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Marketing Research

“Marketing Research is the function that links consumer,  customer   and public to the market, through information which is used to identify and define marketing opportunities and problems. It generate,  refine and evaluate marketing actions,  monitor marketing performance and improve understandings of marketing as a process”-American Marketing Association. Successful marketing requires timely and relevant market information. An inexpensive research program, based on questionnaires given to current or prospective customers,  can often uncover dissatisfaction or possible new products or services. Market research will also identify trends that affect sales and profitability.  Population shifts,  legal developments,  and the local economic situation should be monitored to quickly identify problems and opportunities. It is also important to keep up with competitors' market strategies.


Why Marketing Research

  • To Identify the Needs and Wants
  • Mind it-Wants are ever changing
  • To Intensify the Marketing Operations due to Continuous Feedbacks.
  • To Evaluate the Marketing Operations and its Effectiveness vis-à-vis the Expectations
  • To Reduce the Risk of Failures
  • To Save Cost and Time


Where Marketing Research?

  • Financial Research: Banking, Securities, Credit Card, Insurance, and Mutual Funds.
  • Automotive Research: Vehicles, Components, and Tyres.
  • Media Research
  • Consumer Products Research Durables and FMCG.
  • Industrial Research: Chemicals and Plastics Packaging, Textiles, Engineering, Bulk Drugs, Metals and Minerals, Oil and Gases.
  • Healthcare Research: Consumers, Doctors, Chemists, Hospitals, Patients and Pharma companies.


### TOPIC###Marketing Information Systems- MIS###

Marketing Information Systems- MIS


Internal continuous data: Information like allocation of discounts, promotional and transport costs, sales achieved, no of new accounts opened, size of order etc.


Internal ad-hoc data: How sales have reacted to price change or change in advt.

Environmental scanning: Economic, social, legal and technological forces.


Marketing research: Immediate information about markets and reaction of these to various product, price, distribution and promotion actions. Marketing mix decisions.


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