What Is Marketing Research? Pregnant Definition Features

What is Marketing Research? Meaning

Marketing Research has ii words, viz., marketing together with research.

Marketing agency buying together with selling activities.
Research agency a systematic together with consummate report of a problem. It is done past times experts. It uses scientific methods.

Thus, nosotros tin say, “Marketing Research is a systematic method of collecting, recording together with analyzing of data, which is used to solve marketing problems.”

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

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

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

Marketing query collects total information nearly consumers. It finds out the needs together with expectations of the consumers. So the society produces the goods according to the needs together with expectations of the consumers.

Marketing query helps the society to brand its production together with marketing policies. It helps the society to innovate novel products inward the market. It helps to position new-markets.

Marketing query also collects total information nearly the competitors. The society uses this information to contend competition. It also helps the marketing managing director to own got decisions.

Marketing query is a exceptional branch together with mortal of 'Marketing Management'. It is of recent rootage together with widely used past times manufacturers, exporters, distributors together with service organisations.

Marketing query is really systematic, scientific, objective together with 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 society cannot travel together with 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 together with analysing of information nearly problems relating to the marketing of goods together with services.”

2. According to Philip Kotler,

“Marketing query is a systematic work analysis, model edifice together with fact finding for the utilization of improved decision-making together with command inward the marketing of goods together with services.”

3. According to Paul Green together with Donald Tull,

“Marketing query is the systematic together with objective search for, together with analysis of, information relevant to the identification together with solution of whatever work inward the champaign of marketing.”

4. According to David Luck, Donald Taylor together with Hugh Wales,

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

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

Features of Marketing Research

The salient characteristics or features of marketing query are equally follows:

Wide together with comprehensive scope - Marketing query has a really broad scope. It includes production research, packaging research, pricing research, marketplace research, sales research, etc. It is used to solve marketing problems together with to own got marketing decisions. It is used to brand marketing policies. It is also used to innovate novel products inward the marketplace together with to position novel markets. Marketing query is used to select channels of distribution, inward advertising strategy, for sales advertisement measures, etc.
Systematic together with scientific - Marketing query is conducted inward a step-by-step manner. It is conducted inward an orderly fashion. Therefore, it is systematic. Marketing query uses scientific methods. Thus, it is also scientific.
Science together with art : H5N1 Science collects cognition (data) spell an Art uses this cognition for solving problems. Marketing query start collects data. It together with then uses this information for solving marketing problems. Therefore, it is both, a Science together with an Art.
Collects together with analyzes data - Marketing query gathers information accurately together with objectively. It start collects reliable information together with and then analyses it systematically together with critically.
Continuous together with dynamic process - The society 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 own got their ain marketing query departments. They bear 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 stay static (the same). It uses novel methods together with techniques for collecting, recording together with analyzing the data.
Tool for decision-making - The marketing managing director has to own got many decisions. For this, he requires a lot of data. Marketing query provides right together with up-to-date information to the marketing manager. This helps him to own got quick together with right decisions. Therefore, Marketing query is an of import tool for decision-making.
Benefits society together with consumers - Marketing query is useful to the society inward many ways. It increases the sales together with profits of the company. It helps the society to contend contest together with boost its goodwill inward the market. It reduces the marketing risks. In short, Marketing query brings success to the company. It also brings the society closer to the consumers. It gives convenience together with satisfaction to the consumers.
Similar to armed services intelligence - Marketing query is a commercial intelligence-gathering activity. It industrial plant like to armed services intelligence. Marketing news start makes a systematic report together with alone together with then takes a concern action. Marketing query collects reliable information nearly the consumers, the competitors, the market, etc. This information is together with then organised together with used for planning, decision-making together with work solving. This information is also farther used for introducing novel products together with services inward the market.
Applied research - Applied query is used for solving problems. Marketing query is used for solving marketing problems. Therefore, nosotros tin tell that, Marketing query is also an applied research. It has a practical value because it is used for solving acquaint together with hereafter problems.
Connected amongst MIS - Marketing query is a gene of Marketing Information System (MIS). Marketing query together with MIS are interrelated. Both are used to solve marketing problems together with to own got marketing decisions.
Reduces gap betwixt producers together with consumers - Marketing query informs producers nearly the needs together with wants of the consumers. The producers create goods according to the needs together with demands of the consumers. This brings satisfaction to the consumers together with inward render producers brand goodness profits. So, Marketing query reduces the gap betwixt the producers together with the consumers.
Uses dissimilar methods - Marketing query uses 3 methods for collecting data, viz., Survey Method, Experiment Method together with Observation Method. All 3 methods are scientific. The researcher has to utilization a suitable method for collecting a reliable data.
Has few limitations - Marketing query has few limitations too. It is non an exact science. So, it does non plough over accurate results. It provides suggestions together with non solutions. It is also a costly together with time-consuming process.
Accurate information collection together with critical analysis - Marketing query gives much importance to accurate information collection together with its critical analysis. Thus, inward a Marketing research, the information must live start collected accurately. That is, collected information or gathered information must live accurate, reliable together with relevant. Later, this information must live systematically together with critically examined earlier making whatever decisions.