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Research in Marketing

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Sunanda K. Chavan
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Research in Marketing - October 21st, 2010

Marketing Research is the systematic and objective search for and analysis of information relevant to the identification and solution of any problem in the field of marketing.
AMA-American Marketing Association) redefines MR:
“Marketing Research is the function which links the consumer, customer and public to the marketer through information-information used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance and improve understanding of marketing as a process”.





Uses of MR undertaken by companies:
*To measure market potentials, characteristics of the market and market share.
*To obtain information to make short range and long range forecasts.
*To evaluate new-product opportunities and acceptance, and to test existing products relative to competitors product.
*To help companies make better advertising decisions.


Other applications of MR
*Product optimization or product design studies.
*Tracking studies to measure brand acceptance or usage.
*Basic marketing strategy studies
*Advertising campaign testing.
Advertising pre-testing or copy testing.


Why do we need MR?
*We don’t know enough about the consumer/potential customers.
*MR is to get to know them-their buying behavior, their attitudes, their tastes, their habits etc.
*Budget for advertising/ product development is tremendous.
*Branding effort is long-term.
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