INTRODUCTION
Marketing Research is "the process or set of processes that links the consumers, customers, and end users to the marketer through information. Marketing Research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process. It is the systematic gathering, recording, and Analysis of Qualitative And Quantitative Data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the Marketing Mix impacts Customer Behavior.
Meaning and Definition
Marketing research is the systematic problem analysis, model building and fact finding for the purpose of improved decision-marketing and control in the marketing of goods and services.
According To The American
According to Philip Kotlar
Marketing Association,..
Marketing research is the systematic gathering, recording and analyzing of data about problems relating to marketing of goods and services .
Steps of Marketing Research Process
Step 1: Problems Definition
In this first step the researcher has to identify the problem that needs to be investigated.
Defining a marketing research problem can be difficult. A novice researcher could easily interpret symptoms or causes as a problem.
The research design is the blueprint of a marketing research project. The research design considers what research methods are best for collecting data and which are most suitable for analyzing the data collected. There are two broad types of research: a. Quantitative. b. Qualitative.
Primary data: Information or statistics observed and recorded
or collected directly from respondents for the first time during a marketing research study Primary information provides information of current needs but is expensive and time consuming
Secondary data: Information already collected or
published and compiled inside or outside the organisation Secondary information
quick, relatively inexpensive check that the information is Relevant,
Step 4 : Data analysis
A researcher will also have to decide what method of analysis will be used to make sense of the data. Depending on the type of data involved, quantitative or qualitative analyses are employed to interpret the data.
The final stage of the marketing research process involves transcribing, coding, organizing, interpreting and verifying the data collected.
The final report should clearly state the research problem and outline research objectives.
o Systematic process: Marketing Research is a systematic process to identify
and to solve marketing problems.
o Scope:
Product Research Promotion Research Pricing Research Place Research
o Continuous in Nature: Marketing Research is continuous in nature as
there is need for marketing research.
o Bridges Company-Customer Gap: Marketing research bridges the gap
between the producers and the consumers. to achieve marketing objectives.
o Marketing Mix Decisions: Effectives Marketing-mix enables the firm o Methods of Data Collection: Survey Method, Experimentation Method,
Observation Method.
According to Philip
Kotlar
Marketing information system (MIS) consists of people, equipment and procedures to gather, sort analyses evaluate and distribute needed timely and accurate information to marketing decision makers. Marketing decision makers use the data to identify and solve marketing related problems.
Features of Marketing Information System
Systematic Process: In a process of collecting information, various types
of information is gathered. In MIS this entire systematicness is followed.
Component of MIS: The MIS can be designed with the involvement of the
following elements. Internal company records. Marketing intelligence system. Marketing research etc.
Facilitates Decision Making: MIS aids in decision Making relating to
various elements of marketing-mix such as product designing, pricing, promotion and distribution.
Future Oriented: MIS emphasis more on future oriented information
rather than past information.
Regular Supply of information: To make effective decisions,MIS
supply regular information on a continuous basis.
Importance of Marketing Information System
Helps to recognise Trends: MIS helps managers to recognise market
trends.
Facilitates Marketing Planning and Control: Effective marketing
planning is required in terms of product Planning, Pricing, Promotion and Distribution.
Quick Supply of Information: Timely supply of Marketing
Information, the marketing managers can make quick and effective decisions.
Tapping of Business Opportunities: MIS makes it possible to tap
business opportunities as it can supply the required and reliable data. the events that are happening I the external environment. centralised MIS.
Provide Marketing Intelligence: Marketing Intelligence refers to
Integration of Information: Integration is possible if there is a
Kotlers Information Flows
Marketing intelligence Internal marketing information
Firm Environment
Marketing communications
- By Mithun Kanojia
