Marketing Research

Marketing research is the function that 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.

Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, analyses, and communicates the findings and their implications.

There are two main sources of data—primary and secondary. Primary research is conducted from scratch. Marketing managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs. They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control.

The book encompasses the study of marketing research, demand forecasting, and consumer behaviour. It further analyzes the processes of market segmentation, pricing pohdes, PLC, and distribution channels. The book is concluded with an insight into rural marketing and finally a study of the marketing challenges faced by organizations in the new century.