Marketing research involves conducting investigation to support marketing activities and the statistical interpretation of data into information. this information.
This information is then used by managers to plan marketing activities. Gauge the nature of marketing environment and attain information from suppliers. marketing researches use statistical methods such as hypothesis tests chi-squared tests linear regression , correlations, frequency distributions, poison distributions, binomial distributions etc.
to interpret their findings and convert data into information. The task of marketing research is to provide management with relevant , accurate reliable valid and current information. a distinction should be made between marketing research and marketing research.
market research pertains to research in a given market.as an example' a firm may conduct research in a target market, after selecting a suitable market segment.
in contrast, marketing research is fundamentally about the acquisition and analysis of information required for the making of marketing decisions
The two basic areas in which information required for marketing decisions is sought are ;(existing and potential) and marketing tactics and methods. The research process spans a number of stages including the following steps.
a. definition of problem and specification of information to be sought
b. Design of study/ development of a research plan / project with particular reference to data collection methods ( surveys etc)instrumentation (questionnaires) and sample design (of target population)
c.fieldwork (utilizing the questionnaires, structured interview etc) collecting and interpreting of data
d. Data analysis and interpretation ( using statistical and or techniques)
e. presentation/dissemination of information formally inform of a report
This information is then used by managers to plan marketing activities. Gauge the nature of marketing environment and attain information from suppliers. marketing researches use statistical methods such as hypothesis tests chi-squared tests linear regression , correlations, frequency distributions, poison distributions, binomial distributions etc.
to interpret their findings and convert data into information. The task of marketing research is to provide management with relevant , accurate reliable valid and current information. a distinction should be made between marketing research and marketing research.
market research pertains to research in a given market.as an example' a firm may conduct research in a target market, after selecting a suitable market segment.
in contrast, marketing research is fundamentally about the acquisition and analysis of information required for the making of marketing decisions
The two basic areas in which information required for marketing decisions is sought are ;(existing and potential) and marketing tactics and methods. The research process spans a number of stages including the following steps.
a. definition of problem and specification of information to be sought
b. Design of study/ development of a research plan / project with particular reference to data collection methods ( surveys etc)instrumentation (questionnaires) and sample design (of target population)
c.fieldwork (utilizing the questionnaires, structured interview etc) collecting and interpreting of data
d. Data analysis and interpretation ( using statistical and or techniques)
e. presentation/dissemination of information formally inform of a report
WHAT IS MARKETING RESEARCH ?
Reviewed by eemyblinks
on
October 21, 2019
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Reviewed by eemyblinks
on
October 21, 2019
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