The+Role+and+Definition+of+Marketing+Research

=The Role of Marketing Research in the Business Community=

=The market research toolbox: a concise guide for beginners= By Edward F. McQuarrie Market research is a marketing activity, and marketing is a philosophy dealing with how to succeed in business. Marketing research consists of anything and everything the firm does to learn about and understand markets and customers. Because market research reflects a particular business philosophy, and because this philosophy focuses on learning, organizational change may be required when a firm desires to improve its performance with respect to market research. Put another way, to be truly effective, market research cannot be treated as an isolated function assigned to specialized staff. It has to be a cultural orientation that suffuses the organization.

Maggie Buchmiller

3 September 2011 - http://www.quickmba.com/marketing/research/ Marketing research is necessary for the value of the customers. Marketing research is much more general and usually solves the problems surrounding HOW. On the other hand, the use of market research provides the specific niche of consumer, their likes, dislikes, trends, demographics and ultimately WHAT to market. Through Marketing, we can attempt 3 separate styles of exploratory, descriptive and casual research with usage of detailed questionnaires and measurements, which are broken down into ratios (organized numbers referenced to absolute zero), intervals (scales between numbers) and numbers (simple identifiers necessary for counting). Marketing researchers must keep watch for non-sampling errors because of the tendencies that they might skew the data presented from collection.

If you're not first, you're last. Mark Saxby

Beall, A. E. (2010). //Strategic Market Research.// Bloomington, IN: iUniverse. Marketing research is the study of how people think about and relate to brands, products and services. Complaints about traditional market research include that it provides a lot of information, but not answers, tells them what they already know, or provides erroneous information. While some blame the techniques or the researchers themselves, it's most likely the problem lies with how the research is designed, executed, and analyzed. The best marketing research projects are the ones that answer a specific and significant question for the organization conducting the research. Angela Nelson

Marketing Research is defined as the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem. Marketing research is involved in every stage of information gathering and management. This includes specifying the information needed, collecting and analyzing all the information that is found, and interpreting that information in respect to the objectives of the project. All areas of marketing can be assisted by marketing research including product, pricing, placement, and promotion (The 4 P's). Marketing research can also help analyze consumer behavior and give forecasts on future behavior. (Churchill, and Iacobucci 5)

Churchill, Gilbert A, and Dawn Iacobucci. Marketing Research: Methodological Foundations. 10th. Cengage Learning, 2009. 5. eBook. Margaret Mainey

September 4- DJS Research Ltd: [|http://www.marketresearchworld.net]

Market Research is a systematic, objective collection and analysis of data about a particular target market, competition, and/or environment. It always incorporates some form of data collection whether it be secondary research (often referred to as desk research) or primary research which is collected direct from a respondent. The purpose of any market research project is to achieve an increased understanding of the subject matter. With markets throughout the world becoming increasingly more competitive, market research is now on the agenda of many organisations, whether they be large or small. Brett McConniff

[]" Marketing research is the gathering, analyzing and interpreting of a certain market. Using marketing research we can see spending habits, location, needs and other characteristics of the consumers that make up a target market. Business owners use this information to determine how to allocate resources and what projects to undertake. The information obtained from marketing research can be divided into two categories. The first category is primary information, which is information you gather yourself or from someone you directly hire. Secondary information has already been compiled and organized.

Aaron Brown

http://www.morebusiness.com/running_your_business/management/Market-Research.brc Marketing research is a necessity for businesses because it allows them to know which products or services would be profitable when they are introduced into the market. Also if a company has existing products in a market they can utilize marketing research to see if they have been satisfying the needs of their customers and if they need to make any changes in the packaging, the delivery, or the product itself. Marketing Research is also an essential management tool. Marketing research provides managers with important information about factors that will have an impact on your target markets and marketing mix. Managers can use this information to make changes that are necessary to get better results for the company. Adam Pink

[] "Marketing research does not make decisions and it does not guarantee success" (Http://www.fao.org/docrep/w3241e/w3241e02.htm). This statement defines the roles of marketing research by telling you what marketing research cannot do. The first being that market research is not there to make decisions but rather provide data so that intelligent decisions can be made. This paints a different picture than the role of a marketing manager in that the researchers success is not defined by the success of a program, but rather the substance of the data accumulated in study. The second clarification "it does not guarantee success" further reminds us that good data does not equal success. A good marketing manager must interpret data to make intelligent decisions, but must also realize that there are several different factors in all markets that could result in a failure, regardless of data. Michael Hippensteel

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Marketing research has started changing in the last couple years due to the new and every evolving tools that are becoming more prevalent. These new tools make the hunt for a leg up on competition that much more important task as well as a much more difficult task. There is more of an emphasis on market research and trends on what customers want and how they spend their money. as a result of this trend more of a company’s marketing budget is being allocated to marketing research.

Nick "The Moose" Rudolph

[|http://www.referenceforbusiness.com/management/Mar-No/Marketing-Research.html#ixzz1X89oNeMt] September 5, 2011 -- "Marketing research is the function that links the consumer, customer, and public to the marketer through information." Marketing research is used to specify a process of gathering information, managing and implementing the data you have collected, analyzing the results, and communitcating the results. This information you have gathered and analyzed is then used to identify the marketing oppertunities that might be available or help understand the problems that are trying to be identified. On another note an increased emphasis for marketing research has come from an increased domestic and international competition, an increased customer focus, and the demand for resource productivity. With demand rising the need for marketing research must go up because you must understand the problems and situation in front of you in order to make the right decision concerning your marketing strategy. Brent Arnold

http://tutor2u.net/business/marketing/research-need-purpose.html Marketing research can help a business do one or more of the following: Gain a more detailed understanding of consumers’ needs **–** marketing research can help firms to discover consumers’ opinions on a huge range of issues, e.g., views on products’ prices, packaging, recent advertising campaigns Reduce the risk of product/business failure – there is no guarantee that any new idea will be a commercial success, but accurate and up-to-date information on the market can help a business make informed decisions, hopefully leading to products that consumers want in sufficient numbers to achieve commercial success. Forecast future trends – marketing research can not only provide information regarding the current state of the market but it can also be used to anticipate future customer needs. Firms can then make the necessary adjustments to their product portfolios and levels of output in order to remain successful. JoEllen Keyser

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Marketing Research is the process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face. Marketing research provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process. In fact, strategies such as market segmentation (identifying specific groups within a market) and product differentiation (creating an identity for a product or service that separates it from those of the competitors) are impossible to develop without market research. Gabe Ismert

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Marketing Research assures a compnay that they are not simply guessing when producing a new marketing strategy or product. Using marketing research can help with the success of the the new product. Asking questions to potecntial customers can help you to mold your strategy and increase the chances of success. MArketing research helps you gain a competitive advantage by simply creating a relationship with the customer. Although market research can be expensive, it can easily beat the cost of you losing tons of money from putting all your eggs in to a basket that turns out to fail due to the lack of research! Hiring a marketing firm to do the research is the best way to go because they are professionals. Also, reading and understanding the numbers isn't as easy as it looks. Many times people will miss comprehend the numbers and cost themselves alot of money. Market research is almost a science that helps companies to succeed when producing new material and when needing success. R.J. Nill

http://managementhelp.org/marketing/market-research.htm#role

Market research can have a lot of different uses, and a lot of different methods for the collection of data. The one I will touch on is, understanding the unmet needs of a specific market. To do this, you must listen to what the needs and wants of customers are. Good ways to do this can be forming focus groups and handing out customer questionnaires. You can also gain a large amount of market research by studying your competition, maybe you can produce a better product for that market. Ask the customers why they use specific products and why they stay away from others. This will give you a good idea of a possible need of a market.

Brady Jones

By conducting Market research a company may decide to undertake a project themselves or they may choose to search and seek the help of marketing research agency. regardless of their first decision it is important that before diving head first into the project that they seek to find out what it is that they are really trying to find out, and what they want to achieve from their research. The researchers themselves can use varying methods to receive the data that they need, and or require. The use of the data for each company varies along with the results varying depending on what the company is trying to get out of their research.

Fernando Galvan []

"It's an easy trap to think of market research as a data point collections process when in actuality, it's a creative undertaking where synthesis, strategies, and ideas are paramount." (http://www.growthink.com/content/market-research-and-business-idea)

Marketing research is about identifying a problem, asking the right questions to the right customers (which are usually the worst customers), analyzing the data correctly, and using the research to strategically plan rather than as a justification for a pre-planned intention. Ways that businesses fail in marketing research is through not properly identifying the problem and asking the wrong questions to the wrong kind of customers. To be able to able to do marketing research a business needs to know their target market, the demographic, psychographics, and overall feel of their consumer. Once the business can fully get into the head of the consumer is when they are able to properly market to them. The risk of failure can contribute to the demise of interpreting marketing data, of a marketing plan, and ultimately the business. Here is an article that explains just that: (http://www.inc.com/articles/2000/03/19094.html)

Sarah Buse