Define Marketing Research? Explain Features/Aspects of M.R. (Marketing Research)

T.Y. B.COM

SEMESTER 6

MARKETING RESEARCH (MR)

Define Marketing Research? 

Explain Features/Aspects of M.R. (Marketing Research)

Ans: Definitions:-

(1) American Marketing Association: "Marketing Research is the function that links the consumer, customer and public to the marketer through information."

(2) Scientific definition: Marketing Research is

  • The systematic and objective identification, collection, analysis, dissemination and use of information.

  • For the purpose of improving decision making

  • Related to the identification & solution of problems and opportunities in marketing.

Aspects/Features of Marketing Research

Following are the various features / aspects of the above definition of marketing research.

(1) Marketing Research is a systematic process. It requires systematic planning in all stages of marketing research process.

(2) It uses scientific methods in collection of data as well as analysis of data.

(3) It provides accurate information and shows true state of affairs.

(4) It is conducted impartially. I.e. it should be free from personal and political bias of researcher or the management.

(5) It involves identification, collection, analysis, dissemination and use of information.

(6) It provides findings, implications and recommendations in such a format (Report) that such information can be directly used in marketing decision making and action. It satisfies the motto of marketing research i.e. "Find it and tell it like it is."

For More Detail Contact Us And Follow On Study For Buddies

Thank You