This document provides an overview of marketing research. It defines marketing research as a formal process for obtaining information to help marketing managers make better decisions. The document outlines the purpose, role, major steps, and key concepts of marketing research. Specifically, it discusses identifying problems and opportunities, selecting which to pursue, and developing alternatives to resolve issues and meet objectives. The overall goal of marketing research is to provide data-driven insights to assist decision making.

1. THE NATURE OF MARKRTING RESEARCH
NAME:MAKAM SRIHARSHINI
ROLL NO:1302-17-672-091
CLASS:MBA
SECTION:C
FACULTY:USHA RANI

2. THE NATURE OF MARKETING RESEACH

3. Purpose
Providing the information to assist marketing
managers to make better decisions.

4. Marketing Research Defined
It is a formalized means of obtaining
information to be used in making marketing
Decisions.

5. Role
Specifies the information required to address
market issues;
Designs the methods of collecting
information;
Manages and implements the data collection
process;
Analysis the results;
And communicates findings and their
implecations;

6. Decision making process
1. Establish objectives;
2. Measure performance/potential;
3. Select the problem/opportunity to pursue;
4. Develop alternatives;
5. Choose the best alternative; and,
6. Implement the alternative;

7. Major steps
1. Identification
2. Selection
3. Resolution

8. Problem/opportunity identification
Most commonly used in research
Problems are identified when objectives are
set
Opportunities occur when potential to exceed
objectives using a new approach is discovered.

9. Market share or sales objective
Number of customers,
Average purchase amount by customers,
%age of customers who are heavy users,
Consumer purchase criteria,
The nature of market segments,
The number of competitors,
Market expenditure per competitor, &
Relative product/service quality.

10. Problem/opportunity selection
Identification of a number of problems
Prioritize identified problems and
opportunities: time and impact.
The larger the impact and less the time until
the problem occurs (or until the opportunity is
lost), the higher is the priority.

11. Problem/opportunity resolution
Consists of two separate steps:
Developing alternative to meet objectives
Evaluating these alternatives in terms of
objectives.

12. Thank you