Marketing Research:
According to marketing intelligence information, managers develop a strategic plan about general customers, competitors & present market place happenings. They also need marketing information & customers insights.
Marketing research helps managers & marketers to do their work very well define. Marketing research is actually systematic collection ,design , analysis & reporting of relevant data to a specific marketing situation.
Every companies use marketing research in a wide variety of situation like marketers insights into customers motivation, purchase behavior & satisfaction . Through rhis research, they can measure market potential & share ; measure the effectiveness of pricing, product ,distribution & promotion activities.
Some companies have their own research department that work with marketing research projects. Some companies hire outside research specialists to consult the management. This specialist warn specific problems & create a way of opportunities.
The marketing research process has four steps like:-
1. Defining the problem & research objectives;
2. Developing the research plan for collecting information;
3. Implementing the research plan - collecting & analyzing the data;
4. Interpreting & reporting the findings.
Here, I'll discussion first steps with examples. Another two steps' ll discussion in the next post.
Defining the problem & research objects:
First work for a manager & researcher is to define the problem. Moreover, manager can understand best for which information is needed & researcher can best understand marketing research & how to obtain the information. Manager may find out something may wrong but not the causes.
A marketing research has three types of objectives.
1. Exploratory research
2. Descriptive research
3. Causal research
Exploratory research is all about gathering preliminarily information that helps define the problem & suggest hypothesis.
Descriptive research is all about defining marketing problems, situations, market potential for a products or the demographics & attitudes of consumers.
Casual research is to test hypothesis about cause & effect relationships.
This problem & research objectives guides the entire research process.
Developing the reaearch plan:
After defining the problems, they must determine the needed information ,develop a plan for gathering it efficienly. Like demographic , economic & lifestyle characteristics of current products or brands; characteristics & using patterns of the broader population; must adopt a new product line; forecasts of sales & profit for new & current product.
Doing this , managers need primary & secondary data . Primary data consists of information collected for the specific purpose at hand & secondary data consists of information that already exists for using another purpose.
According to marketing intelligence information, managers develop a strategic plan about general customers, competitors & present market place happenings. They also need marketing information & customers insights.
Marketing research helps managers & marketers to do their work very well define. Marketing research is actually systematic collection ,design , analysis & reporting of relevant data to a specific marketing situation.
Every companies use marketing research in a wide variety of situation like marketers insights into customers motivation, purchase behavior & satisfaction . Through rhis research, they can measure market potential & share ; measure the effectiveness of pricing, product ,distribution & promotion activities.
Some companies have their own research department that work with marketing research projects. Some companies hire outside research specialists to consult the management. This specialist warn specific problems & create a way of opportunities.
The marketing research process has four steps like:-
1. Defining the problem & research objectives;
2. Developing the research plan for collecting information;
3. Implementing the research plan - collecting & analyzing the data;
4. Interpreting & reporting the findings.
Here, I'll discussion first steps with examples. Another two steps' ll discussion in the next post.
Defining the problem & research objects:
First work for a manager & researcher is to define the problem. Moreover, manager can understand best for which information is needed & researcher can best understand marketing research & how to obtain the information. Manager may find out something may wrong but not the causes.
A marketing research has three types of objectives.
1. Exploratory research
2. Descriptive research
3. Causal research
Exploratory research is all about gathering preliminarily information that helps define the problem & suggest hypothesis.
Descriptive research is all about defining marketing problems, situations, market potential for a products or the demographics & attitudes of consumers.
Casual research is to test hypothesis about cause & effect relationships.
This problem & research objectives guides the entire research process.
Developing the reaearch plan:
After defining the problems, they must determine the needed information ,develop a plan for gathering it efficienly. Like demographic , economic & lifestyle characteristics of current products or brands; characteristics & using patterns of the broader population; must adopt a new product line; forecasts of sales & profit for new & current product.
Doing this , managers need primary & secondary data . Primary data consists of information collected for the specific purpose at hand & secondary data consists of information that already exists for using another purpose.
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