What Is Marketing Research? Important Definition Features

What is Marketing Research? Meaning

blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Marketing Research has ii words, viz., marketing in addition to research.

1. Marketing agency buying in addition to selling activities.
2. Research agency a systematic in addition to consummate report of a problem. It is done past times experts. It uses scientific methods.

Thus, nosotros tin say, “Marketing Research is a systematic method of collecting, recording in addition to analyzing of data, which is used to solve marketing problems.”

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A fellowship faces many marketing problems. It faces problems most consumers, product, marketplace competition, sales promotion, etc. Marketing query helps to solve these problems.

Marketing query is a systematic process. It start collects information (information) most the marketing problem. Secondly, it records this data. Then it analysis (studies) this information in addition to draws conclusions most it. After that, it gives suggestions (advice) for solving the marketing-problem.

So, marketing query helps to solve the marketing problems quickly, correctly in addition to systematically.

Marketing query collects total information most consumers. It finds out the needs in addition to expectations of the consumers. So the fellowship produces the goods according to the needs in addition to expectations of the consumers.

Marketing query helps the fellowship to brand its production in addition to marketing policies. It helps the fellowship to innovate novel products inwards the market. It helps to position new-markets.

Marketing query also collects total information most the competitors. The fellowship uses this information to contend competition. It also helps the marketing director to possess got decisions.

Marketing query is a exceptional branch in addition to somebody of 'Marketing Management'. It is of recent root in addition to widely used past times manufacturers, exporters, distributors in addition to service organisations.

Marketing query is really systematic, scientific, objective in addition to organised. It has a broad scope. It includes production research, consumer research, packaging research, pricing research, etc.

Marketing query is a continuous process. It has a few limitations. However, a fellowship cannot live in addition to succeed without it.

Definition of Marketing Research

There are many definitions of marketing research. Some of import ones are:

1. According to American Marketing Association (AMA),

“Marketing Research is the systematic gathering, recording in addition to analysing of information most problems relating to the marketing of goods in addition to services.”

2. According to Philip Kotler,

“Marketing query is a systematic job analysis, model edifice in addition to fact finding for the role of improved decision-making in addition to command inwards the marketing of goods in addition to services.”

3. According to Paul Green in addition to Donald Tull,

“Marketing query is the systematic in addition to objective search for, in addition to analysis of, information relevant to the identification in addition to solution of whatsoever job inwards the plain of marketing.”

4. According to David Luck, Donald Taylor in addition to Hugh Wales,

“Marketing Research is the application of scientific methods inwards the solution of marketing problems.”

Read next articles to know to a greater extent than on the concept of marketing research:

1. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Objectives of marketing research.
2. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Functions of marketing research.
3. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Need for marketing research.
4. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Importance of marketing research.
5. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Limitations of marketing research.
6. blogspot.com//search?q=marketing-marketing-mix-4-ps-of">Distinguish betwixt MIS in addition to marketing research.

Features of Marketing Research

The salient characteristics or features of marketing query are equally follows:

1. Wide in addition to comprehensive scope - Marketing query has a really broad scope. It includes production research, packaging research, pricing research, marketplace research, sales research, etc. It is used to solve marketing problems in addition to to possess got marketing decisions. It is used to brand marketing policies. It is also used to innovate novel products inwards the marketplace in addition to to position novel markets. Marketing query is used to select channels of distribution, inwards advertising strategy, for sales advertisement measures, etc.
2. Systematic in addition to scientific - Marketing query is conducted inwards a step-by-step manner. It is conducted inwards an orderly fashion. Therefore, it is systematic. Marketing query uses scientific methods. Thus, it is also scientific.
3. Science in addition to art : H5N1 Science collects cognition (data) acre an Art uses this cognition for solving problems. Marketing query start collects data. It in addition to thus uses this information for solving marketing problems. Therefore, it is both, a Science in addition to an Art.
4. Collects in addition to analyzes data - Marketing query gathers information accurately in addition to objectively. It start collects reliable information in addition to and thus analyses it systematically in addition to critically.
5. Continuous in addition to dynamic process - The fellowship faces marketing problems throughout the year. So, Marketing query is conducted continuously. It continuously collects up-to-date information for solving the marketing problems. Large companies possess got their ain marketing query departments. They acquit Marketing query continuously throughout the year. Therefore, Marketing query is a continuous process. It is a dynamic procedure because it goes on changing. It does non stay static (the same). It uses novel methods in addition to techniques for collecting, recording in addition to analyzing the data.
6. Tool for decision-making - The marketing director has to possess got many decisions. For this, he requires a lot of data. Marketing query provides right in addition to up-to-date information to the marketing manager. This helps him to possess got quick in addition to right decisions. Therefore, Marketing query is an of import tool for decision-making.
7. Benefits fellowship in addition to consumers - Marketing query is useful to the fellowship inwards many ways. It increases the sales in addition to profits of the company. It helps the fellowship to contend contest in addition to boost its goodwill inwards the market. It reduces the marketing risks. In short, Marketing query brings success to the company. It also brings the fellowship closer to the consumers. It gives convenience in addition to satisfaction to the consumers.
8. Similar to military machine intelligence - Marketing query is a commercial intelligence-gathering activity. It industrial plant like to military machine intelligence. Marketing tidings start makes a systematic report in addition to alone in addition to thus takes a line of piece of work concern action. Marketing query collects reliable information most the consumers, the competitors, the market, etc. This information is in addition to thus organised in addition to used for planning, decision-making in addition to job solving. This information is also farther used for introducing novel products in addition to services inwards the market.
9. Applied research - Applied query is used for solving problems. Marketing query is used for solving marketing problems. Therefore, nosotros tin nation that, Marketing query is also an applied research. It has a practical value because it is used for solving acquaint in addition to time to come problems.
10. Connected amongst MIS - Marketing query is a constituent of Marketing Information System (MIS). Marketing query in addition to MIS are interrelated. Both are used to solve marketing problems in addition to to possess got marketing decisions.
11. Reduces gap betwixt producers in addition to consumers - Marketing query informs producers most the needs in addition to wants of the consumers. The producers arrive at goods according to the needs in addition to demands of the consumers. This brings satisfaction to the consumers in addition to inwards render producers brand goodness profits. So, Marketing query reduces the gap betwixt the producers in addition to the consumers.
12. Uses dissimilar methods - Marketing query uses 3 methods for collecting data, viz., Survey Method, Experiment Method in addition to Observation Method. All 3 methods are scientific. The researcher has to job a suitable method for collecting a reliable data.
13. Has few limitations - Marketing query has few limitations too. It is non an exact science. So, it does non plough over accurate results. It provides suggestions in addition to non solutions. It is also a costly in addition to time-consuming process.
14. Accurate information collection in addition to critical analysis - Marketing query gives much importance to accurate information collection in addition to its critical analysis. Thus, inwards a Marketing research, the information must live start collected accurately. That is, collected information or gathered information must live accurate, reliable in addition to relevant. Later, this information must live systematically in addition to critically examined earlier making whatsoever decisions.