service to be offered for
sale in a particular market condition.
MARKETING RESEARCH PROCESS
(Pagoso and Young, 2016)

1. Identifying the research problem. This often

the hardest step. In this stage, the marketing
manager and the researcher work closely
together to define a problem carefully and agree
on the research objectives.
2. Setting the research objectives. Once the main
and minor problems have been carefully defined
both the manager and the researcher can now set
the research objectives. These objectives are
effective market research goals that will guide the
entire conduct of the research process.
3. Developing the research plan. In determining
the needed information, the researcher can
gather secondary data, primary data or both.
Secondary data consists of information that
already exists somewhere having been collected
for one (1) reason or another. Primary data
consists of information collected by the
researcher or researchers themselves for the
specific purpose at hand.
4. Implementing the research plan. This involves
collecting, processing and analyzing data and
information.
5. Interpreting and reporting the findings. The
researcher interprets the findings, draws conclusions,
and reports them to the management.
6. Conducting information analysis . Information
gathered requires more analysis. Managers need more
help to apply it to marketing problems and decisions.
AREAS OF MARKETING
RESEARCH
• Consumer Research – deals with consumers and their problems and
the solutions to these problems, to better relations between them
and the marketing unit.
• Product or service research – this research covers product planning
and development.
• Market research – this is to do with the “structure of consumers”
deciding the demand force and other forces influencing “consumer
strength”.
• Sales research – this covers the problems
relating to the sale of products of a given firm.
• Pricing research – all questions relating to
consumer’s ability to pay for the products or
services, are studied under pricing research.
• Motivation research – this is a qualitative
research, which deals with why people buy or
don’t buy a product or service.
• Distribution research – this involves two (2) aspects.
Channel research and physical distribution research.
Channel research – has to do with the possible
routes, through which the goods and services reach the
consumers.
Physical distribution research – this involves
actuarial movements of goods through the systems
of transport and warehousing.
• Advertising research – this involves a
communication mix which studies marketing
problems and their solutions.
• Policy research – this is a study of policies in
various spheres of an organization.
• Competitive research – this tries to discover
how consumers perceive and experience a
product or service offering in relation to the
competitor’s products or services.
• Environmental research – this research focuses on
external factors such as economic, social, political,
and technological which are having, or will have an
impact on the product or service in some manner.
• Trend research – this consists of (2) two types:
Quantitative – increase in customer preferences,
methods of purchase, usage, or frequency of
purchase.
Qualitative – changes in consumer attitudes,
tastes, interests, benefits sought, etc.
 Types of Marketing Research
• Primary marketing research – this is a collection of data for
the first time. It is original and is collected for a specific
purpose, or to solve a specific problem. It is expensive, and
time consuming, but is more focused than secondary
research.
• Secondary marketing research or desk research – this is
relatively cheap, and can be conducted quite quickly.
However, it tends to have been collected for reasons other
than for the problem or objective at hand. Hence it may be
untargeted, and difficult to use to make comparisons.
 What is marketing strategy?
It is a process or model to allow a
company or organization to focus limited
resources on the best opportunities to
increase sales and thereby achieve a
sustainable competitive advantage.
 Types of Marketing Strategies (Pal, 2016)
• Social Marketing – refers to the design, implementation, and
control of programs to increase the acceptability of a social
cause or practice among people.
• Augmented Marketing – it refers to providing additional
services by way of innovative offerings and benefits t the
customers to increase his level of satisfaction.
• Direct Marketing – marketing through various advertising
media that interact with consumers, generally calling for the
consumer to make direct response.
• Relationship Marketing- Marketing through
creating, maintaining, and enhancing strong long
term relationships with customers in order to
win his loyalty.
• Service Marketing- it is applying the concepts,
tools, and techniques of marketing to services
such as banking, insurance, retailing, and
educational.
• Person Marketing – it consists of activities undertaken
to create, maintain, or change attitudes or behavior
towards particular people such as politicians, sports
stars, film stars, and professionals to promote their
careers and income.
• Organization Marketing – it consists of activities
undertaken to create. Maintain, or change attitudes
and behavior of target audiences towards an
organization.
• Place Marketing- involves activities undertaken to
create, maintain, or change attitudes towards
particular places.
• Differential Marketing – a market-coverage strategy in
which a firm decides to target different markets
through different strategies or offers.
• Concentrated Marketing – a market-coverage strategy
in which a firm focuses on only one or few markets.
• Synchro Marketing – it refers to balancing the
fluctuations in irregular demand for a product
due to seasons, timings, etc. through flexible
pricing, promotion, and other incentives.
• De-marketing- are marketing strategies to
reduce demand temporarily or permanently, not
to destroy demand but only to shift it.
References:
Kumar, P.(2010). Marketing of Hospitality and Tourism Services. Tata
Mcgraw-Hill Education Private Limited.

Pal, P. (n.d.).12 Different Types of Marketing Strategy and Techniques.

Retrieved January 22, 2016. from https://www.publishyourarticles.net/