Marketing Research- An Overview : Marketing Research- An Overview Defining…… : Defining…… Marketing Research is a systematic and objective study of problems pertaining to the marketing of goods and services. It is not restricted to any particular area of marketing but is applicable to all its phases and aspects.
The traditional definition of Marketing Research by American Marketing Association (AMA) “the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services.”
Also defined as the function which links the consumer, customer and public to the marketer through information used to identify and define marketing opportunities and problems. It involves the use of surveys, tests, and statistical studies to analyze consumer trends and to forecast the size and location of markets for specific products or services. Market Research and Marketing Research are often confused. : 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 Process : Marketing Research Process Classification of marketing Research Data : Classification of marketing Research Data Primary Vs secondary Data : Primary Vs secondary Data Primary data are originated by a researcher for the
specific purpose of addressing the problem at hand.
Secondary data are data which have already been
collected for purposes other than the problem at hand. These data can be located quickly and inexpensively. Types of marketing Research : Types of marketing Research Research Design : Research Design A research design is a framework or blueprint for conducting the marketing research project.
It details the procedures necessary for obtaining the information needed to structure or solve marketing research problems. Classification of marketing Research designs : Classification of marketing Research designs Comparison of basic Research Designs : Comparison of basic Research Designs Marketing Information System : Marketing Information System A marketing information system is a continuing and interacting structure of people, equipment and procedures to gather, sort, analyze, evaluate, and distribute pertinent, timely and accurate information for use by marketing decision makers to improve their marketing planning, implementation, and control". A Marketing Information System has four components: : A Marketing Information System has four components: The Internal Reporting System: include orders received, inventory records and sales invoices
Marketing Research Systems: takes the form of purposeful studies either ad hoc or continuous.
The Marketing Intelligence System : is less specific in its purposes, is chiefly carried out in an informal manner and by managers themselves rather than by professional marketing researchers
The Marketing Models Functions of Marketing Research : Functions of Marketing Research To provide a point at which all the buying of research is made, so that there is one point to manage it to reduce overlap and duplication.
To provide a centre of expertise for the management of the purchasing of research.
To manage the supplier-buyer interface .
To ensure that the research purchased has a design appropriate for the job
To manage the research process from inception to results and further.
To help with the integration of different information sources to a common end.
To act as a custodian of the marketing knowledge and history of the company’s brands.
To provide a single place where market research reports are kept and where access to them is available to the whole organization.
To help with the creation of an information climate for the company with respect to the markets in which it trades. Thank you : Thank you