MARKETING RESEARCH MANAGEMENT AREA

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PRODUCT

Marketing research involves conducting research to support marketing activities, and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge the nature of a firm's marketing environment and attain information from suppliers. Marketing researchers use statistical methods such as research, qualitative, hypothesis tests, Chisquared tests, linear regression, correlations, frequency distributions, poisson distributions, binomial distributions, etc. to interpret their findings and convert data into information. The marketing research process spans a number of stages including the definition of a problem, development of a research plan, collecting and interpretation of data and disseminating information formally in form of a report. The task of marketing research is to provide management with relevant, accurate, reliable, valid, and current information. A distinction should be made between marketing research and market research. Market research pertains to research in a given market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. Thus, market research is a subset of marketing research.

Types of marketing research

Marketing research, as a sub-set aspect of marketing activities, can be divided into the following parts: Primary research (also known as field research), which involves the conduction and compilation of research for the purpose it was intended. Secondary research (also referred to as desk research), is initially conducted for one purpose, but often used to support another purpose or end goal.

Project Management
Project management is a carefully planned and organized effort to accomplish a specific (and usually) one-time objective, for example, construct a building or implement a major new computer system. Project management includes developing a project plan, which includes defining and confirming the project goals and objectives, identifying tasks and how goals will be achieved, quantifying the resources needed, and determining budgets and timelines for completion. It also includes managing the implementation of the project plan, along with operating

regular 'controls' to ensure that there is accurate and objective information on 'performance' relative to the plan, and the mechanisms to implement recovery actions where necessary. Projects usually follow major phases or stages (with various titles for these), including feasibility, definition, project planning, implementation, evaluation and support/maintenance. (Program planning is usually of a broader scope than project planning, but not always - note: the terms program and programme have significant variations in their meaning in different geographical areas, e.g. Europe and USA.) To conclude we can say that MARKETING RESEARCH plays a vital role in Product Management and it shouldnt be ignored.