Difference Betwixt Marketplace Interrogation Vs Marketing Research

Difference Between Market Research vs Marketing Research

Following icon shows v of import points of comparing used to honor out the departure betwixt Market Research vs Marketing Research (MR).

Image credits © Prof. Mudit Katyani.

Distinguish betwixt marketplace enquiry in addition to marketing enquiry is based on next v points:

1. Meaning of marketplace enquiry in addition to marketing enquiry (MR).
2. Their prime number or principal objective.
3. Limited or broad scope.
4. Their relation or is a branch of.
5. Independent or not, narrow or broad term.

Now let's differentiate marketplace enquiry in addition to marketing enquiry (MR) on inwards a higher house points.

1. Meaning :
   1. Market enquiry collects information close market, marketplace competition, marketplace trends, marketplace involve in addition to supply, etc. It finds out answers for the next questions:
      • What to sell?
      • Where to sell?
      • When to sell? and
      • How much to sell?
      It too does sales forecasting. It estimates the involve for novel products. It too fixes sales territories in addition to sales quotas.
   2. Marketing enquiry collects in addition to analyses information for solving marketing problems. It too aids inwards taking marketing decisions. It facilitates inwards controlling the marketing activities. It is really systematic, scientific in addition to objective.
2. Objective :
   1. The principal objective of marketplace enquiry is to:
      • Study the entire market, i.e. its nature, size, location, involve potential, etc.
      • Fix sales territories in addition to sales quotas.
   2. The principal objective of marketing enquiry (MR) is to:
      • Solve the marketing problems.
      • Find out acquaint in addition to hereafter marketing opportunities.
3. Scope :
   1. The ambit of marketplace enquiry is limited. It alone studies the market.
   2. The ambit of marketing enquiry (MR) is really wide. It covers all areas of marketing. It includes:
      • Product research,
      • Packaging research,
      • Pricing research,
      • Market research,
      • Sales research, etc.
      It is used:
      • For solving marketing decision,
      • For taking marketing policies,
      • To pick out marketing channels, advertising agency, sales advertisement measures, etc.
4. Relation :
   1. Market enquiry is a branch of marketing research.
   2. Marketing enquiry is a branch of Marketing Information System (MIS).
5. Independent :
   1. Market enquiry is non independent. It is a narrow term.
   2. Marketing enquiry is independent. It is a really broad in addition to broad term.