objectives and scope of marketing research - Education - EzineMark

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Q. Explain the objectives and scope of marketing research.

Ans. Marketing? research? is? usually? conducted? to? achieve? the? following objectives:

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1. To? know? the? demographics? and? psychographics? of? customer? :?

Marketing research tries to reveal the number of persons who buy , why they buy, when they buy, the frequency of their buying, and the sources of their buying. It also includes the social status and the regional? location of the customer .

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2. To? find? out the? impact? of? promotional efforts :? Marketing? research facilitates appraising and improving the methods of sales promotion .

It also leads to measure the effectiveness of advertising , pricing policies and channels of distribution.

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3. To know customer response to a new product :? This is also known as product? testing? .? Marketing? research? is? frequently? used? to? know? the opinion of the customer about the satisfaction given by a new product. This helps in knowing the desired improvements in quality ,design, size, packing, distribution method, etc.

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4. To? forecast? sale? :?? Marketing? research? helps? in? sales? forecasting? and marketing planning .The researchers make sales forecast on the basis of the response from the customers and the distribution media.

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5. To anticipate competitive moves :? It helps the marketer to continuously monitor the competitor and judge about the right actions that might be required .

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6. To probe ?what went wrong :? This happens when the product is having some? special? problems? .? then? marketing? department? takes? necessary steps? to? solve? the? problem? if? the? problem? is? related? to? any? compliant regarding the product, or the customers are dissatisfied in any manner.

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Scope of Marketing Research :?

Marketing? research? covers? different? aspects? of? marketing? of? goods? , services? and ideas.? There? are many? areas? of? marketing? management where marketing research has special branches.

1. Product Research :? product research is associated with the conversion of customer need into tangible product offer. This includes development and testing of new products, improving the existing products, and a tab on the changing customer preferences , habits, tastes, etc. Packaging design , branding and labeling decisions are also included here.

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2. Customer research :? This research type includes investigation into the customer? buying? behavior-the? economical,? social,? cultural,? personal, and psychological influences.

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3. Sales research :? Sales research? involves? decision concerning selection of? store? location,? channels,? territories,? sales? force? motivation? and compensation? etc.? The? purpose? is? to? reach? the? target? customer? more effectively, efficiently and timely.

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4. Promotion research :? Promotion research encompasses all efforts by the? marketers to? communicate? the? company?s? offer ?.? This? includes advertising , publicity, public relations, sales promotion? etc.

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Thus? Market? Research? covers? separately? the? different? aspects? of marketing of goods , services? and ideas? with the? help of study of product research , customer research, sales research and promotion research. All these division? of? marketing Research are although working independently but are still interdependent .The main division of the marketing research can be shown with its figure:

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Scope of Marketing Research

Thus it is very clear from the above? diagram that Marketing research is a systematic? and? intensive? investigation? of? all? phases? of marketing? on? a continuous basis with? a? view? to? have? a? better? understanding? and? knowledge about the present? and future marketing problems for satisfactions of customer needs. It covers location of market , nature of the market , product analysis, sales analysis, personnel selling channel of distribution etc.

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