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Marketing Research

Marketing research is the function that links consumers and customers to marketers through information. This information is used to identify marketing opportunities and problems, develop and evaluate marketing actions, monitor performance, and improve understanding of the marketing process. The marketing research process involves identifying the research problem, conducting situational analysis and informal investigation, planning and conducting a formal investigation through methods like surveys and experiments, analyzing and interpreting the collected data, and summarizing findings in a written report to help management make effective decisions. Marketing research is important as it helps with planning, problem solving, controlling marketing activities, understanding markets and consumers, and aiding decision making.

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Carmilleah Freyjah
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600 views9 pages

Marketing Research

Marketing research is the function that links consumers and customers to marketers through information. This information is used to identify marketing opportunities and problems, develop and evaluate marketing actions, monitor performance, and improve understanding of the marketing process. The marketing research process involves identifying the research problem, conducting situational analysis and informal investigation, planning and conducting a formal investigation through methods like surveys and experiments, analyzing and interpreting the collected data, and summarizing findings in a written report to help management make effective decisions. Marketing research is important as it helps with planning, problem solving, controlling marketing activities, understanding markets and consumers, and aiding decision making.

Uploaded by

Carmilleah Freyjah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Marketing Research Overview
  • The Marketing Research Process
  • Importance of Marketing Business

Marketing

Research
Marketing research is the function linking
the consumer, customer and public to the
marketer through information - information
used: to identify and define marketing
opportunities and problems; to generate,
refine and evaluate marketing actions; to
monitor marketing performance; and to
improve understanding of the marketing
process.
The Marketing Research Process
The Marketing Research Process

1. Identification and definition of


Research Problem involves:
• Identification of Research Problem
• Laying down objectives,
• Determining the extent of information
required.
The Marketing Research Process
2. Conducting situational analysis and informal
investigation – situational analysis involves
collecting information regarding business
environment, market situation, competitions and
industry surrounding the problem in general. An
informal investigation includes an investigation
with the people outside the organization like
suppliers, wholesalers, consumers, advertising
agencies etc. this is done to determine whether a
detailed study in necessary and feasible or not.
The Marketing Research Process
3. Planning and conducting formal investigation – it
involves the following:
• Preparing research design – exploratory, descriptive,
casual
• Selecting the sources of information – primary data or
secondary data
• Deciding methods of data collection –
survey, observation, experimentation, online
survey, etc.
• Planning the Sample Frames, Sample size, and
Questionnaire
• Collecting the data – survey, observation or
experimentation
The Marketing Research Process

4. Analyzing and Interpreting


Data – it involves classification,
tabulation and interpretation of the
data collected. Statistical
techniques are used to draw
conclusions and make
recommendations of report.
The Marketing Research Process

5.Summarizing the findings and


preparing a research report – The last
step involves preparation of a written
report that helps the management to
make effective decisions based on the
finding and recommendations of the
report.
Importance of Marketing Business

 It helps in formulation of marketing plans,


policies and strategy;
 It helps in Problem solving and Decision
making;
 It acts as a controlling technique for marketing
activities;
 It helps to understand market complications and
opportunities; and
 It aids in understanding consumer behavior and
consumption patterns.

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