MBA Distance education learning / Marketing Research

Ans Business Marketing research is a process of searching vital information about market, consumer, demand, and competition and so on, to develop a marketing strategy and its application.

It can be also explained as the process of collecting information, analyzing the result and presenting the findings and implications.

So the basic activities performed are:

1. Collection
2. Analysis
3. Presentation

Thus marketing research is the link between the consumer and the marketer.

Ans: The stages in the Marketing research process areas followings:

1. Defining the problem

Then first stage in market research process is to define the research problem. It attempts to clarify the problem and create a clear-cut problem statement. It should also mention the purpose of the research.

2. Statement of Research Objectives

The research objectives are expressed in qualitative and quantitative terms. For example, “ To find out the extent to which the sales are positively affected by sales promotional programs.

3. Planning a research Design

Research design is the master plan of methods, approaches, techniques, variables, data source, evaluation methodology, timing and costing of all research activities etc.

All these description help in understanding and executing research activities.

4. Planning a sample

Sample is the small part or some units of the population which is to be surveyed. While planning the sample, we

1) decide the sample size to be collected.

2) The type of sample data like primary or secondary etc.

3) The method of collecting samples, like random or consensus.

4) The variables to be used while collecting data.

5. Collecting the data

Data collection is an important part of marketing research. The emphasis is given on tools and methods of data collection. The popular methods used are observation method and communication method.

6. Analyzing the data

After collecting the data, next process is to organize the data systematically. It requires the editing and coding of data. The data is tabulated and classified in meaningful categories.

It is followed by application of the logic to the data collected. The statistical analysis may range from univariate to multivariate analysis.

7. Formulating the conclusion and Preparing & presenting the Report

Having analyzed the data, the observation or analysis is interpreted into conclusions for use in managerial decisions.

The conclusion should be technically accurate, understandable, and useful.

The report is prepared as per the formats available for report writing. It carries all details from problem statement to conclusion.

Ans: The scopes of the marketing research function are:

1. Sales Analysis

1. Measurement of market potential/demand.

1. Determination of market characteristics.
   
2. Market share estimation

1. Sales methods and policies

1. Product management
2. Advertising research
   1. Media research
   2. Copy research
3. Corporate research
   1. Social value research
   2. Political studies
   3. Customer service studies