Scribd
Upload
266 views2 pages

Market Research Notes

Marketing research is the systematic gathering and analysis of data about issues relating to marketing products and services. It helps businesses make better decisions by providing relevant, accurate and timely information. Marketing research is broader than market research as it also examines new products and distribution methods. While market research provides useful data, businesses gain competitive advantages by creatively using market insights. The intelligent application of marketing research findings is key to business success.

Uploaded by

Nitin Gopal Gupta
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
266 views2 pages

Market Research Notes

Marketing research is the systematic gathering and analysis of data about issues relating to marketing products and services. It helps businesses make better decisions by providing relevant, accurate and timely information. Marketing research is broader than market research as it also examines new products and distribution methods. While market research provides useful data, businesses gain competitive advantages by creatively using market insights. The intelligent application of marketing research findings is key to business success.

Uploaded by

Nitin Gopal Gupta
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 2

Market research and marketing research are often confused.

'Market' research
is simply research into a specific market. It is a very narrow concept. 'Marketing'
research is much broader. It not only includes 'market' research, but also areas
such as research into new products, or modes of distribution such as via the
Internet.

Marketing research is a critical part of such a marketing intelligence system; it


helps to improve management decision making by providing relevant, accurate, and
timely (RAT) information. Every decision poses unique needs for information, and
relevant strategies can be developed based on the information gathered through
marketing research in action.

Too often, marketing research is considered narrowly as the gathering and


analyzing of data for someone else to use. Firms can achieve and sustain a
competitive advantage through the creative use of market information. Hence,
marketing research is defined as an information input to decisions, not simply the
evaluation of decisions that have been made. Market research alone, however, does
not guarantee success; the intelligent use of market research is the key to 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 is the function that links the consumer, customer,


and public to the marketer through information - information used to
identify and define marketing opportunities and problems; generate,
refine, and evaluate marketing actions; monitor marketing performance;
and improve understanding of marketing as a process. Marketing research
specifies the information required to address these issues, designs the
methods for collecting information, manages and implements the data
collection process, analyzes, and communicates the findings and their
implications."

Marketing research is the systematic gathering, recording, and analysis of data


about issues relating to marketing products and services. The term is commonly
interchanged with market research; however, expert practitioners may wish to draw
a distinction, in that market research is concerned specifically with markets, while
marketing research is concerned specifically about marketing processes.[1]

Marketing research is often partitioned into two sets of categorical pairs, either by
target market:

• Consumer marketing research, and

• Business-to-business (B2B) marketing research

Or, alternatively, by methodological approach:


• Qualitative marketing research, and

• Quantitative marketing research

Consumer marketing research is a form of applied sociology that concentrates on


understanding the preferences, attitudes, and behaviors of consumers in a market-
based economy, and it aims to understand the effects and comparative success of
marketing campaigns. The field of consumer marketing research as a statistical
science was pioneered by Arthur Nielsen with the founding of the ACNielsen
Company in 1923.[2]

Thus, marketing research may also be described as the systematic and objective
identification, collection, analysis, and dissemination of information for the purpose
of assisting management in decision making related to the identification and
solution of problems and opportunities in marketing.[3] The goal of marketing
research is to identify and assess how changing elements of the marketing mix
impacts customer behavior.

Marketing research is not an immediate or an obvious path to finding solutions to all


managerial problems. A manager who is faced with a particular problem should not
instinctively resort to conducting a marketing research to find a solution to the
problem. A manager should consider several factors before ordering marketing
research. Sometimes it is best not to conduct marketing research. Hence, the
primary decision to be made is whether or not market research is called for in a
particular situation. Factors that influence this initial decision include the following.

� Relevance

� Type and Nature of Information Sought

� Timing

� Availability of Resources

� Cost-Benefit Analysis

International marketing research can be defined as Marketing research


conducted either simultaneously or sequentially to facilitate marketing decisions in
more than one country. As such, the basic functions of marketing research and the
research process do not differ from domestic and multicountry research; however,
the international marketing research process is much more complicated and the
international marketing researcher faces problems that are different from those of a
domestic researcher.

You might also like