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Market research - Essay Example

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Proper market research often works towards enhancing the market niche. Marketing research refers to a set of procedures that links customers,…
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Market Research By Lecturer’s and To come up with a very outstanding market strategy, the aspect of carrying out adequate market research and analysis is very essential. Proper market research often works towards enhancing the market niche. Marketing research refers to a set of procedures that links customers, the consumers, and the end users to the ultimate marketers through the aspect of availing adequate information (McNulty, 2014). This refers to the information that is utilized in identification and definition of marketing problems and opportunities. 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 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 systematic act of recording, gathering and analysing of quantitative and quantitative data involving issues that relates to 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 greater understanding of the attitudes, preferences, and the consumers’ behaviours within each and every 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 with regards to 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. Competitive environment, together with an ever-increasing cost that are often attributed to the aspect of inadequate decision making techniques that needs the 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 in the verge of identification and satisfaction of the 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 the 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 is responsible for 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 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 in decision making processes, while the marketing managers are setting basis towards involvement in research. The marketing research roles with regards to managerial decision making can be ascertained well by use of the "DECIDE" model (Burns & Bush, 2014).
Reference List
Burns, A. C., & Bush, R. F. (2014). Marketing research. Boston: Pearson.
Inc. (Firm). (2014). Market research. New York, NY: Inc.
McNulty, T. (2014). Art market research: A guide to methods and sources. Read More
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