Definition Of Market Research
Marketing Research refers to an organized collection, gathering and review of data regarding the problems pertaining to marketing services or products. Typically, this term is interchangeable with market research, however many expert researchers may want to recognize the points of differences. ‘Market research’ is considered to be concerned explicitly with market, whilst ‘marketing research’ is related with only marketing strategies or processes. |
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The term marketing research is generally divided into 2 sets of clear-cut pairs:
- B2B marketing research and
- Consumer related marketing research
Alternatively, through methodological scheme:
- Quantitative and
- Qualitative advertising research
When it comes to consumer based marketing research, it is a type of applied sociology that focuses on comprehending the behaviors, attitudes and preference of individuals in a market based financial system. Its basic aim is to learn the impacts as well as relative success of advertising campaign. So, marketing research can be explained as an objective and systematic identification, gathering, evaluation and distribution of details for helping the management to make decisions pertaining to marketing opportunities and solution of different issues. The major objective of marketing research is to recognize and investigate how varying elements of marketing affects the behavior of customers.
Marketing research processes come in several forms, such as ad tracking, brand-equity, advertising research, brand-name testing, concept testing, commercial eye-tracking, brand attribute, test marketing, store audit, online panel, segmentation research and more. All of these marketing research forms can be categorized as either research for problem solving or research for problem identification.
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Definition Of Market Research
