·
INTRODUCTION:
Just close your eyes for a minute and utter the word
research to yourself. What kinds of images does this word conjure up for you?
Do you visualize a lab with scientists at work Bunsen burners and test tubes,
or an Einstein-like character writing dissertations on some complex subject, or
someone collecting data to study the impact of a newly introduced day-care system
on the morale of employees? Most certainly, all these images do represent
different aspects of research.
· DEFINITION:
Research is simply the process of finding solutions
to a problem after a thorough study and analysis of the situational factors. Managers
in organizations constantly engage themselves in studying and analyzing issues
and hence are involved in some form of research activity as they make decisions
at the workplace.
Marketing Research has
two words, viz., "Marketing" and "Research". Marketing means buying and
selling activities. Research means
a systematic and complete study of a problem. It is done by experts. It uses
scientific methods.
Thus,
we can say, Marketing Research is a systematic method of collecting,
recording and analyzing of data which is used to solve marketing problems.
· A
company faces many marketing problems. It faces problems about consumers,
product, market competition, sales promotion, etc. Marketing research helps to
solve these problems. Marketing research is a systematic process. It first
collects data (Information) about the Marketing problem. Then it records this
data. Then it analysis (studies) this data. Then it draws conclusions about
this data. After that, it gives suggestions (advice) for solving the marketing
problem. So, Marketing research helps to solve the marketing problems quickly,
correctly and systematically.
· Marketing
research collects full information about the consumers. It finds out the needs
and expectations of the consumers. So the company produces the goods according
to the needs and expectations of the consumers. Marketing research helps the
company to make its production and marketing policies. It helps the company to
introduce new products in the market. It helps to identify new markets.
Marketing research also collects full information about the competitors. The
company uses this information to fight competition. It also helps the marketing
manager to take decisions.
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