Amul Milk V/S Loose Milk
1. INTRODUCTION TO MARKETING RESEARCH
Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets. Market research as defined by the ICC/ESOMAR International Code on Market and Social Research includes social and opinion research is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. Market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is completed, it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the instruments for market research.
There are some important things to be considered:
Market information
Through Market information one can know the prices of the different commodities in the market, as well as the supply and demand situation. Information about the markets can be obtained from different sources, varieties and formats, as well as the sources and varieties that have to be obtained to make the business work.
Market segmentation
Market segmentation is the division of the market or population into subgroups with similar motivations. It is widely used for segmenting on geographic differences, personality differences, demographic differences, use of product differences, psychographic differences and gender differences.
Market trends
Market trends are the upward or downward movement of a market, during a period of time. The market size is more difficult to
Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets. Market research as defined by the ICC/ESOMAR International Code on Market and Social Research includes social and opinion research is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. Market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is completed, it can be used to determine how to market your product.
Questionnaires and focus group discussion surveys are some of the instruments for market research.
There are some important things to be considered:
Market information
Through Market information one can know the prices of the different commodities in the market, as well as the supply and demand situation. Information about the markets can be obtained from different sources, varieties and formats, as well as the sources and varieties that have to be obtained to make the business work.
Market segmentation
Market segmentation is the division of the market or population into subgroups with similar motivations. It is widely used for segmenting on geographic differences, personality differences, demographic differences, use of product differences, psychographic differences and gender differences.
Market trends
Market trends are the upward or downward movement of a market, during a period of time. The market size is more difficult to