Please forward this error screen marketing research paper 64. Meaning: It is very important to understand at the outset that the, modern concept of marketing revolves around the customer. Satisfaction of customer is the main aim of marketing.
For achieving this goal, marketing research is undertaken. In fact, marketing management is nothing but marketing research. With the expansion of business, marketing management becomes complex. It has to rely heavily on marketing research for solving problems in the field of marketing. The systematic objective and exhaustive research for and study of the facts relevant to any problem in the field of marketing.
Marketing research is the careful and objective study of product design, markets, and such transfer activities as physical distribution and warehousing, advertising and sales management. Marketing research is the inclusive term which embraces all research activities carried on for the management of marketing work, the gathering, recording and analysing of all facts about problems relating to the transfer and sale of goods and services from producer to consumer. From the above definitions, it is clear that marketing research is concerned with tackling the problems emerging from the beginning to the final stage of marketing process. The origin and development of marketing research was started in England. Afterwards, it was developed by a German Prof. Whilhelm Vershofen, who is known as the father of market research.
Marketing research techniques and methods are being increasingly adopted by all the countries of the world whether developed, developing or underdeveloped. In America, marketing research is conducted by many companies on a very high scale. Marketing research is concerned with all the major functions of marketing. Market research is primarily concerned with knowing the capacity of the market to absorb a particular product. Its scope is very broad as compared to market- research. It is concerned with collection of market information systematically and impartially, analysis and evaluation of relevant data and use such data for the benefit of the organisation.
It is a careful and objective study of various areas of marketing activities. What, when, where and how to sell the end product and the services are four questions to which the marketing research wing provides an answer. Thus, market research and marketing research are different from each other. Market research is a narrow concept whereas marketing research is a broad one and its scope is much wider. It includes nature of the market, product analysis, sales analysis, time, place and media of advertising, personal selling, pricing, sales organisation, packaging, brand names, etc. Marketing and sales forecast research provides sound basis for the formulation of all marketing plans, policies, programmes and procedures. Marketing research provides ways and means to reduce marketing costs like selling, advertisement and distribution etc.