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❶National and International Perspectives, Jagdish N.

BREAKING DOWN 'Market Research'

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What is 'Market Research'

Experts in marketing research have shown that studies featuring multiple and often competing hypotheses yield more meaningful results than those featuring only one dominant hypothesis. Marketing research is objective. It attempts to provide accurate information that reflects a true state of affairs. It should be conducted impartially. While research is always influenced by the researcher's research philosophy, it should be free from the personal or political biases of the researcher or the management.

Research which is motivated by personal or political gain involves a breach of professional standards. Such research is deliberately biased so as to result in predetermined findings. The objective nature of marketing research underscores the importance of ethical considerations. Also, researchers should always be objective with regard to the selection of information to be featured in reference texts because such literature should offer a comprehensive view on marketing.

Research has shown, however, that many marketing textbooks do not feature important principles in marketing research. Organizations engage in marketing research for two reasons: This distinction serves as a basis for classifying marketing research into problem identification research and problem solving research. Problem identification research is undertaken to help identify problems which are, perhaps, not apparent on the surface and yet exist or are likely to arise in the future like company image, market characteristics, sales analysis, short-range forecasting, long range forecasting, and business trends research.

Research of this type provides information about the marketing environment and helps diagnose a problem. For example, the findings of problem solving research are used in making decisions which will solve specific marketing problems. The Stanford Research Institute , on the other hand, conducts an annual survey of consumers that is used to classify persons into homogeneous groups for segmentation purposes. Standardized services are research studies conducted for different client firms but in a standard way.

For example, procedures for measuring advertising effectiveness have been standardized so that the results can be compared across studies and evaluative norms can be established. The Starch Readership Survey is the most widely used service for evaluating print advertisements; another well-known service is the Gallup and Robinson Magazine Impact Studies.

These services are also sold on a syndicated basis. All of these forms of marketing research can be classified as either problem-identification research or as problem-solving research. Primary research is conducted from scratch. It is original and collected to solve the problem in hand.

Secondary research already exists since it has been collected for other purposes. It is conducted on data published previously and usually by someone else. Secondary research costs far less than primary research, but seldom comes in a form that exactly meets the needs of the researcher. A similar distinction exists between exploratory research and conclusive research. Exploratory research provides insights into and comprehension of an issue or situation.

It should draw definitive conclusions only with extreme caution. Conclusive research draws conclusions: Exploratory research is conducted to explore a problem to get some basic idea about the solution at the preliminary stages of research.

It may serve as the input to conclusive research. Exploratory research information is collected by focus group interviews, reviewing literature or books, discussing with experts, etc. This is unstructured and qualitative in nature. If a secondary source of data is unable to serve the purpose, a convenience sample of small size can be collected.

Conclusive research is conducted to draw some conclusion about the problem. It is essentially, structured and quantitative research, and the output of this research is the input to management information systems MIS. Exploratory research is also conducted to simplify the findings of the conclusive or descriptive research, if the findings are very hard to interpret for the marketing managers.

Methodologically, marketing research uses the following types of research designs: Researchers often use more than one research design. They may start with secondary research to get background information, then conduct a focus group qualitative research design to explore the issues. Finally they might do a full nationwide survey quantitative research design in order to devise specific recommendations for the client. Business to business B2B research is inevitably more complicated than consumer research.

The researchers need to know what type of multi-faceted approach will answer the objectives, since seldom is it possible to find the answers using just one method. Finding the right respondents is crucial in B2B research since they are often busy, and may not want to participate. Last, but not least, most business research leads to strategic decisions and this means that the business researcher must have expertise in developing strategies that are strongly rooted in the research findings and acceptable to the client.

There are four key factors that make B2B market research special and different from consumer markets: Marketing research does not only occur in huge corporations with many employees and a large budget. Marketing information can be derived by observing the environment of their location and the competitions location.

Small scale surveys and focus groups are low cost ways to gather information from potential and existing customers. Most secondary data statistics, demographics, etc. International Marketing Research follows the same path as domestic research, but there are a few more problems that may arise.

Customers in international markets may have very different customs, cultures, and expectations from the same company. In this case, Marketing Research relies more on primary data rather than secondary information. Gathering the primary data can be hindered by language, literacy and access to technology. Basic Cultural and Market intelligence information will be needed to maximize the research effectiveness. Some of the steps that would help overcoming barriers include:.

Market research techniques resemble those used in political polling and social science research. Meta-analysis also called the Schmidt-Hunter technique refers to a statistical method of combining data from multiple studies or from several types of studies. Conceptualization means the process of converting vague mental images into definable concepts.

Operationalization is the process of converting concepts into specific observable behaviors that a researcher can measure. Precision refers to the exactness of any given measure. Reliability refers to the likelihood that a given operationalized construct will yield the same results if re-measured. Validity refers to the extent to which a measure provides data that captures the meaning of the operationalized construct as defined in the study.

The most common entry-level position in marketing research for people with bachelor's degrees e. These people are responsible for supervising a well-defined set of operations, including field work, data editing, and coding, and may be involved in programming and data analysis.

Another entry-level position for BBAs is assistant project manager. An assistant project manager will learn and assist in questionnaire design, review field instructions, and monitor timing and costs of studies. In the marketing research industry, however, there is a growing preference for people with master's degrees. Those with MBA or equivalent degrees are likely to be employed as project managers. An MMR typically prepares students for a wide range of research methodologies and focuses on learning both in the classroom and the field.

The junior analyst and the research analyst learn about the particular industry and receive training from a senior staff member, usually the marketing research manager. The junior analyst position includes a training program to prepare individuals for the responsibilities of a research analyst, including coordinating with the marketing department and sales force to develop goals for product exposure. The research analyst responsibilities include checking all data for accuracy, comparing and contrasting new research with established norms, and analyzing primary and secondary data for the purpose of market forecasting.

As these job titles indicate, people with a variety of backgrounds and skills are needed in marketing research. Technical specialists such as statisticians obviously need strong backgrounds in statistics and data analysis.

Other positions, such as research director, call for managing the work of others and require more general skills. To prepare for a career in marketing research, students usually:. From Wikipedia, the free encyclopedia. This article contains too many or too-lengthy quotations for an encyclopedic entry. Please help improve the article by presenting facts as a neutrally-worded summary with appropriate citations. Consider transferring direct quotations to Wikiquote.

Behavioral targeting Brand ambassador Broadcasting Display advertising Drip marketing In-game advertising Mobile advertising Native advertising New media Online advertising Out-of-home advertising Point of sale Printing Product demonstration Promotional merchandise Publication Visual merchandising Web banner Word-of-mouth.

This section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed. April Learn how and when to remove this template message. Text and Cases , 2nd ed. National and International Perspectives, Jagdish N.

Also note that some sources provide an earlier date of for this event; See for instance: James, Essentials of Marketing Research: Putting Research Into Practice, p. Text and Cases, 2nd ed. The Democratic Experience, Random House, , [e-book edition], n. It is very important to understand at the outset that the, modern concept of marketing revolves around the customer. Satisfaction of customer is the main aim of marketing.

For achieving this goal, marketing research is undertaken. In fact, marketing management is nothing but marketing research. With the expansion of business, marketing management becomes complex. It has to rely heavily on marketing research for solving problems in the field of marketing.

From the above definitions, it is clear that marketing research is concerned with tackling the problems emerging from the beginning to the final stage of marketing process. The origin and development of marketing research was started in England.

Whilhelm Vershofen, who is known as the father of market research. Marketing research techniques and methods are being increasingly adopted by all the countries of the world whether developed, developing or underdeveloped.

In America, marketing research is conducted by many companies on a very high scale. Marketing research is a broader term including market research. Marketing research is concerned with all the major functions of marketing.

Market research is primarily concerned with knowing the capacity of the market to absorb a particular product. Marketing research is not only concerned with the jurisdiction of the market but also covers nature of the market, product analysis, sales analysis, time, place and media of advertising, personal selling and marketing intermediaries and their relationships etc.

Its scope is very broad as compared to market- research. It is concerned with collection of market information systematically and impartially, analysis and evaluation of relevant data and use such data for the benefit of the organisation.

It is a careful and objective study of various areas of marketing activities.


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Market research is the process of assessing the viability of a new good or service through research conducted directly with the consumer. This practice allows a company to discover the target market and record opinions and other input from consumers regarding interest in the product.

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If a company's marketing research shows an increase in demand for their top level of mobile phones, they would be foolish to discontinue the manufacturing and sale of .

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Definition: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and. Market research is an essential component of a business plan for startup businesses - if market research does not indicate a demand for the product or service the proposed business will not likely be viable.

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ADVERTISEMENTS: Marketing Research: Meaning, Definition and Objectives– Explained! Meaning: It is very important to understand at the outset that the, modern concept of marketing revolves around the customer. Satisfaction of customer is the main aim of marketing. For achieving this goal, marketing research is undertaken. ADVERTISEMENTS: In fact, marketing management is nothing but marketing.