Marketing Research

Supermatic and objective search for and analysis of information relevant to the identifications and solution of any marketing problem is called marketing research.

Marketing research involves the following:

(a)    Identification and definition of the research problem:

 its intensity and its effect on the market is identified and defined.

(b)    Preliminary Exploration:

This is a quick survey of the external environment, about reasons sales decline, ineffectiveness o distribution chinned and reason for failure in competing with the competitor’s product.

(c)    Research Design:

Research design lays down what has to be done and how it is to be done for optimum utilization of money, time and resources.

(d)    Investigation:

 Survey method, observe, national method are the main methods used in investigation process. Care should be taken to maize errors and bias while investigating.

(e)    Processing and Analysis of Data:

The collected data is edited, classified and tabulated for easy analysis. The date is analyzed using statically techniques like correlation, regression factored analysis etc. To estimate the relationship of the faceted cussing the problem other external facets.

(f)    Interpretation Data:

Interpretation is influenced by researcher’s expertise attire and judgment.

(g)    Predation of Report:

This consists of findings, conclusion and recommendation in a very cleared and precise manner so that it is easy to understand.

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