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Marketing Research: A Scientific Approach

This post talks about the importance of marketing research.<br>

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Marketing Research: A Scientific Approach

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  1. thomascarol By thomascarol 27 January 2016 Like Like 2 thomascarol SHARE ON FACEBOOK ShareTweet Email+1 Enter Email Get Alerts SPONSORED The phrase 'marketing research' is made of two words, i.e. Do you need professional PDFs for your application? Try the PDFmyURL HTML to PDF API!

  2. The phrase 'marketing research' is made of two words, i.e. Creating Addictive Behavior Where Content Meets The Consumer marketing and research. While marketing refers to buying and selling transactions, research means a methodical study of a problem done by experts through scientific methods. Hence, marketing research can be defined as the systematic means of Most Popular gathering, recording and evaluating the data used to solve marketing problems. A company faces many marketing problems related to customers, products, market competition and sales promotion. The systematic process of marketing research includes the following steps: Steps of Marketing Research Collecting information about the marketing problem Recording the information Analyzing this data Drawing conclusions Providing suggestions to solve the marketing-problem Marketing research gathers full information about customers and Do you need professional PDFs for your application? Try the PDFmyURL HTML to PDF API!

  3. determines their expectations so that the firm produces the goods as per the consumers. Hence, it not only helps the company to make its marketing strategies, but also enables it to introduce new products in the market. By collecting all the related facts about the competitors, it helps a firm to make marketing policies and fight competition. Used by manufacturers, exporters and distributors, marketing research follows a scientific which includes product research, consumer research, packaging research and pricing research. Features of Marketing Research Wider scope With various stages such as product research, market research, packaging research, pricing research, sales research, marketing research has a very wide scope. Apart from making marketing policies, it is also used to identify new markets as well as introduce new products. Do you need professional PDFs for your application? Try the PDFmyURL HTML to PDF API!

  4. Methodical Approach As marketing research is conducted in an orderly manner, it adopts a more scientific and systematic approach. It is a very logical means of forming marketing policies and planning strategies. It also uses applied research for solving problems and bringing solutions. All its three methods, i.e. Survey Method, Experiment Method and Observation Method are scientific. Continuous Process Marketing uses the collected data for solving marketing problems. Hence, it can also be described as an art. As marketing research is conducted on regular basis to collect up-to-date data and latest information, it is a continuous process. However, as it changes constantly, it is a dynamic process. Advantages of Marketing Research Marketing research is useful to the company as well as the customers in many ways. It not only boosts the revenue by increasing the sales and profits of the company, but also helps Do you need professional PDFs for your application? Try the PDFmyURL HTML to PDF API!

  5. the firm to fight competition and build its reputation. It reduces risks and brings success to the company. It bridges the gap between company and the consumers. In The End Being a component of Marketing Information System (MIS), Marketing research and MIS are interrelated. Both of them help a firm to resolve marketing issues as well as take marketing decisions. SHARE ON FACEBOOK Repost Like Like 2 people like this. Sign Up to see what your friends like. 0 Comments Add a comment... Facebook Comments Plugin Do you need professional PDFs for your application? Try the PDFmyURL HTML to PDF API!

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