Market Research Analysis - Essay Example

This often refines, generates, and evaluates various marketing actions through the aspect of monitoring the marketing performances and improvement of the existing marketing process. Marketing research often specifies the required information to address some of these issues, designs of a proper methodology for collecting information, management and implementation of the data gathering process, analysis of the results, as well as the aspect of communicating the ultimate findings and implications (McNulty, 2014).

Market research generally has to do with the systematic act of recording, gathering and analysing of quantitative and quantitative data involving issues that relate to the marketing of goods and services. The main objective of this element is the identification and assessment of the changing marketing mix and customer elements (Inc. (Firm), 2014). Market research is mainly concerned particularly with the general market perspectives and processes. Customer marketing research usually refers to a form of functional sociology that lays its major concentration on a greater understanding of the attitudes, preferences, and consumers’ behaviours with every Y a market-based economy. The main aim is the element of trying to understand the comparative success and impacts of various marketing campaigns (Inc. (Firm), 2014).

The main task of marketing research is the provision of proper management with accurate, relevant, valid, reliable and latest information. This often works towards solving various marketing issues that emerge mainly due to competition within the marketing environment. The competitive environment, together with the ever-increasing cost is often attributed to the aspect of inadequate decision-making techniques that needs marketing research to offer sound information (Inc. (Firm), 2014). The basis of intuition, gut feeling or pure judgment should not be involved when it comes to the aspect of making sound decisions.

Marketing managers often make various tactical and strategic decisions on the verge of identification and satisfaction of customer needs. They usually make decisions regarding potential opportunities, market segmentation, selection of the target markets, implementation and planning of marketing programs, analysis of marketing performance, as well as ultimate control (Burns & Bush, 2014). Such decisions are usually complicated through interactions between the pricing, controlled marketing product variables, distributions and promotions.

Generally, marketing researchers are responsible for the provision of relevant information that can be used for making marketing decisions that are often made by managers. It assists in the removal of some uncertainties through the provision of relevant information involving the marketing environment, variables and consumers. However, there has been the aspect of changing roles and thus marketing researchers are currently getting more concerned with decision-making processes, while marketing managers are setting a basis towards involvement in research. The marketing research role about to managerial decision-making can be ascertained well by the use of the "DECIDE" model (Burns & Bush, 2014).