What is a Marketing Research? Various Process & Research Methods in Marketing
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. In this article let’s discuss what is a Marketing Research, Various Research Methods in Marketing
What is a Marketing Research?
It is the process that starts even before the Product is manufactured. It is the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and also services under essentially non-recurring conditions.
Process of Marketing Research
- Identifying and formulating problem: the problem formulation from the researcher’s point of view represents translating the management problem into a research problem.
- Choice of research design: it specifies the method and also procedures for conducting a particular study. This could be of three types. Exploratory, Descriptive and Casual.
- Determine source of data
- Design data collection form
- Determine sample designs and sample size.
- Organize and conduct field survey.
- Analyze and interpret the collected data.
- Preparation of research report
- Follow up recommendations
What do you mean by Marketing Research
- Marketing research (also called consumer research) is a form of business research. The field of marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923. It is a systematic and objective study of problems pertaining to the marketing of goods and also services. It is applicable to any area of marketing. Research is the only tool an organization has to keep in contact with its external operating environment. Authors have defined Marketing Research in many ways:
- According to Kotler (1999) it is systematic problem analysis, model-building and fact-finding for the purpose of improved decision-making and control in the marketing of goods and services.
- The American Marketing Association (AMA, 1961) defines it as the systematic gathering, recording and analyzing of data relating to the marketing of goods and also services.
- According to Green and Tull it is the systematic and objective search for and analysis of information relevant to the identification and also solution of any problem in the field of marketing.
Research Methods in Marketing
The following are the various Research Methods.
Methodologically, there are four types of research designs, namely:
This is generally used for exploratory purposes. The data collected is qualitative and focuses on people‘s opinions and attitudes towards a product or service. The respondents are generally few in number and also the findings cannot be generalized tot eh whole population. No statistical methods are generally applied.
For Example: Focus groups, In-depth interviews, and also Projective techniques
This is generally used to draw conclusions for a specific problem. It tests a specific hypothesis and uses random sampling techniques so as to infer from the sample to the population. It involves a large number of respondents and also analysis is carried out using statistical techniques.
For Example: Surveys and Questionnaires
The researcher observes social phenomena in their natural setting and draws conclusion from the same. The observations can occur cross-sectionally (observations made at one time) or longitudinally (observations occur over several time-periods)
For Example: Product-use analysis and computer cookie tracing
Here, the researcher creates a quasiartificial environment to try to control spurious factors, then manipulates at least one of the variables to get an answer to a research
For Example: Test marketing and Purchase laboratories
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