Marketing Research
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Marketing Research

Marketing Research Marketing research refers to the systematic gathering, recording and analysis of data about marketing problems with the aim of providing information useful for decision-making in the field of marketing. Te scope of marketing research is very wide as it covers all the areas having a direct bearing on the marketing function. Research concerning the market, products, prices, promotion and distribution, all form parts of marketing. Marketing research is much wider than market research.

Marketing research

Functions of research- In the modern days of customer-oriented marketing, research and planning have become very vital functions of marketing. The focus is on providing the maximum possible value to customers for their money. Satisfaction of customer is possible only when the wants and expectations of customers are correctly understood and products and services which meet these wants and expectations are developed. Research is required to provide a sound database for taking the right marketing decisions at the right time.

Marketing Research

Marketing research refers to the systematic gathering, recording and analysis of data about marketing problems with the aim of providing information useful for decision-making in the field of marketing. Te scope of marketing research is very wide as it covers all the areas having a direct bearing on the marketing function. Research concerning the market, products, prices, promotion and distribution, all form parts of marketing. Marketing research is much wider than market research.

Marketing research is not simply a fact finding or information gathering exercise. Rather Marketing research is a problem solving and action recommending process. Marketing Research is the systematic study of facts and problems related to marketing. After finding the problem marketing research also recommends solution for solving the problem.

Marketing research is the intelligence service of business

Marketing research seeks to provide accurate and timely information on the basis of which marketing executives can take the right decisions. Marketing research helps an enterprise in various ways. The success of a business lies in the efficiency of the marketing research team. Marketing research helps to identify and understand the target market. New products are test launched under the supervision of marketing research team. Marketing research evaluates sales and helps the production team by forecasting sales. Sound marketing research ascertains the firm’s standing in the market and also judges the effectiveness of marketing policies and programs. Marketing research monitors the environment of marketing.

A sound marketing research team is required for the success of a business enterprise. Without a proper marketing research a commercial organization can never be profitable. For the many functions of marketing research it is termed as the intelligence service of a business enterprise.

 

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