Marketing Research

Introduction to Market Research

• MR is a special branch of marketing management.

It is comparatively recent in origin. MR acts as an
investigative arm of a marketing manager. It
suggests possible solutions on marketing problems
for the consideration and selection by a marketing
manager.
• According to American Marketing Association
(AMA), MR is "The systematic gathering, recording,
and analyzing of data about problems relating to
the marketing of goods and services."

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 Steps in Marketing Research Process

• Identifying and defining a marketing problem

• Conducting a preliminary exploration (survey)
• Determining research objectives
• Determining research objectives
• Creating research design
• Designing the Questionnaire

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• Designing a sample of respondents For data collection

• Collecting Data
• Analyzing and interpreting data
• Preparing research report
• Presenting research report
• Follow-up steps

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 Advantages of Marketing Research

• Indicates current market trends

• Pinpoints deficiencies in marketing policies
• Suggests sales promotion techniques
• Provides marketing information
• Facilitates inventory study
• Facilitates business expansion
 Limitations of Marketing Research

• Fails to predict accurately

• Offers suggestions and not decisions
• Time-consuming activity
• Limited practical utility
Thank You