2. Marketing Research
• It is defined as the set of procedures which connects producers and
consumers to marketer through information
• Market oriented research which assists in the overall marketing
management of a firm.
• It helps to discover loopholes of current marketing strategy and
thus helping us to make effective strategy.
• It helps in defining market opportunities.
4. Problem Formulation
• In this stage management problems are identified.
• This stage takes time and is purely based internal assessment of a
firm.
• Further these problems become the central idea of research.
5. Data collection
• Generally data collection uses either communication or
observation.
• Communication involves asking questions and receiving responses.
• In contrast data may be obtained by observing present or past
behavior.
6. Interpreting/Analyzing data
• The data must be edited, coded, and tabulated before performing
formal analyses such as statistical test.
• Data analyzing is a process of inspecting correcting and tabulating
data with the goal discovering useful information and reaching
conclusion.
7. Research Report
• The zenith of the whole research process is the research report.
• It includes a clear, accurate, and honest description of everything
that has been done and the results, conclusions
8. Implementation
• Put your final conclusion into practice.
• It is one of the most essential level of process.
• Constant follow ups must be taken to ensure the proper
implementation.
Hello good morning everyone
My topic for today is marketing research
And we will start off understanding its meaning
RESEARCH: IT IS ALWAYS ABOUT ANALYSIS, INSPECTION AND CLOSE INVESTIGATION ABOUT A PREDEFINED TOPIC OR SUBJECT TO GET TO KNOW NEW INSIGHTS ABOUT THE PARTICULAR SUBJECT.
We can explain or elucidate its meaning by breaking up the term RESEARCH which is RE:Again and SEARCH:Investigation. When we put them together it comes out to be again searching about a predefined topic or subject to get to know newer bits and pieces about that particular subject.
This process can be done in person, by mail, by telephone, by e-mail, and over the Internet. In most instances this constitutes the broad research technique known as the survey.
Regarding past behavior, data collection techniques include looking at secondary data such as company records, reviewing studies published by external sources,
Pre requisite to interpretation is that data must be coded and tabulated properly to reach the useful information.
It also helps in giving in recommendation in future course of action.
Two critical attributes that a report must have is firstly completeness and conciseness.
