Marketing Research

Topics: Marketing, Research, Decision making Pages: 6 (2083 words) Published: February 24, 2009
Name : Sua Shin Yao 15723

2. According to the Marketing Research Association(2000), Marketing Research is defined as follows: "Marketing Research is the function which links the consumer, customer, and public to the marketer through information, 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 methods for collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications. As a whole, marketing research is about researching the whole of a company’s marketing process.

Marketing research is a $1.3-billion-dollar-a-year industry. The industry is growing at over 10 percent a year, with profits running at a similar level. Marketing Research provides, analyzes, and interprets information for manufacturers on how consumers view their products and services and on how they can better meet consumer needs. The ultimate goal is to please the consumer in order to get, or keep, the consumer's business. Marketing research is systematic. Thus systematic planning is required at all the stages of the marketing research process. The procedures followed at each stage are methodologically sound, well documented and as much as possible, planned in advance. Marketing research uses the scientific method in that data are collected and analyzed to test prior notions or hypotheses. 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. The basic purpose of marketing research is to reduce uncertainty or error in decision-making. The information collected by conducting marketing research is used for problem solving and decision making in various areas of marketing. By using the marketing research process, it can reduce uncertainty or error in a decision-making. Marketing research process involve define the problem and research objectives, developing the research plan for collecting information, implementing the research plan which collecting and analyzing the data and finally interpreting and reporting the findings, which all this steps can help to reduce error or uncertainty in making decision. The marketing research process is the systematic identification, collection, analysis and distribution of information for the purpose of knowledge development and decision making. The purpose of marketing research or the first step of marketing research process is to define the problem In defining the problem, the researcher should take into account the purpose of the study, the relevant background information, what information is needed, or identify opportunity and how it will be used in decision making. Problem definition involves discussion with the decision makers, interviews with industry experts, analysis of secondary data, and, perhaps, some qualitative research, such as focus groups. Once the problem has been precisely defined, the research can be designed and conducted properly. For example, “The Body Shop” has facing a declining sales. Once the problem has been clearly defined, the researcher must specify the objectives of the proposed research and develop a specific list of information needs. A marketing research project might have one of three types of objective, the three type of objective is exploratory, descriptive and causal. Research objectives answer the question "Why is this project being conducted?" The answer could be as broad as the determination of the amount of effort needed to increase the company's market share by 5 percent . Only when the...
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