SUNEET KUMAR [ASSISTANT PROFESSOR AT HPTU-BS OFF CAMPUS AT RGGEC NAGROTA
SUBMITTED BY: SWATI PATHANIA (MBA 1SEM )
ROLLNO . 1941241038 Marketing research is "the process or set of processes that links the producers, customers, and end users to the marketer through information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications. Marketing Research has two words, viz.., marketing and research Marketing means creating , communicating and delivering customer value to the customers & managing customer relationships. Research Means a systematic and complete study of a problem. It is done by experts. It uses scientific methods. Thus, we can say, “Marketing Research is a systematic method of collecting, recording and analyzing of data , which is used to solve marketing problems. Online research : the use of computer networks, including the internet , to assist in any phase of the marketing research process including development of the p0roblem,research design , data gathering , analysis , and report writing and distribution 1. Define the problem 2. Collect the data 3. Analyze and interpret the data 4. Reach a conclusion 5. Implement your research Why do businesses need accurate and up-to-data information? - To undertake marketing effectively - Changes in technology - Changes in consumer tastes - Market demand - Changes in the product ranges of competitors - Changes in economic conditions - Distribution channels In this stage you need to identify the actual problems that are relating to the apparent symptoms. What information is needs in order to solve the problems? For example, poor sales within a business are not the problem, they are the symptom of a larger issue such as a weak marketing strategy. Management decision Marketing research problem problem • Asks what the decision • Asks what information in maker needs to do needed and how it • Action oriented should be obtained • Focuses on symptoms • Information oriented • Focuses on the underlying causes There are two types of market research that can be performed: 1. Primary research –involves c0llecting information from source directly by conducting interviews and surveys, and by talking to customers and established businesses. 2. Secondary research –involves collecting information form source where the primary research has already been conducted. Such information includes industry statistics , market research report, news paper articles, etc. Put your final solution into practice. Within completing this step your research could potentially have been a waste of your time and resources. Thanks