The terms “Market Research” and “Marketing Research” are often used interchangeably. Practically, these two terms have different meaning. Generally, people who are not well conversant with marketing terminology use the term “Market Research” for Marketing Research. Thus, Market Research may be regarded as a misnomer for Marketing Research. It was prior to 1940, when the marketing concepts were not clearly defined, market research was being used concepts were not clearly defined, market research was being used for collecting and analyzing of limited information from a particular market. In a nutshell, market research is a broad term whereas market. In a nutshell, market research is broad term whereas market research is the wrong nomenclature used for representing the marketing research. It may also be mentioned here that marketing research is a broad the term whereas market research has a narrower scope.

To differentiate the two terms in order to further clarify their meanings, let us define both these terms separately. Marketing research as defined earlier is the systematic and objective process of identifying. formulating and objective setting of a marketing problem and collecting. Processing, analyzing, interpreting and presenting data in order to find a justified solution for that problem. Whereas market research is a process of collecting information about who, what, where, when, why and how of actual and potential consumers in a particular market.

This means the scope of marketing research is more broad as it includes the study of different marketing problems relating to marketing-mix elements. micro-environmental variables (viz., buyers, competitors, dealers, suppliers, etc.) and macro-environmental variables (viz., economic, socio-politic, technology and telltale). The scope of market research is narrower because it is used to collect and analyze the limited information on some specific aspects re-grading a particular market.

Also marketing research is a system tic and objective process of solving marketing problems. Whereas market research is a process of collecting information on some aspects of marketing in a haphazard manner.

Marketing research can solve any problem of marketing, e.g., decline of sales of a particular product in India, measuring advertising effectives in certain markets, forecasting sales of a particular product in particular markets in India, etc. Market research can only partially solve a problem because of its non-systematic approach of collecting and analyzing data about marketing problem. For example, sales of a particular product is declining in Mumbai market and the firm manufacturing that product asks one of its employees to collect whatsoever information is available in this regard, is a case of market research, whereas the same pice of research carried out in an objective and systematic manner becomes a case of marketing research.

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