Marketing Management 3(2+1)

Lesson 09 : Marketing Research

Marketing Research Process

When new products are to be introduced in the market, managers should posses needed information about its launch. As decision by the consumer regarding a product is influenced by varietal factors, all these have to be ascertained for a successful market. The job of collecting, recording and analyzing relevant data for marketing decisions is known as marketing research. It helps to identify the facts in making important marketing decisions by the managers.

"Marketing research is about researching the whole of a company's marketing process."

"Marketing research is the function that links the consumer, customer and public to the marketer through information - information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.

American Marketing association - Official Definition of Marketing Research

The Marketing research Process is carried out in the following way:

1. Establishing the Need for Marketing Research
2. Defining the Problem
3. Establishing Research Objectives
4. Determining Research Design
5. Identifying Information Types and Sources
6. Determining Methods of Accessing Data
7. Designing Data Collection Forms
8. Determining Sample Plan and Size
9. Collecting Data
10. Analyzing Data
11. Preparing and Presenting the Final Report